31 lenders offering home loan rates under 2 per cent
A record 31 lenders are offering, or set to offer, at least one mortgage rate under 2 per cent – almost triple the number before last week’s RBA cut.Already 17 of these lenders have advertised rates under 2 per cent, while a further 14 lenders will make their new rates available in the coming days. RateCity.com.au database analysis: • 41 lenders have so far announc...
Green cover becoming a major concern in some urban areas
Australia’s largest urban greening initiative has today revealed 67 per cent of suburbs and cities across the country will face significant challenges in growing and maintaining green cover in the future, as our cities grapple with a rising population and grey spaces expand with urban development.A new report "Where Will all the Trees Be?" by Greener Spaces Better Places investigates the changi...
Australians are now upsizing not downsizing, CommSec reports
Photo by John O'Nolan on Unsplash Australia is building the biggest homes in the world once again.A new CommSec Home Size Trends report found that new houses built in Australia during the 2019/2020 financial year were on average 235.8 square metres, a 2.9% jump and the biggest increase in 11 years.Average apartment sizes have ballooned as well, up 6% to a decade high of 136...
Cash Rate Reduced by 0.15% to a record low of 0.10%
Statement by Philip Lowe, Governor: Monetary Policy DecisionAt its meeting today, the Board decided on a package of further measures to support job creation and the recovery of the Australian economy from the pandemic.With Australia facing a period of high unemployment, the Reserve Bank is committed to doing what it can to support the creation of jobs. Encouragingly, the recent economic data ha...
Proposed Planning Scheme Amendment
unshine Coast Council is proposing to change the zoning and local plan area boundaries for specific sites located at Bli Bli, Chevallum, Forest Glen, Landsborough and Yandina.Council is inviting feedback on the proposed amendment to the Sunshine Coast Planning Scheme 2014, relating to Additional South East Queensland Regional Plan (SEQRP) 2017 Sites and Other Zoning Matters.The pu...
Government to lift lending restrictions
Something changed last week. And it’s going to underpin the rebound in our property markets in 2021.You’re probably very familiar with the term “responsible lending” these days – after all, the Royal Commission hammered home the point that banks weren’t being “responsible lenders” for most of 2019.Now, the government has done something of a backflip on their previous stance, which has the ...
What does the federal budget mean for the Australian housing market?
Three major housing-related measures were highlighted in Treasurer Frydenberg’s budget address on the 6th of October: an extension of the First Home Loan Deposit Scheme (FHLDS), additional low-cost financing for affordable housing through NHFIC, and additional funding for the Indigenous Home Ownership Program. Other measures detailed in the budget papers included a proposed capital ga...
'Zoom Boom' Draws Sea-Changers to Sunshine State
Regional and satellite property markets such as the Sunshine Coast are experiencing an uplift in transaction activity and house price growth throughout the pandemic.The Sunshine Coast has recorded consistent dwelling price growth for both houses and units, while simultaneously, population growth in the region is at its highest level in almost a decade, CBRE research shows.The Sunshine Coast’s m...
New price caps unveiled in extension of the First Home Loan Low Deposit scheme
6 Oct 2020 | Author: Jonathan Chancellor | Source: Property ObserverThe extension of the First Home Loan Deposit scheme was confirmed in last night’s federal Budget with new property price caps.The expanded scheme, initially announced on Saturday, will allow an extra 10,000 first-home buyers this financial year.“This builds on the 20,000 first home buyers we are helping to purchase a home ...
