The Relative Resilience of Property Values
So far, the COVID-19 downturn has had a dramatic impact on agent activity and listings volumes in residential real estate. But the value of dwellings has been relatively resilient.It is still likely that property values will fall amid the downturn. But the decline in momentum across property values has been mild relative to what has happened in market activity.The chart below shows the rolling ...
Will rent reductions put landlords at risk?
LANDLORDS who show leniency to struggling tenants as a result of the coronavirus pandemic could void their right to claim on insurance.The Federal Government last week placed a six-month ban on evictions for tenants who are unable to pay rent due to COVID-19.Prime Minister Scott Morrison called landlords and tenants to work together to come to an arrangement around rental payments.That request ...
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 be an announceme...
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 tenants in the current...
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 infrastructure p...
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, 1 per cent...
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 after the RBA's decision...
