The Australian housing market has a bright future, and Gen Ys will be the ones to lead it there, a social demographer has claimed.
In spite of growing pessimism surrounding the economy, KPMG partner Bernard Salt has told Australian BrokerNews he expects economic conditions to pick up within the next few years. Salt claimed much of the economic pessimism in the housing market is merely reverberations from the GFC. Continue reading Gen Ys will lead housing revival
Category Archives: News
Which way for the Aussie dollar?
The Aussie dollar reached parity with the US greenback in October 2010 and has maintained its strength since. But how much longer can this run last?
“What goes up must come down” might be an essential feature of gravity, but many others believe the Aussie dollar is held to the same principal. The dollar reached parity with the US greenback last October – the first time since it was floated in 1983. Since then, the dollar has inched upwards nudging $US1.10 in early May. Continue reading Which way for the Aussie dollar?
RBA: Rate hike ‘necessary’ at some point
The central bank has again signalled that interest rates will increase “at some point” but says it will wait for more news on the state of the international economy and on Australia’s domestic demand.
The minutes of the Reserve Bank of Australia’s (RBA) June 7 board meeting, show the bank believes inflation is being moderated by a high Australian dollar and recent lowering labour costs.
But the bank warned that growth in the resources sector may cause a gradual pick-up in inflation. Continue reading RBA: Rate hike ‘necessary’ at some point
The great power burial
In many new areas, powerlines are going underground. But if you live in an older area, would you fork out for the privilege?
A paper released last year by the Crawford School of Economics and Government at the Australian National University found that underground powerlines could increase a home’s value by 3 per cent. That doesn’t sound much, but on a $500,000 property, it equates to $15,000. Continue reading The great power burial
Home owners going backwards since the ’70s
Australia’s first home buyers are now six years older than four decades ago, with new research showing average borrowers wait until their thirties before taking on large amounts of debt.
Underscoring the nation’s problem with housing affordability, a new survey of home owners and aspiring first home buyers shows one in five first home buyers used more than 50 per cent of their income to service their debt. Continue reading Home owners going backwards since the ’70s
Exit fee ban – so when’s the right time to refinance?
The federal government’s announcement on 25 March that home loan exit fees are banned from July 1 onwards is causing confusion with a number of borrowers who are trying to decide whether to switch now or later.
Many are unsure whether it will be more beneficial for them to wait until this expiration date passes before committing to a new loan, says Australia’s largest independently-owned mortgage broker. Continue reading Exit fee ban – so when’s the right time to refinance?
Would you, could you, move to the country?
Perhaps it was all the green grass, but driving halfway across the nation and back over the last few weeks had me wondering – could I live in the country?
When you check out the property prices, country towns certainly look appealing.
With median house prices in Australia’s capital cities reaching levels that must take the breath away of “average” workers, you have to wonder why there isn’t a bigger exodus to the bush. Continue reading Would you, could you, move to the country?
NSW Home Builders Stamp Duty Concessions
We’re frequently asked to explain the stamp duty conecessions for new home builders which were introduced last year by the NSW Government, under the NSW Home Builders Bonus (HBB), to stimulate the construction of new homes in NSW.
HBB provides a full exemption on stamp duty for purchases of vacant land where a new home will be built, homes bought off the plan (e.g. apartments) and purchases of new homes by over 65 year olds who sell their current residence. The concessions apply to transactions completed after 1 July 2010. Continue reading NSW Home Builders Stamp Duty Concessions
Interest rates on hold
Mortgage holders were given a boost today when the Reserve Bank decided to keep interest rates on hold.
While the move is hardly a surprise, it will still be welcome news for people paying off a mortgage.
Each 0.25 per cent interest rate rise adds another $60 to the monthly cost of an average Australian mortgage. Continue reading Interest rates on hold
Neighbour Day, Sun 27th March 2011
“The community you want starts at your front door.”
Not many people are aware that Sunday, March 27th is National Neighbour Day in Australia; a day which much needed and worth spreading the word about.
I’ve always been motivated by people who are blessed with the determination to make a difference. Andrew Heslop is one of these incredible individuals, and back in 2003, it was his belief in the collective ability of all the people in a community to make a change, which is the reason we celebrate Neighbour Day every year on the last Sunday in March. Continue reading Neighbour Day, Sun 27th March 2011