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…
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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…
Australia’s official cash rate has plunged to 0.10 per cent, marking the lowest interest rates in the nation’s history. Economists of the Reserve Bank of Australia (RBA) today decided to slash rates in a bid to stimulate the country’s economy out of a COVID-19-driven recession. It’s the third time interest rates have been cut this…
In line with economist expectations, the RBA has kept the cash rate on hold at 0.25 per cent. All 40 experts featured on the Finder website predicted the hold decision. The decision comes as RBA governor Philip Lowe hinted that the historically low rate will remain that way for a number of years until progress is made…
The Reserve Bank had some good news for the Sydney market on Friday, declaring a “strong bounce-back” in auction rates and listings returning to normal levels. While housing prices in most capital cities have declined a little since May, the rising equity market meant household wealth remained largely unchanged, despite the deep recession caused by the coronavirus…
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The government has developed a new package of measures designed to improve housing affordability across NSW. Supporting first home buyers The NSW Government’s comprehensive package to improve housing affordability is focused on helping first home buyers, who often face stiff competition from investors. For first home buyers, this comprehensive package will: abolish stamp duty on all…