News Archive
02 December 2008
Rates cut by 1 per cent
The Reserve Bank has slashed its key interest rate by more than expected in its latest effort to prevent Australia's economy from sliding into a recession. The central bank lopped a full percentage point, or 100 basis points, off its key cash rate, reducing it to 4.25%. That level matches its previous record low - reached in the wake of the 9/11 terrorist attacks in the US in 2001 - since the R... read news item »
27 November 2008
Saving the world vs saving money
ONLY 1 per cent of consumers are exploring green energy options when looking for a new electricity provider, research has found. Energy price comparison service GoSwitch said paying extra to help the environment was not a high priority for most consumers. "The vast majority will only choose a more environmentally friendly option if it means they are still saving money off their regular b... read news item »
25 November 2008
Sydney Suburbs Reap Rewards From the Rate Drop
A number of Sydney suburbs have enjoyed a resurgence in first-time buyer enquiries in the wake of lower interest rates and the increased First Home Owner’s Grant. In a further boost for NSW first timers, in early November, the Premier announced an additional $3,000 was available for NSW First Home Owner Grant Scheme. This represents $24,000 of financial assistance for those buying or... read news item »
20 November 2008
Market outlook - Property Prices Drop only Slightly Compared With Shares
Even the much anticipated election of Barack Obama failed to provide a flip for share investors. In contrast, RP Data-Rismark figures show property values for houses and units across Australia remained in a virtual holding pattern, falling an average of just 0.5 per cent in the September quarter. RP Data suggests the gap between housing demand and supply was keeping prices fairly stable. ... read news item »
19 November 2008
Reserve set to cut rates again
The Reserve Bank board will cut at least three-quarters of a percentage point from interest rates when it meets again on December 2, and may even cut by a full point. The minutes of the board's last meeting, on Melbourne Cup day, show it rejected a recommendation by officials to cut by half a percentage point and instead cut by three-quarters amid alarm about "confidence among consumers an... read news item »
18 November 2008
Kevin Rudd hands $300m to local councils in a bid to boost economy
KEVIN Rudd has announced a $300 million boost for local councils in a plan tipped to create thousands of jobs. The nation's mayors have until June next year to spend the grants on swimming pools, bus shelters, playgrounds and libraries. Kevin Rudd expects thousands of jobs to be created for skilled tradespeople, engineers and administrators, The Australian reported . Councils will be guaran... read news item »
10 November 2008
Top 10 tips to avoid landlord hell
TENANTS from hell, rising loan repayments and persistent maintenance problems can conspire to make landlords feel investing in residential property is best left to suckers. Bricks and mortar, however, remain one of the most popular and effective ways to build long-term wealth, without the wild swings share market investors have experienced this year. Real Estate Institute of SA president Robi... read news item »
08 November 2008
The 10 key factors when selling your home
The 10 focal points vital to selling your home include a vibrant garden, appropriate fencing and a clutter-free home, according to building advisory service Archicentre. Archicentre says the 10 factors that make the biggest difference when trying to sell your home are: Vibrant garden A landscaped garden is like having an extra room. For maximum resale value, vendors look to create... read news item »
08 November 2008
Q&A on home saver accounts
First homebuyers can now get access to First Home Saver Accounts to help save the deposit for their first home, with a little help from the government. Here are some common questions and answers about how the accounts work. Q. Who can open an account? A. To open an account, you need to be aged over 18 and under 65 years, have a tax file number you can quote in your application, have never... read news item »
04 November 2008
Rates cut to 5.25%
The Reserve Bank cut its key interest rate for the third month in a row as it attempts to prevent Australia's economy stalling. The central bank trimmed three-quarters of a percentage point - or 75 basis points - off its key cash rate, reducing it to 5.25%, the lowest level since December 2003. For a typical 25-year, $250,000 home loan, today's cut if passed on in full by lenders will save the... read news item »