Even though the property market has cooled from its pandemic-induced peak, Australia’s sky-high inflation, soaring cost of living, near-record-high interest rates and tightening lending requirements mean many would-be first-home buyers are still struggling to get their foot onto the property ladder. And those who are homeowners might be struggling to keep up with hiking repayment costs….
In today’s changing property market where there are fewer good properties for sale than there are buyers, there are some who may wonder what are the benefits of hiring a real estate professional to help them in their home search. Other homebuyers figure that in today’s fast-paced world, where answers are a Google search away, and…
Australia’s population grew at its fastest rate in more than 13 years in 2022. According to the latest figures released by the Australian Bureau of Statistics (ABS), it grew by a whopping 1.9 per cent in 2022. We recorded an increase of 496,800 people through 2022, driven by the nation’s single largest annual intake of migrants, …
Cash-strapped Aussies are turning to gambling as a ‘quick fix’ as expenses spiral out of control, According to new research by Finder almost 1 in 5 Australians (18%) have increased their gambling habit over the past year. That’s 3.6 million Aussies who have upped their spending on everything from powerball to pokies. The research found…
The RBA Board decided to hold interest rates steady at 4.1% in July to provide additional time to assess the outlook for the economy. In the Governor’s statement today, the RBA said: “further tightening of monetary policy may be required to ensure that inflation returns to target in a reasonable timeframe, but that will depend…
Relationship breakdowns are hard on everyone and particularly so if there is property involved. During such an emotional time, financial missteps can be made which may have long-term implications. So what are the biggest property mistakes people make when a relationship ends and how can you avoid them? Trying to sell under the radar In…
You often hear location is paramount when choosing a great investment property. But what makes a good location? While a lot of factors come into play, easy access to facilities must be near the top of the list. Walking distance to transport, shops and the café lifestyle is one of the strongest trends attracting buyers…
As new policies, prices, thresholds and eligibility criteria move into the new financial year, a raft of changes is coming into effect from the 1st of July. From young Aussies looking to buy their first home to retirees dependent on the pension, these new rules will have some pocketing more dollars, while others are forced…
Have you considered refinancing your loan? Maybe you’re wondering how much borrowers need to pay to refinance their home loans? According to Canstar, the average cost to refinance an owner-occupied home loan in Australia is $803. This includes fees such as the discharge, application, valuation, documentation, legal and settlement costs. Canstar pointed out that to…
In good news for those stuck in “mortgage prison”, Australia’s biggest bank, CBA, has announced it will lower the stress test on select refinance applications from 3 percentage points to just 1 percentage point. By the APRA guidelines, banks are required to subject all new mortgage applications, including refinancing, to stress tests. But moves by…
