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 […]
Could refinancing prove valuable for home owners and investors looking to unlock extra capital this year? According to one financial expert, yes. As some 800,000 Australians prepare to exit their fixed rate mortgage over the course of 2023, Paul Glossop, chief executive officer at Finni Mortgages, recently revealed how the strategy could be harnessed by borrowers […]
Following a slowdown at the end of 2022, new data from CoreLogic and PropTrack indicates a reacceleration of rental growth occurred during the first three months of the new year. According to CoreLogic’s Quarterly Rental Review for Q1 2022, national rents jumped 2.5 per cent in the three months preceding March. Similarly, PropTrack’s latest Market […]
The Reserve Bank (RBA) governor has turned attention to the financial precarity of tenants, noting that rents are expected to continue rising across the nation. On the heels of the RBA’s decision to hold the cash rate at 3.6 per cent in April, Philip Lowe has addressed the Australian media in a bid to explain the board of directors’ […]
Property investment by an SMSF will fail the sole purpose test if it provides pre-retirement benefit to someone such as personal use of a fund asset, warned the ATO director of the SMSF auditors segment. In a presentation to the SMSF Australian Auditors Association Conference in Sydney last week, Paul Delahunty said the rules around property investment […]
Rising interest rates, high construction costs, and continued levels of inflation are placing significant pressure on Australian property investors. In response, many are seeking safe-haven investments to protect themselves against the effects of the slowing economy, while preparing for a potential speed-up in 2024. With the global demand for Australia’s goods and services lessening and the rising […]
It’s time to reposition the Reserve Bank of Australia’s (RBA) inflation target, according to the financial and business expert. Speaking to Phil Tarrant on a recent podcast, Mark Bouris, who is a director at Yellow Brick Road, conceded that while the central bank’s inflation rate target of 2 per cent to 3 per cent — first established in 1996 — is […]
Following February’s decision to enact a ninth consecutive cash rate increase, Australia’s central bank has made its latest monetary policy call. At its annual monthly board meeting, the Reserve Bank of Australia (RBA) opted to take the number of cash rate raises into double figures, raising the figure by 25 basis points to 3.60 per cent. The […]
Worsening financial conditions will motivate elderly home owners to downsize sooner than expected, according to a non-bank lender. Bridgit chief executive Aaron Bassin has predicted that the current economic environment will trigger property movement throughout the year in order to free up equity to support them through the cost-of-living crisis, avoid increased mortgage repayments, and “live […]