Perfect storm: 35% spike in Aussies spending half their incomes on mortgages
New Mozo research reveals a 35% rise in the number of Australians spending half of their income on their home loans since 2023.
CommBank follows suit in Big Four home loan rate cuts
Commonwealth Bank has cut interest rates across its fixed and variable rate home loans for new customers by up to 0.70% p.a.
Westpac joins NAB in dropping fixed rate home loans
Westpac has cut select fixed rate home loans by 0.80% p.a., making it the second Big Four bank to pull back on its fixed interest rates in the past month.
More homes are for sale in Sydney and Melbourne, July data shows
Total property supply is at its highest level across the combined Australian capitals for the month of July, according to the latest data from Domain.
Rise in first-home ‘rentvestors’ as Aussies take alternate path to homeownership
More and more Australians are turning away from traditional pathways to homeownership in favour of ‘rentvesting’ – buying an investment property as their first home purchase, whilst continuing to rent.
NAB cuts 3-year home loans ending Big Four fixed-rate stalemate
Today, NAB cut its 3-year fixed rate home loan by 0.60%, marking the first time a Big Four bank has shifted fixed rates since the Reserve Bank of Australia (RBA) hiked the cash rate to 4.35% in November 2023.
3 states where there are more new homes to buy
The number of new homes to be built in Australia rose in May, though approvals were mostly for units, based on the latest data from the Australian Bureau of Statistics (ABS).
Winter’s home auction slowdown can offer a window for property buyers
There were 1,747 property auctions recorded across Australia last week, which represents the lowest count since the King's Birthday long weekend in mid-June, says Corelogic.
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Home loan borrowers sandwiched by rate rises and cost of living
The number of Australians falling behind on their home loans has reached its highest level since March 2021, according to CoreLogic.
House prices could ‘reshape the Australian dream’ by the end of 2025, says Domain
Home prices in Australia are forecast to continue rising over the next 12 months and lead to a ‘reshaping’ of how we see the Australian dream, Domain’s chief of research and economics, Dr Nicola Powell told Mozo.