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February rate cut tipped to boost Australian housing market
By Larry Schlesinger Friday, 13 January 2012 Economists are tipping the central bank to deliver a 25-basis-point cut to interest rates at its February 7 meeting, a move that would almost certainly boost the property market. The futures market is pricing in a 99% probability …
Owning home more difficult despite jobs
It’s now easier to get a job, but owning your own home is expected to become much more difficult. As the nation moves into a period of higher house prices, rising interest rates and falling unemployment, economic commentators are pointing to declining housing affordability over …
Housing affordability: a real problem or just a whinge?
Have we become overly obsessed with housing affordability? There’s been a government summit into what is shaping up as a huge election issue. Even Aussie Home Loans’ John Symond — who lives in a house estimate to cost more than $70million — is worried about …
Housing affordability worsens
Housing affordability in Australia has continued to decline over the June quarter, according to a Real Estate Institute of Australia (REIA) report. The Deposit Power Housing Affordability Report shows that the decline in the June quarter was the sixth consecutive quarterly decline in housing affordability. …
Foretold: Leaders ignore housing affordability
Like some carnival mystic, before the last election I wrote some predictions in an envelope and sealed it, with instructions only to open it after the election was over. Lo and behold, when I opened the envelope afterwards my prediction proved right: ”That neither party …
How to lose the mortgage millstone
Here’s a challenge. How fast could you pay your mortgage off? The sad realisation hit me earlier in the year that I’m not likely to get rich anytime soon. I know – why did I even think that would happen? The only path to financial …
Pedlars of House Price Doom off the Mark
The level of household debt in Australia has risen over the past three decades from less than 50 per cent of household disposable income to about 150 per cent. Ric Battellino, the Reserve Bank of Australia deputy governor, has sought to allay concerns that this …
Fixed rate demand dives below 3% once again
Standard variable loan popularity hits 18-month high Despite the cost difference between fixed and variable interest rates dropping, June saw a higher percentage of Australians turning their backs on locking in their home loan rate. According to the latest loan approval data from Mortgage Choice, …
Home prices chipping away at fairness: Ratings executive
S&P credit ratings expert confirms the strength of the housing sector but questions the benefit of high home prices for society A managing director of a credit ratings agency responsible for scoring the quality of Australia’s mortgage debt has questioned the social impact of the …
The Next RBA Move will be Downwards
When yours truly was on Seven’s Sunrise back in May it was acknowledged by both David Koch and myself that the Reserve Bank of Australia (RBA) would be unlikely to lift rates that day, with the knowledge that things were looking worse in Europe and …
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