First home buyer activity at highest level in years

First home buyer activity at highest level in years

Tweet First home buyers are making a dramatic comeback, with loans to the buyer group hitting a six-year high. The latest ABS Housing Finance figures reveal that first home buyers made up 18.1 per cent of all new mortgages given out during June. The volume of first home buyer occupier lending went up by 11.4 per cent in the 12 months to June, likely spurred on by new government incentives brought in at both a state and federal level last year. Housing Industry Association senior economist Shane Garrett has noted other reasons why first home...

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Falling Aussie dollar could lead to interest rate hike

Falling Aussie dollar could lead to interest rate hike

Tweet The Reserve Bank of Australia will be sitting for its monthly meeting tomorrow and the question on everyone’s mind is whether interest rates are finally going to change after a record long period of holding steady. While most believe that the official cash rate will remain on hold for August at least, there is a warning from a Moody’s Investors Services report that a rise is imminent. The report said that ongoing falls in the Australian dollar could put pressure on the Reserve Bank to lift interest rates to combat price...

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Strong demand for property despite cooling prices

Strong demand for property despite cooling prices

Tweet Property prices may be cooling across the country, but that certainly hasn’t slowed down buyer demand. In fact, it seems to be having the opposite effect. The number of home loan approvals went up by 1.1 per cent to 53,037 from April 2018 to May 2018, according to the latest figures from the Australian Bureau of Statistics. This shows that despite property prices falling more people are committing to home loans, perhaps because they are finally able to pick up a bargain. Data from the ABS also showed that it’s not first home owners...

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Property is number one savings goal for millennials

Property is number one savings goal for millennials

Tweet Move over smashed avocado and Insta-worthy holidays, because the most covetable goal for a lot of young Australians is to buy a property. New research from Westpac found that the number one savings goal for those aged between 25 to 34 year old was a home or property. Westpac analysed the data from customers who used their Westpac Life savings accounts and found that 70% of their millennial customers’ total savings was put away for a future home. Ten times more millennials listed home and property as their number one savings goal than...

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Is now the time to buy, or should you sit on the sidelines?

Is now the time to buy, or should you sit on the sidelines?

Tweet Property prices are easing across the country, so why is it that just when the market is turning in the favour of buyers, many are now expressing concerns about jumping in? May’s CoreLogic home value index results showed that national home values were down by -0.1 per cent over the month, fuelled mainly by price drops in Sydney and Melbourne. Home values in Sydney have fallen by -4.2 per cent over the last year, while Melbourne’s have gone up by 2.2 per cent. There is evidence that things are cooling in Melbourne too however, with a...

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Why you shouldn’t worry about falling property prices

Why you shouldn’t worry about falling property prices

Tweet Recent figures from CoreLogic have shown that dwelling values are down across the country, led by falls in Sydney. Data shows a national decline in property values of 0.4% over the past 12 months, with Sydney values 4.2% lower. While this may sound concerning for a lot of people eager to jump into the property market, there’s no reason to panic just yet. Markets constantly rise and fall People often forget that the property market is always moving in cycles. Prices can’t continue to rise forever, and particularly in Sydney where...

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