The typical four-week sales campaign for property is becoming too short because loans are taking so long to approve amid the tightened lending environment.
Sydney property prices have copped a pumping in 2018, falling 9.5 per cent since their peak in the middle of last year.
Australia’s record run of low interest rates has continued on for another month with the RBA once again leaving the official cash rate at 1.5 per cent.
There’s a huge number of interest-only mortgages in Australia – around $120 billion worth – that will soon transfer over to principal-and-interest according to the Reserve Bank.
The Reserve Bank says it’s more than just tighter lending – there’s four main drivers pushing down our house prices.
Melbourne’s property market is on the slide but affordable housing providers Ingenia Communities and Lifestyle Communities are bucking the trend – and all in outer ring suburbs while they’re at it, as they sell homes to downsizing retirees.
So how do you put the odds in your favour when trying to get your home loan approved?
The Bank of Melbourne is launching an aggressive push to turn around sluggish demand for home loans from new customers.
The Federal Treasurer wants banks to take the foot off their lending clampdown for the benefit of the general public
The demand for student accomodation and co-living rentals is rising around the world and forecasters say Australia is set to join the trend.
