March 18th, 2010
Stockland CEO Matthew Quinn has warned that housing affordability is set to worsen with the shortfall in homes increasing to 0.8m by 2020. Increased immigration combined with inadequate planning by state governments have resulted in a shortfall of 60K homes per annum. The imbalance of supply and demand has seen property prices rising sharply in all Australian cities.
The median price of a home in Sydney is $485,000 nearly ten times the average wage making Sydney 50% more expensive than the “over valued” UK market.
Tags: australia, for sale, homes, property market, real estate
Posted in General real estate | Comments Off
March 9th, 2010
The big 4 banks in Australia have all followed the RBA and raised their mortgage rates by a further 25 pts. Official base rates are now at 4% Homeowners will be pleased to hear that all of the banks have restricted their increase to match the RBA rather than adding on additional profit margin as they did late last year a move that generated wide spread criticism.
Economists warn that further rate rises are inevitable and homebuyers or those seeing to drawdown to release equity should factor this in when budgeting their mortgage repayments.
Tags: mortgage
Posted in General real estate | 1 Comment »
March 3rd, 2010
the RBA has today increased base rates by a further 0.25 pts to take official inerest rates to 4.0% we wait to see what action the banks take in passing the rate rise onto their mortgage customers
Tags: mortgage
Posted in General real estate | 2 Comments »
