After a year of lacklustre performance, Australian house prices rose for the first time in 11 months, hot on the heels of the November interest rate by the Reserve Bank of Australia.
If you bought a home over the past 24 years, you have participated in the best-performing investment available anywhere in Australia.
If economists' predictions are anything to go by, we are heading towards further interest rate cuts, possibly as early as tomorrow.
Home ownership may be the great Australian dream, but it's a dream that remains out of reach for many Australians. The State of Australian Cities report by Infrastructure Australia, released last month, highlighted yet again that the rise in Australian house prices over the past decade is among the highest in the developed world.
From January 1, 2012, first homebuyers in NSW will have to fork out an extra $17,770 when buying a property valued under $500,000, thanks to the scrapping of the First Home Plus Scheme.
While most of the nation punts their hard-earned cash on Australia's biggest horse race tomorrow, the Reserve Bank of Australia is tipped to announce an interest rate cut.
Can’t afford to get into the property market just yet? A new report from PRD Nationwide is urging first timers to bite the bullet while prices are soft and suggests that if you can’t afford it, team up with a friend or relative or start small with a stepping stone such as a studio apartment.
Business research and forecasting company BIS Shrapnel has released a new report stating the housing market will begin to recover within the next two years.
In a bid to increase its share of the flagging mortgage market, the Commonwealth Bank has reduced the interest rate on its ‘no fee’ home loan from 7.24 to 7.11 percent. The discounted rate will save mortgage holders around $27 per month on average.
It’s not just the Australian property market that’s in a rut. According to the Knight Frank Global House Price Index, in the first quarter of 2011, house prices rose 1.8 percent globally, compared with 3.3 percent in the final three months of 2010. The figures represent the lowest growth since the end of 2009.
In spite of staunch objection from several non-bank lenders, the Opposition and industry associations, the government’s National Consumer Credit Protection Act ban on mortgage exit fees was passed by the Senate last week and becomes law on July 1, 2011.
Your Investment Property magazine has announced their list of the best mortgage deals now available. The research takes into account not only the comparison rate but also major costs such as deferred establishment fees, upfront and ongoing fees.
Borrowers in NSW are on average closest to suffering mortgage stress compared to those living in the other states and territories, new research has revealed.
The number of homeowners seeking to refinance their home loan to get a better deal has jumped by 5 percent in the first quarter of 2011. Refinancing now accounts for around one in every three home loans approved.
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