ANZ announces $3.4 billion profit days after latest rate hikes
ANZ announced a Cash Profit of $3.4 billion today, after hiking rates for interest-only lending by as much as 0.40% on Friday.
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Low income renters hurt by high Sydney property prices
It’s no surprise to hear that land prices in Sydney have risen almost 11% in 2016, but it’s not just homebuying hopefuls being affected - low income renters are also feeling pressures from high property prices as demand for rental properties outstrips supply.
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ANZ hikes interest only home loan rates, slashes principal and interest
ANZ has announced changes to its fixed home loan products, which saw interest-only loan rates rise by as much as 0.40%, while principal and interest rates were slashed by up to 0.50%, effective today.
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Budget to “have a crack” at fixing housing affordability issues, says Morrison
Treasurer Scott Morrison has today indicated that the May 2017 Budget will have Australia’s growing housing affordability problem in mind.
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Housing affordability: Property Council of Australia says cranking up supply will help home buyers
A new report by the Property Council of Australia has today pointed to dwelling undersupply as a major hindrance to housing affordability, along with other obstacles such as stamp duty.
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Westpac hits interest only borrowers with latest rate hikes
Westpac has raised the fixed rates attached to nearly all of its interest only packaged loans, in a move that will affect new investor and owner occupier customers.
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CommBank slugs investors with fixed rate hikes up to 0.50%
Commonwealth Bank has announced another sweeping range of rate increases, hiking its fixed rate home loans by as much as 0.50% across 14 fixed rate mortgages.
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Can’t afford a new home in Sydney? Three-quarters of Aussies are renovating instead
In the face of sky high property prices that don’t look like dropping any time soon, Aussies are opting to renovate their home rather than trading in for a newer property, according to Westpac’s Home Ownership Report.
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Will 40 year home loans become the new norm in Australia?
As Australian property prices continue to soar in Australia’s major cities and more and more Aussies retire later in life , over the next few years we could see home loan terms increase from the standard 25-30 years, up to 40 years.
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Negative gearing to stay for the sake of renters, says Morrison
In a pre-budget speech today, Treasurer Scott Morrison said that restricting negative gearing would worsen housing affordability problems for renters and hurt “mum and dad” investors.
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