Is there a certain stage as a renter that you say enough is enough and you decide that your next move is to purchase a home?
Recent research from RP Data shows that nationally over the past three years the average weekly rental rate for a house has jumped by a third.
As an example, three years ago the average Sydney house could be rented for $261 per week. Today, the average weekly rents have increased by 25 per cent.
We are now reaching ground that hasn't been trodden on for many years - interest rates declining in three months to the same level they were before six years of increases.
So will this be the end of it or, as many commentators are predicting, will they fall even further? Most are predicting another 100 basis points decrease by next February!
Continue reading "How much further will interest rates fall?" »
This sentiment is now being echoed by first home buyers across Australia in the wake of the increased First Home Owners Grant.
Although encouraged by the drop of the cash rate by 1 per cent in the past week and with the banks passing most of this on to consumers, it is still a hard road to hoe for many first home buyers.
The Federal Government may have increased the First Home Owners Grant to $14,000 (for all first home buyers) and to $21,000 for those buying a new home as their first home, but is this going to be enough?
Have you ever been caught up in the pressure and excitement of an auction - either in person or online - and paid far more than you should have for a house, rental property or other commodity?
New research from New York University shows the fear of failure and losing the social competition of a bidding war could be driving up prices at home and rental auctions.
Continue reading "Bidding war - fear of failure or joy of winning?" »
With a market a bit slow, every little bit counts when you are trying to sell your home.
Recently I spoke with a Melbourne investor who was selling her own home. I was amazed at the amount of trouble she went to when preparing her house for sale and for the opens.
Recent data released from Mortgage Choice shows a huge decrease in the number of fixed rate loans, indicating that Australian borrowers are shying away from this type of loan in record numbers.
The June figures show the demand for fixed rate loans in June fell almost to the historically low levels recorded more than three years ago - only 13 per cent. This is a huge drop from the high of 38 per cent recorded just six months ago in February.
Surging food, petrol and housing costs are pushing everyday living costs to levels many are finding disturbing, leading to many families re-evaluating their lifestyle choices.
The 12-year high of the cash rate does little to ease people's minds, especially when petrol, food and housing costs have pushed core inflation to 4.4 per cent in the first quarter.
Travel the world and take in some of the best real estate websites. Today REA Group launched its first global promotion, calling for aspiring globe-trotters to visit www.reagroupworldtour.com.
How better off are you and your family going to be with this week's budget initiatives? It has sparked a deluge of advice from industry groups, banks and the like all outlining how we can spend our 'windfall'.
I, on the other hand, may take my time to decide - considering for many families, the so-called 'windfall' may not really affect them in their day-to-day lives.
However, the advice heeded is wise and well worth considering.
Check out these insightful comments and the latest property news highlights of this momentous week.
Do you think the budget will help the average Australian family? How much of a difference will it make to your family?
Tell us what you think below.
