In 2012’s first half, house prices could go down by as much as 5% due to ongoing economic uncertainty. Shane Oliver, AMP’s chief economist believes that the RBA will be forced to slash interest rates at least twice so as to stimulate buyer confidence. Oliver said this, “Australian house prices are likely to fall another [...]
The business opportunities most abundant to mortgage brokers were in the areas of refinancing. New data revealed that of all the lending commitments for owner-occupied housing, more than 30% of it is on refinancing. The Australian Bureau of Statistics revealed that in October 2011, refinancing is 30.8% of all lending commitments for owner-occupied housing. Some [...]
New research reported by the advisor reveals interest rates for Australia’s home loans have fallen to their lowest level, in two and a half years. RateCity records showed fixed rates have fallen the most, with three year fixed rates on an average 6.29% in December with a 5.75% lowest rate which is 150 basis points lower [...]
The property industry believes Australia’s recurring housing shortage is restraining the economy and is threatening the quality of life. All levels of the Australian government however, are still failing to give an effective response so as to handle the intensifying crisis. The National Housing Supply Council recently revealed a 28,000 increase from last year’s shortage [...]
International ratings agency, Moody’s, has reaffirmed the top level triple-A credit rating on Australia stating this on their press release, “Australia’s Aaa ratings are based on the country’s very high economic resiliency, very high government financial strength, and very low susceptibility to event risk. Economic resiliency is demonstrated by the country’s very high per capita [...]
CBRE recently released their Q4 2011 report, Residential MarketView, and results showed that the residential market in West Australia remains slow due to the falling buyer activity. Sam Reilly, CBRE’s global research and consulting manager believed that buyer sentiment has been mostly affected by their outlook on the volatile global economy. Reilly shared, “We are [...]
Houses selling through auctions are getting popular especially for houses located in Auckland. Latest records from the Real Estate Institute of New Zealand have shown an all-time high for Auckland residential properties sold last month. Figures revealed that properties sold on November went beyond a quarter of Auckland’s properties with family homes selling more through [...]
The never ending price war amongst Australia’s banks continues as St George announces another cut on its fixed rate home loan products. On December 21, St. George Bank posted another cut on its fixed home loan rates taking enforced on December 20. As cited on their press release, “St. George’s competitive Advantage Package fixed rates [...]
New research conducted by PRDnationwide has revealed that sales activity for properties in major mining towns like Rockhampton and Yeppoon is increasing mainly due to the drive brought by the resources boom. Rockhampton’s median sales price reached $285,000 or a 1.6% increase whereas the suburb Yeppoon recorded an increase in sales, which in the last [...]
Economists believe that another cut is to be expected in February should Europe’s debt crisis goes worse. The RBA recently released the board’s December minutes of the meeting revealing the possibility of a stall on the global economy’s growth next year. The reason for the RBA’s recent 25 basis points cut was eurozone’s instability but [...]