A home improvement loan is a term that is increasingly being used in Australia but is largely a US phrase that’s been imported. It describes a type of loan that is a separate product to the mortgage you might already have and is generally used to renovate a property. People may choose a home improvement…
There are many differences between methods of sale between the different states around Australia. Understanding these differences can be a big advantage, especially if you are an out-of-town buyer looking to compete with local buyers and property experts. Here are the methods of sale for residential property in Queensland and how they work. Auction Our…
2021 will be remembered as a year when our property market defied the odds and boomed. Domain’s End of Year Wrap shares an overview of the year and Dr Nicola Powell, Chief of Research & Economics for Domain, defines 2021 as the year we re-imagined our homes. She explains: The challenge of grappling with a…
Australian property values are seeing a slowdown in the monthly rate of growth. This trend is expected to carry into 2022, as affordability constraints rise, mortgage rates bottom out, and a higher number of new listings takes some pressure off market conditions. Since the monthly rate of growth in Australian dwellings peaked in March 2021…
The way we live is changing, particularly in Sydney and Melbourne – which means the way we invest in the property needs to change, too. As our world adapts to a new, post-COVID reality, the preferences of property buyers are evolving. Prior to the onset of the pandemic, more and more Aussies were trading their…
National home lending has continued to fall over October despite the easing of severe lockdown restrictions in Sydney and Melbourne. The outlook for lending activity remains mixed with rising affordability barriers and the satisfaction of pent-up demand acting to reduce home-buying activity. The ABS reports that the value of home loans seasonally adjusted (excluding land…
So, will inflation raise its head and lead to higher-than-expected interest rates? Five reasons for low inflation 1. Unionised labour is now a fraction of what it used to be. Large collectively negotiated annual wage increases appear to be a thing of the past. This is turn has led to lower inflation. 2. The world…
Where is the property market now? What’s driving poor affordability? How big is the risk of financial instability? What can be done about both issues? And what’s the outlook for home prices? These and other questions were raised and answered by Dr. Shane Oliver, Head of Investment Strategy and Economics and Chief Economist at AMP…
The recent record surge in home lending has clearly peaked, with loan activity over October falling for the fifth consecutive month. Although owner-occupiers and first home buyers have reported consistent declines in activity since May, investor lending has continued to rise. The original value of investor loans increased by just 0.4% over October to $9.87bn…
The recently released ANZ CoreLogic Housing Affordability Report showed wide-scale declines in housing affordability through the current upswing. At the national level, the ratio of housing values to household incomes reached a new record high in June, as did the number of years it takes to save a deposit, and the portion of income required…
