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Property
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 […]
14/03/2017
AUSTRALIAN property investors are set to be hit again as the nation’s largest bank tightens the screws on investment lending. Investors will be forced to stump up larger deposits to buy property after the Commonwealth Bank revealed it would reducing the maximum loan-to-value ratios from 95 to 90 per cent. This means borrowers must have a 10 per cent deposit instead of five per cent which was previously allowed to buy an investment property. This means for a $300,000 property […]
10/03/2017
STATE governments are holding the Federal Government responsible for the big solution to the housing affordability crisis hitting major capitals. Treasurer Scott Morrison is under increasing pressure to use powerful taxation levers in the upcoming Budget to move the market away from investors and in favour of first-home buyers. That could mean reducing capital gains tax relief, and limiting or removing negative gearing tax concessions. The pressure increased today as the Reserve Bank left interest rates untouched while warning that […]
09/03/2017
Soaring home prices in Australia’s biggest cities don’t necessarily mean the country is in the grip of a housing bubble, according to the heads of the big four banks. Testifying at the parliamentary inquiry into banking this week, the chief executives of National Australia Bank, Westpac and Commonwealth Bank all said that while they are worried about elements of the housing market, prices aren’t over-inflated. “I would draw the distinction between a speculative bubble in prices and prices beyond what […]
08/03/2017
Confused about the conflicting terms that real estate agents use to quote the likely selling prices for properties? Then get set for the uncertainty to intensify – at least for the next few months. Many agents are adopting highly divergent approaches to quoting prices in the countdown period to the Victorian government’s introduction of new laws to clamp down on underquoting by agents. The most widely used terms include “offers above,” “price on application” or no price indication at all. […]