US home sales fall to 26 year low
Further evidence of the crumbling US housing market was revealed, with the news that total new home sales in the United States in 2008 dropp...
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Opportunity for investors in Australian property
Property prices will not drop as much in Australia as they have in the UK or US, but savvy local investors can still capitalise on bargains....
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Financial services get more expensive
Over the year to December 2008, the price of financial and insurance services increased by 7%, or roughly double the overall increase in con...
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Long wait for Westpac loans
Mortgage applications to Westpac have been taking as long as six weeks to process, because the bank's lending criteria has not been tigh...
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UK brokers turn to cross-selling and diversification
Tough mortgage market conditions have led Australian mortgage brokers to diversify their businesses and UK brokers appear to have followed s...
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Unemployment to push mortgage stress upwards in 2009
Rising job losses could see mortgage stress rise to levels higher than those recorded during the interest rate pain of 2008. According to Fu...
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Australian property ‘severely unaffordable’
According to a global housing affordability survey, Australia’s housing bubble has yet to burst and “sooner or later,” the market is likely ...
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More rental properties now lie vacant
According to property market research house SQM, vacancy rates are on the rise. According to the report, Melbourne recorded the highest vaca...
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US housing market continues to crumble
The state of the United States’ housing market continues to deteriorate with new economic data pointing to an increasingly dire situation. D...
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Borrowers take advantage of lower rates to reduce debt
Australian borrowers are determined to use lower interest rates to get ahead on their mortgages and overall financial situation. According t...
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UK government to boost lending
British prime minister Gordon Brown has announced a second bailout package to stabilise the ailing financial sector and ensure the resumptio...
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Consumer and businesses cautious about debt
While home buyers returned to the market in November 2008, consumers and businesses still remain cautious about taking on debt. According to...
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Cost cutting minus job cuts
Labour force figures released from the Australian Bureau of Statistics for the month of December 2008, have shown a decline in the proportio...
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Rising rental yields to boost investment appeal in 2009
According to RP Data, the industry could see investors return to the market by mid to late 2009 as rental yields continue to increase. RP Da...
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Card spending kept to a minimum
Spending on payment cards increased at a very low rate in November 2008, compared with the year before, and fell 9% from October 2008. The n...
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Low rates for the rich: UK
Borrowers in Great Britain will be able to lock in a home loan rate of just 2.99% next month following the launch of HSBC’s cheapest ever ho...
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First home buyers are back
Lower interest rates and government incentives have seen first home buyers return to the market. According to the ABS, the percentage of hom...
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Office markets to feel the brunt of economic crisis
Rising unemployment and lacklustre economic growth are tipped to batter Australia’s commercial property markets in 2009. While the commercia...
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Drop in investment to push rents higher
A fall in investor activity in November 2008 bodes ill for an already tight rental market, but could encourage more buyers into home ownersh...
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December 2008 mortgage sales up
According to AFG’s latest Mortgage Index, mortgage sales recorded a stronger than expected result in December 2008. While total loan volumes...
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NAB trims maximum loan level
National Australia Bank cut its maximum loan to valuation ratio on a home loan to 95%. ANZ cuts its maximum LVR to 90% in November 2008. Mos...
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Cash options in demand
Australian Super said the number of members selecting the fund cash investment option doubled over the December 2008 quarter, though off a l...
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Australia’s AAA rating affirms sound finances and resilient economy
While global economic conditions are widely tipped to worsen in 2009, Australia is well-placed to ride the storm. Standard & Poor’s yest...
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Industry commentators warn of property price drop ahead
Australia is likely to be spared the hammering experienced by the US and UK property markets, but the domestic industry should brace for a f...
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Government urged to review FHOG boost before removing
The Real Estate Institute of Australia (REIA) has prepared a pre-budget submission to the Commonwealth Government, calling for a thorough re...
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First Home Owners Grant hits the mark
Figures released by Housing Minister Tanya Plibersek, reveals that 5,385 first home buyers took advantage of the FHOG boost in November 2008...
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Life insurance inadequate for most
More than a quarter of working households say they need life insurance cover of $400,000 or more, according to a survey by the Australian In...
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Margin calls hit new record highs
According to the Reserve Bank of Australia, almost 900 investors per day were subjected to margin calls during the September quarter of 2008...
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UK rates cut another 0.5%
The Bank of England has cut the cash rate to just 1.5% as its economy faces an ever worsening situation. In a statement released overnight r...
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Mortgage stress overstated
According to the Mortgage and Finance Association of Australia (MFAA), less people are having trouble meeting mortgage repayments than is ge...
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Keep more cash in your pocket
Below are some solutions to help you keep more of your hard-earned money. For more tips on saving money, speak to one of the experienced fin...
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Rate cuts and incentives fail to boost new home sales
New home sales recorded a disappointing decline in November 2008, despite interest rate reductions and first home buyer incentives from the ...
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Beware of tax office emails
The Australian Tax Office is warning people about a fraudulent email being circulated that claims to offer a refund from the Tax Office. It ...
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Upbeat borrowers bode well for lending activity
According to figures released by the MFAA/BankWest Home Finance Index today, Australian households are managing the economic downturn reason...
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Australians prefer property to shares
Significant reductions to the cash rate may have had an impact as more Australians plan to choose property over shares in 2009. An online po...
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Brokers rank high with young home buyers
According to the results of the latest MFAA/BankWest Home Finance Index, approximately 42% of people surveyed under the age of 29 were likel...
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Job vacancy decline eases in December 08
The decline in job vacancies stabilised at the end of 2008, a possible indication that employment prospects may not be as weak as anticipate...
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