News Archive
07 July 2009
RBA stays put on rates
After a meeting of the central bank's board, the RBA left its cash rate at 3 per cent, a 49-year low - the same rate that has applied since its last cut in April in response to a slowdown in the economy.
The RBA has slashed 425 basis points from interest rates since September in an effort to shield Australia from the worst effects of the global recession.
When it announced its ''no-... read news item »
06 July 2009
Google maps Australian property market
GOOGLE has added a real estate search to its Google Maps application in Australia - letting users quickly check out a property's "location, location, location" online.
The search covers buying and renting and lets users filter properties by type, price, location and real estate agent.
The properties are then displayed on the map, which automatically updates with relevant listings... read news item »
01 July 2009
How your life changes from July 1
YOU may not have won the $106 million lottery last night but from today you will still receive a (small) share of the Government's $3.4 billion tax cut jackpot.
The new financial year means that the 30 per cent income threshold is increased from $34,000 to $35,000 and the 40 per cent tax rate is reduced to 38 per cent. An individual on $40,000 a year will get an extra $2.88 a week, while someo... read news item »
27 June 2009
First in, best dressed
Lower stamp duty, climbing values and high rent are compelling reasons to buy a new apartment.
A shiny new stovetop instead of one that bears the burns and grease of generations. A shimmering lap pool in place of a tired bed of weeds. A modern glass balcony rather than a brick-walled monstrosity that you can barely see over.
The advantages of buying a new apartment and now clawing back h... read news item »
25 June 2009
Stamp duty on home loans to be scrapped
Stamp duty on housing loans is set to be abolished after the Henry tax review, which is likely to recommend states be given a share of income tax to make up the difference. The most likely path to do this would be for the commonwealth to give the states the ability to impose their own surcharge on income tax, which would be collected for them by the Australian Tax Office. The Henry review... read news item »
25 June 2009
Home prices to 'edge up'
Climbing unemployment poses only a limited threat to the value of home prices, which will continue to rise this year, according to an industry report released today.
ANZ Bank said the possibility of rising joblessness "looms as a cloud over the horizon" but "is likely to present as a second-order influence on housing market outcomes."
"Policy stimulus and tight fund... read news item »
22 June 2009
Cash, property still leading the way
CASH and residential property, Australia's two most popular investments, have proved the strongest performers in today's volatile markets, outstripping almost every other asset class and super fund. According to an analysis of investment returns, residential property has offered the highest total returns during the past three years and cash has come in second place for the past five years. Whil... read news item »
16 June 2009
Banks fall into line on home loans
Westpac and National Australia Bank have followed the Commonwealth Bank in raising their fixed-term home loan rates in the wake of the storm unleashed by the country's largest lender in raising the price of its standard variable mortgages. In a further sign the major banks are prepared to weather criticism that they are squeezing consumers amid the economic downturn, the cost of longer-term mor... read news item »
10 June 2009
First-home buyers at all-time high
THE percentage of first home buyers in the market has swelled to the highest level on record, data out today shows. First home buyers now make up 28 per cent of all dwellings financed, which is the largest proportion recorded since the Australian Bureau of Statistics began collecting the data in 1991. The number of housing loan approvals rose by 0.9 per cent in April, the seventh monthly rise i... read news item »
06 June 2009
Spotlight on Sydney
Foreigners and expats are snapping up apartments in our best developments. Global economic gloom may be easing in Sydney's apartment market, with Frasers Property Group confirming it will plough ahead with its 1500-plus apartment development at the Carlton United Brewery, which was put on hold earlier this year. Offshore demand from Australian expats and foreign investors buying Sydney apartm... read news item »