News Archive
31 January 2008
Credit growth solid despite turmoil
Reserve Bank of Australia (RBA) figures show credit growth stayed solid through to the end of 2007, despite two interest rate hikes last year and the disruption in global financial markets stemming from the sub-prime loans crisis in the US. Credit provided by financial intermediaries to the private sector was up by 1.1 per cent in December, seasonally adjusted, to be 16.5 per cent up from a ye... read news item »
31 January 2008
Housing industry feels interest rate pain
NEW home sales fell in the final month of 2007, the second consecutive monthly decline, as higher interest rates and further pressure on house prices bit into the new home building industry. Figures released today by the Housing Industry Association (HIA) show overall sales of new homes and apartments fell by 1.3 per cent in December. Sales of apartments actually grew by 5.1 per cent in the m... read news item »
14 January 2008
ATO warns on rental property claims
PEOPLE who plan to dive into the investment property market this year are being warned by the Australian Taxation Office to avoid making mistakes. It said there were some common mistakes made when claiming rental deductions and the penalties could be costly. "The comprehensive tax office guide, Rental Properties, can help investors get it right first time,'' the ATO said. It said there... read news item »
07 January 2008
Exit fees squeeze loan churners
EARLY exit fees on home loans can cost you thousands of dollars, but they can be avoided. Before taking out a loan, people should get advice on what fees would apply in particular circumstances, and have a clear understanding of their short-term goals, senior banking officials said. InfoChoice general manager Denis Orrock said deferred establishment fees, early exit fees and br... read news item »
07 January 2008
Broker reform can't be fast-tracked
THE New South Wales opposition had called for the fast-tracking of new laws to eliminate dodgy mortgage brokers. In November, NSW Fair Trading Minister Linda Burney unveiled a draft bill to reform the mortgage and finance broking industry in Australia. Under the reforms, brokers would be subject to a licensing process, in a bid to screen out operators with a history of dodgy lending practice... read news item »
13 December 2007
Unemployment rise eases interest-rate pressure
THE unemployment rate rose for a second consecutive month in November to 4.5 per cent, easing the immediate need for another rise in interest rates. The seasonally-adjusted rise in the unemployment rate compared with an upwardly-revised 4.4 per cent in October and a 33-year low of 4.2 per cent in September, Australian Bureau of Statistics data shows. Economists had expected the November... read news item »
06 December 2007
Top 20 a rock solid investment
HOW would you like a blue chip investment, with minimal risk, that could have some worrying moments but stands the test of time? A few weeks back this investment had returned 130 per cent over a 10-year period or 13 per cent per annum. But wait, it gets better, because this timeframe included the tech-wreck market dive that got a lot of superannuation fund managers on to many of their me... read news item »
06 December 2007
A record $22.5M for home
ALBERT Bertini, his wife Heather and their three young sons have received an early Christmas present. So has the chain of people involved in the family's purchase of a Mosman waterfont home for $22.5 million, the price of which represents a suburb record. Raine & Horne chief executive officer Angus Raine said Karawa beat the previous record for a Mosman house by more than $7 million. In a... read news item »
05 December 2007
Spring in sales not dampened by election
Sydney has recorded its strongest spring sales season since 2001 despite the federal election interruption. The 64 per cent clearance rate was well up on the 52 per cent rate last spring, according to Australian Property Monitors . It coincided with a big jump in spring auctions, with 5610 house and unit auction listings compared with 4880 listings in 2006. But the gap between the outer fring... read news item »
28 November 2007
Climate for change in housing
Laws should be passed to ensure every Australian house for sale passes tough new standards of environmental sustainability, a peak building body has said. Archicentre, which advises the Royal Australian Institute of Architects, said the recent release of a damning United Nations climate change report meant it was time for dramatic action. Archicentre managing director Robert Caulfield said: ... read news item »