The Reserve Bank has warned that a debt-fuelled surge in house prices could leave households more exposed to financial shocks, as it urged banks not to let their lending standards slip. With house prices soaring at their fastest pace since the late 1980s, the RBA on Friday said it was closely watching the property market…
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As widely predicted, the RBA has decided to hold the cash rate at a record-low 0.1 of a percentage point. CreditorWatch chief economist Harley Dale said the decision to leave interest rates on hold comes as no surprise. “The official cash rate is at a record low of 0.1 [of a percentage point] and the RBA…
Australia’s property market has recorded its strongest rise in almost five years with the average price of a residential home now more than $720,000.New figures released today from the Australian Bureau of Statistics (ABS) found residential property prices rose in all capital cities in the December quarter of 2020.The total value of Australia’s 10.6 million residential dwellings…
Congratulations to Vanessa Kim on winning Agent of the Year in the 2021 Rate My Agent Awards. This is a true testament to the excellent level of customer service Vanessa consistently provided throughout a year that was like no other. A fantastic achievement, putting her in the top 5% of agents in Australia.
You’ve probably heard of 3D-printed face masks and even 3D-printed hands, as 3D printing technology has expanded over the past few decades.Now a company says it has listed the first 3D-printed house in the US for sale. The Riverhead, New York, home is listed online through Zillow with an asking price of US$299,999 ($390,987).”This is…
Property experts are forecasting 2021 to be a boon year for Australian house prices as the market surges through a temporary “pause” created by COVID-19.New analysis by Propertyology’s head of research Simon Pressley predicts that five out of eight Australian capital cities will produce double-digit house price growth in the coming 12 months.What’s more, Mr…
At the height of the pandemic, major banking economists sounded the alarm. They warned the coronavirus-induced recession could shave hundreds of thousands of dollars off the value of Sydney and Melbourne homes. But as the worst of the national COVID-19 restrictions passed, property prices fell only marginally. Forecasters are now tipping values to rise more…
National house prices are on track to recover losses suffered in the pandemic and hit a new high by February if the current level of growth is maintained, the latest CoreLogic property price index says. Australian property prices rose for the second consecutive month in November, increasing by 0.8 per cent, driven by record low interest rates and…
The Federal Government has announced an additional 10,000 places in its First home Loan Deposit Scheme in a bid to help more Australians into their first home. Announced this morning, the additional 10,000 places will be provided by October 6 this year. Under the existing First Home Loan Deposit Scheme, eligible first home buyers can…