Month: November 2017

construction boom

What does the construction boom mean for you?

Building and construction is a growing industry. In fact, it has just topped the list for full-time employment in Victoria, providing 20,000 new jobs in the sector in the last year. Why the boom? There’s been a lot of government focus on developing more metropolitan dwellings to address the current housing affordability situation. Development is […]

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apra restrictions

Loan restrictions in place until household debt stabilises

Earlier this year, the Australian Prudential Regulation Authority (APRA) placed restrictions on investor lending and interest-only loans to address housing affordability, and potential mortgage stress. At the time, interest-only loans accounted for almost 40 per cent of lending. APRA Chairman Wayne Byres recently told building societies and credit unions that restrictions will remain in place […]

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renting with pets

Should you rent to people with pets?

Whether to enforce a blanket ‘no pets’ policy or consider allowing tenants to keep animals is a conundrum for many Australian landlords. It’s a topic that recently made its way onto the government agenda in one Australian state. Victorian premier Daniel Andrews hit the headlines in October when he mooted the ban of unreasonable ‘no […]

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Using a guarantor? Here’s what you need to know

Saving for your first home is a big hurdle. With a willing and eligible guarantor, your dream property may be more attainable than you think. But there are risks for the guarantor, so consider the following before heading down this path. A guarantor is usually a close family member who guarantees the security of your […]

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5 tips for managing mortgage stress

The term mortgage stress has been bandied around in the news recently. With Reserve Bank of Australia (RBA) cash rate at a record low of 1.5 per cent, house prices continuing to rise and incomes remaining flat, economists are concerned that when rates do increase, many Australians will experience mortgage stress. There are many definitions […]

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Debt consolidation

Having multiple loans can creep up on you. Let’s say you took out a personal loan for a holiday you couldn’t quite afford outright when you were younger. Perhaps a year or two later you took out a car loan because the weekly repayments sounded far easier than a $40,000 lump sum. Several years after […]

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What are the costs of buying a new home?

So, you are ready to purchase your first home. You’ve got pre-approval for your mortgage, and you feel confident your income will stretch to cover the repayments. But are you aware of all the other costs involved in buying a home? Here, we break down the fees for you, so you don’t encounter any surprises […]

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rent increasing

How far can rents actually rise?

We recently received another thought provoking blog post from .id the population experts. The topic was based on “rent & mortgage” data that has just been released from the 2016 Census. As you can see below, median weekly rents have been on the rise since the 2011 Census. Whilst these rent increases have been substantial, […]

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