Richard Gluyas| The Australian| 23 June 2022 https://www.theaustralian.com.au/business/financial-services/council-of-financial-regulators-closely-watching-housing-market-for-financial-stress/news-story/f81e7d9ea6c66788424489b8cb80f9bf The Council of Financial Regulators is keeping a close eye on emerging risks in the housing market, amid rising pressure on household budgets from banks passing on Reserve Bank rate hikes to their customers. The CFR, which had its regular quarterly meeting of the four main financial […]
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There’s no doubt that Covid has radically changed the property market. It has also revolutionised mortgages. With 67 per cent of loans now written by brokers, the old business model of just walking into your branch is dead. And, with Covid often causing banks to close branches, the only reliable fact is that a borrower […]
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https://theconversation.com/vital-signs-whats-wrong-with-australian-mortgages-theyre-fixed-for-shareholders-not-home-owners-176234 Richard Holden| The Conversation| 4 February 2022 If you’re paying off a mortgage – or aspiring to – imagine if you didn’t have to worry so much about rising interest rates. That’s already the reality for US home buyers. Unlike in Australia, most mortgages in the US have a fixed-interest rate, locked in for […]
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https://thenewdaily.com.au/finance/property/2022/02/09/banks-house-prices/ Matthew Elmas| The New Daily| 9 February 2022 There has been a big change in the outlook for house prices in the past week – two of Australia’s major banks are now predicting the biggest crash in decades. After two years of rapidly rising prices, most home owners have gained more wealth from their […]
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https://www.pexa.com.au/news/australias-property-market-hits-688-billion-in-sales-up-57-in-12-months PEXA News Release| 9 February 2022 The Australian property market has proven its strength as the backbone of the nation’s economy during the global COVID-19 pandemic, with the national aggregate value of property sale settlements growing a massive 57% from 2020, with Australians spending more than $688 billion on property in 2021. The Property and […]
[...] https://www.mortgagebusiness.com.au/breaking-news/16488-housing-supply-needs-to-be-more-flexible-rba-governor Annie Kane| Mortgage Business| 14 February 2022 The supply of “well-located” land needs to be addressed to improve housing affordability, the governor of the Reserve Bank of Australia, Philip Lowe, has said. Speaking to the House of Representatives standing committee on economics for its hearing on monetary policy on Friday (11 February), the governor […]
[...]The Adviser| 25 September 2018 https://www.theadviser.com.au/breaking-news/38291-86-of-investors-to-secure-next-loan-through-a-broker An increasing number of property investors are looking to secure their next loan through a mortgage broker as they seek alternative finance solutions amid tighter lending policies. According to a survey of 820 property investors from the Property Investment Professionals of Australia (PIPA), 86 per cent of property investors […]
[...]Peter Beaumont| The Adviser| 25 September 2018 https://www.theadviser.com.au/blogs/38294-brokers-should-ready-their-business-for-ccr Brokers are being urged to review important business processes ahead of a new credit reporting framework coming into effect later this week. Comprehensive Credit Reporting (CCR) begins on Friday, 28 September, when the country’s largest banks will begin sharing customer repayment histories with other lenders. As part […]
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Isabelle Lane| The New Daily| 7 August 2018 https://thenewdaily.com.au/money/property/2018/08/07/out-of-cycle-rate-hikes-predicted/ The big four banks are expected to raise mortgage rates despite the Reserve Bank decision to keep the official cash rate steady. The RBA announced on Tuesday the official interest rate would remain on hold at 1.5 per cent. The decision continues a record-breaking streak of official interest rate stability, marking two years […]
[...]Rod Myer| The New Daily| 27 July 2018 https://thenewdaily.com.au/money/finance-news/2018/07/27/smaller-banks-mortgages/ If you’re in the market for a home mortgage you’re likely to get a better deal from the small banks, according to research from Moodys Investors Services. Moodys has found that small and medium-sized banks have better deals on offer than the big four which hold […]
[...]Rebecca Pike| Australian Broker| 20 August 2018 https://www.brokernews.com.au/news/breaking-news/introducing-ccr-lending-behaviour-253836.aspx The head of a credit reporting facility has said brokers will need to be aware of lenders’ new risk appetite, including risk-based pricing, after comprehensive credit reporting (CCR) is introduced. The way lenders report borrowers’ credit information is changing and the major banks now have until the […]
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Pete Wargent BlogSpot| 11 September 2019 https://petewargent.blogspot.com/2019/09/net-arrivals-close-to-300k-per-annum.html For the first time in a while there was a decrease in the rolling annual number of permanent and long-term arrivals into Australia, at 844,680 (up from 818,480 a year earlier, and close to the record highs). Departures have declined over the past couple of months, so the […]
[...]Su-Lin Tan| Australian Financial Review| 16 September 2019 https://www.afr.com/property/residential/why-the-housing-mini-boom-won-t-last-20190916-p52rqi The current housing mini-boom triggered by two rate cuts will run out of steam, according to UBS. Weak credit growth, little pick-up in new housing development and very low levels of homes listed for sale in Sydney and Melbourne suggest there may not be enough fuel […]
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Michael Bleby| Australian Financial Review| 17 September 2019 https://www.afr.com/property/residential/sydney-median-house-price-rises-to-875-000-20190917-p52s44 Sydney’s median house price rose to $875,000 in the June quarter, marking the first increase in a year as buyers returned to the market after the federal election and greater optimism about prospects for the property market. The higher median price – up from $870,000 in […]
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Hannah Dowling| Mortgage Business| 6 August 2019 https://www.mortgagebusiness.com.au/breaking-news/13673-sydney-price-correction-close-to-an-end The NSW capital’s auction clearance rate hit its highest point in over two years last month, suggesting a market rebound, a new Domain report showed. According to Domain’s Sydney auction report card: July 2019, the clearance rate for Sydney auctions hit 69 per cent in July, the […]
[...]The Real Estate Conversation| 12 August 2019 https://www.therealestateconversation.com.au/news/2019/08/12/household-financial-comfort-dragged-down-residential-property-price-falls-and Financial comfort in Australian households has dipped following residential property price falls and a weakening of the labour market, new research from ME Bank has revealed. The institution’s Household Financial Comfort Report has indicated people have been feeling worse about their net wealth, jobs, income and living expenses in the […]
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Ingrid Fuary-Wagner | Australian Financial Review | 30 June 2019 https://www.afr.com/real-estate/residential/best-month-for-sydney-auctions-in-almost-two-years-20190630-p522o1 Cashed-up buyers who have been biding their time and waiting out the downturn are now starting to make their move as selling agents report an influx of inquiries, more people through open homes and stronger competition at auctions, albeit it with very few properties […]
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