17/02/2023
Australians saving a house deposit need to have tens of thousands of dollars more than they did just three years ago, even as prices fall in the market downturn. The savings required for a 20 per cent deposit ballooned during the pandemic property boom, which saw house prices skyrocket in Sydney and Melbourne, and are […]
26/01/2023
Weaker prices, more modest interest rate rises on the horizon and a flurry of homes coming up for sale have dramatically turned Sydney into a buyers’ market for the first time in three years. And while housing experts might be divided on many topics, they’re united on this: now is the time to buy before […]
19/01/2023
Half as many first-home buyers are circling the market in search of a place to call their own right now, which means it could be a great time to pounce for those with a deposit. The latest ABS Lending Indicators data reveals that the number of first-home buyers fell 3.2 per cent to 8576, a […]
15/01/2023
Although it’s not the top priority, 38 per cent of first home buyers (FHBs) said that having space for their pets was extremely important in regard to purchasing their first property, while 23 per cent ranked proximity to family as extremely important. According to CommBank research, the top priorities for FHBs when it comes to […]
12/01/2023
First homebuyers in NSW could save tens of thousands of dollars off the cost of their home purchase if Labor is elected to government thanks to a new stamp duty policy launched by the state opposition on Monday. NSW Labor leader Chris Minns said more than 46,000 future homeowners would benefit from paying no stamp […]
11/01/2023
Buying your next home can be a daunting task, especially if it’s your first home. It’s exciting but full of complexities. While it’s likely to be the largest financial transaction you will ever make, we’ve found that many home buyers are poorly prepared to ensure they make a good purchase decision. And it’s not their fault. The […]
03/01/2023
Refinance volumes to continue I’M SEEING many of my clients purchasing, as it’s [still] a great time to buy at the moment. A lot of first home buyers are getting into the market and taking advantage of the record number of government grants and schemes, [but] we are also starting to do a lot of refinances for […]
06/12/2022
The $73.5 million Rezoning Pathways Program will see 10 land rezonings, mainly in Western Sydney, NSW Premier Dominic Perrottet said. The program is a part of the government’s larger $2.8 billion housing package, according to Minister for Planning and Minister for Homes, Anthony Roberts. The NSW government will assess certain state or regionally significant planning […]
01/12/2022
Queensland broker, Carol King, at Loan Market Buderim raised concerns earlier this year when multiple single clients kept getting their loan applications denied because their full family benefits were not taken into consideration by multiple lenders. For example, one client who was a single mum, working full-time, and had four dependent children’s home loan application was not reviewed […]
25/11/2022
Since its introduction earlier this year, the Albanese government’s Regional First Home Buyer Guarantee scheme has assisted numerous Australians into home ownership. An election promise ratified once the Labor Party came into power, the program assists regional home buyers to purchase their home with a 5 per cent deposit as the government guarantees up to 15 per […]
24/11/2022
The NSW government will be giving first home buyers the option to opt out of paying stamp duty in favour of an ongoing property tax as of 16 January 2023 after passing the First Home Buyer Choice (FHBC) policy in November. Eligible first home buyers are offered the opportunity to pay a smaller annual property fee or […]
19/11/2022
An ordinary first home buyer has access to an extra $31,000 in spending power since stamp duty was made optional, new modelling shows. The NSW government changed the law last week, allowing first home buyers to choose whether they pay property transfer tax in lump sum, known as stamp duty, or as an annual land tax […]
07/06/2022
The new lenders set to offer the Australian Government’s Home Guarantee Scheme include Credit Union SA, Illawarra Credit Union, IMB Bank, Newcastle Permanent Building Society, and Unity Bank. Previously called the First Home Loan Deposit Scheme, home buyers using the scheme can enter the market with a 5% deposit without paying lenders mortgage insurance. The National Housing Finance and […]
11/04/2022
How hard is it to get a mortgage? Unless you’ve been living under a rock, you’ll know the banks and lenders have seriously cracked down on home lending. Take this for example. In one loan application, Mortgage Choice told Savings.com.au that a couple provided a detailed breakdown of their living expenses, only to have the […]
21/02/2022
A whole generation of parents has been reportedly dishing out a seemingly bottomless pool of funds to help frustrated first-home buyers get on the property ladder amidst skyrocketing real estate prices. However, that is just not the case. The reach of this unique “bank” has come under the spotlight and it now seems the metaphorical […]
29/11/2021
Are you thinking about jumping aboard the home owner bandwagon? We’ve compiled a list of six essential steps to help improve your chances of securing your first home loan. 1. Analyse your expenses Understanding your financial position is the first step towards setting a budget for your property purchase. This can be confronting, as […]
26/10/2021
Paying off a mortgage in times past used to take most homebuyers about 20 years – today that’s close to how long some first-time buyers will need to simply save a deposit. Analysis provided exclusively to the Sunday Telegraph showed first homebuyers in some city areas needed just over 18 years to save a 20 […]
28/05/2021
Last year, banks made a number of changes in response to growing credit quality risks, leaving many Australians facing a tougher hurdle to get onto the property ladder, or even to refinance an existing loan. Banks are now requesting more proof of income, are withdrawing lenders mortgage insurance waivers and are even denying loans altogether to workers […]
25/05/2021
The number of new properties listed for sale on realestate.com.au has been trending higher in 2021, despite the inaugural REA Insights Listings Report released on Thursday showing a moderate dip in April. But the total supply of properties listed for sale remains low, indicating properties are selling quickly amid strong buyer demand. View the report: […]
21/05/2021
Tuesday’s big-spending and jobs-focused federal budget contains help for single parents and more first-home buyers to get into Australia’s hot property market, as well as tax relief for 10.2 million low and middle income earners. The biggest housing initiative in the budget is aimed at encouraging more Australians nearing retirement to downsize from the family […]
