Tag: Australian Home Loan Market

Australian Interest Rates: How High and for How Long?

February 9, 2023
AustraliaAustralian Cash rateAustralian economyAustralian Home Loan MarketBusiness & Marketseconomyinflationinterest rateInternationalOpinionphilip loweRBAViewpointsWorld
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Commentary Home buyers and businesses are suffering sticker shock as the Reserve Bank of Australia (RBA) lifted the official cash rate from 0.1 percent to 3.35 percent in the course of the nine months since April 2022. But they should probably be thinking of rates of this level as the “new normal.” Assuming lenders pass…

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Australian Interest Rates: How High, How Long?

February 9, 2023
AustraliaAustralian Cash rateAustralian economyAustralian Home Loan MarketBusiness & Marketseconomyinflationinterest rateInternationalOpinionphilip loweRBAViewpointsWorld
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Commentary Home buyers and businesses are suffering sticker shock as the Reserve Bank of Australia (RBA) lifted the official cash rate from 0.1 percent to 3.35 percent in the course of the nine months since April 2022. But they should probably be thinking of rates of this level as the “new normal.” Assuming lenders pass…

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New Loans Pick up as Australian House Prices Continue to Grow

February 1, 2022
AbsAustraliaAustralian Home Loan Marketaustralian property marketAustralian Prudential Regulation AuthorityCoreLogicGlobal Real Estatereal estateWorld
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New Australian housing mortgage commitments rose 4.4 percent in December to a record high value of $32.8 billion (US$23.3 billion) as house prices in the country continue to climb. The Australian Bureau of Statistics (ABS) revealed that it was driven by a 5.3 percent increase in the value of new owner-occupier loans. The average loan…

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Australian Property Values Ended the Year 22 Percent Higher but Subdued Conditions Expected in 2022

January 6, 2022
AustraliaAustralian Home Loan Marketaustralian property marketaustralian rental marketCoreLogicWorld
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The Australian property market grew 22.1 percent during 2021 on the back of low interest rates but ended the year on a subdued note CoreLogic revealed, with the national median house value in December only rising one percent,  down from 1.3 percent in November. It reflects the cooling market as the monthly growth rate had continued…

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Australian House Prices to Fall 10 Percent in 2023 After Interest Rate Rise: Commonwealth Bank

November 21, 2021
AustraliaAustralian economyAustralian Home Loan Marketaustralian housing marketAustralian Prudential Regulation Authoritycommonwealth bankReserve Bank of AustraliaWorld
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The Commonwealth Bank of Australia (CBA) expects house prices to fall by around 10 percent in 2023 after the official interest rate lifts. Gareth Aird, the head of Australian economics at CBA said a further tightening of macro-prudential policy looks unlikely, and the housing market will see moderate growth over the first half of 2022….

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It’s Cheaper to Buy Than to Rent for Over a Third of Australian Properties

July 16, 2021
AustraliaAustralian Home Loan MarketAustralian Housing Lendingaustralian housing marketCoreLogicmortgage loanWorld
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Buying is now cheaper than renting in over one-third of Australian properties, aided by eight months of record low-interest rates, property researcher CoreLogic found. The company’s analysis showed that it is cheaper to repay home loans than to rent for 36.3 percent of Australians properties, up from the 33.9 percent reported in Feb. 2020. CoreLogic…

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New Home Loans Reach Record $31bn on the Back of Owner-Occupier Loans

June 4, 2021
APRAAustraliaAustralian Bureau of StatisticsAustralian economyAustralian Home Loan Markethome loansReserve Bank of AustraliaWorld
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Home loan commitments have risen to another new high in April, and financial regulators are pleased that it has not led to easing lending standards. New figures from the Australian Bureau of Statistics show that new housing loans have risen 3.7 percent to a record high of $31 billion (US$23.8 billion), driven by owner-occupier loans….

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Single Parents to Be Able to Buy Homes With Two Percent Deposit

May 10, 2021
Asia & PacificAustraliaAustralian Home Loan MarketAustralian Housing Lendingaustralian housing markethome ownershipWorld
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The Treasury has announced additional home loan assistant measures to help more Australians become homeowners as part of the 2021-22 budget. Single parents with dependent children will be able to purchase a home with a deposit of two percent. It will be under the Family Home Guarantee, which the government will establish to provide 10,000…

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