First home buyer scheme delivering results
Reading Time: 2 minutesThe federal government’s Home Guarantee Scheme (HGS) is proving to be a significant boost for first home buyers. According to a new report from Housing Australia, around one in three first home buyers who entered the market during the 2023-24 financial year used the scheme to secure their home. The HGS allows eligible first-time buyers, […]
5% of Borrowers Facing Cash Flow Shortfall Amid Rising Interest Rates
Reading Time: 3 minutesRising interest rates have led to financial strain for a subset of Australian mortgage borrowers, with about 5% facing a cash flow shortfall, according to Reserve Bank of Australia (RBA) Governor Michele Bullock. While higher rates have been deemed essential to curbing inflation, they have also put pressure on households with variable-rate loans. Governor Bullock […]
Property Investor Borrowing Surges 49.2% Since January 2023
Reading Time: 3 minutesInvestor borrowing in Australia’s property market is on the rise, nearing record levels and showing a strong resurgence. According to the latest data from the Australian Bureau of Statistics, property investors signed up for $11.708 billion worth of home loans in July 2024, marking a significant 49.2% increase since January 2023. This upward trend follows […]
Lender’s Mortgage Insurance (LMI) Explained: A Comprehensive Guide for Homebuyers
Reading Time: 8 minutesBuying a home is one of the most significant financial decisions you’ll ever make, and for many Australians, securing a home loan can feel daunting—especially if you don’t have a 20% deposit. This is where Lender’s Mortgage Insurance (LMI) comes into play. LMI is a type of insurance designed to protect the lender if the […]
Australian Property Listings Surge by 7.9% in August, Changing the Buyer-Seller Dynamic
Reading Time: 3 minutesThe Australian property market is heating up for spring, with a significant increase in the number of properties listed for sale. According to SQM Research, a total of 249,523 properties were listed in August, marking a 7.9% rise from the previous month and an 11.1% increase compared to the same time last year. This surge […]
Australia’s GDP Growth Slows to 1.5%, Bringing Rate Cut Closer
Reading Time: 3 minutesAustralia’s economy is growing at its slowest pace in over 30 years, outside of the pandemic period, which could pave the way for an interest rate cut in the near future. According to the Australian Bureau of Statistics, the nation’s gross domestic product (GDP) increased by just 0.2% in the June quarter and by 1.5% […]