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Patricia Babalis

The beginning of the end? Drop in Sydney house price growth

As the saying goes, what goes up must come down, and for the first time since 2012 Sydney has experienced a record drop in the median house price, signalling an end to three and a half years of growth. Despite the first drop in the market since mid-2012, house prices in Sydney overall increased by 14.8 per cent in 2015 the Domain House Price Report has shown.

Home Loans

27 Jan, 2016

3 min read

The beginning of the end? Drop in Sydney house price growth

Patricia Babalis

Housing affordability decreases for owners and renters alike

Affording a house in Australia is only getting harder with the latest research from Moody’s Investors Service indicating a rise in the percentage of income going to mortgage repayments. Australian households are now spending an average of 29.3% of their monthly income on monthly repayments as of October 30th 2015, up from 28.2% last year.

Home Loans

13 Jan, 2016

3 min read

Housing affordability decreases for owners and renters alike

Patricia Babalis

House prices set to cool in 2016: Domain

It was a year of dramatic spikes in the property world, particularly the capital cities of Sydney and Melbourne, but as 2015 draws to a close, a new report promises a much more mellow 2016. Domain.com.au’s State of the Market report, released today, says that while property prices will continue to climb next year, it will be at a much slower rate of between two and five per cent, across the capital cities. Domain.com.au Senior Economist, Dr Andrew Wilson predicts that the markets of Sydney and Melbourne will start to fall in line with the other capital cities.

Home Loans

14 Dec, 2015

3 min read

House prices set to cool in 2016: Domain

Kate Cowling

Jobs growth puts the brakes on mortgage rate cuts in 2016

Unemployment reached a low 5.8 per cent in November according to the latest ABS figures for November, for the first time since May 2014, fuelled by a hefty rise in new jobs created of 71,400 which is the biggest monthly increase in decades. Some economists and commentators are now suggesting the RBA is more likely to leave the cash rate on hold in 2016, or up, as a result of the surprise jobs figures. Bank of America Merrill Lynch is one such organisation who is predicting the RBA could raise rates if the jobs boost continues, as reported in the Australian Financial Review.

Home Loans

11 Dec, 2015

3 min read

Jobs growth puts the brakes on mortgage rate cuts in 2016

Kate Cowling

RBA leaves cash rate on hold but fixed mortgages drop

The RBA left the cash rate on hold today at 2 per cent in what was one of the most predicted rate announcements in recent years. Today’s decision by the board means the cash rate has remained steady for the last seven months, with just two rate increases in 2015 in February and May. There are mixed views on whether rates will drop further in 2016. Shane Olliver, Chief Economist at AMP Capital believes there will be another interest rate cut.

Home Loans

01 Dec, 2015

3 min read

RBA leaves cash rate on hold but fixed mortgages drop

Kate Cowling

Glenn Stevens unlikely play Santa for mortgage holders today

The Reserve Bank is tipped to pass up the last opportunity to cut the cash rate in 2015, when the board meets this afternoon, leaving rates steady at 2 per cent for the seventh month in a row. This is despite many economists believing another rate cut is necessary in the near future to give the Australian economy another kick along.

Home Loans

30 Nov, 2015

2 min read

Glenn Stevens unlikely play Santa for mortgage holders today

Kate Cowling

Banking satisfaction still runs high despite some frostiness

The results are in and customer satisfaction in the big banks is down, according to new Roy Morgan survey released today.

Home Loans

17 Nov, 2015

2 min read

Banking satisfaction still runs high despite some frostiness

Jodie Humphries

Personal Finance Editor

Investors get cold feet as banks put the squeeze on interest

September ABS figures showed that the investment housing commitments fell by a whopping 8.5 percent (seasonally adjusted) or $1.24 billion, from the previous month. The drop in investor borrowing is largely, if not solely, but to the introduction of different interest rates for investors and owner-occupiers, a practice which has been taken up by half the market already.

Home Loans

10 Nov, 2015

3 min read

Investors get cold feet as banks put the squeeze on interest

Jodie Humphries

Personal Finance Editor

Reserve Bank unlikely to cut the cash rate _ just yet

A number of key economic indicators are pointing to a rate cut this month, but experts agree that the RBA is likely to take a 'wait and see' approach.

Home Loans

02 Nov, 2015

2 min read

Reserve Bank unlikely to cut the cash rate... just yet

Kate Cowling

Big 4 lift rates in a big day for home loan customers

ANZ and NAB today announced they were lifting their variable home loan rates, joining Westpac and CBA in what is now a bulk move by the big four banks to increase their mortgage rates.

Home Loans

23 Oct, 2015

3 min read

Big 4 banks lift rates in a big day for home loan customers

Patricia Babalis

Cash rate on hold in October but low rates prevail

The RBA has left the cash rate on hold at two per cent this month, but some home loan rates are continuing to drop as the spring mortgage market heats up.

Home Loans

06 Oct, 2015

3 min read

Cash rate on hold in October but low rates prevail

Kate Cowling

RBA cash rate set to remain on hold this October

Interest rates are set to remain on hold at two per cent when the Reserve Bank meets on Tuesday 6 October, according to RateCity’s monthly analysis of key economic indicators.

Home Loans

05 Oct, 2015

2 min read