Tenants and landlords are left in limbo as to how they will be affected by COVID-19
The national cabinet has agreed to consider advice from Treasurers on commercial and residential tenancies at their next meeting on Friday April 3.Tenants and landlords are left in limbo as to how they will be affected.A six month ban on evictions has been announced, although the plan is yet to be fully outlined.It was nearly a week ago that Scott Morrison said there will "soon b...
Six month moratorium on evicting residential tenants during the coronavirus shutdown
The Prime Minister has announced a six month moratorium on evicting residential tenants during the coronavirus shutdown.There were no specifics in the announcement."Evictions will be put on hold for six months by the states and territories," the PM announced."Landlords and renters are encouraged to talk about short term agreements."More information was to come this week," the official update ad...
Rental market takes a hit from COVID-19
It’s impossible to tell what the future holds for Australia’s property market amid the rapidly evolving pandemic situation. But we are starting to see a change in dynamics on realestate.com.au, and it appears the rental market is the first to be hit. The Federal Government is currently in discussions with state and territory leaders about model rules for landlords and tenan...
The big four banks are letting borrowers hit pause on their payments, but this is no mortgage holiday
There's one question a lot of Australians will be asking at the moment: What if I can't pay my mortgage?The answer in the short term is simple: for now, you'll be OK if you're with the big four banks. You'll be able to keep your home.The longer-term picture is a little murky though.The health crisis brought on by the coronavirus pandemic is producing an unfolding financial crisis and the potent...
Sunshine Coast makes the Five Cities Tipped for Property Investment Growth
Four capital cities and one major regional location are the best picks for investors in 2020 with major infrastructure projects and rental yield driving property investment growth. Although first home buyer loans hit the highest rate since 2009, investor lending also increased 4.9 per cent reveals year-on-year data from the latest Australian Bureau of Statistics report. Major i...
Coronvirus triggers RBA March cash rate call
The Reserve Bank of Australia (RBA) has announced its decision on the official cash rate for March amid speculation the fallout from COVID-19 would force the bank to ease monetary policy.The RBA has announced its fourth rate cut in the past 12 months, slashing an already historically low interest rate to 0.5 per cent.Today’s announcement follows a reduction to 1.25 per cent in June, ...
Which banks passed on the March RBA rate cut?
All 26 home loan lenders who cut their interest rates following the RBA's announcement yesterday have cut in full.It was the first time since October the RBA cut the official cash rate, with RBA Governor Philip Lowe citing the economic effects of the coronavirus as a main driver.The cash rate now sits at a historic low 0.5 per cent.Westpac were the first to cut, minutes afte...
Residential property is outperforming shares
The global sharemarket downturn will grab all the headlines again today.Shares fell sharply in February as investors became increasingly concerned about the spread and increase in novel coronavirus (COVID-19) infection rates globally. Uncertainty about the US presidential election outcome, concerns over lofty sharemarket valuations and worries about the potential virus impact on corporate earni...
Where Is a Mortgage Cheaper Than Rent?
As lending rates for housing reach a series low—and the millennial cohort hit the first home buyer age group of 25-34—more Australians will be keen to make the transition from renting to owning their own home.But with housing affordability resurging as a major challenge against price increases, it is important to highlight where home ownership could be a reality for renters.Corelogi...
