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Property
19/03/2017
TWO down, two to go. Westpac has joined rival National Australia Bank in hiking mortgage interest rates for investors and owner-occupiers. Interest-only investor loans will be hardest hit, increasing by 28 basis points to 5.96 per cent per annum. Principal and interest investor loans will increase by 23 basis points to 5.79 per cent. The bank will also raise its owner-occupier rate by three basis points to 5.32 per cent, while interest-only owner-occupier loans will increase by eight basis points […]
19/03/2017
If you’re slogging it out in a 9-to-5 job for what feels like a pittance, you’ve got the double whammy of rising house prices and a low income, and the goal of home ownership can seem even more hopeless. According to the Australian Bureau of Statistics, the average annual earnings for Aussie employees is just over $60,000, a level at which the tax office gives you a low-income tax offset. So there are plenty of others out there scratching their […]
16/03/2017
National Australia Bank will tap the brakes on a resurgent investor market by hiking interest rates on variable home loans for property investors, while also increasing rates for owner occupiers. The bank will lift the variable interest rate on owner occupiers’ loans from 5.25 per cent to 5.32 per cent, and on residential investment home loans from 5.55 per cent to 5.80 per cent, from next Friday. “Clearly the investor market is seeing very strong levels of demand across Australia, […]
16/03/2017
THE Australian property market is a complex beast. Prospective homeowners are so desperate to get a foothold in the housing game they’re putting off having children as they front up to dozens of open houses and auctions each weekend trying to find their forever homes. Yet in the very same suburbs, foreign investors — predominantly Chinese buyers — are snapping up properties they’re happy to let languish unoccupied with no intention of ever living in them. What’s seen as the […]
15/03/2017
The bad news for would-be homeowners is that on a range of measures Australian property is still overpriced. The good news, at least for those that own a house, is there’s not going to be a crash. Well, there won’t be if we can avoid falling into a recession and interest rates don’t go through the roof, both of which are looking “unlikely”, according to AMP Capital’s chief economist Shane Oliver. The only other way there could be a crash […]