While almost three-quarters of Australians owned a home outright or with a mortgage in 1966, this has now plunged to only 63 per cent, according to AMP. In his latest insights, AMP Investments chief economist Shane Oliver referred to a joint report by AMP and demographer Bernard Salt titled What wealthy means to Australians in […]
The value of new housing loan commitments grew for the first time in March 2023 since the beginning of 2022 while first home buyers also came back to market, new data revealed. The Australian Bureau of Statistics’ (ABS) Lending Indicators data for March 2023 revealed the overall value of new housing loan commitments rose by […]
Over 46 per cent of NSW postcodes could spill into the “high mortgage risk” zone next month on the back of rising rates, while repayments for recent borrowers in the eastern states are forecast to spike by around 65 per cent, according to a new report. Digital settlement platform Property Exchange Australia (PEXA) has released […]
Confidence amongst mortgage borrowers spiked in April after the central bank held the cash rate unchanged this month, new data has revealed. The Westpac Melbourne Institute Consumer Sentiment Index showed that confidence amongst respondents with a mortgage lifted by 12.2 per cent in April. However, it is still 14.5 per cent below its level before […]
The deadline to submit supporting documentation for the $25,000 HomeBuilder grant has been extended to 30 June 2025 for existing HomeBuilder applicants affected by supply constraints and construction industry delays. Minister for Housing Julie Collins has announced that the federal government intends to negotiate with states and territories to extend the deadline for existing eligible […]
Rising rates are taking their toll, with home buyer sentiment falling to an “extreme low” while more consumers expect house prices to rise than fall, new data has shown. The Westpac-Melbourne Institute Consumer Sentiment Index revealed that for housing, the “time to buy a dwelling” index fell by 11.1 per cent in March to an […]
Young homebuyers are not necessarily waiting for a romantic partner to enter the property ladder, with many considering buying a property with someone else, according to new research. Data sourced from a National Australia Bank (NAB) survey undertaken between November and December 2022 with around 300 Australian adults looking to buy a property revealed that […]
Mortgage stress increased to the highest level since July 2013 in the three months to December 2022, with almost a quarter of mortgage holders now “at risk”, new data has revealed. New research released by Roy Morgan has shown that an estimated 1.1 million mortgage holders (23.9 per cent) were “at risk” of mortgage stress […]
New data suggests Australia’s housing market downturn has lost steam and the peak rate of the quarterly decline has passed, according to a new report. Domain’s House Price Report for the December 2022 quarter has revealed that combined capital house prices across Australia declined six times slower and unit prices three times slower than the […]
A survey commissioned by Mortgage Choice has found that almost one-third of home loan customers are considering refinancing their home loan within the next 12 months, but reservations remain among many borrowers. The survey of more than 1,000 Australian home loan customers revealed that 31 per cent are considering refinancing their home loan in 2023. […]
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