Why didn’t the Australian property market crash?

Graeme Salt News Leave a Comment

Bianca Dabu| Nestegg| 30 November 2020 https://www.nestegg.com.au/invest-money/property/why-didn-t-the-australian-property-market-crash Doom and gloom headlines filled the news as soon as COVID-19 outbreak began, and Australia ultimately headed to its first recession in over 28 years, but no drastic decline was seen in the housing market. How did the Australian property pulled through? 2020 has seen devastation across sectors, with wages down 4.3 per …

Australian property prices are tipped to break record highs by February, as the market shrugs off the pandemic

Graeme Salt News Leave a Comment

Jack Derwin| Business Insider| 1 December 2020 https://www.businessinsider.com.au/property-prices-growth-australia-november-records-2020-12 Property prices are rising in every major Australian market, growing by 0.8% nationally. If they maintain the current pace, CoreLogic head of research Tim Lawless said new records will be set by early next year. “Buyer demand is mostly being fuelled by a surge in owner occupiers rather than investors looking to …

Home owners end mortgage holidays in droves as economy improves

Graeme Salt News Leave a Comment

Matt Johnson| The New Daily| 18 November 2020 https://thenewdaily.com.au/finance/property/2020/11/18/mortgage-holidays/ Nearly 70 per cent of Australians who paused their home loan due to pandemic pressures have resumed repayments as banks encourage customers to assess their options. But the Australian Banking Association has warned a “time of reckoning” lies ahead, with many remaining deferrers only hanging on because of elevated levels of …

Here’s where you can find Australia’s most ‘affordable and liveable’ suburbs

Graeme Salt News Leave a Comment

Matt Johnson| The New Daily| 26 November 2020 https://thenewdaily.com.au/finance/property/2020/11/26/australia-affordable-liveable-suburbs/ Finding a budget-friendly home close to life’s necessities can be a difficult task for any buyer. But new research has attempted to make it a little easier. PRD Real Estate’s ‘Affordable and Liveable Property Guide’ has revealed how capital-city, middle-ring suburbs strike the perfect balance between affordability and liveability. It gave …

Declining mortgage rates expected to continue: RBA

Graeme Salt Knowledge Centre, News Leave a Comment

Annie Kane| Mortgage Business| 25 November 2020 https://www.mortgagebusiness.com.au/breaking-news/15166-declining-mortgage-rates-expected-to-continue-rba The average mortgage interest rate paid by households is expected to continue to decline “for a while yet”, according to the central bank. Speaking at the Australian Business Economists Webinar on Tuesday (24 November), the deputy governor of the Reserve Bank of Australia (RBA), Guy Debelle, noted that the average mortgage rates paid …

Stamp Duty Changes Good for Property?

Graeme Salt Broker 2, News 1 Comment

‘Be careful what you wish for’ goes the old adage. Nowhere is the more true than in proposed changes to Stamp Duty which may have huge impacts on the way the property market operates. Changes proposed by NSW (and likely to be followed by other states will see stamp duty phased out and replaced by a (smaller) property tax paid …

What’s driving interest rates?

Graeme Salt Broker 2, News Leave a Comment

Once upon a time, once-a-month, we waited on the Reserve Bank to announce its cash rate and that determined mortgage rates.  But now there’s a new mechanism of determining interest rates and it impacts how much we pay on our home loans. The RBA has already cut the cash rate to 0.25 per cent (with more to come) at the …

The end of repayment holidays – are we going to see lots of borrowers forced to sell their homes?

Graeme Salt Broker 2, News Leave a Comment

This month, the Australian Banking Association (ABA) released figures showing that the number of mortgages under deferral had dropped to 270,000 meaning that almost half of the households receiving deferrals had started repaying their mortgage and that 82,000 SMEs had also started repaying. Three months before, 470,000 (1 in 11) Australian households and more than 200,000 (1 in 8) small …

Has property reached the bottom?

Graeme Salt Broker 2, News Leave a Comment

Over the years, Australia’s population growth of 250-300,000 a year has been one of the drivers of the property market. Now, with international borders closed, many are wondering if the property market will go into hibernation. Undoubtedly, cutting off immigration and international students will have an impact on property market. But what many commentators have missed is the number of …