Your next mortgage may not be with a bank.
By Graeme Salt You want to buy a house; your first call is often to your bank. But increasingly, many non-bank lenders are finding solutions to would-be home buyers when the bank says no. Sometimes, highly-regulated banks just won’t lend you enough for the expensive Australian property markets. This image shows the borrowing capacity of […]
Can’t save a 20pc deposit? Four ways to buy property sooner
By Graeme Salt Amassing a down payment remains a huge hurdle for aspiring buyers, despite easing house prices. A house deposit generally needs to be 20 per cent of the value of the property if buyers want to avoid paying what’s called lenders mortgage insurance (LMI). LMI protects lenders from losing money if a borrower defaults and […]
How Much Does a Sydney Renovation Cost?
The Federal Budget has shifted the focus of the property market. Now, for many, the owner-occupied home may be the most tax-effective means of wealth creation. And many are currently looking at home improvements to boost their wealth. But how much does a reno cost? Hipages has produced the below figures to give you an […]
Rents vs wages – how do they compare by city?
By Graeme Salt Extract taken from realestate.com.au/insights In all of Australia’s capital cities, rents have outgrown wages. Perth has had the largest increase in rents relative to wages, with rents increasing by 80 percentage points more than wages. That increase has placed significant pressure on household budgets, as wages have not kept pace. The proportion […]
New loans for tech workers
By Graeme Salt Work is changing – and so are the people who can get special deals from the banks. In the past, professions such as lawyers, accountants and doctors received favourable treatment from banks. But now, one lender has thrown the door open to tech employees who work for: • Adobe Inc • Alphabet […]
When it comes to property, we need a Bex and a lie down.
This week saw a number of separate pieces of research which showed the future for the housing market. There has been much hand-wringing on the state of the property market – with Cotality’s national Home Value Index (HVI) dropping 0.4 per cent marking the largest month-on-month fall since December 2022. But we all need to […]
Do trees make cities more liveable?
By Graeme Salt Cities around the world are planting more trees to cope with rising urban heat. And parts of Melbourne are 18°C more comfortable due to tree planting. But recent academic research shows trees alone are often not enough. In some cases, the wrong kind of greening can even make streets feel less comfortable on […]
The easiest way to save your home deposit
By Graeme Salt Saving for a first home is already hard enough. So when a federal budget change appears to make some popular savings strategies less attractive, it is no surprise people are worried. Since the rent budget, concern has centred on young Australians who are using shares or exchange-traded funds (ETFs) to save for a […]
A Dickens of a property market
By Graeme Salt “It was the best of times, it was the worst of times” Charles Dickens A Tale of Two Cities The budget is already having a huge impact on the property market, with investors now focussing on new-builds thus giving owner occupiers less competition. This week, many of my clients have shown the […]
Are you a winner in this budget?
By Graeme Salt This budget really created winners and loser. It is a first step in tilting the balance in favour of younger, working Australians trying to buy their first home. For decades, the housing market has been geared in favour of older investors such as me. The budget will sweep away many of the […]