According to a report by a housing action group, an average Sydney-sider needs to spend more than 8 years worth of salary to purchase a home in Sydney. This represents an increase from 5 years of salary in 2001. This is still a problem despite the fact that most states have seen a drop in [...] [...more]
According to reports in the media, at least one of the big four banks is showing hesitation to provide property development loans both residential and commercial, given the perceived risks in many projects. The Australian reports that according to documents they were able to access at least 61 projects across Australia have been tagged as having [...] [...more]
While over the past 12 months there has been little activity in the property and home loan markets from First Home Buyers, this is likely to change in the near future. Speaking to The Adviser, Century 21 chairman Charles Tarbey said first home buyers and first time upgraders will dominate the market during the [...] [...more]
A downturn in Australia’s property market will only contribute to concerns of a two-speed economy in the resource-rich nation. Mining profits are bursting at the seams due to heavy demand from China and other fast-growing Asian countries, while consumer businesses and manufacturing have gone into hiding from concerns about the prospect of growing [...] [...more]
Baby Boomers are under a lot of financial pressure. Not only have their superannuation investments been loosing money due to dramatic drops in the stock market, their children are counting on financial assistance to purchase of their own properties. One in three Gen Yers claim they can’t afford to buy a home without financial assistance [...] [...more]
A new survey of Gen Ys has identified that while majority are happy with property as an investment tool, fewer are considering home ownership. The Mortgage Choice First Time Property Investors Survey has found 43% of Gen Y respondents will put off buying a home for themselves to purchase an investment property. There are a [...] [...more]
Refund Home Loans has decided to enter the real estate market, with the opening of its first real estate office in South Brisbane due shortly. Executive chairman of the Refund Group, Wayne Ormond, has voiced the groups intention to open a network of real estate offices across all states over the next few years. Just [...] [...more]
Current rental income growth is well below the rate of inflation, but this may well change in the short term. As new research from RP Data shows, capital city rents over the past year have only increased by just 2.7%, while Australia’s latest annual inflation rate is 3.3 per cent. RP Data found Brisbane’s median [...] [...more]
Bargain hunters looking to make a property purchase in the post-flood Ipswich property market are having a difficult tome finding a lender who will agree to provide home loans in flood affected areas. Herron Todd White senior valuer Brett McGrath said despite 3300 homes being written off and 1700 needing repair from [...] [...more]
Yesterday’s budget failed to address any of the housing affordability issues facing Australia. In announcing the Budget last night, Treasurer Wayne Swan announced a number of policies and strategies on development of skills, training and skilled immigration, as well as improvements to allow more private investment in large public infrastructure. While these are positive and [...] [...more]
