Interest Rates Stay Steady
Borrowers get a reprieve with interest rates remaining unchanged for a fifth month. The Reserve Bank has granted Australia's borrowers a reprieve, leaving interest rates unchanged for the fifth month running amid signs of quickening economic growth and subdued inflation. Three of the big four banks - NAB, ANZ and Westpac - indicated they were likely to leave their rates unchanged.
Australian Dollar Hits 27 Year Record
The Australian dollar has hit its highest point in 27 years against the US dollar, after an impressive jump in domestic employment revived speculation that rate hikes may be in the offing. The Australian dollar rose as far as 99.13 US cents, up one per cent on the day, after taking out resistance at $US0.9851, and hit its highest since it was floated in 1983.
Sydney Joins 'top 4' World Cities for Foreign Investors
Sydney ranked as the fourth-most popular investment destination for global investors, after London, Paris and New York. A survey by the property consultant CBRE found that in the past 18 months Sydney attracted 4 per cent of all cross-regional transactions.
Australia's Economy : Envy of the Developed World
Not only did we escape the global downturn with hardly a scratch, but we’re in a very strong position to withstand any more external economic shocks. We have interest rates back up to average levels and government debt at much lower levels than any of our overseas counterparts.
90% of Potential First Home Buyers Pay Rent
Almost nine out of 10 prospective first home buyers are paying rent to a landlord or family member while also trying to save for a deposit, new research has found.
Figures Confirm Nsw is in Great Shape
Job figures released at the end of last week confirmed what recent gross domestic product, retail sales and consumer sentiment figures have been suggesting for some time. That is, the local economy is robust and performing strongly. The unemployment rate for NSW hit a two-year low of 5 per cent, performing better than the national figure of 5.1 per cent.
Property Investor Numbers Surge
Investors are finally filling the gap created by first home buyers. According to RP Data’s national research director Tim Lawless, while owner occupiers still well and truly dominate the market, investors have become a much larger proportion of buyers compared to this time last year.
Auction Tips to Help You Secure That Perfect 'dream Property'
Use a bidding style that works for you to avoid auction angst. Tension fills the air. Your heart beats a little faster. It's auction time. While it may all come down to who has the deepest pockets on the day, sometimes how you play the game will influence just how high the other bidders are prepared to go. "The tactics really are a mind game in an auction," says auctioneer, Brian Cannan.
Home Building Grows Modestly
Builders started work on nearly 45,000 new homes across the country in the three months to the end of June, the biggest quarterly number of dwellings in more than six years, new data shows. But growth in dwelling commencements was a more modest, seasonally adjusted 0.8 per cent in the quarter, and well short of the 5.0 per cent growth expected by economists.
First Home Buyers Told to Act Now
Now is a good time for first home buyers to jump on the property ladder, according to Mortgage Choice. In recent weeks many lenders have eased their lending criteria, which will serve to help first home buyers that do not have a huge house deposit. Adelaide Bank has reintroduced lending up to 95 per cent LVR, while Westpac has extended its maximum LVRs to 92 per cent for new customers.
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