Australians are cashed up after saving their pennies during lockdown and will be ready to buy property in 2021, no doubt sending house prices skyward.
House prices nationally in Australia rose for the second consecutive month in November.
Treasurer Tim Pallas says stamp duty will be halved for new homes and cut by 25 per cent for existing homes as of now through to June 2021.
Former Reserve Bank governor Bernie Fraser is leading a new push to look at letting low-income earners and first homebuyers dip into their super to buy a home.
The Federal Government wants to axe new responsible lending laws amid the COVID economic downturn but it might have a tough time getting it through the Senate.
New South Wales has announced plans to phase out stamp duty and it’s getting support from both sides of politics, as well as the Reserve Bank governor.
The Australian economy is showing good bounce as it starts to move out of its COVID-affected recession.
The federal government is looking at extending best interest duty to all credit assistance providers, not just mortgage brokers.
Smaller lenders have been quick to immediately pass on the RBA’s interest rate cut to customers but the big four weren’t so trigger-happy.
The Reserve Bank has gone all-in on propping up the economy by cutting the official cash rate to 0.1 per cent – the lowest it has ever been in Australia.
