Construction loan commitments surge
The total value of new loan commitments for housing rose 5.9 per cent in September, seasonally adjusted, according to the latest Australian Bureau of Statistics (ABS) figures released today. The value of owner occupier home loan commitments rose 6.0 percent to $17.3 billion in September. ABS head of Finance and Wealth, Amanda Seneviratne, said, “Approximately […]
Scott Morrison: more banks means cheaper loans
Treasurer says make it easier for ADIs to call themselves banks will encourage new wave of fintech lenders The Government is going to make it easier for authorised deposit-taking institutions to call themselves banks, in the hope it will reduce the cost of loans. Currently only ADIs with more than $50m in capital can call […]
Mortgage approvals beat decade averages
Housing finance commitments have reached above decade averages in seven states and territories, and above year-ago levels in all economies, according to CommSec data. The latest State of the States report October 2020 has revealed that in seven of the states and territories, housing finance commitments are above decade averages, up from five in the previous quarter. […]
Industry unpacks Federal Budget 2020
The Federal Budget 2020-21 handed down by Treasurer Josh Frydenberg earlier this week introduced a raft of tax cuts, job creation measures and other stimulus intended to help get Australia through the COVID-19-triggered recession. Below, AB hears from key market players regarding what the budget means for small businesses, for the property market and for brokers. Small […]
CoreLogic Housing Finance Update
The following is an extract from the June Quarter edition of the Quarterly Economic and Property Review. Housing finance data over the June quarter revealed subdued new lending for dwelling purchases, and a pivot toward refinancing of existing loans to help reduce housing costs. In May, the value of new lending for the purchase of […]
Housing loan commitments fell sharply in May
The value of new loan commitments for housing fell sharply in May, down 11.6 per cent, seasonally adjusted, according to the latest Australian Bureau of Statistics figures released today. ABS Chief Economist, Bruce Hockman, said: “This was the largest fall in the history of the series, driven by strong falls in the value of loan […]
Better understanding the First Home Super Saver Scheme
Introduced in the Australian Government’s 2017/2018 Federal Budget, the First Home Super Saver (FHSS) scheme is designed to make purchasing your first home easier and more affordable. The FHSS gives you the opportunity to save money for a first home in your superannuation fund. In theory, this should help you to increase the speed at which you […]
Ever considered deposit bonds?
Co-founder of Deposit Assure, Etienne Rizzo made his mark in the graphic design and advertising industries and has managed high profile brands across a diverse range of categories for the last ten years, including Disneyland Resort Paris, Heinz and Medibank. MPA: Why should brokers be interested in deposit bonds?Etienne Rizzo: Have you ever had a client you […]
House prices could drop by up to 15% under Labor: Report
House prices could plummet by up to 15% over the next four years under the Labor Party, a report by SQM Research has claimed. The report, which investigates the housing market effects of the Labor Party’s proposal to change negative gearing, forecasts house prices could drop by up to 3% in FR2018, up to 8% […]
Home loan data suggests spike in refinancing
Home loan demand improved slightly in April, new data from the Australian Bureau of Statistics has found. According to the latest data, 57,576 home loans were written through the month of April – up 1.7% on the previous month. However, while the number of home loans written throughout the month was up, the value of […]