Average house and flat prices in Australia continued to rise in the first quarter of 2009, bucking a global property slump that is causing misery in countries such as the US and Britain, a new report has found.
In the week that the Rudd government announced a package of measures to help Aussies keep up with home loan and credit card payments, it has emerged that predatory lenders are making a killing out of those most in need.
The debate over whether prime minister Kevin Rudd will extend the bonus on first-home buyers grant beyond June 30th heated up again on Friday (April 24th) with the revelation from government insiders that he will carry the bonus over.
Although speculation continues over whether the Reserve Bank’s spree of interest rate cuts has come to an end, consumers can make the most of previous cuts by maintaining their old home loan payment levels, one financial adviser claims.
With the housing bubble well and truly burst, Kevin Rudd’s efforts to reinflate it with the first-home buyers grant spell trouble for home loan providers and borrowers alike, the Sydney Morning Herald has warned.