Melbourne’s Property Market: Recovery Underway
Metropolitan Melbourne and regional Victoria are currently in the third stage of the government’s COVID-19 recovery plan. Following a series of lockdowns designed to bring the COVID-19 outbreak under control, Victorian real estate is slowly moving back towards “business...
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Australian Property Market Update: October 2020
After five months of decline, the national home value index finally moved back to a positive in October 2020. According to CoreLogic, the index shows a rise of 0.4%. Every capital city in Australia, except for Melbourne, recorded a rise in their values over October...
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Newsflash: Major Banks Drop Fixed Rates To 1.98%
RBA announced the history-making rate cut on November 3rd in which they slashed the cash rate to a record low of 0.10%. The big four banks have made significant rate cut to fixed home loan rates. One of the major banks has reduced the fixed-rate to the lowest ever at just...
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More Australians Looking To Buy A Home Now Than Ever
Consumer sentiment is on the rise but is it enough? The government’s unprecedented level of stimulus amidst the COVID-19 pandemic such as the Jobseeker, Jobkeeper, HomeBuilder have helped restore confidence in the economy. According to the Westpac-Melbourne Institute...
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More Than Half Of All The Paused Mortgages Yet To Resume Their Repayments
At the height of the COVID-19 pandemic, around 500,000 mortgage repayments (1 in 11 mortgage holders) were deferred. Six months later, almost half (45%) of all deferred mortgages have resumed repayments, based on data collected by the Australian Banking Association from seven...
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Why You Shouldn’t Let The Pandemic Put Your Plans For Pre-approval On Hold
It’s hard to believe we’re in the middle of a pandemic with the Australian Bureau of Statistics (ABS) data shows that Australians secured $16.3 billion in owner-occupier loans in August 2020. This is a 13.6% increase in August, which is the largest rebound since...
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Australian Property Market Update: September 2020
Falling home values in Sydney and Melbourne pushed the national housing market into its fifth consecutive month of decline. Six of the eight capital cities had a rise in their home values over the month. Only Sydney and Melbourne recorded a decline of 0.3% and 0.9%...
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Budget 2020: Helping First Home Buyers & Infrastructure Development
The focus of the 2020 Federal budget is to help Australians get through the COVID-19 recession by boosting business and consumer confidence and growing the economy and creating jobs. Here’s what Federal Treasurer, Josh Frydenberg announced for the 2020 Federal Budget. 10,000...
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First Home Loan Deposit Scheme: 10,000 New Places Added
The federal government added another 10,000 new places under the First Home Loan Deposit Scheme (New Homes) for first home buyers looking to purchase a new home or a newly built home. Also known as the FHLDS New Home Guarantee, eligible first home buyers can reserve one...
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Pros And Cons Of Refinancing Your Home Loan
According to CoreLogic’s early market indicators (as of 27 September 2020), refinancing mortgages rose 1.46% over the past week. Refinancing was up 22.11% year on year, compared to a 10.68% rise on mortgages for a new purchase. Source: CoreLogic’s Early Market Indicators...
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