“This would leave the possibility for a softer landing later down the track, with housing finance commitments and building approvals data likely to show emerging signs of weakness during the first half of year,” Pollock said.
“But managed well, and combined with an expectation for high and sustained population growth, the housing market will continue to be a pillar of the Australian economic prosperity and jobs [...]
The Australian Bureau of Statistics (ABS) figures published on Tuesday reports that mortgage lending among investors in November had risen by 4.9 percent from October.
While the total value of dwelling commitments excluding alterations and additions rose 0.6 percent in the same corresponding period.
The total value of owner occupied housing commitments was flat in November as rises were [...]
The number of individual home loan applicants put forth with the bank had fallen by 9 points to 35 percent out of all loans over the past two years with home loan applications produced by women falling by 14 points in comparison to 5 points among single men.
The figures are based on the bank’s customer data of 40,000 home loan applications the bank had received in the last two years.
But it’s not all doom and gloom as New South Wales-based singles have been experiencing the greatest jump in an average loan amount, rising by 16 percent [...]
The research found that 70 per cent of the respondents interviewed by the bank had concerns for the Australian economy (55 per cent), housing affordability (44 per cent) and household debt level (42 per cent).
Off the back of 2016’s #smashedavo gate, an inter-generational furore into Millenial’s discretionary spending, it is encouraging to see that saving money is a top priority for more than a third of respondents (34 per cent), followed by paying down debt (25 [...]
In a statement on Monday, the bank said its second, third and fourth-year package fixed rate for home loans would increase effective today, to 3.98 percent, 4.09percent, and 4.59 percent per annum respectively.
While the package fixed rates for the second, third, fourth and five year for residential investment home loans will change to 4.19 percent, 4.29 percent, 4.79 percent, and 4.79 percent per annum respectively.
However, the bank will lower its one-year package fixed rates for home and residential [...]
The company’s latest set up in New South Wales (NSW) comes just four months after it opened offices in Brisbane, Melbourne, the Gold Coast and the Sunshine Coast.
Established in the UK in 2014, Purplebricks has settled over 150 residential properties in Australia through auction and private treaty sales to deliver an estimated $1.7 million in savings back to sellers, the company said in a media release on Monday.
The company’s more cost-effective and fairer ways have attracted hundreds of home homeowners on a monthly basis to start [...]