Potential borrower who want to borrow 100% of the purchase prices are most likely be unsuccessful and will need to show they can save for a deposit, according to mortgage broker Loan Market. Inquiries for 100 per cent home loans have surged 250 per cent since the federal government’s more generous first home owners grant …
Owner occupied house finance falls 5.5%
Australian housing finance commitments for owner-occupied housing fell 5.5 per cent in December, seasonally adjusted, to 55,632 the Australian Bureau of Statistics said on Wednesday. Economists had expected the number of owner-occupier housing finance commitments to have fallen by 5.0 per cent in December. Total housing finance by value fell by 2.8 per cent in …
Strongest annual house prices growth since 2003
The medium-to-long-term outlook for property prices remains strong as the population grows, incomes rise and demand for houses outstrips new supply, says an Australian Property Monitors’ report. Despite a sluggish start, 2009 ended with the biggest price growth since 2003 on a rise in activity at the top end of the market, the APM 2009 …
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End of the First Home Buyer Grant Boost will NOT Hurt NSW and ACT Property
Angus Raine, CEO of Raine & Horne is optimistic for the residential property markets in NSW & ACT in 2010. “There is some concern the end of the First Home Owners Boost (FHOB) will hurt the market,” says Mr Raine. “I don’t agree with this assessment. The Federal Government was smart to extend the FHOB …
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How will the First Home Buyers Cap affect you?
With Australia’s economy continuing to rebound, the Federal Government has introduced a First Home Buyer’s Cap on new and existing homes, effective from January 1, 2010. Under the cap, fi rst home buyers will be restricted to purchasing homes less than $750,000 in NSW, WA and Northern Territory and $1 million in Queensland. Australian Property …
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