AirBnB is a growing trend in Australia’s major cities, but what is a lucrative business for some could be pricing long-term, private renters out of high demand markets, according to Mozo property expert, Steve Jovcevski.
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Twenty per cent more 25 - 34 year olds were shacked up at home on the night of the 2016 Census compared to five years ago, indicating that hipsters are fast becoming a generation that stay in the nest.
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Australia could be in for a series of no less than eight RBA rate hikes over the next two years, according to former Reserve Bank board member, John Edwards.
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The Commonwealth Bank has today joined Australia’s other three big banks in raising rates on interest-only loans, while simultaneously cutting rates for borrowers making principal and interest repayments.
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Three out of four big banks have raised rates on interest-only home loans this month, leaving the Commonwealth Bank as the only one yet to make a move.
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NAB has raised the standard variable interest rates attached to its interest only mortgages by 35 basis points, a move that will kick in for affected investors and owner occupier customers from June 30.
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Homeowners on the Sydney property ladder may soon see their properties become less valuable, after economists have tipped that median house prices will wind down over the next two years.
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Westpac has increased rates on interest-only mortgages by 0.34%, following changes from fellow big bank ANZ which hiked interest-only rates by up to 0.30% earlier this month, in what is becoming a growing trend among home loan lenders.
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Bankwest has announced a number of changes to its home loan interest rates - mainly rate increases across interest-only loans, but with some good news for borrowers making principal and interest repayments.
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Home loan loyalty is costing Australian mortgage holders a whopping $6 billion a year, according to new research from comparison site Mozo.com.au.
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