Red-hot housing market to cool in 2022: analysts

Graeme Salt News, Uncategorized Leave a Comment

Larry Schlesinger| Australian Financial Review| 7 January 2022 https://www.afr.com/property/residential/red-hot-housing-market-to-cool-economists-analysts-2022-predictions-20220104-p59lu4 Rising mortgage rates, further macro prudential intervention, affordability constraints, a pick-up in new housing supply and an increase in property listings are expected to significantly cool the red-hot housing market in 2022, before a moderate downturn in 2023, economists and housing market analysts have predicted. While none of them foresaw the extraordinary …

The Sydney suburbs where prices will climb 4pc a month

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Nila Sweeney| Australian Financial Review| 11 January 2022 https://www.afr.com/property/residential/the-sydney-suburbs-where-prices-will-grow-4pc-a-month-20220110-p59n55 Housing prices are on track to rise 4 per cent a month over the next six months in chronically undersupplied areas of Sydney, defying the surge in listings that has taken some heat out of the market in the NSW capital. Demand most strongly outpaces supply in Pittwater, Warringah and Sutherland, …

Auction or Private treaty

More than 300 suburbs hit $1m+ median price

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Auction or Private treaty

Nila Sweeney| Australian Financial Review| 13 January 2022 https://www.afr.com/property/residential/more-than-300-suburbs-hit-1m-median-price-20220111-p59ndy More than 300 Australian suburbs have crossed the $1 million, median house value in just seven months, with Sydney and regional NSW adding the largest number of new entrants, data from CoreLogic shows. Between May and December last year, 311 suburbs hit a median price of $1 million or higher, lifting …

Why banks are hiking fixed mortgage rates

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Rod Myer| The New Daily| 23 December 2022 https://thenewdaily.com.au/finance/property/2021/12/23/fixed-term-home-loan-rates-rise/ Australia’s major banks are hiking their fixed-term mortgage rates in response to concerns about surging inflation in the US. Anyone wanting a three-year fixed home loan from one of the Big Four banks will have to pay at least 2.89 per cent now. And anyone who wants to fix their loan …

Sydney and Melbourne house prices cool off

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Sezen Bakan| The New Daily| 4 January 2022 https://thenewdaily.com.au/finance/property/2022/01/04/property-market-price-slow/ National property prices rose by more than 22 per cent in 2021, but new data shows the housing boom in Sydney and Melbourne is running out of steam. Figures released by CoreLogic on Tuesday show prices in December almost reached a standstill in Sydney (+0.3 per cent) and went slightly backwards …

House prices rise, investors return – but here’s why we don’t need a lending clampdown.

Graeme Salt Broker 2, News, Uncategorized Leave a Comment

Investors are returning to the property market – but a boil-over seems a long way off. Recent figures from Corelogic shows investors as the fastest growth segment, increasingly outmuscling First Home Buyers. For the fifth month in a row First Home Buyers’ market share dropped. But owner occupiers remained the largest market segment at 52.5 per cent. But, while the …

Don’t miss out on these ultra-low rates

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The era of ultra-low fixed interest rates in Australia might be coming to an end as the last bank with a sub-2 per cent long-term rate has hiked theirs above that symbolic mark. And Australians are being warned not to miss out on some of these great deals. Some of the longer-term fixed rates, often four and five years, are …

Expecting the government to cool house prices? Don’t hold your breath

Graeme Salt Broker 2, News, Uncategorized Leave a Comment

Last month saw bumper returns in the housing market, prompting some to ask whether the government will intervene to cool things down as has recently happened in NZ But those who are expecting a clamp-down don’t understand how lending works nor how a rising property market is key to the Reserve Bank’s plans for our economy’s growth. Sydney property recently …

The huge mistake most mortgage holders don’t know

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Adapted from: The huge mistake most mortgage holders don’t know. Nicole Pedersen-McKinnon| Sydney Morning Herald| 27 February 2021 As the coronavirus pandemic hit last year and budgets threatened to break, CBA sent a letter to mortgage holders saying their repayments would be automatically cut to the minimum. Sounds helpful, doesn’t it? Yes, it eases the purse-string pressure but… it also …