High property prices and tight lending restrictions have seen an increasing number of young people approach the ‘Bank of Mum and Dad’ for their home loan.
X-factors have played a large part in today’s decision from the Reserve Bank to keep interest rates on hold at 0.75 per cent.
After solid unemployment figures recently, surprise rises in inflation has snuffed out the likelihood of a Reserve Bank rate cut next week.
Home loan customers are continuing to explore non-major options with the big four banks’ market share hitting a record-low.
The RBA will be happy with new job market figures showing unemployment falling to its lowest level in nine months.
Major bank economists are expecting the RBA to cut interest rates to a new record-low of 1.5 per cent in February but there’s plenty of industry opposition to it.
Weakening business conditions and a flood of extra office space hitting the Melbourne CBD has put the brakes on our city’s office rental growth.
Any bank customer that relies on tourism or farming in the bushfire-affected areas will be under some substantial pressure and it could lead to lower property prices and more defaults.
ASIC chairman James Shipton says auditors and superannuation trustees will be under more scrutiny and will face more enforcement action this year.
It was a strong finish to 2019 regarding the property market, does 2020 hold more of the same?
