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NEWS
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 […]
17/03/2017
THE Reserve Bank is prepared to do more to slash rampant investor activity in the housing market, its assistant governor has confirmed. Michele Bullock, RBA assistant governor financial system said the “essence of macroprudential policy is that prudential supervisors recognise potential system-wide risks in their supervision of individual institutions and react accordingly”. She said regulators were continuing to monitor ongoing effects of housing risks “and are prepared to do more if needed”. Ms Bullock said three years ago Australian regulators […]
17/03/2017
ANZ still thinks that the US dollar is likely to strengthen against Asian currencies over the next two years, despite its recent stumble. “While the current Fed policy normalisation is gradual and we believe that Asian economies are well placed to weather it, we continue to expect further USD strength against Asian currencies,” says Khoon Goh, head of Asia research at ANZ. “There will be a further narrowing in the yield differential between US and Asia, and higher US bond […]
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 […]