Australian rental rates surge in Q1 2023 A recent report from CoreLogic shows a sharp rise in Australian rental prices for the first quarter of 2023. The Quarterly Rental Review has identified an overall increase of 2.5% in the rental market, compared to the 2% growth in the previous quarter. The increase...
How to get a home loan when you’re a business owner
If you’re not an employee, it may be more difficult to get a home loan. Home loan lenders may think there’s more risk involved because your income may be unpredictable or irregular. Also, it may be harder for them to verify your employment. Consequently, some mortgage lenders will demand a...
WIN your mortgage paid for a MONTH!
Living expenses and mortgage repayments starting to bite? We've got you covered. Imagine not having to pay your mortgage for a month! For the month of March, you could win your monthly mortgage repayment paid by NMC Finance (up to $5,000*). Simply enter in any of the following ways: Refer...
When will interest rates go down?
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...
What first home buyers need to know about lender’s mortgage insurance
Australian property prices might be falling, but getting on the property ladder can still be challenging. The biggest hurdle? Saving a 20% deposit – which can take years of scrimping, particularly if you’re paying rent simultaneously. However, if you are prepared to pay lender’s mortgage insurance (LMI), you might be...
What does the federal budget mean for Australian real estate?
Treasurer Jim Chalmers has delivered Labor's first federal budget in almost a decade, in which he emphasised the government was making “hard decisions for hard times.” But despite this, there was one eye-catching announcement for Australia’s real estate industry: a new National Housing Accord, which sets an ‘aspirational’ target of...
Now might be first home buyers’ best chance to break into the market
It’s not been called the great Australian dream for nothing. But in recent years, buying your first home has become increasingly harder. The biggest challenge? Saving a deposit – with the most recent ANZ CoreLogic Housing Affordability Report finding it takes, on average, more than 11 years for a first...
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...
Applications open for Regional First Home Buyer Guarantee
Here’s some great news for regional Australians who want to get on the property ladder: 10,000 new places are now available under the federal government’s Regional First Home Buyer Guarantee. The scheme began on 1 October 2022, three months ahead of schedule. With many young Australians making the move to...
Should you buy in a falling market?
Spring is in the air. Alongside the warmer weather comes what is traditionally the busiest season of the year for Australia’s property markets, with listings numbers and buyer activity usually significantly higher than during the winter months. This spring season will be very different from the previous two years, with...