Who do you ask for property advice – whether it’s for your next home or a property investment? Let me tell you who not to listen to – don’t take advice from reality TV shows! In fact working with inexperienced or unqualified self-styled “property experts” can result in buyers purchasing a dud for an overinflated…
Rapidly rising interest rates have seen Aussie property investors forced to fork out tens of billions of dollars in extra mortgage repayments, new analysis has revealed. Property Investment Professionals of Australia (PIPA) calculations show the characterisation of landlords as greedy by some politicians are way off the mark. Based on figures and assuming averages, property…
A policy that caps residential rents was always going to get headlines for politicians. Any suggestion to keep the cost-of-living down – now, will sound like a good idea in the current environment. But according to the REIV rent freezes and caps are a naive view of the wider economy. And I agree. Rising rents…
Australia’s total credit card bill attracting interest charges has dropped for the second time in nine months to a total of $17.73 billion. This is despite the fact the number of credit card accounts rose for the ninth month in a row, to a total of 12.6 million, according to new RBA data released today….
Wesptac Bank has recently upgraded its forecast for our housing market. Westpac now expects prices to rise 7% nationally in 2023 but the pace is expected to slow in 2024 as affordability becomes extremely stretched. Now that’s a turnaround because in April this year Westpac had forecast prices to track flat overall nationally this year, followed…
Australia’s home price recovery has hit a milestone, with national property prices now higher than a year ago according to the latest Proptrack Home Price Index Despite the sharp reduction in borrowing capacities that accompanied the 12 interest rises home prices have reversed much of 2022’s falls according to Eleanor Creagh, Senior Economist at Proptrack, Creagh explains…
The gap between the interest rates being paid by existing and new borrowers is narrowing Existing bank customers are starting to be rewarded for their loyalty with home loan rate discounts that could save borrowers over $1,000 in the first year alone, according to new insights from Canstar. Canstar’s analysis of Reserve Bank lenders’ Interest…
Rich Chinese property investors are eyeing up Australia, with over 700,000 expected to migrate overseas in the next 2 years. The latest ranking from Juwai IQI shows that Australia ranks number one as the top overseas destination for Chinese property hunters. Australia comes ahead of all other global markets, including Canada, the UK, and the…
Three of the big banks, CBA, Westpac and ANZ, believe the cash rate has already peaked at 4.10 per cent, with only NAB expecting one more hike later this year. CBA, Westpac and NAB economic teams updated their cash rate forecasts on the back of yesterday’s RBA Board meeting, with changes to both the expected…
The Reserve Bank has left the cash rate at 4.10 per cent, announcing a pause for the second meeting in a row, and third time this year. The key explanation was a desire to take more time to assess the impact of the increase in rates to date and the economic outlook. The Board also…
