Author: Otto Dargan
Labor Government Schemes To Help Home Buyers
Labor’s win in the 2022 Australian elections brought a change in the government schemes available to first-home buyers and those who currently don’t own property. What Government Home Buying Schemes Are Available After The 2022 Election? The Labor government has introduced...
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bookmarkTags: First home Buyer, government scheme
ANZ: Housing Affordability Will Decline
The findings from the latest ANZ CoreLogic Housing Affordability Report found a deterioration in housing affordability due to rapid increases in house prices and rental costs. The report analysed housing affordability in the March 2022 quarter based on four metrics: Dwelling...
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bookmarkTags: property affordability
Super Home Buyer Scheme
error The Super Home Buyer Scheme was proposed by the Coalition. Since the Coalition lost the 2022 federal election, this scheme will not be available. With affordability already low and a decreasing housing supply, Prime Minister Scott Morrison has announced a proposal...
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bookmarkTags: First home Buyer
Sydney & Melbourne Drag Down Housing Market
CoreLogic’s data revealed the home value index for April 2022 showed national growth of 0.6%. This is the lowest reading since October 2020. Sydney and Melbourne are the two cities with the heaviest weighting in the home value index. Sydney was down 0.2% for the third...
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bookmarkTags: Australian property market, property market update
RBA Increases Cash Rate To 0.35%
The Reserve Bank of Australia (RBA) increased the cash rate by 0.25 percentage points; taking the historically low cash rate to 0.35%. An increase in the cash rate causes the interest rates on variable-rate mortgages to go up as well, as most lenders, including major...
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Flood Relief Packages For 2022 | What Support Is Available?
The major banks in Australia have announced their financial relief packages for customers affected by significant flooding across southeast Queensland and parts of northern New South Wales. The following services are now available to customers whose finances the current floods...
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bookmarkTags: disaster relief package, flood relief package, lenders policies, relief measures for flood victims, relief schemes
Home Guarantee Scheme Price Caps Increasing For 2022-23
The government has announced higher price caps for 2022-23 for parts of its expanded Home Guarantee Scheme, which includes the First Home Guarantee (formerly the First Home Loan Deposit Scheme), the Family Home Guarantee and the proposed new Regional Home Guarantee. (Note:...
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bookmarkTags: Family Home Guarantee, First Home Guarantee, Home Guarantee Scheme
2022 RBA Interest Rate Forecast: Bad News For The Property Market?
The Reserve Bank of Australia (RBA) is finally considering hiking its cash rate, for the first time in more than a decade. The RBA has pushed its cash rate to record lows since 2011. When COVID-19 hit Australia in 2020, the central bank set its interest rate at 0.1 per cent,...
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bookmarkTags: cash rate, property market news, RBA interest rate
Regions, Smaller Capitals Surge As Sydney And Melbourne Slow
CoreLogic data revealed that the home value index was up 0.7% in March 2022. During the first quarter of this calendar year, dwelling prices in Australia rose 2.4%, adding about $17,000 to the value of a home. Within these national numbers, there was a notable split between the...
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bookmarkTags: Australian property market, property market update
Federal Budget 2022-23 | Home Guarantee Expands Into Regions
The 2022-23 federal budget had plenty for prospective home buyers, as the government announced expansions to its current home guarantee schemes, with a new regional home guarantee and other measures. There is also tax relief for low-to-middle-income families, plus new funding...
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bookmarkTags: Australian Federal Budget, budget 2022