News Archive
14 October 2009
Adelaide, Sydney, Melbourne house prices to rise 20 per cent in 3 years
ADELAIDE'S housing prices will increase 23 per cent by the middle of 2012, the biggest rise in values of all the capital cities, and nearly twice the growth rate of Perth and Canberra, according to a new report.
The sluggish Sydney market, which hasn't seen a rise in median house prices since 2003, will turn in the second-best result in the three years from June 2009 to June 2012, with compo... read news item »
14 October 2009
Less demand for fixed home loans
DEMAND for fixed rate mortgage loans fell in September, despite an impending interest rate hike by the central bank, new figures show.
Data gathered by loans broker Mortgage Choice shows fixed rate products accounted for 4.56 per cent of new loans approved in September, down from 6.98 per cent in August.
At the same time, demand for variable rate mortgages increased to 95.44 per ce... read news item »
13 October 2009
How to beat any rate rises
Whether the Reserve Bank raises rates this week or makes do with another warning, giving the mortgage a makeover is a good idea.
The starting point would have to be deciding whether to fret or fix. The answer is don't do either.
So what if interest rates rise? They're still so low you should be paying off more than you have to anyway.
For all the nips and tucks you can make to your mo... read news item »
12 October 2009
Time to fix? Not a chance
A variable mortgage in this climate is a great opportunity to get ahead.
It's the question on everybody's lips now that interest rates have started going up: should I fix my mortgage?
The answer is no – and certainly not all of it. Here's why.
When you fix your rate, you're essentially betting that you know better than your bank the future direction of interest rates – and ... read news item »
06 October 2009
RBA lifts rates
The Reserve Bank has raised its key interest rate, making Australia the first developed nation to reverse the cycle of cuts triggered by the global financial crisis.
Analysts say more increases are on the way. Today's 25-basis-point rise pushes the central bank's cash rate to 3.25 per cent and will add $40 to the average monthly payment for a typical $300,000 mortgage if passed on by commer... read news item »
02 October 2009
Guarantors need mortgage exit plan
Young Australians who buy property by using a family guarantee need to have an exit strategy in place so their parents won’t have the kids’ loans hanging around their financial necks forever, according to Smartline Personal Mortgage Advisers.
Family guarantees are becoming increasingly popular in the face of tightening lending criteria, says Smartline managing director Chris Acre... read news item »
01 October 2009
How to avoid tenant troubles
Property investors who want to avoid any headaches caused by malicious or careless tenants should take four steps to help them sleep easy at night, according to Terri Scheer Insurance general manager Carolyn Majda.
1. Make your property attractive to good tenants
“A rental property that’s well presented and easy to maintain is more likely to attract good quality tenants,&rd... read news item »
01 October 2009
Why buyers need pre-approved finance
Would-be property buyers will have a competitive edge over their competitors if they have their finance pre-approved, Asset Finance Group says.
“If there’s competition from other buyers for the property you’ve found, having your finance in place can put you ahead of the other buyers and improve your negotiating power,” the firm says in a recent newsletter.
“... read news item »
29 September 2009
Rising house prices hurts the vulnerable - RBA
RISING house prices and rents are not making the country any richer and are leaving lower income households vulnerable, the Reserve Bank (RBA) says.
RBA head of economic analysis department Tony Richards said that Australia was at risk of moving towards "undesirably strong growth'' in housing prices that is not being matched by housing supply.
Strong demand for new housing in recen... read news item »
28 September 2009
Last bid for the big Rudd boost
A record number of Sydney properties went to auction yesterday, as first-home buyers rushed to take advantage of generous government cash handouts before they are pared back this week.
The looming deadline for the cash sweetener, combined with what is traditionally one of the busiest weekends in the spring selling season, created a perfect storm in real estate terms – Super Satur... read news item »