Borrowers refinancing have allowed the major banks to maintain their market share dominance, the aggregator has revealed. The latest AFG Index released by the Australian Finance Group (AFG) has revealed that the market share of Australia’s big four banks rose to 61.7 per cent during the third quarter of the 2024 financial year. Meanwhile, the […]
Mortgage brokers have said serviceability issues are the primary hurdle for their clients looking to refinance, the MFAA’s new survey has found. According to the latest survey findings released by the Mortgage & Finance Association of Australia (MFAA), 87 per cent of respondents cited serviceability as the “number one” barrier to refinancing, up from 83 […]
New data from the major bank has revealed almost half of new property investors in 2023 were Millennials. Data released by the Commonwealth Bank of Australia (CBA) has shown 46 per cent of the bank’s new property investors in the 2023 calendar year were made up of Millennials (born 1981–96). Gen X (born 1965–80) followed […]
Despite rising home values, new home lending volumes dropped in December 2023, new ABS figures have shown. According to new statistics from the Australian Bureau of Statistics (ABS), the value of new mortgage lending dropped to $26.3 billion in the month of December compared to $27.3 billion the previous month. Moreover, the latest Lending Indicators data from […]
Australia’s western state has led the charge in home value growth for yet another month. The latest home values data released by CoreLogic’s Home Value Index (HVI) has revealed that Perth continues to dominate the leaderboard in home value growth out of the combined capitals, with home values increasing by 1.6 per cent in January. […]
Predictions from the big bank economists and markets have foreseen interest rates to hold steady in December. In the lead-up to the Reserve Bank of Australia’s (RBA) final monetary policy decision for 2023, the big four bank (NAB, CBA, Westpac, and ANZ) economists have all predicted that the central bank will pause the cash rate […]
The income needed to service new mortgages on the average dwelling value has increased year on year, a new report has found. Prospective home buyers are now required to dedicate 46.2 per cent as of September 2023 (up from 40.3 per cent during the same period last year) of their income to service a new […]
National home prices have reached new heights for the month despite rising interest rates and an easing in price growth. CoreLogic’s latest national Home Value Index (HVI) rose by 0.6 per cent in November, marking the smallest monthly gain since the beginning of the current growth cycle in February 2023, however, the national HVI has […]
The federal Treasurer has warned the latest rate hike will put further pressure on mortgage holders. Speaking at a press conference in Sydney following the Reserve Bank of Australia’s (RBA) Melbourne Cup Day rate decision (7 November), federal Treasurer Jim Chalmers stated that the move to raise interest rates will “make life harder for people […]
he latest ABS data on building approvals has revealed a fall in total dwelling approvals for September, becoming the third-lowest month since June 2012. The Australian Bureau of Statistics (ABS) latest data found the seasonally adjusted total number of dwelling approvals fell 4.6 per cent in September to 13,144, following the 8.1 per cent rise […]