Australia’s biggest bank – the CBA – jus upgraded its housing market forecast, joining the long line of economists that have done a 180° about-face. CBA economists think Australia’s housing market is “on the cusp of a boom”, saying that surging momentum in the property market and leading indicators pointed to strong price rises. They…
With romance scams at an unprecedented level ahead of Valentine’s Day, Australians are advised to do their homework on any would-be suitors. According to the Australian Competition & Consumer Commission’s Scamwatch, there was a 30 per cent increase in romance scams reported for 2020, with over 3,500 scams inflicting losses of more than $37.2 million….
Are you, or someone you know looking to buy a property this year? Statistics suggest that more than two-thirds of Australians believe NOW is a good time to buy real estate. So, chances are it is either you, a friend, a family member or even all of the above. Of course, it will be another…
Fuelled largely by a reduction in ‘assessment rates’ – the interest rate lenders use in their serviceability calculations, borrowing capacities for certain clients have increased 10% over the past couple of months. Here are two examples from recent tests we’ve done for clients… * NAB broker serviceability calculator, accessed 15 November 2020 (previous version) and…
Australia is one of just five nations – the others being Taiwan, China, Vietnam and New Zealand – who enter 2021 very well-placed economically, according to the recent Deloitte Access Economics Business Outlook. Their chief economist Chris Richardson is upbeat about 2021. So much so, his business outlook for the year is: “We got this.”…
Latest home building approval numbers have predictably surged off the back of the federal government’s Home Builder scheme – the first phase of which expired at the end of December. The ABS reports that national private sector home building approvals seasonally adjusted increased by 11.5% over December to new record highs. Dwelling approvals were also…
Have you heard about the new “green” projects in and around Brisbane? I have written previously with regards to the bigger projects underway in Brisbane such as the Brisbane CBD expansion, lead by the Queens Wharf project and Brisbane Airport Upgrade. Being our largest hubs, they are also the most visible and will set the…
The value of home loans settled in the month of December has hit another record high, thanks to record-low rates, generous government incentives and borrowers’ fear of missing out. Data out today dovetails with CoreLogic’s national home value index, which are now above pre pandemic levels and hit a record high in January. The…
Australian median house prices have hit record highs new in every capital city bar Darwin and Perth. According to Domain’s House Price Report for the December quarter latest median house price in Sydney now sits at $1.21 million. Melbourne’s property prices have staged a massive comeback, rising 5.3 per cent in the last three months of 2020,…
National rental rates rose by 0.6% over the month of December, taking national rents 1.9% higher over 2020 calendar year; the largest annual increase since 2018. Rental conditions in 2020 were diverse with regional markets outperforming capital cities. Combined capital city dwelling rents rise 0.8% quarterly to be up 0.7% over the year, while regional…
