The most popular suburbs for property deals have been revealed, with the Domain House Price Report showing a trend to sea-change or tree-change hotspots or outer suburbs offering more space. At the same time, inner-city unit markets have been busy, with first-home buyers taking the opportunity to purchase from investors who need the cash while…
When the chief economist of Australia’s largest residential lender has something to say about APRA’s new regulations, I think it’s worth listening Of course, it’s old news by now! APRA, the financial regulator has again decided to interfere in housing markets. They told banks and other authorised lenders that from November borrowers will need to…
Millennials are the first truly mobile generation -they shop and socialise online, embracing all that digital native life has to offer. It’s no surprise they do things differently to previous generations and in the latest McGrath Report, real estate doyen John McGrath explores how the largest portion of Australia’s population: Think about homeownership Tackle the…
Just five months after reaching $8 trillion in value, CoreLogic has announced its estimate of the total value of residential real estate in Australia has surpassed a new record of $9.1 trillion. The surge in value follows the recent broad-based capital gains witnessed across the country, with most housing markets now beyond their peak. The…
The past few weeks have seen mounting speculation around what changes could be coming for the housing lending space. The Council of Financial Regulators, which includes the banking regulator APRA, flagged the need for sound lending standards to be maintained, with signs of “some increased risk-taking” appearing in mortgage lending. Examples of more risky debt…
APRA – the financial regulator for the big banks – has again decided to interfere in housing markets. And once again the justification for this intervention is paper-thin. APRA has instructed banks to increase the interest rate risk buffer for new borrowers from 2.5% to 3.0%. Those applying for a new mortgage will now be…
The facts are in, the average Australian is getting richer. Australian total household wealth (net worth) rose by a record $735 billion or 5.8% to record a high of $13,433.7 billion in the June quarter. Despite all the challenges Covid has thrown at us wealth is up 19.7% on a year ago – the strongest…
Australian homeowners have cashed in on the highest level of profitability in a decade as an overwhelming majority of vendors recorded a profit according to Corelogic’s Pain & Gain Report. More than nine out of 10 home sellers sold for a gain during the June quarter, a 9 per cent increase compared to the first…
What an incredible year it’s been for property prices around Australia. Our major capital cities have seen price growth upwards of 15% – 20% and there is even more growth predicted. What has caused this once-off-type event that has seen property prices soar, with no end in sight? Rewind 12 months and we were supposed…
It’s been a difficult 18 months for Australia’s economy, and one which has seen investors sit out of a soaring property market as the coronavirus pandemic smashed our shores. But it seems there has been a turnaround in sentiment with lending data showing that investors have begun to pile back into the market. Investor loans…
