The federal government is aiming to improve housing affordability by increasing the supply of housing, which would be expected to reduce demand and put downward pressure on prices. As a result, the government is attempting to facilitate the building of 1.2 million homes in the five years from July 2024. So what does the latest homebuilding approvals data show?
There’s a lot more to a home loan than just the interest rate. The features of the loan can also have a big impact on your total mortgage costs and repayment flexibility, which is why it’s important to understand the potential benefits of a redraw facility and an offset account.
More and more Australians are turning to property investment, new analysis has revealed. CoreLogic’s head of research, Eliza Owen, found that the number of investors entering the market was exceeding the number exiting, by comparing home loans data with listings data.
Recent developments in the Australian mortgage landscape bring promising news for essential workers aiming to invest in property. Major lenders are now extending Lenders Mortgage Insurance (LMI) waivers to a broader range of professions, potentially saving eligible borrowers thousands of dollars.
Are you considering renovating? If so, you’re not the only one, because renovations are incredibly popular, with homeowners investing $2.84 billion on alterations and additions in the June 2024 quarter, according to the Australian Bureau of Statistics. Typical costs range from about $2,000 to $5,000 for bedrooms, $15,000 to $30,000 for bathrooms and $25,000 to $50,000 for kitchens, according to JDL Constructions.
Many Aussie expats use their time overseas to accelerate financially. Here’s how Australians living abroad are buying property back home and building long-term assets. Moving offers higher earning potential, global career experience, and the ability to accelerate financially in ways you can't back in Australia. Expats also recognise something else- the overseas window is powerful, but it isn’t permanent. This naturally raises the question: "How do I make the most of that time whilst I am here?"
If you’re an Australian expat navigating life abroad, the last thing you need is uncertainty around your finances back home. Whether you’re living in Singapore, Hong Kong, Dubai, or beyond, staying on top of your Australian mortgage from overseas isn’t always straightforward - especially during times of personal or financial stress.
In a lending market that’s moving in different directions at once, it's easy to assume that lower rates elsewhere mean it’s time to refinance. But for many expats, the smarter move might not be switching lenders — it’s simply getting clear on where you stand.
Several experts anticipate the Reserve Bank will begin lowering interest rates in the fourth quarter of 2024. So, if you want to enter the market, should you buy now or wait for mortgage rates to go down?
If you would value a considered review of your position, we’re happy to talk.