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

Graeme Salt Knowledge Centre, Uncategorized Leave a Comment

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 …

Investors Look at Options in Downward Market

Graeme Salt Broker 2, News, Uncategorized Leave a Comment

REAL ESTATE RENEE MCKEOWNMON 30 MAR 20 Investors are looking at their options with homes pulled off the market, leases extended and auction clearance rates dropping in-line with Covid-19 economic uncertainty. Forty per cent of auctions were pulled from the market and clearance rates dropped to 51.4 per cent on the weekend according to Corelogic. Buyers and sellers were urged to …

Australian banks will defer loan repayments for small businesses affected by COVID-19 for six months.

Graeme Salt Broker 2, News, Uncategorized Leave a Comment

20 March 2020. Australian Banking Association CEO Anna Bligh today announced a small business relief package from Australia’s banks. “This Assistance Package will apply to more than $100bn of existing small business loans and depending on customer take up, could put as much as $8 billion back into the pockets of small businesses as they battle through these difficult times,” …

Housemate horror: How your flatmates affect your mortgage rates

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Kilian Padstow| The New Daily| 25 February 2020 https://thenewdaily.com.au/finance/your-budget/2020/02/25/housemate-credit-rating-mortgage/ Share house living is common practice among money-conscious people, but research shows picking bad housemates could cost Australians almost $180,000 in later life. The exorbitant expense arises because renters typically share the responsibility for paying bills and rent on time. This means if one person misses the due date – or …

‘Fear of missing out’ back for Sydney first-home buyers as prices rise

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Kate Burke| Domain| 23 February 2020 https://www.domain.com.au/news/fear-of-missing-out-back-for-sydney-first-home-buyers-as-prices-rise-932720/ First-home buyers are pressing ahead with their dreams of home ownership, rushing to buy in inner and middle-ring suburbs as rapid price growth threatens to push them further out of reach. The number of first-home buyers jumping into the market and how much they are prepared to borrow has soared in recent months, …