At a time when rent prices are boiling over and homebuyers are being priced out of the areas they work in, Labor’s Federal Budget for 2022-23 provides a modicum of hope for the future of affordable housing.
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Six consecutive months of interest rate hikes have taken a heavy toll on the Australian property market, with Sydney home values falling by 10.1% — the equivalent of $116,500 — since hitting their peak in February this year.
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Australia has seen a significant decrease in rental properties available under $400 per week, says a new PropTrack Market report.
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The Reserve Bank of Australia has lifted interest rates at a rapid pace this year, most recently by 0.25% at its October meeting. Economists at all four major banks expect the tightening cycle to continue as the central bank ramps up its efforts to tame inflation.
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Australian property has had a bumpy year, with falling prices, rising interest rates, and slowing sales leading to an overall cooler market than we started with in 2022. Many buyers have sensed a promising window of opportunity, but is now really a good time to buy in?
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Aussie borrowers looking for lower rates, faster approval processes and flexible lending terms are deserting the big banks in earnest for more competitive smaller lenders, and in 2022 a handful of non-bank lenders in particular stand out from the pack.
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Interest in rival mortgage lenders is surging after the Reserve Bank's string of back-to-back rate hikes, as Aussie borrowers look to offset the pain of rising rates by securing better value home loans.
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With housing affordability on many Aussies’ minds, it’s no surprise that Labor has proposed several housing policies to combat skyrocketing property prices.
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This year’s spring selling season seems to have wilted. Despite CoreLogic reporting plenty of new listings hitting the market over September, successful sales and prices lagged behind averages. Properties sat on sale for longer (33 days) while vendor discounts fell to a nationwide median of -4%.
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Investing in property has amazing benefits, from rental income and tax deductions to impressive capital gains. But even a casual browse of home loans reveals that investors tend to get saddled with higher interest rates than owner-occupiers. What gives?
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