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. […]
Mortgage prison doesn’t have to be a financial sentence, according to one mortgage broker. Eva Loisance from Finni Mortgages concedes there’s a lot of people “struggling to find a way to get back to interest only, or to a better rate”. But rather than despairing, she notes “there are options out there”. “It’s just a […]
In 2002, then US secretary of defence, Donald Rumsfeld, delivered a convoluted word salad that’s perhaps one of history’s most awkwardly constructed quotes. In describing his country’s position on the war in Iraq, Mr Rumsfeld said: ”There are known knowns; there are things we know that we know.”There are known unknowns; that is to say, […]
Most Australians wait until their mid-30s to enter the property market. Are there benefits to buying in this age bracket, or is “sooner the better” still the best rule of thumb? Gone are the days when Australians would buy their first home in their 20s in preparation to raise a family. The latest data from […]
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 […]
New insight into Australian home loan borrowers reveals that market activity is increasingly dominated by purchasers leveraging other properties to acquire new homes. The Consumer Access to Mortgages 2023 report by Agile Market Intelligence in association with the Finance Brokers Association of Australia (FBAA) reported that borrowers who were granted a mortgage in the last 12 months […]
A top economist has identified major concerns for the year ahead, but believes that investors still have reasons to be optimistic. Inflation, the risk of recession, China and geopolitical risks are the “big worries” for investors heading into 2024, according to AMP chief economist Shane Oliver. While evaluating that 2023 has turned out “far better […]