High Interest Rates, Inflation, Financial Hardship: Here’s How You Can Prepare
The Reserve Bank of Australia (RBA) has begun raising its cash rate target, after more than a decade of low and falling cash rates. And the central bank anticipates several more rate hikes over the next two years. RBA Governor Philip Lowe says Australia’s cash rate will...
Read morefolderCategory: Financial Hardship, News, RBA cash rate
bookmarkTags: Financial Hardship, High Interest Rates, Inflation
NSW Announces Stamp Duty Reform
As part of the First Home Buyer Choice housing package announced in the 2022-23 New South Wales state budget, first-home buyers in NSW can choose either to pay stamp duty upfront or pay a smaller annual property tax. NSW Premier Dominic Perrottet said it was a priority to...
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bookmarkTags: first home buyers, NSW, Stamp Duty
Home Values Drop For The First Time Since September 2020
CoreLogic’s Home Value Index for May 2022 recorded its first national monthly decline since September 2020. National home values fell 0.1%. Sydney and Melbourne recorded falls of 1% and 0.7%, respectively. Canberra experienced its first monthly decline (-0.1%) since July...
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bookmarkTags: Australian property market, property market update
Labor Government Schemes To Help Home Buyers
Labor’s win in the 2022 Australian elections brought a change in the government schemes available to first-home buyers and those who currently don’t own property. What Government Home Buying Schemes Are Available After The 2022 Election? The Labor government has introduced...
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bookmarkTags: First home Buyer, government scheme
ANZ: Housing Affordability Will Decline
The findings from the latest ANZ CoreLogic Housing Affordability Report found a deterioration in housing affordability due to rapid increases in house prices and rental costs. The report analysed housing affordability in the March 2022 quarter based on four metrics: Dwelling...
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Super Home Buyer Scheme
error The Super Home Buyer Scheme was proposed by the Coalition. Since the Coalition lost the 2022 federal election, this scheme will not be available. With affordability already low and a decreasing housing supply, Prime Minister Scott Morrison has announced a proposal...
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bookmarkTags: First home Buyer
Sydney & Melbourne Drag Down Housing Market
CoreLogic’s data revealed the home value index for April 2022 showed national growth of 0.6%. This is the lowest reading since October 2020. Sydney and Melbourne are the two cities with the heaviest weighting in the home value index. Sydney was down 0.2% for the third...
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bookmarkTags: Australian property market, property market update
RBA Increases Cash Rate To 0.35%
The Reserve Bank of Australia (RBA) increased the cash rate by 0.25 percentage points; taking the historically low cash rate to 0.35%. An increase in the cash rate causes the interest rates on variable-rate mortgages to go up as well, as most lenders, including major...
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Flood Relief Packages For 2022 | What Support Is Available?
The major banks in Australia have announced their financial relief packages for customers affected by significant flooding across southeast Queensland and parts of northern New South Wales. The following services are now available to customers whose finances the current floods...
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bookmarkTags: disaster relief package, flood relief package, lenders policies, relief measures for flood victims, relief schemes
Home Guarantee Scheme Price Caps Increasing For 2022-23
The government has announced higher price caps for 2022-23 for parts of its expanded Home Guarantee Scheme, which includes the First Home Guarantee (formerly the First Home Loan Deposit Scheme), the Family Home Guarantee and the proposed new Regional Home Guarantee. (Note:...
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bookmarkTags: Family Home Guarantee, First Home Guarantee, Home Guarantee Scheme
