The Reserve Bank of Australia caused few surprises when it lifted the country’s official interest rate by 25 basis points to 3.35% in February. After all, annual inflation jumped by 7.8% over the December quarter, according to the Australian Bureau of Statistics. That’s not just a 32-year high; it’s also...
Why higher interest rates might ultimately benefit homebuyers
The Reserve Bank of Australia might have raised the cash rate by 250 basis points since May to 2.60% – the quickest tightening in nearly three decades – but a senior central bank official has claimed higher interest rates could ultimately benefit new homebuyers. In a recent speech, Jonathan Kearns, the...
What expenses can investors claim on their investment property?
Every year, the Australian Taxation Office announces its key focus areas for tax time. And almost every time, investment property income and deductions make the list as problem areas in which taxpayers commonly make mistakes. ATO assistant commissioner Tim Loh said that all property investors should make sure they include...
Australia’s home loan wars heat up
Home loan interest rates are on the rise, thanks to back-to-back cash rate hikes from the Reserve Bank of Australia that have seen the country’s official interest rate jump to 0.85%. The RBA’s move comes off the back of the fastest acceleration of inflation in over two decades, representing a...
4 simple ways to save for a home deposit
Given the median value of a home in Melbourne was over $800,000 in April, it’s no wonder that getting on the property ladder can seem tough. Your biggest challenge? Saving that all-important deposit – which can take years of scrimping and saving. But all is not lost. With a solid...
How to make the most of your home’s equity
It might not feel like it, but Australians have never been as wealthy. Household wealth skyrocketed by $590 billion over the September 2021 quarter to hit a record $13.9 trillion, according to the Australian Bureau of Statistics’ most recent figures. Wealth per capita rose to a record high of $540,000....
What is Rentvesting – and why should you consider it?
It’s disheartening if you’ve been priced out of the property market where you want to live. Even if you’re prepared to compromise on location, it can still be hard to buy your first home in Australia, thanks to soaring property prices. But don’t give up on your homeownership dreams just...