News Archive
19 January 2010
WESTPAC CHANGE LVR
Westpac have again led the market this time changing their maximum Loan to Valuation Ratios (LVR). The LVR is calculated by dividing the total amount of the loan by the appraised value of the property. What this means is now borrowers must have a bigger deposit.
Before the Change - A Lo Doc Loan
A Borrower purchasing a property for $300000 would need to... read news item »
18 January 2010
Race on as keen buyers chase too-few properties
Supply, or rather, a serious lack of it, is tipped to become one of the driving forces shaping the 2010 residential market.
There may be very little auction activity going on now but industry reports of strong levels of buyer inquiry and open-for-inspection numbers are already being received from across the metropolitan area.
It's not surprising, really, when you consider how 2009 ended. Wi... read news item »
13 January 2010
Rebound tipped for stagnant rents
RENTS across Australia stagnated and in some cases even fell in the December quarter, but are expected to rise later this year.
A report to be released by Australian Property Monitors today says last year was the weakest for national rental growth since 2002.
The two per cent increase nationally was well down on the average rate of 12 per cent for 2007 and 2008, The Australian rep... read news item »
12 January 2010
PROPERTY OUTLOOK IS SOLID FOR 2010
In the latest ANZ Property Outlook report released recently it suggests that with the first home owner's boost being removed the residential property market will be tested however the shortage and improved investor sentiment will push prices higher.
Economist Alex Joiner said "The remarkable rise in Australian house prices in 2009 has finally silenced the doomsayers. The nat... read news item »
23 December 2009
McMansions out of favour after grant slashed
FIRST home buyers are turning away from McMansions after the Federal Government's halving of the first home owners grant.
About half of would-be first home buyers are looking for a cheaper property, according to the latest Mortgage and Finance Association of Australia/Bankwest survey.
And many of those who are renting while looking for their house feel stuck in an expensive re... read news item »
16 December 2009
Summer Tune Up List for Homes
Archicentre, the building advisory service of the Australian Institute of Architects, has urged Aussie homeowners to protect their homes with a summer tune up.
According to Archicentre , which conducts 20,000 pre-purchase and design reports annually across Australia, many homeowners ignore basic maintenance issues which can develop into costly problems.
With fire prevention a majo... read news item »
16 December 2009
Housing demand to push up rents
Strong demand for housing amid a growing population and record low levels of property construction will help to tighten rental markets considerably, pushing rents higher in 2010 and beyond, a report says.
BIS Shrapnel's latest Residential Property Prospects report found rents are expected to rise by an average of 5.8 per cent a year over the next three years.
This compares with a 5... read news item »
16 December 2009
Is Australian Housing as expensive as we think it is?
Contrary to popular belief, new analysis of housing affordability and incomes shows that Australia’s dwelling price-to-income ratio is 4.1x
Released today, 10 December, this is a summary of the most comprehensive study of its kind. There has been recent bad press about the affordability - or lack thereof - of Australian housing. This research shows that in fact Australian housing ... read news item »
11 December 2009
Homeowners face big bill to escape Westpac
WESTPAC customers who followed Kevin Rudd's call for them to take their mortgages elsewhere could be slugged $1750 in fees that would take up to three years to recoup through savings from lower interest repayments.
Westpac lifted its standard variable rate by 45 basis points last week, hours after the Reserve Bank raised the cash rate by 25 points.
The move prompted an immediate rebuk... read news item »
11 December 2009
Sales likely to remain strong in 2010
Real estate agents can expect to see their sales volumes track closely to the long term averages over the first six months of 2010.
According to RP Data’s director of research Tim Lawless, the latest rate rise by the Reserve Bank is unlikely to have a dramatic effect on the market, although the true impact of the rise is still yet to be identified through figures.
“Any ... read news item »