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