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 purpose ...
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 poten...
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 gains exempt...
'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 this ...
How will the property market look once borders open?
Source: Propertyupdate.com.au There’s an elephant that’s about to make its presence felt in the property market and it’s a huge potential game-changer. It won’t be deterred by rising unemployment, housing finance restrictions, buyer confidence or economic downturns.It has the power to radically alter housing prices and rents, and it’s about to be unleashed on our property markets.What is t...
Consumer confidence hits three month high
Consumer confidence rose +1.2 per cent last week to 93.5, according to ANZ-Roy Morgan, a 13-week high.However, confidence levels remain well below the monthly average since 1990 of 112.6, and even still a reading of 93.5 is equivalent to what Australia experienced through the financial crisis. Source: ANZ-Roy Morgan On March 29 the COVID shock saw consumer confidence reading hit the lowest ...
What do housing approval trends mean for the property market?
Whilst the number of attached dwelling non-starts have fallen – which is a good thing – the 21,500 not yet commenced attached dwellings (which are mostly mid-to-high rise apartments) account for a third (32%) of all new attached dwellings approvals last year.In contrast, the 9,000 approved but not yet started detached houses accounts for just 9% of last year’s total detached housing approvals. ...
