https://www.brokernews.com.au/news/breaking-news/economists-predict-interest-rates-will-surge-soon-despite-reserve-banks-assurances-279534.aspx Mina Martin| Australian Broker| 7 February 2022 Economists remain adamant when it comes to predicting a cash rate increase this year, despite Reserve Bank of Australia’s latest economic forecast suggesting it might be some way off. RBA’s quarterly statement on monetary policy predicted faster economic growth in the near term as well as a […]
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Daniel Ziffer| ABC| 7 February 2022 https://www.abc.net.au/news/2022-02-07/threat-of-postcode-discrimination-in-credit-scores/100723574?fbclid=IwAR36VZplMBBVdFVzo7YDscYRWs92ab_vJNQ-7i9-SPHlscyAeKvbn7hkI9M Where you live could determine if you can get a mortgage, with Australia’s biggest credit scoring company now applying postcode data when assessing applications. Key points: People’s credit scores are used by banks in determining if they should be approved for loans and credit cards Market leader Equifax […]
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A new approach to lending could have a dramatic impact on whether Australians can get a mortgage. A letter sent from the Australian Prudential Regulation Authority (APRA) to the banks shows how it is developing an arsenal of weapons to stop the market getting away from itself. Already this month, lending changes enforced by APRA […]
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Tawar Razaghi| Domain| 10 November 2021 https://www.domain.com.au/news/clearance-rates-drop-as-more-homes-hit-the-market-potentially-tipping-in-buyers-favour-1102611/?utm_campaign=strap-masthead&utm_source=smh&utm_medium=link&utm_content=pos5&ref=pos1 The property market’s high tide could slowly be turning, agents say, as more homes hit the market, stricter stress tests on borrowing kick in, the RBA signals rate hikes earlier than expected and the end of lockdowns mean potential buyers are booking overseas holidays rather than shopping for […]
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Annie Kane| Mortgage Business| 11 November 2021 https://www.mortgagebusiness.com.au/breaking-news/16240-apra-consults-on-new-credit-risk-management-approach?utm_source=MortgageBusiness&utm_campaign=Mortgage%20Business11_11_2021&utm_medium=email&utm_content=1&utm_emailID=8a8e1573aa7aed348b3ce216911220f449b12b769f3b1261337d04577713208e Debt-to-income ratio limits and serviceability buffer changes are to be embedded into APRA’s standard for credit risk management. The Australian Prudential Regulation Authority (APRA) has written to banks asking for feedback on proposed its proposal to ‘formalise and embed’ credit-based macroprudential policy measures within its prudential standard for credit risk. […]
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Lucy Dean| Yahoo Finance| 30 October 2021 $47,000 gone: Major new mortgage rules from Monday (yahoo.com) Australians hoping to buy property will be forced to prove they can repay their mortgage if rates rise 3 per cent, under new rules coming into place on Monday 1 November. The Australian Prudential Regulation Authority (APRA) announced the higher […]
[...]Rebecca Pike| Australian Broker| 26 October 2018 https://www.brokernews.com.au/news/breaking-news/first-home-buyers-at-highest-level-in-8-years-256609.aspx Lending to first home buyers has grown by 74% in Sydney in the last year, according to a report released this week. QBE’s Australian Housing Outlook 2018-2021 also looks at property price prediction and expects house prices to grow over the next three years, apart from in […]
[...]Isabelle Lane| The New Daily| 17 September https://thenewdaily.com.au/money/property/2018/09/17/housing-crash-60-minutes/ A television report alleging Australian home prices could crash by as much as 40 per cent in the next year has been slammed by property experts. Titled “Bricks and Slaughter”, the 60 Minutes report by journalist Tom Steinfort focused on a “nightmare” scenario outlined by Digital Finance Analytics principal Martin North. It predicted “two-fifths of your home’s […]
[...]Brendan Coates| The Conversation| 24 July 2018 https://theconversation.com/migrants-are-still-buying-into-the-dream-of-home-ownership-but-its-becoming-more-elusive-100246 Recent Australian migrants are buying into the Great Australian Dream of home ownership. But rates of home ownership among recent migrants are falling, as they are among all Australians. Unless we build enough housing to match Australia’s growing population, all Australians, including migrants, will pay the price. […]
[...]Melissa Heagney| Domain| 21 August 2018 https://www.domain.com.au/news/thousands-of-australians-forced-into-rental-stress-report-highlights-income-disparity-20180821-h147ad-759186/ Renters living in the inner-suburbs of Melbourne, Sydney or Brisbane are spending nearly half of their wages on rent – so much that renting is becoming as unaffordable as buying, according to a new report released on Tuesday. Many other Melburnians, Sydneysiders and Brisbanites are spending over 30 per cent of an […]
[...]Charlotte Hamlyn| The New Daily| 19 August 2018 https://thenewdaily.com.au/money/property/2018/08/19/baby-boomers-moving-back-grown-kids/ In a tough housing market, more and more young people are opting to stay living at home for longer. But there is another growing trend — baby boomers moving back in with their adult kids. And it is by choice. Research suggests about one in five […]
[...]Isabelle Lane| The New Daily| 17 July 2018 https://thenewdaily.com.au/money/property/2018/07/17/carpark-glut-city-apartments/ A glut of parking spaces may be unnecessarily pushing up the cost of inner-city apartments, a property expert has warned. “Over half the residents of inner Melbourne do not own cars, and many people are paying for a space that they do not want or need,” said […]
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