Why buying a home is like musical chairs: Let's look at the numbers

Last updated Wednesday, 16 June 2021

Being at an auction in many capitals right now can feel like a poorly run game of musical chairs. Most players will leave empty-handed and quite possibly bruised.This is what happens when people want and need homes, but for whatever reason, the rules of the game favour just a few at the party.Some numbers can help explain how this all works, not least of which are figures showing us what's available.For example, residential property listings around the country dropped in May of this year by 6% to 245,953, down from 262,617 in April, according to SQM Research. That's more than 15,000 fewer properties available to buyers, at a time when there are clearly many people who want a seat in the game.And in a city like Sydney, which garners most of the property headlines, there was a notable drop this May in the number of homes advertised for at least 180 days (4,248), compared to May of 2020 (6,589). SQM says this represents a 36% fall.Are there any new ads for homes going up then?

Meet the lenders taking on the big banks in 2021

Wednesday, 16 June 2021

In case you missed the news, home loan rates have gone off a cliff in the past two years in the wake of six Reserve Bank interest rate cuts, including one last November. And now that the dust has settled, Aussie homeowners have a real opportunity in 2021 to take advantage of some of the lowest rates on record.Borrowers looking for the sharpest rates will need to look beyond the big banks though. Rival lenders have taken the spotlight: not only dishing up super low variable and fixed rates, but also new features and extra incentives.It’s little wonder that rival lenders are seeing a spike in customers switching their home loans from the major banks, with some genuinely big savings now available for those who are prepared to shop around.So, if you're sick of paying more than you need to on your home loan, you’ll want to get acquainted with these killer lenders taking on the big banks in 2021.

$25k first home buyer grants tabled as part of NSW stamp duty reform

Last updated Tuesday, 15 June 2021

First home buyers would be able to access grants of up to $25,000 from the state government to assist them with property purchases under a new initiative outlined by New South Wales Treasury.

Rock bottom fixed home loan rates: Time to fix?

Monday, 14 June 2021

Aussies looking to save money on their home loan are in for some good news this month. While the big banks have begun to increase some of their fixed rates, the nation's challenger lenders are tempting bargain hunting borrowers with a bunch of jaw-dropping fixed rate home offers.

Property investors urged to turn to Western Sydney for bigger returns

Friday, 11 June 2021

The past year has seen regional home values grow twice as fast as capital cities, as more and more Australians sought for a sea or tree change, according to CoreLogic. But new figures suggest there may be affordable pockets of Sydney that are even more promising for property investors. According to property developer ALAND, the Greater Western Sydney market could be very profitable for investors, with rental gross yields potentially as high as 4.7% at its Schofield Gardens development in Schofields. For context, rental gross yield refers to your annual rent income divided by the purchase price, so it’s a way to figure out how likely the property will generate a positive cashflow. ALAND said investor returns were lower in popular regional hotspots such as Wollongong, Newcastle and Central Coast. Here are their estimates of rental gross yields in these areas, drawing on data from My Housing Market:

June home loan snapshot: Bendigo, Citi and Macquarie lower variable rates

Last updated Tuesday, 1 June 2021

Winter’s finally here and so too are the colder days and longer nights. For many of us that means taking life at a slower pace and indulging in the pleasures of food and warmth that come indoors.

ING moves on fixed home loan rates

Last updated Tuesday, 25 May 2021

One of Australia’s largest home loan lenders, ING, has announced that it will be making a number of changes to its fixed rate home loans, including the introduction of tiered pricing for different loan-to-value ratios (LVRs).

Why everyone in their 20s doesn’t need to own a home right now

Wednesday, 19 May 2021

FOMO in the property market can be very real. Whether housing is seeing a price boom or bust, first home buyers may feel the urge to ‘get in’ before prices skyrocket, which could see them sacrificing value or must-haves on a property checklist.

Guide to low deposit home loans: where do rates sit and what are the risks?

Friday, 14 May 2021

It’s no secret skyrocketing property prices over the past few months have made it harder for first home buyers to save for a deposit - and record low rates of wages growth aren’t helping either.

Athena just dropped a variable home loan rate below 2%

Thursday, 13 May 2021

Online lender Athena has fired up the mortgage wars of 2021, cutting its variable home loan rates to new record lows. The mortgage challenger says its new Celebrate Home Loan 1.99% comparison rate* for borrowers with 40% deposit or equity is now the lowest fee-free variable home loan rate in the country.

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