Posts Tagged ‘Government’ home

The Australian Prudential Regulation Authority (APRA) has increased the serviceability buffer in response to concerns around rising household debt levels throughout the nation; advising authorised lenders that when assessing a new borrower’s ability to service their loan payments to work on an interest rate at least 3% higher than the current product loan rate. The previous buffer in place was 2.5%.

APRA Chair Wayne Byres said that whilst they have strong … Read the full post »

With housing affordability at crisis levels – for both renters and buyers, the Federal Government recently announced the extension of the New Home Guarantee, and the establishment of a new program called the Family Home Guarantee, to assist people to purchase their first home.

10,000 First Home Loan Deposit Scheme places are available for the 2021-22 financial year; and an additional 10,000 New Home Guarantee places will be available also throughout … Read the full post »

The level of movement of capital city dwellers to regional areas is at a three-year high, while net regional migration in the latest quarter is 66 percent higher than a year ago, according to research.

The Commonwealth Bank of Australia (CBA) has released its Regional Movers Index in partnership with the Regional Australia Institute (RAI), which has shown the changes in population flows from capital cities to regional areas.

The index has revealed that … Read the full post »

Last Tuesday Federal Treasurer Josh Frydenberg delivered the annual budget; a big-spending, jobs-focused budget which contained help for single parents and first home buyers to enter the property market, partially by encouragement incentives for Australians nearing retirement to downsize their homes, in order to free up more housing for younger families and help more people into home ownership.

Those aged over 60 will be allowed to contribute up to $300,000 into … Read the full post »

Analysis by BIS Oxford Economics, Australia’s leading economic and industry forecaster, predicts that Australia’s regional property market will continue its strong growth into 2023, despite government stimulus packages being withdrawn.

Their research suggests that despite incoming bumps to dwelling supply due to government stimulus money and changing consumer preferences, regional markets are expected to remain tight.

Data released by Domain showed regional areas have outperformed over the last 12 months, with the … Read the full post »

The federal government is currently weighing up proposed changes to responsible lending laws, that could see a relaxation in credit terms, as part of the recovery from the financial devastation of COVID19.

If the amendments are passed, loan approvals for investors should become more streamlined; making access to credit more effortless than it has been in the past; particularly after the tightening up post-GFC (Global Financial Crisis), and further down the … Read the full post »

When we reflect on the year now gone, one of the biggest questions many economists and property analysts have asked, and addressed – is why didn’t the Australian property market crash in response to the global pandemic?

When the COVID19 outbreak began, the headlines were filled with doom and gloom as we headed to our first recession in over 28 years…yet somehow the property market has pulled through remarkably well, and … Read the full post »

On Sunday November 29, the Federal Government announced the extension of the HomeBuilder program from January 1, 2021 to March 31, 2021.

HomeBuilder provides eligible owner-occupiers (including first home buyers) with a grant to build a new home or substantially renovate an existing home. HomeBuilder assists the residential construction sector by encouraging the commencement of new home builds and renovations.

Changes to the HomeBuilder program include:

A $15,000 grant for building contracts … Read the full post »

The Queensland state government has announced that it will stick with the original deadline of the eviction moratorium for residential tenants. Under the announcement, the moratorium, which is applied to residential tenants suffering an income loss of at least 25% amid the COVID-19 pandemic, will be lifted by the end of the month.

Housing Minister Mick de Brenni said Queensland’s economy is faring better than other states, making it ideal to … Read the full post »

Firstly, we hope that all the mothers out there had a wonderful mother’s day and got the opportunity to spend time with your family, if possible; or at the very least have some contact via social media interactive platforms like Zoom or facetime, or a telephone call.  It is very important that we all stay connected with our loved ones, despite the challenging environment we are currently living in.

From last … Read the full post »

Firstly, we hope you all enjoyed a great long weekend and an ease in restrictions – it was wonderful to see people out and about enjoying the sunshine and fresh air, whilst practising social distancing.  Keep up the good work, and we may all come out of this on the other side, sooner rather than later.

In the midst of this COVID-19 crisis, some property commentators and key industry figures across … Read the full post »