Australians are feeling more confident about their home-buying plans but it’s a different story for first home buyers, according to new Westpac research. The latest Westpac Home Ownership Report has found that 44 per cent of Australians plan to buy a new home in the next five years, up 9 percentage points since July 2023. […]
A new survey has revealed that the RBA’s decision to pause rate rises in February was a shot in the arm for consumer sentiment, but the mood remains pessimistic. The Westpac Melbourne Institute Consumer Survey Index rose by 6.2 per cent to 86 in February 2024 (up from 81 in January), This marked the biggest […]
Rising interest rates dampened new loan values in 2023 but led to a surge in refinancing activity as borrowers shopped for better mortgage rates, according to new research. The latest Mortgage Insights Report by digital property exchange platform PEXA has revealed that the aggregate value of new home loans declined by 12.7 per cent from […]
The Reserve Bank of Australia’s (RBA) recent decision to hold the cash rate at 4.35 per cent will have significant implications for investors. In this episode of The Smart Property Investment Show, host Phil Tarrant chats with Finni Mortgages CEO Paul Glossop about why the RBA’s latest interest rate decision comes at a turning point […]
A new survey has revealed that spending habits are rapidly changing amid growing consumer stress, with consumers using these savings to pay down their mortgages. The National Australia Bank (NAB) Consumer Sentiment Survey Q4-2023 of around 2,000 Australians has found that around one in five consumers who cut back on spending used their savings to […]
Mortgage stress decreased for the second straight month in November 2023 despite the central bank raising rates by 25 basis points, according to new research. Data released by Roy Morgan has revealed that 1.49 million mortgage holders (29.9 per cent) were at risk of mortgage stress in the three months to November 2023. This period […]
Mortgagors required almost half their income to meet the average loan repayment in the September 2023 quarter, a new report has found. The latest Real Estate Institute of Australia (REIA) Housing Affordability Report has revealed that housing affordability has continued to worsen as borrowers and renters bear the brunt of rising interest rates and soaring […]
A sharp upturn in new owner-occupier loan commitments contributed to overall housing lending growth in October, but refinancing cooled off from recent record highs, according to new figures. The latest Lending Indicators data released by the Australian Bureau of Statistics (ABS) has shown that the value of new owner-occupier loan commitments surged by 5.6 per […]
The RBA has handed down its final decision for 2023 – and it’s already setting the scene for 2024 market dynamics. In this episode of Property Finance Uncut, Smart Property Investment’s Phil Tarrant and Finni Mortgages’ chief executive Paul Glossop predict that Australia is either at the top – or very near to the top […]
House prices are predicted to fall in Sydney, Melbourne, Canberra, and Hobart as interest rate rises start to bite home owners and buyers, according to a new report. SQM Research has released its annual Christopher’s Housing Boom and Bust Report 2024, in which it has forecast that Sydney’s property prices could record a moderate fall […]