STAMP duty is back on the table for first-time buyers of existing property after a long exemption period and come October 1, those purchasers will no longer be eligible for a $7000 cheque from Mr O’Farrell to ease the homebuying squeeze.
For a $300,000 purchase, NSW home buyers will need to front up $8990 in stamp duty on existing properties before even getting the keys to their new front door. Continue reading Stamp duty back on the table →
More than one in 10 Australians downsized their home last year to lower their housing costs, according to a new report.
The Citibank research has also found 63 per cent of people don’t think home ownership will be an option for their children, while almost three-quarters think the Government needs to do more to help first-home buyers enter the market. Continue reading Goodbye McMansions →
Owner-occupier home loans are up, but fewer of them are first-home buyers.
The number of owner-occupiers taking out home loans jumped 1.5 per cent in July, but fewer of them were first-home buyers.
Australian Bureau of Statistics data shows the number of first-home buyers remains low and decreased by 4.4 per cent during July. The proportion of first-time buyers in the market is now the lowest for more than six years. Continue reading First-time buyers are a disappearing breed →
Imagine being able to use your rental history as evidence of genuine savings when trying to get a home loan…
Well, now you can.
Mortgage broker Loan Market has been lobbying the banks to allow people applying for a home loan to use rental payments as evidence of savings and it has been answered by one of the nation’s major lenders. Continue reading Rent to own: major bank says Yes →