Author: Otto Dargan
Australian Property Market Update 2020: All Eyes On Sydney & Melbourne
Sydney dwelling values rose by 6.2% during the fourth quarter of 2019, followed closely by Melbourne dwelling values, which increased by 6.1% — a very good sign for the Australian property market. Housing markets in both Sydney and Melbourne gained momentum in the Australian...
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bookmarkTags: Australian property, Melbourne, Property Market, property market update, Sydney
7 Infrastructure Projects In Sydney To Push House Prices Up
The last quarter of 2019 (Oct-Dec) saw an impressive 6.2% growth in Sydney house prices – the best performing capital city. However, compared to the 2017 peak, house prices are still down 6.4% in Sydney – this is about to change. Mortgage interest rates are at...
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bookmarkTags: Property Market, Sydney
How Do You Adjust To Comprehensive Credit Reporting?
Did you know following the introduction of comprehensive credit reporting, your credit score can drop by 22% following just one missed credit card repayment? – even if you’ve never missed any credit card repayments before this. Misconceptions surrounding comprehensive...
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bookmarkTags: comprehensive credit reporting, Credit Score, Equifax, Experian, Illion
Property Market Update – Sydney Growth Largest Since 1988
According to CoreLogic’s national Home Value Index, Sydney dwelling values saw the largest increase in a month since 1988, growing by 2.7% in the month ending November. This is the most significant single increase over a month in Sydney prices since 1988. In addition, Melbourne...
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bookmarkTags: Australian property, Melbourne, Perth, Sydney
NAB In, Westpac Out Of The First Home Buyer Scheme
The NHFIC announced NAB as the first major bank that will be offering home loans under the federal government’s First Home Loan Deposit Scheme. The scheme allows first home buyers (FHB) to qualify for a home loan with a deposit as low as 5% and pay no Lenders Mortgage Insurance...
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bookmarkTags: first home loan deposit scheme, first time home buyer
Should Banks Automatically Adjust Home Loan Repayments?
93% of home loan borrowers are making more than the minimum home loan repayments off the back of cash rate cuts by the RBA. This is because currently, banks do not automatically adjust repayments. Basically, if a customer is paying P&I (principal and interest) then...
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bookmarkTags: home loan repayment, repayment
Sydney And Melbourne House Prices To Soar Again By 12%
Sydney and Melbourne house prices are expected to grow by more than 12% by the middle of next year, according to ANZ economists. While most property reports and predictions are forecasting modest growth, ANZ is predicting a sharp rebound following the Reserve Bank’s...
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bookmarkTags: Australian property, Brisbane, Melbourne, Sydney
Can Afterpay Affect Your Home Loan Application?
Buy now pay later services like Afterpay and ZipPay are raising questions with lenders about a borrower’s ability to repay their home loan. It gives the impression that borrowers do not have sufficient amounts of cash on standby and are living paycheque to paycheque. Banks...
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bookmarkTags: Afterpay, home loan applications
How To Buy When The Market Is Rising?
The market is heating up! According to CoreLogic data, Sydney and Melbourne are now rising markets with a sustained dwelling growth of 3.5% and 3.4% this quarter as of 30 September 2019. In addition, combined capital city auction clearance rates have surged above 70% and...
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bookmarkTags: Pre approval, Property Buyers
RBA Says: Expect An Extended Period Of Low Interest Rates
Great news for borrowers! The Reserve Bank of Australia’s Governor Philip Lowe says that the cash rate will stay low for the long term. In its 4 September meeting, the RBA has decided to keep the cash rate unchanged at 1%, which means that borrowers can enjoy a longer...
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bookmarkTags: cash rate, fixed interest rates, Interest Rates, RBA, variable interest rates