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.
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The Reserve Bank of Australia (RBA) has today held the official cash rate at 4.35% after the Consumer Price Index (CPI) recorded a slight drop in trimmed mean inflation over the June quarter of 2024.
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There may be no 2020 RBA cut just yet, but one Aussie online lender isn’t wasting any time. Well Home Loans has swept its competitors aside with two surprise rate slashes that now make its fixed and variable home loans some of the best in the market.
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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.
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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).
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Newcastle Permanent has cut the interest rate on select variable rate home loans by up to 0.10% p.a., with its Real Deal Home Loan (LVR <80%) dropping to 6.09% p.a. (6.13% p.a. comparison rate*).
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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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The number of Australians falling behind on their home loans has reached its highest level since March 2021, according to CoreLogic.
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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.
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I recently did a cost vs. savings check, which hit harder than an opening State Of Origin tackle!
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