House Rental Prices Set to Rise
Renting is expected to become even more expensive, due to a boost in population and a shortfall of new homes being built. For people caught up in the rental cycle, the process of securing a property at a reasonable price is likely to become trickier over the next year, a series of recent rental surveys shows.
What Switching Banks Could Cost
So, if you want to protest after the Commonwealth Bank jacked up its variable mortgage rate by jumping ship, what will it cost? While mortgage exit fees vary around the country, borrowers should expect to pay at least $1000 if they tried to move their variable mortgage to a lender with a better interest rate, say mortgage brokers.
No Housing Bubble : Rp Data
Constant rumours that Australia is in the midst of a housing bubble have been silenced by RP Data. Speaking to Real Estate Business yesterday, RP Data's research analyst Cameron Kusher said there was no data to suggest Australia is in a housing bubble. "We enjoyed some pretty strong property price growth over the last 12 months. However, that growth is now plateauing," Mr Kusher said.
Fewer Rental Homes Available in Cities
Landlords and Investors may be rubbing their hands together, but for Tenants, it's an entirely different story. A chronic shortage of available rental homes is now a permanent fact of life in NSW's major metropolitan areas, the Real Estate Institute of NSW (REINSW) says.
Anz : No Rush to Raise Rates
ANZ is in no hurry to raise interest rates, chief executive Mike Smith says. Mr Smith reiterated his previous comments on interest rates, saying that when the cost of bank’s fund increased, then banks must pass this on to borrowers. ‘‘At some stage, something will have to give,’’ he told a Trans-Tasman Business Circle event in Melbourne.
Australians Keen to Invest in Property
More than half of Australia's renters are struggling to get into the property market, new research has found. According to the Bankwest/Mortgage and Finance Association Home Finance (MFAA) Home Finance Index, just 19 per cent of renters are happy to keep renting in a bid to maintain their lifestyle, while the rest are keen to crack the property market.
Reserve Bank under Orders for Another Rate Rise
The Reserve Bank is preparing to lift interest rates, declaring in its latest board minutes ''rates will need to rise'' and that it cannot ''wait indefinitely''. The unusually hard language follows an October board meeting that was ''finely balanced'' with three of its nine members absent, including the academic Warwick McKibbin, who is believed to support pushing up rates.
Listings Surge is Great for 'spring' Buyers
Sale volumes and total values are up on this time last year, driven by a surge in auction listings. Last Saturday, 533 properties were listed for auction, compared with 343 for the same Saturday last year.
House Prices Set to Rise
Australian house prices are expected to climb as much as 20 per cent over the next three years, underpinned by strong economic growth and an ongoing shortage of supply. The QBE LMI Australian housing outlook report, prepared by BIS Shrapnel, says median house prices in Perth, Sydney and Adelaide are expected to jump by about 20 per cent to June 2013.
Australia's Biggest Growth Centre
The Sydney residential market is still showing positive drivers. Population growth into New South Wales is once again the highest of any state or territory: more residents are deciding to stay in New South Wales rather than leave for other states and overseas migrants continue to choose Sydney as the most popular migration destination.
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