News

If you're looking for a cheap one-bedder apartment to invest in, the Real Estate Institute of Victoria has released figures to March of the suburbs in Melbourne where you can get one-bedroom apartments for under $300,000.

As banks start lifting rates to tighten their lending to property investors in response to the Australian Prudential Regulation Authority’s crackdown, Westpac has announced changes to its lending to foreign buyers.

Pressure to pass on higher capital costs to investment borrowers is likely to see more interest rate hikes by banks, following last week’s movements from ANZ and the Commonwealth Bank.

The ANZ Bank is lifting its interest rates for residential investment property to move focus away from investors and more onto owner-occupiers.

Melbourne’s median house and unit price has hit a new high in the June quarter.

House prices have grown 3.5 per cent over the June quarter to hit a new record median of $668,030.