Young Aussies rate home ownership above travel and career

Young Aussies rate home ownership above travel and career

Tweet People’s priorities may change throughout their lives, but for those under 30 it seems that home ownership is high on the list of wants, beating out travel and other life events. The finding comes from a survey commissioned by comparison website, comparethemarket.com.au, which found that owning a property was rated the third most important “life factor” after health and family.  Almost 1300 Australians were asked to take part in the survey and rate from 1 to 5 how important certain life factors were. There were 11...

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Why the first home buyer market is tipped for growth

Why the first home buyer market is tipped for growth

Tweet Things may finally be falling into place for the first home buyer market, with declining property prices and industry and regulatory changes making that first step into the property market easier than it has been for a long time. No more mortgage ‘stress tests’ Getting home loan approval can be a big hurdle for a lot of first time buyers, but the APRA has recently announced it will be softening rules around mortgage stress tests, which should make things a little easier for borrowers. The ‘stress test’ meant that...

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Fear of auctions is causing buyers to miss out

Fear of auctions is causing buyers to miss out

Tweet Property affordability is improving across the nation, however some buyers may be missing out on some great deals because they don’t want to bid at auctions. New research from Westpac’s Home Ownership Report has revealed that over half (56%) of home owners looking for their next property purchase admit they are too scared to buy at an auction, with 46 per cent saying they aren’t confident they know what to do.   Westpac’s data shows that auction numbers have declined over the last year against a softening market,...

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Do voters want negative gearing to change?

Do voters want negative gearing to change?

Tweet Everybody has been given the chance to find out where they sit on the political spectrum thanks to the popular ABC Vote Compass survey, which has provided some useful insights about how Australian voters view particular policies. One of the highly contentious policy debates of this year’s election is undoubtedly negative gearing, with the Labor Party planning to limit negative gearing to new housing from January 1 next year. So what do voters really think about this strategy – are they for or against it? Vote Compass...

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Aussie borrowers are confused about basic mortgage concepts

Aussie borrowers are confused about basic mortgage concepts

Tweet Despite property being one of the biggest financial investments that many will make in their lifetime, new research has found that almost half of property seekers don’t understand some common mortgage terms. Westpac’s Westpac’s latest Home Ownership Report, which surveyed over 1,000 Australian home owners looking to purchase their next property, found that almost half didn’t understand some key home financial concepts, such as ‘equity’ (49%), an ‘offset account’ (48%) or exactly what refinancing is...

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The good and the bad from scrapping negative gearing

The good and the bad from scrapping negative gearing

Tweet Negative gearing is a hot topic of discussion in the lead-up to the Federal Election on May 18, but what would changes to the current policy really mean for Australians? For those confused about what negative gearing means, it’s essentially when the income from an investment property (i.e. the rent) is exceeded by the costs to hold into it. While making a loss on a property is never the ultimate goal of an investor, Australia’s negative gearing policy currently allows property investors to deduct their property losses from...

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