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Home Loans Stabilising and Expanding

The Australian Bureau of Statistics reported that home loans for owner-occupied housing went up by 1.9 percent to 49,307. This is the fourth straight month that home loans have grown and economists are positive that they will continue to increase. October’s growth follows September’s increase of 1.3 percent.

Melbourne Now the Least Affordable City

A recent survey shows that Melbourne is now the least affordable major Australian city. Although the affordability of housing in Melbourne has improved, Melbourne properties are now more expensive than properties in Sydney.

Property Sales have Increased

Property sales have increased after a late start in spring property sales, which is historically the busiest time in real estate. October saw an increase in sales of property, with predictions by the real estate industry that this increase will continue.

New Homes making a comeback

Ever since the first home buyer grant was discontinued, property buying activity has reduced. A recent forecast though reveals that a 16 percent rise in New South Wales new properties which means that new properties are making a comeback.

NSW Budget Cuts Stamp Duty

In what became the centerpiece of the budget for New South Wales, the stamp duty fee will be removed for dwellings purchased off the plan worth up to $600,000. NSW statesman and Treasurer Eric Roozendaal commented that this new legislation will save a home buyer up to $22,490.

Managing Mortgage Stress

Everyone can be affected by mortgage stress what is important though is Managing your mortgage stress. Though interest rates play a big role, there are some uncontrollable factors that can contribute such as illness, unemployment and a breakdown of a relationship.

Interest Only Home Loans