Property

CBA and ANZ next to raise mortgage rates

The Commonwealth Bank of Australia (CBA) and ANZ have decided to follow in the steps of fellow mortgage lender Westpac and hike up their mortgage lending rates. These moves are set to raise $1bn for each bank and are likely to face scrutiny, given that many households are already struggling with rising levels of debt and reportedly…

Australian real estate value drops fastest since 2008 crash

In a potentially worrying sign for the economy, house prices in every major city in Australia except one are now dropping in value at the worst rate since the global financial crisis ten years ago. The two cities that appear to be facing the biggest effects in terms of a slump are Sydney and Melbourne….

Geelong leading growth in regional property markets

A leading property market expert has declared Geelong, Victoria to be showing positive growth as it joins several suburbs whose house prices are seeing consistent growth. The latest report from McGrath, a large estate agent company in Australia, has shown that there are a number of cities beginning to buck the trend of falling house…

Geelong leading growth in regional property markets

A leading property market expert has declared Geelong, Victoria to be showing positive growth as it joins several suburbs whose house prices are seeing consistent growth. The latest report from McGrath, a large estate agent company in Australia, has shown that there are a number of cities beginning to buck the trend of falling house prices…

Investors warn Australia over property price decline

A report from Pacific Investment Management Co. (Pimco) has suggested that the major banks in Australia could find themselves dealing with debt downgrades in the wake of a declining property market. The report came with a note from leading analysts and investment managers, who revealed that they “have grown more cautious with the external credits…

ANZ predicts house prices to drop up to 10%

Major Australian mortgage lender ANZ has said that it is forecasting Sydney and Melbourne to lead the way in house prices falling across the nation. It expects Australia’s two largest cities to see a drop of 10% in the value of the average household across 2019. This will follow similar but less sharp patterns across…

Morrison defends housing policies and criticizes negative gearing plans

Australian Prime Minister Scott Morrison has warned that Labor’s plans to reduce capital gains taxes and other ideas would be “inviting a crash” in the housing market. As Morrison already held the position of Housing Minister prior to his promotion to the country’s top job, he feels well-placed to comment on how his government aims…

Northern Territory airports $300m expansion plan announced

This week, the Northern Australia Infrastructure Facility (NAIF) announced a $300m expansion plan for Northern Territory Airports that should include a number of solar farms. NAIF will be providing its largest funding to date, offering $150m. Northern Territory Airports will meet the other half of the funding. Three airports will see the benefits of these…

RBA says mortgage stresses pose serious risk to economy

The Reserve Bank of Australia (RBA) has used its confirmation that interest rates will stay at 1.5% for the foreseeable future to forewarn of impending mortgage stresses that could have a negative effect on the economy. Calling the problem a “ticking time bomb,” it said in a release that a series of bad choices will…

Turnover of Australian properties hits 28-year low

The current uncertainty in the economic market has spread to Australian homeowners, with many now concerned that the market is too “thin” to risk selling their properties in case they are unable to secure a new dwelling. New data that stems from Westpac’s August 2018 Housing Pulse report has determined that the percentage of houses…

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