News Archive
28 January 2010
Handouts for first-home buyers
Be it a grant, a boost or a concession, there is helpful cash available to realise the great Australian dream.
The First Home Owners Boost, which was introduced in October 2008, came to an end on December 31 but there is still assistance for first-home buyers. The $7000 First Home Owners Grant (FHOG) remains in place and most of the states and territories have additional benefits.
If y... read news item »
28 January 2010
Investors' rights at risk, agent warns
Planned changes to New South Wales tenancy legislation shift the balance of power too far in favour of tenants and could drive investors out of the market, according to Laing+Simmons general manager Leanne Pilkington.
The NSW Office of Fair Trading recently released the Residential Tenancies Bill 2009 , which is anticipated to be introduced this year.
The government is at risk of causing... read news item »
28 January 2010
How to keep your cool when installing insulation
Insulation manufacturer Bradford has provided five tips so homeowners and investors who are looking to install insulation in their properties can get the best result.
If all eligible households took up the rebates offered under the Federal Government's Energy Efficient Homes Package, Australians could save close to $550 million in one year on their electricity bills, Bradford claims. Bradfor... read news item »
28 January 2010
House prices record strong growth
House prices are at all time highs in most capitals after more buying in expensive suburbs drove the strongest annual price growth in seven years.
The medium-to-long- term outlook for property prices remains strong as the population grows, incomes rise and demand for houses outstrips new supply, says an Australian Property Monitors' report.
Despite a sluggish start, 2009 ended with t... read news item »
25 January 2010
Home price rises worth the wait
Last year was a big one for Sydney property values, with the average home rising about 12 per cent on 2008 prices.
That is the highest annual growth since February 2004. Such strong growth has been a long time coming for Sydney.
While other cities enjoyed relatively buoyant market conditions, Sydney values remained mostly in the doldrums.
On an annual basis, Sydney values declined fo... read news item »
21 January 2010
Westpac requires higher deposit for first-home loans
FIRST-HOME buyers will have to stump up at least $37,500 as a deposit to get an average home loan from Westpac - or $12,500 more than before - under lending policy changes that came into force yesterday at the bank.
Westpac advised its managers and mortgage loan brokers that new customers will not secure a loan unless they can meet a loan-to-valuation ratio of 87 per cent, instead of the f... read news item »
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 »