The number of Australians making renovations to their homes during the June quarter grew by 2.2 per cent according to the Housing Industry Association, while new dwelling construction declined.
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The weather is warming up now that spring has arrived, and so is competition in the home loan market!
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Recent Mozo research has revealed that first home-buyers are increasingly turning to the Bank of Mum and Dad to secure funding for their property purchase, making Aussie parents the fifth biggest lender in the country, behind the big four banks.
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Mozo research has found that the “Bank of Mum and Dad” is now the fifth biggest lender in Australia, as young home-buyers turn to their parents for help getting into a red hot property market.
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A host of lenders have cut the headline home loan rates of fixed and variable loans for owner occupiers ahead of what is expected to be a busy spring property season, according to Mozo’s Banking Roundup for August.
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If you’re thinking about picking up an interest-only home loan with the bank or applying with a less than 20% deposit, you may have to jump through a couple of hoops first.
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Fierce lender competition for prime home loan customers is delivering a rate cut bonanza for owner-occupier borrowers this spring.
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Satisfaction levels among Commonwealth Bank, Westpac, ANZ and NAB home loan customers has fallen to 76.1%, according to the Roy Morgan’s banking consumer satisfaction survey for July.
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Auction clearance rates took a dive in Sydney last weekend after remaining unseasonably high throughout the majority of winter.
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Professional opinions are divided over the future of Melbourne’s highly sought-after apartment market after a number of economists offered up their growth predictions for the next 12 months.
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