The recent release of the RP Data-Rismark Hedonic Daily Home Value Index results for March showed that national home values rose 0.2 per cent in March 2012 – a potential sign that the Australian housing market is stabilising. The market has remained unchanged for the quarter ending 31 March 2012; this flat result is the strongest result since March 2011 when values increased by 0.7 per cent.
According to the managing director of Rismark International, Ben Skilbeck: “While...Read complete post
The residential property market can sometimes be a confusing space to navigate, especially with the media attention it often generates and receives. The views of property commentators, as well as the constant flow of data released, often appear to be conflicting, with the media conveying sometimes contradictory signals to buy, sell, or hold.
I consider myself fortunate to be in the position I am, as I have access to our internal company data as well as the experience and opinions...Read complete post
In a move that was not too surprising, the Reserve Bank of Australia decided to leave the official cash rate on hold at 4.75 per cent when it met last week. This was the third meeting in a row that the decision to keep rates steady has been made.
In his statement following the announcement, the RBA Governor Glenn Stevens seemed to indicate that rates would remain at current levels for awhile yet, saying the Board judged that the mildly restrictive stance of monetary policy remained...Read complete post
At its meeting last week, the Reserve Bank of Australia decided to leave the official cash rate unchanged at 4.75 per cent. This choice is good news for the residential property market and will definitely help to ease the pressures felt by many Australian home owners and prospective buyers.
From where we sit at CENTURY 21 Australia, this decision was the appropriate one for the RBA to make. Parts of our nation have recently been devastated by flooding, the full impact of which...Read complete post
The real estate industry had what looked to be some positive news last week with the release of housing finance figures from the Australian Bureau of Statistics. The figures considered the level of finance commitments in November 2010, taking into account the different classes of borrowers as well as the varying purposes for seeking finance (e.g. purchase of a new home, construction of a home, etc).
In what was a positive sign for the Australian real estate market, the figures...Read complete post
In a package announced last week which included a variety of different banking reforms, the Treasurer Wayne Swan revealed the Government’s proposal to abolish home loan exit fees. This package in its entirety was put together to afford Australian consumers greater flexibility and choice when it comes to their banking.
Under the reforms proposed by the Treasurer, home loan exit fees will be abolished on all mortgages taken out from July 1, 2011.
In many ways, the package...Read complete post
I think we all breathed a sigh of relief last Tuesday when the Reserve Bank of Australia decided to leave interest rates unchanged for the month of December after raising them to 4.75 per cent from 4.5 per cent last month.
In his statement after the announcement, RBA governor Glenn Stevens commented that the board saw the current monetary policy setting as appropriate for the economic outlook. He also noted inflation is expected to see little change over the next few quarters,...Read complete post
For the past five months, the first Tuesday of every month has seen us here at Century 21 breathe a sigh of relief as the Reserve Bank of Australia delivered their decision to keep interest rates on hold. We assumed that the inevitable – a change in rates – would come at some stage, however each month brought the good news that reprieve had been granted for a little while longer.
But apparently this wasn’t to last with November bringing the (somewhat unexpected) news that the...Read complete post
Home loans can be quite interesting. They are often a topic of interest in the media and most people know of their existence even if they don’t actually have a mortgage themselves. However the finer details of what a home loan involves and how they work are often misunderstood, even to people who are mortgage holders.
Did you know, for example, that even if it takes you twenty plus years to repay the amount you originally borrowed to purchase a property, you do not have to stay...Read complete post
After six interest rate rises since October last year, the past couple of months have been somewhat of a relief for mortgage holders, with the Reserve Bank of Australia keeping interest rates on hold at 4.5 per cent. But rates won’t stay on hold forever and the RBA has already said that it will lift rates in August if it is uncomfortable with inflation levels.
For those of you dealing with a mortgage, such uncertain conditions can often be tricky and usually require some forward...Read complete post