Apart from higher prices making it harder for our kids to get into the property market, there is the broader impact on the economy.
MORTGAGE
Aussies have used the pandemic-induced lull in their lives to hunt around for a better bank deal, pushing the value of refinanced mortgages to record heights.
The latest figures from the Australian Bureau of Statistics reveal mortgage refinancing skyrocketed to an all-time high in June, 2021.
Research endorsing past limits on investor and interest-only loans will give regulators new evidence to consider.
Older Australians allowed to draw on superannuation to fund property loans are being afforded an unfair advantage, a leading business academic says.
More than one third of Australian properties are cheaper to buy than rent.
The amount of outstanding home loans in Australia grew by the fastest monthly pace in four years, remaining largely with owner-occupiers.
Home buyers now need to be making a six figure salary to afford the mortgage on an average house or apartment in Sydney
Mortgage deferrals slashed again (https://www.businessinsider.com.au/australia-mortgage-deferrals-loans-repayments-2021-1)
Australian mortgage deferrals have fallen to just a quarter of their peak, according to the latest APRA figures.
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South East Queensland’s unprecedented sales swell continues to attract interstate developers and underpin major projects, with ID_LAND, Little Projects, Sammut Group, Azzura Corporation and Pikos Property making big progress on more than $800 million worth of new developments in recent weeks.
Property price records are tumbling across Victoria, with more than 170 suburbs in Melbourne laying claim to a median house price of $1 million or more, while several key regional locations have also breached the seven-figure barrier.
New lending restrictions will affect different parts of the property market more than others - dig into the details and find out what the changes mean for first homebuyers, investors and trade-up buyers.
Australians downsizing to luxury apartments are driving a rapid rise in prestige property values, with sales of apartments worth $10 million or more in the first half of the year running at nearly eight times more than the 10-year average.
Pent up demand from Sydney buyers emerging from lockdown and Melbourne purchasers likely to soon follow is expected to result in a resumption of the big price gains recorded in the first half of 2021, with both cities remaining in a state of housing undersupply.
Victoria’s state government has made a range of changes to its Windfall Gains Tax prior to it being introduced to Parliament, but industry groups say the move is the “wrong tax at the wrong time” that will have a big negative impact on housing affordability.
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