In the face of soaring property prices in Sydney, the majority of Sydneysiders are blaming foreign investors - but experts say housing affordability is a much more nuanced issue than that.
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Property developer Tim Gurner, who told 60 Minutes that Australian millennials need to stop buying $4 coffees and travelling if they want to buy homes, has now received considerable backlash on social media.
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Clearance rates in two of Australia’s biggest property markets, Sydney and Melbourne, were strong over the weekend, but are likely to trend downwards in the coming quarter, according to Mozo’s property expert, Steve Jovcevski.
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Online banking provider UBank has today unveiled the newest member of its customer service team - RoboChat, Australia’s first artificially intelligent virtual assistant for online home loan enquiries.
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Major bank customers could wind up paying an extra $40 a month on their home loans, if banks do as they’ve suggested and hike interest rates in order to cover the Budget’s big bank levy.
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Aussie borrowers have been hammered with interest rate increases lately, but now there’s another cost for them to keep their eye on - home loan fees.
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You may have heard the latest Federal Budget includes a tax incentive that will allow first home buyers to save up for their mortgage deposits faster, in a policy the government hopes will improve housing affordability.
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While all eyes are on the 2017 Budget announcement, NAB has once again raised interest rates on its interest-only fixed rate home loans.
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As expected, the big 4 have totalled a profit of $15.7 billion for the first half of the year. They’re also set to rack up $792 million in extra interest over the next six months thanks to the recent home loan variable rate rises.
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Westpac has raked in more than $4 billion from cash earnings over the last six months, a 3% increase for the major bank, who announced the results to shareholders today.
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