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Aussie Home Loans has slashed its standard variable rate 100 basis points to 6.65 per cent for new and existing borrowers, following yesterday’s fall in official rates by the Reserve Bank
Opinion is sharply divided on the outlook for property prices in 2009. While the negatives outnumber the positives, on balance, the market is unlikely to fall more than 10-20 percent, nor rise more than five percent.
The Federal Government has doubled the First Home Owners Grant to $14,000 from $7,000, and tripled the grant for newly built homes to $21,000, injecting $1.5 billion into the property market.
If you can hold on to your job, then the easing in interest rates can only spell good news for current and potential home buyers.
Fixing your home loan can sometimes prove a millstone. While it might give you peace of mind knowing exactly how much money you will be paying month in and month out till the end of the loan term, you can end up paying seriously over the odds if rates are falling.
As the global finance crisis unravels, the impacts are yet to be fully felt in the Australian property market. But if you are looking at buying, find out which areas some experts tip.
All eyes are on Australia’s property market after the global financial crisis. It is the bellwether of Australia’s emotional health and there are few who would argue that prices are inflated and affordability is low.
Australian property owners have observed the recent global financial crisis nervously from the sidelines. Concerns that a recession-led rise in unemployment will affect rents and property prices are well-founded.