News Archive
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 »
09 December 2009
Lonely real estate market for investors
More people are choosing to live alone than ever before, but investors are overlooking the growing popularity of smaller apartments, according to a survey.
PRDnationwide’s recent survey revealed that investors are seeking apartments between 81 square meters and 101 square meters, with only 4 per cent considering apartments under 50 square meters.
Yet, figures from the Austral... read news item »
01 December 2009
RBA lifts rates again
There's more pain on the way for Australia's borrowers with the Reserve Bank today raising interest rates for the third time in as many months.
As widely tipped, the central bank lifted its key cash rate by 25 basis points to 3.75 per cent following its monthly board meeting.
It's the first time the RBA has lifted rates three months in a row. For a typical mortgage holder on a $300,000... read news item »
30 November 2009
Australians have the biggest homes
AUSTRALIANS have the world's largest houses, beating traditional champion the US, however the cost of renting is similarly expanding.
Data commissioned by CommSec shows the Australian house has grown on average by 10 per cent in the past decade to a record high of 214sq m, three times the size of the average British house.
But a second report from BIS Shrapnel has also forecast rents ... read news item »
26 November 2009
Third of Aussies plan to buy property
MORE than one third of Australians plan to buy a property in the next two years despite concerns over higher living costs and rising interest rates, a survey shows.
And 40 per cent of Australians plan to revisit their financial plans as the nation emerges with a more positive economic outlook, the survey, commissioned by mortgage broker Mortgage Choice, found.
Mortgage Choice corpora... read news item »