- Suite 17 / 79 Manningham Road, Bulleen VIC 3105
- 0406 197 099
- hello@pmafinance.com.au
Economy
15/03/2017
The Sydney and Melbourne housing markets are continuing to “defy belief” but banks have warned that government measures designed to address affordability could actually drive up prices. National Australia Bank chief economist Alan Oster said property prices were showing no signs of slowing, despite growing concerns about affordability two months out from the federal budget. The analysis from NAB shows median dwelling prices have climbed up to nine times higher than gross household incomes in Sydney and seven times higher […]
15/03/2017
If interest rates start to increase, do you expect any change in property prices in the short to medium term? Any increase in interest rates would mean mortgage repayments would rise, putting pressure on household budgets; also, people buying properties would find it harder to qualify for a loan. These factors combined would put downward pressure on property but, of course, the effect on an individual property would depend on its location and price range. The pressure would be less […]
15/03/2017
The Reserve Bank is considering tighter bank lending standards amid concern about how the financial system would handle a collapse in housing prices, beginning with Brisbane apartments. The Bank’s assistant governor (financial system) Michele Bullock told a business event in Sydney that the Reserve Bank was particularly uneasy about the “looming oversupply of apartments in Brisbane in particular, and possibly in some parts of Melbourne”. Sydney apartments were less of a worry. “There are indicators that, in the event of […]
14/03/2017
JOB security is chief among the concerns of Australian mortgage holders, with new research revealing 41 per cent of families fear they may not be able to service their home loan if their employment situation changed. Loan protection insurance provider ALI Group commissioned the survey of 1000 Australians to identify the main concerns people have around their mortgage and found job security caused sleepless nights for 36 per cent of all mortgage holders. Single workers with kids were more worried […]
14/03/2017
INTEREST rate rises will be on the minds of many in the world of finance this week, but Australian home buyers should be safe, for now. Economists and analysts believe the US central bank is almost certain to increase its official interest rate when it meets midweek, possibly the first of four rate rises for the world’s largest economy. However, Australia’s Reserve Bank — which left its official rate unchanged at 1.5 per cent last week — is widely expected […]