Tips for First Home Buyers

Even when house prices and interest rates steadily rise, it is still possible to save for a deposit, tips for first home buyers that will help reduce your debt and start saving for a new home. First, you must have a budget so that you can have discipline financially. Without discipline, it would still be difficult for a first time home buyer to get a home or use the Government’s First Home Saver Account.

NSW Budget Cuts Stamp Duty

The NSW government made a surprising move to remove stamp duty fees on new properties. This move has been commended by experts in the property industry as a stepping stone towards the removal of chronic housing shortages in the state.
From 1st July 2010, stamp duty will be removed for the next two years for any off the [...]

Auction clearance rates remain high

Auction Clearance Rates Remain High 
Despite rising interest rates, results show that auction clearance rates continue to surge in Melbourne and Sydney. According to data of the Australian Property Monitors, the clearance rate in Sydney is at 71.2 percent on 359 listed houses. This is a 1.4 percent increase from the clearance rate during the weekend before [...]

Biggest home in the free world for sale

MyFoxOrlando.com reported a mansion that is regarded as the largest single family house that is up for sale. This property is a three-storey replica of Louis XIV’s 17thcentury palace which covers 90,000 square feet. Its construction has lasted for 10 years although it is not yet finished. Coldwell Banker Real Estate agent Lorraine Barrett said this [...]

Interest rates bite buyer demand

Auction clearance rates in Melbourne in Sydney are taking a dip due to the of the last interest rate hike.  Since the Reserve Bank of Australia announced that the latest interest rate increase, the clearance rate in Sydney went down to 66.3 percent from 69.4 percent.
In Melbourne, the lack of demand for properties saw the auction clearance [...]

Land Tax Relief for South Australians

Treasurer Kevin Foley introduced to the South Australian State Parliament a land tax relief package that will increase the tax-free limit to $300,000 effective July 1. This new legislation will bring cuts that were outlined in the Mid-Year Budget Review for 2009-2010. Also, this new legislation will benefit about 100,000 South Australian property owners who [...]

Australia Leads World in House Price Recovery

According to the economic report by Canadian bank Scotiabank, Australia has taken over Canada as the country with the best recovery of residential house prices among twelve developed countries. During the first quarter of 2010, Australia took the top spot despite the interest rate hike by the Reserve Bank of Australia.
Adrienne Warren, Senior Economist for [...]

RBA increases cash rate by 0.25%

THE Reserve Bank of Australia has increased the official cash rate up another 25 basis points and indicated they have now reached “average” for borrowers.  
The rise of  0.25 per cent means an increase to 4.5 per cent on the cash rate.  This will add about $46 a month to repayments on an average $300,000 [...]

Interest Rates Rise to Pause?

The Reserve Bank of Australia is nearly done in returning interest rates to normal levels but new changes in these rates might be triggered by new inflation numbers.
RBA Governor Glenn Stevens said during a business forum in Toowoomba that the recovering economy triggered them to bring back interest rates close to the average level for [...]

Mortgage Interest Rates may hit 10%

To avoid inflation, the Reserve Bank of Australia will most likely increase mortgage rates to ten percent over the next two years. The top economists site rising employment and increasing commercial prices have prompted the RBA to make such a move.
 Because of which, economists of Commsec, the investment arm of the Commonwealth Bank, and Macquarie [...]

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