A review of low documentation, or ‘low doc’, home loans by the Australian Securities and Investments Commission (ASIC) has discovered that lenders have tightened their policies around these mortgage products since 2010. Before new responsible lending laws were introduced in 2010, borrowers did not always have their financial circumstances verified for a low doc loans,…
Latest Property News
A day after warnings from the Reserve Bank about the booming property market, new figures show that price growth is slowing in capital city markets. Domain Group released its State of the Market Report for spring on Thursday which predicts that Sydney’s median house price will lift between 5 and 7 per cent this financial…
Chinese buyer demand for Australian property is set to rise even further now the United States has halted an immigration visa program until October 2015. The hold on US approvals for the popular EB-5 visa follows an unprecedented demand from predominantly Chinese nationals, maxing out the 10,667 allowable visas for this financial year. Australia is…
High auction numbers are set to continue to test the market through June with more than 560 homes scheduled to go under the hammer this weekend – well ahead of last year’s 424. Sydney’s inner west will host the most auctions with 112 followed by the upper north shore with 73, the south with 65,…
It was certainly a May Super Saturday for the vendors of 6 Myee Avenue, Strathfield, selling their European-inspired masterpiece for $2,760,000 – $260,000 over reserve. Back to the Myee Avenue, Strathfield auction, in 2011, owner-builders Richard and Rachelle Nader purchased a small red-brick house on the 765-square-metre site for $1.3 million. In the past 12 months, they…
The Reserve Bank has decided to leave interest rates on hold over June with the likely prospect that the current settings will remain throughout 2014. The Bank has indicated it is taking a wait-and-see approach and that rates are likely to stay at current levels reflecting recent mixed economic news. Unemployment rates have remained steady…
The Reserve Bank has decided to leave interest rates on hold over June with the likely prospect that the current settings will remain throughout 2014. The Bank has indicated it is taking a wait-and-see approach and that rates are likely to stay at current levels reflecting recent mixed economic news. Unemployment rates have remained steady…
Australia’s property market has been named one of the 10 hottest in the world for prices growth. The Knight Frank Global House Price Index has ranked Australia’s property price growth over the past year as the seventh-strongest internationally following an annual increase of 10.9 per cent. The news of Australia’s official ranking may feed property…