First Home Buyers
Tuesday, September 7th, 2010
Just to set the record straight, I’m the first one to admit I love a latte and that I get mildly excited at the notion that I can have the odd business meeting in the comfort of my local café.
So with my confession out of the way I hope you’ll now forgive me for sounding like a party pooper – but in Australia’s rush to culturally embrace a cosmopolitan café society, we’ve ignored the fact that the Europeans who were responsible for much of this influence, can more readily afford their style of entertaining, simply because they don’t share our philosophy and love affair with property ownership.
And therein lays a stumbling block for some. (more…)
Posted in Home Loan Tips | September 7th, 2010 1 Comment » Tags: affordability, Budget, First Home Buyers
Friday, August 27th, 2010
How times have changed.
Gone are the days when families had takeaway once a week (which usually consisted of fish and chips on Friday night) or when the biggest family night out was heading down to the local Chinese restaurant.
The fact is, it’s a tell-tale sign that things have changed when you can watch a 5 year-old eat sushi with chopsticks better than you can!
In short, there’s been a generational change in how we go about our social lives – and for some borrowers and aspiring home buyers, they simply can’t afford it because some of these social habits are holding them financially captive. (more…)
Posted in Uncategorized | August 27th, 2010 1 Comment » Tags: affordability, Budget, First Home Buyers, Saving, Spending
Tuesday, July 20th, 2010
With so many young people eager to get into the property market but struggling to save enough for a decent deposit, there’s much to be said about staying at home for longer and being Packed to the Rafters as a way of eventually reaching their goal. (more…)
Posted in Uncategorized | July 20th, 2010 No Comments » Tags: affordability, Budget, First Home Buyers, First Home Savers Account
Friday, June 4th, 2010
The property market has remained strong for the past 12 months, but now amid concerns of rising interest rates and threats of a global economic slowdown – property buyers are holding back.
While auctions account for less than a quarter of all dwelling transactions nationally, Cameron Kusher, senior research analyst at Rpdata.com says, “auction clearance rates provide an excellent indication of current market sentiment; the results are more timely than private treaty results which are subject to time lags.” (more…)
Posted in Buying to Invest, First Time Buyers, Interest Rates, Moving House | June 4th, 2010 No Comments » Tags: affordability, Budget, First Home Buyers, Home Loan, Home Loans, Move House, Property, Property Market, Upgrade
Friday, May 28th, 2010
“If you don’t get in now, you never will”. It’s a phrase being repeated a lot these days, especially amongst first home buyers. But the reality is housing affordability is going down with rising house prices. This isn’t helped with all the panic buying that’s going on.
How are first home buyers meant to break into the market when the walls are too high to climb? Is the first home savers account enough of a push to encourage a solid savings base and reduce the affordability gap?
There has also been pressure placed on banks to recognize rent as a form of ‘genuine’ savings. If borrowers could use rental repayments as evidence of genuine savings then more first home buyers would be able to enter the property market.
Currently no lender recognises rent repayments as a component of genuine savings.
Are interest rates the worst enemy for first home buyers or is it the deposit for a first home?
We want to hear your thoughts.
Posted in First Time Buyers, Interest Rates | May 28th, 2010 2 Comments » Tags: affordability, Budget, First Home Buyers, First Home Savers Account, Home Loan, Home Loans, Interest Rates, Mortgage, Property Market
Tuesday, May 18th, 2010
Concerns from first home buyers about the First Home Saver Account scheme have been answered in the recent release of 2010 budget. Treasurer Wayne Swan has announced an introduction of greater flexibility in the scheme which has been the primary reason for first home buyers not investing their time and money into the account. (more…)
Posted in First Time Buyers | May 18th, 2010 No Comments » Tags: affordability, Budget, First Home Buyers, First Home Savers Account, Home Loan, Home Loans, Mortgage, Property, Variable loan, variable rate
Wednesday, May 12th, 2010
Federal Budget’s tax cuts which come into effect on July 1 offer no real concession for mortgage holders coping with six official rate rises.
Borrowers feeling the pinch from rate rises this financial year will not be able to offset any real amount off their increased mortgage repayments with the tax cuts – and will still have to seek out additional ways to restructure their household budget. (more…)
Posted in First Time Buyers, Home Loan Tips, Property and Tax | May 12th, 2010 No Comments » Tags: affordability, Budget, Federal budget, First Home Buyers, First Home Savers Account, tax cuts
Tuesday, May 4th, 2010
The rising rate environment is leaving some heavily mortgaged borrowers – particularly those with more than an average $300,000 loan – scrambling to find ways to fund the significant increases in monthly repayments that have occurred since October last year.
With the announcement of a sixth rate rise by the Reserve Bank, these borrowers will be forced to look outside the square for ways to fund the increase in their mortgage repayments and will have to assess all aspects of their lifestyle and spending habits. (more…)
Posted in Buying to Invest, First Time Buyers, Interest Rates, Refinancing | May 4th, 2010 4 Comments » Tags: affordability, Comparison rate, Equity, First Home Buyers, Home Loan, Home Loans, rate rise, Refinance, Variable loan, variable rate
Monday, May 3rd, 2010
It seems that investors are not the only ones interested in capitalising on the current market opportunities. QBE LMI’s Chief executive officer Ian Graham believes that upgraders will also be contributing to property market movements in 2011.
Mr Graham believes the coming year will see upgraders stepping up to fill the demand gap created by the decline in first home buyer activity since the federal government’s boosted first home buyer stimulus was withdrawn. (more…)
Posted in Buying to Invest, First Time Buyers, Moving House | May 3rd, 2010 No Comments » Tags: affordability, Budget, First Home Buyers, Home Loan, Home Loans, Invest, Move House, Upgrade
Wednesday, April 28th, 2010
Read the full article here, http://bit.ly/cHTuuj
Have a read through and cast your vote on the blog poll or comment your thoughts below – we want to know: Would you rent as a lifestyle choice or would you prefer to live in a home that you own?
Posted in Buying to Invest, First Time Buyers, Moving House | April 28th, 2010 No Comments » Tags: affordability, First Home Buyers, Home Loan, Home Loans, Invest, Move House, Property, Rent
