Alan Oster, the chief economist at NAB , anticipates that the Reserve Bank of Australia (RBA) will commence the process of reducing interest rates in February as inflation continues to subside and wage growth stabilises. NAB predicts that the initial reduction will be 25 basis points, marking the beginning of a gradual transition to a …
Big Savings Ahead? NAB Predicts Early Rate Cuts in 2025! Read More »
Confidence in the housing market is rising, with new data revealing a 9.1% jump in home loans for the purchase and construction of new homes in the three months leading up to August, compared to the same period last year. “This growth in lending comes from a shallow base,” said Tim Reardon, chief economist of …
Housing Market shows resilience with growth in New home lending Read More »
Key Highlights: Loan Boom in Australia: Western Australia and Victoria • Western Australia and Victoria are driving the expansion of owner-occupied loans, with yearly increases of 7% and 6% respectively. • Mortgage Insights reports an 8.8% annual increase in the average interest rate on a new house loan in Australia. • Buyer activity is shifting …
Improved affordability and vendor losses continue failing to attract buyers, according to CoreLogic data showing 65 Sydney and Melbourne unit markets remain below their 2010 peak prices. “A 3.5% decline in mining drove the fall in business turnover,” says the report of CoreLogic. Why do buyers hesitate? Buyer resistance is mostly caused by the “wrong …
How to Beat Buyer Hesitation in the Undervalued Unit Market! Read More »
ANZ, one of the big banks in Australia, has lowered its interest rates on fixed-term home loans. This means that if you borrow money from ANZ for a home loan with a fixed interest rate, you’ll now pay less each month. The new rates are lower than before, especially for those who want to lock …
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