One of Australia’s major banks has reduced its serviceability floor rate by 0.30% to now sit the lowest of the big four. Westpac’s new 5.05% rate comes in below ANZ’s 5.25%, CBA’s 5.40% and NAB’s 5.50%. The bank has also announced it is undoing a number of its temporary COVID-19 assessment measures, including reinstating the …
The Financial Stability Review showed banks’ share-to-price book ratios have recovered from March but they are still below pre-pandemic levels “reflecting a decline in the earnings outlook and a reduction in investors’ risk appetite”. According to stress test simulations in the report showed banks have sensitivity to falls in GDP, property prices and unemployment. Despite …
For your purchase or investment, these are suburbs you should AVOID. The RISK for off-the-plans property is HIGH and you should be aware. The 10 high-risk suburbs: – Melbourne, Victoria, 3000– Docklands, Victoria, 3008– Mascot, NSW, 2020– Rouse Hill, NSW, 2155– Parramatta, NSW, 2150– Gosford, NSW 2250– Darwin, NT, 800– West End, Qld, 4101– Surfers …
Looking to buy real estate? Avoid units in these postcodes Read More »
On Thursday Westpac broke ranks with the other big four banks to lay down its latest thinking, expecting the property market to get through the pandemic relatively unscathed before booming. Months ago Westpac predicted national prices to fall by 10% and to recover a little more than 8% by 2022. However this week, chief economist Bill …
As the coronavirus crisis drags on, an increasing number of families from Melbourne and Sydney are quitting the city for sunshine and space in Queensland. Agents say some are snapping up homes on the Gold Coast without even viewing them as virtual tours become the new norm. Andrew Bell from Ray White Surfers Paradise said …
Sydneysiders snap up property in the Sunshine State amid COVID crisis Read More »
Sydney-based developer Crown Group is moving ahead with plans for its controversial $460 million residential development in Brisbane’s West End. Crown Group originally submitted its application for a FJMT-designed scheme in January 2018, soon after picking up the 1.25-hectare site—the former home of Computershare—at 117 Victoria Street for $35 million. Crown Group placed the project on hold in …
On 27 July, the New South Wales government announced eligible first home buyers could access stamp duty exemptions on new home purchases worth up to $800,000. New home builds will also see stamp duty discounts available for purchases between $800,000 and $1 million, where the discount reduces with a higher purchasing price. The policy is …
The Impact of Stamp Duty Discounts on the NSW Housing Market Read More »
An emerging narrative around regional dwelling markets is that they may see increased demand as a result of COVID-19. This is thought to be driven by the way the pandemic has forcibly introduced remote work for knowledge-based or clerical workers. As employers and employees adapt to remote working conditions, physical proximity to a workplace may become …
Can regional housing markets benefit from COVID-19? Read More »
Australia’s real estate industry has been put to the test in 2020, and while the coronavirus pandemic has forced the sector to slow down, first-home buyers are doing the opposite. Play Video COVID-19: The surge in first home buyer activity 02:25 Since the beginning of the year, we have seen a surge in first-home buyer …
First-home buyer enquiry surges as buyers navigate the COVID-19 market Read More »
Since the announcement of the Federal Government’s HomeBuilder scheme, enquiries to developers on realestate.com.au have surged to record levels. Buyer appetite for new homes is surging, with enquiry to developers jumping by 62.8 per cent in June. This spike followed on from a bullish 53.9 per cent increase in May. All signs suggest the announcement …
