One of the nation’s biggest banks is tipping Sydney and Melbourne property prices to rise more than 20 per cent by the end of next year while warning first-time buyers are reaching their financial limits. A National Australia Bank report led by chief economist Alan Oster is predicting home values will continue to surge this …
Sydney, Melbourne home prices tipped to rise more than 20 per cent Read More »
The $8-billion Western Sydney Airport line, the final stage of the $27-billion Sydney Metro network, has secured planning approval with construction on track to begin at the end of the year. The additional 23km of metro railway will branch off and run from St Marys station to five new stations including two at the Western Sydney International …
National rents reported their fastest annual growth in more than a decade last financial year. Data released by CoreLogic on Monday shows national rents soared 6.6 per cent as the economic recovery beat expectations and record amounts of government stimulus flowed into Australian bank accounts. House rents increased in all capital cities over the financial …
Sydneysiders currently locked down at home due to Covid-19 could be better supported financially through a national package that will be available to all small businesses and home loan customers. The Australian Banking Association announced the support package on Friday for customers affected by continuing COVID-19 lockdowns or those recovering from recent lockdowns. Possible support …
National support packing to help struggling residents in lockdown Read More »
The Reserve Bank of Australia has opted to keep the official cash rate at its current record-low following its latest board meeting, but a number of economists say that growing inflation means rates will rise earlier than predicted. One third of economists surveyed by comparison website Finder predicted an increase in the official cash rate …
Why interest rates could be set to rise in 2022, and what it means for homebuyers Read More »
The Reserve Bank is carefully monitoring lending standards as investors add heat to the property market, joining home buyers with a fear of missing out. Property prices are surging in all markets and rising demand for credit is also a concern, as Australia already has high levels of household debt. “We’re watching very carefully the …
Investor lending for housing has hit a six-year high, helping firm predictions the “up-crash” in the sector will continue. New loan value commitments for investor housing rose 13.3 per cent month-on-month, a 116 per cent increase since May last year, which was the lowest since November, 2002, according to Lending to Households and Businesses data …
