We’ll be glad to see 2020 behind us, but at least more Australians are putting their credit card debt behind them at the same time. According to the latest credit and charge card data released by the Reserve Bank today Australians have wiped a staggering $7.31 billion off personal credit card debt this year. Over…
How has the pandemic induced recession affected you? Clearly many people and many businesses have, and still are, suffering. But at the same time more Australians have stashed more of their cash in the banks. They have rapidly amassed close to $100billion in total savings as a buffer against the COVID-19 recession. Household deposits with…
What’s going to happen to interest rates next Tuesday – on Cup Day? Experts are predicting that the Reserve Bank of Australia (RBA) will announce a second rate cut for 2020 at the final meeting of the year. In this month’s Finder RBA Cash Rate Survey™, 43 experts and economists weighed in on future cash…
Have you been waiting for a sign to enter the property market? I speak with many investors who want the waters to be “just right” before they dive in. I understand their reasoning and it is probably even more understandable given the year we have had! But, I believe the right time is when you…
Christmas might be coming early for thousands of borrowers with a home loan. An October 2020 Finder survey of 968 Australians with a home loan found 1 in 3 (34%) will refinance over the next year. With 2.9 million mortgage holders in Australia according to ABS census data, that’s nearly 1 million (986,000) Aussies intending…
Anyone who has been in the property investment sector for a while knows all too well that it takes a long time to understand its golden rules. If only we all understood them when we were in our 20s, instead of many years later. Of course, these days, there are a plethora of books, blogs…
For many coming out of Lockdowns around the country, who wouldn’t be attracted to the sun, sand and surf that is the Queensland coast? I know many seaside locations that are fast becoming the destination of choice for many. You only need to pick up a paper or check a property market headline to see…
The world of real estate investment has changed significantly over the years. Two decades ago, most buyers still had to read about listings in the newspaper or see them in an agent’s window. Then technology changed everything, with properties for sale found on specialist real estate websites, which meant buyers from everywhere could consider adding…
New ABS Lending Indicators data released today shows new home lending rose in August, despite the fact that Melbourne, the country’s second largest property market is in lockdown. The value of new home lending increased by 12.6% in August, following an 8.8% rise in July based on seasonally adjusted figures. This has been the largest…
Australia’s banks have continued to cut home loan rates for new customers, despite no RBA cash rate move in the last six months. Ahead of tomorrow’s RBA board meeting, RateCity.com.au has analysed how much home rates have dropped since the last cut. The Reserve Bank last lowered the cash rate on March 19, down to…