New data indicates that house hunters will be out in far higher numbers this year than in 2023. According to mortgage brokerage Loan Market, 2024 has recorded a 23 per cent spike in finance pre-approvals compared to this time last year. While spring is always a busy time for the market, this year it appears […]
The combined capitals’ preliminary auction clearance rate increased slightly last week and reached the highest early clearance rate since the last week of July. CoreLogic data has revealed that the combined capitals’ preliminary auction clearance rate reached 71.4 per cent last week. The result was 70 basis points higher than the previous week (70.7 per […]
The central bank has reported that arrears have ticked up from low levels since late 2022, and outlined the drivers behind this. In its July 2024 Bulletin, the Reserve Bank of Australia (RBA) said that housing loan arrears have increased steadily since 2022, alongside rising household budget pressures from higher inflation and interest rates. It […]
Recent data has shown that living costs have seen an uptick throughout the June quarter. Driving much of this is a rise in mortgage interest repayments. The latest Living Cost Index (LCI) from the Australian Bureau of Statistics (ABS) has revealed all five LCI indices rose by 1.2–1.4 per cent over the June quarter. The […]
Refinancing your mortgage? First, it may be beneficial to consider these five suggestions to ensure the process runs smoothly, which could save time and money. The tips were broken down by Tiimely Home’s lead broker Barbara Giamalis, who explained the benefits of refinancing. “Although refinancing isn’t as robust as last year, many consumers are still […]
Dwelling values are currently at a record high in Sydney, Brisbane, Adelaide and Perth, according to new data. CoreLogic’s Monthly Housing Chart Pack for August 2024 has revealed that Australia’s 11.2 million dwellings are worth a total of $10.9 trillion. Borrowers have $2.3 trillion in outstanding mortgage debt, while 56.2 per cent of their household […]
It’s been seven weeks since the last cash rate call, with opinions varying on whether the next move would be a hold or rise. Now, the Reserve Bank of Australia has delivered its first decision of FY25. The central bank has announced it will hold the cash rate, electing to keep the figure steady at […]
Working towards a mortgage can be tough for a young Aussie. Below is some advice to help make the biggest investment a little smoother. Unsurprisingly, one of the biggest hurdles for young people getting a mortgage is affordability. Melisa Sloan, founder of Madison Sloan Lawyers and author of Big Moments said that high demand and property shortages […]
These five common mistakes could end up costing you dearly in the long run On a recent episode of Property Investing Insights with Right Property Group, seasoned investors Victor and Reshmi Kumar revealed the top mistakes made by inexperienced investors who are new to the world of property. “It’s sad, because not only are they losing on […]
When it comes to refinancing a mortgage, smart strategy could save you thousands of dollars a month. On a recent episode of The Smart Property Investment Show, PRD Real Estate’s chief economist Dr Diaswati ‘Asti’ Mardiasmo shared her journey refinancing her own mortgage. Coming off her COVID-19 era fixed-rate mortgage in April this year, Mardiasmo received a […]