Home loan activity has continued its recent decline as falling affordability driven by booming house prices increasingly constrains buyers. The ABS data reveals that the total value of home loans seasonally adjusted fell by 1.1% over July which follows similar declines over June. Although home lending has fallen over recent months, activity remains at near…
The past 16 months have seen remarkable levels of adaption in the real estate sector, government stimulus and economic decline and recovery. Amid renewed and extended lockdowns, some indicators suggest the housing market has been even more resilient to lockdowns in 2021 than through 2020. But there is some suggestion not all pockets of the…
First homebuyer numbers are now in decline as the targeted stimulus fades. However, investment loans are now solidly on the increase – offsetting the decline in first-time buyers – leaving total housing lending ex-refinancing flat for another month at $32 billion. Only Canberra/the ACT hasn’t rolled over in terms of first homebuyer numbers, with everywhere…
Property prices have soared around Australia at a time when wages growth has been minimal or nonexistent for many. An analysis by the Real Estate Institute of Australia shows the proportion of income needed to meet loan repayments has jumped from about 27 per cent two decades ago to almost 36 per cent in June…
Will Covid Delta derail our property markets? The answer is NO according to the latest ANZ Bank research. Our housing markets remain in very good shape with national house prices continuing to rise strongly, even in Sydney where increasing levels of mobility restrictions have been in place since June. According to ANZ, ultra-low interest rates,…
The total value of new loans rose in July, according to new ABS Lending Indicators data. The increase in lending coincides with the start of the Sydney lockdown and a record volume of loans refinanced to a new lender. New home lending increased by 0.2% from the month prior to reaching $32.12 billion in July….
In a July 30 tweet, Greens leader Adam Bandt claimed house prices are rising by $1,200 a day, warning that younger workers have been locked out. Is he right? Well ABC fact-checked him and concluded he was “overreaching”. According to the Domain/APM data, the median Sydney house price surged by $106,948 over the June quarter to…
How will the Delta Coronavirus impact our housing markets? That was the subject of a recent Westpac Housing Pulse report. Given the lags involved, both for impacts and data collection, Westpac believes it will be several months yet before we get a clear view of how the latest COVID disruptions have impacted our property markets….
Australia’s housing markets are entering very tricky territory as the return of major virus disruptions combine with what has been an extraordinary boom that is starting to run into affordability constraints. According to the latest Westpac Housing Pulse report, telling whether underlying conditions are hot or cold is going to be exceedingly difficult in the…
We hear it time and time again: it’s tough to save for your first home deposit. And I’m not going to argue with that. It is tough. Saving for anything big takes a fair amount of self-discipline, dedication, and hard work. But it’s not impossible. There are many reasons why now is a good time…
