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Money talks: Banks offering cash to entice customers

SuperUser — Wed, 05 Mar 2014 07:26:00 GMT

Banks are increasingly offering borrowers cold hard cash in an attempt to sign them up as mortgage customers.

As lenders jostle to expand their share of the home loan market, all big four banks are now trying to lure new customers with types of cash rebates, and one non-bank lender is even offering fuel vouchers.

Locals priced out by $24b Chinese property splurge

SuperUser — Wed, 05 Mar 2014 06:48:00 GMT

‘‘A generation of Australians are being priced out of the property market. Many face a life time of renting,’’ Credit Suisse analysts Hasan Tevfik and Damien Boey said.

Wealthy Chinese buyers have purchased $24 billion of Australia housing in the past seven years, and over the next seven years an additional $44 billion will be spent on residential property.

Investors strong in NSW, but not elsewhere

SuperUser — Thu, 09 May 2013 01:21:00 GMT

This week's surprise decision by the Reserve Bank to cut interest rates will fuel investor interest in residential property.

Australians are passionate about investing in bricks and mortar and the combination of lower mortgage rates, rising property prices will be irresistible for many.

Big banks in little hurry to pass on rate cut

SuperUser — Wed, 03 Oct 2012 03:35:00 GMT

The big four banks will pass along most of the Reserve Bank's rate cut to mortgage holders, analysts believe - but the wait may drag on until next week.

The major banks took an average of 10.6 days to pass along rate cuts following RBA reductions beginning in November 2011, according to calculations from Fairfax.

Public housing high-rises keep prices down

SuperUser — Wed, 03 Oct 2012 02:29:00 GMT

The inner-city set may claim there is no stigma attached to living near public housing but property prices expose a more tawdry truth.

The closer you live to public housing estates such as Richmond's towering commission flats, the lower property values become. Data supports what is often an unspoken assumption among home buyers - namely, that properties farther from public housing estates generally sell for more than those close to them.

Sydney house prices on the rise, data shows

SuperUser — Fri, 03 Aug 2012 02:23:00 GMT

Sydney homeowners preparing for spring sales campaigns have been given some encouraging news with three sets of data now showing price growth.

Independent analysts RP Data-Rismark today released its July results, which showed Sydney dwelling prices were up 1.2 per cent over the month. House prices went up 1.4 per cent while apartment prices were flat.

Brisbane booming in the middle and round the edges

SuperUser — Fri, 03 Aug 2012 02:03:00 GMT

Brisbane is the place to be, but people aren't living where you may think, new population figures from the Australian Bureau of Statistics reveal.

The data, which captures a decade of change to 2011, reveals the Greater Brisbane Region, which excludes the Gold and Sunshine coasts, increased by 25 per cent (432,300 people) and was just behind Greater Perth (26 per cent) as the second-fastest growing capital city in Australia.

Auctions indicate it's still a buyers' environment

SuperUser — Tue, 13 Mar 2012 01:48:00 GMT

With more than a month behind us since the auction season opened up again, it is worth taking a snapshot of the market by looking at how the auction clearance rates have been performing, plus considering the supply of listings.

ACT named as hot investment spot

SuperUser — Tue, 13 Mar 2012 01:39:00 GMT

Two ACT suburbs have been named in the top investment areas across NSW and the territory by McGrath Estate Agents.

In his autumn market review, McGrath real estate chief executive John McGrath listed Dickson and Kambah amongst the best buy suburbs outside Sydney for future growth.

Housing market steady despite the dark clouds

SuperUser — Tue, 06 Mar 2012 02:17:00 GMT

The weekend's damp weather made for some challenging auctions held among crowds of umbrellas and pouring rain but another clearance rate above the 60 per cent mark delivered relief to agents and buyer advocates.

Best streets: Balwyn North

SuperUser — Tue, 06 Mar 2012 01:52:00 GMT

Part of the Riverside Estate bordered by Doncaster, Bulleen and Burke Roads, Walbundry Avenue is just one of several leafy streets blessed with an abundance of original between-the-wars houses. The Riverside Estate has a quiet, restrained elegance that, although only a 10-minute (off-peak) freeway drive from inner-city Melbourne, feels a world away.

Material wealth

SuperUser — Sat, 03 Mar 2012 01:10:00 GMT

Is a house made out of brick worth more than a weatherboard house? That depends on where it is.

As the three little pigs found out, building a house with brick has its advantages.

They are long-lasting (able to withstand plenty of huff and puff), well insulated, easy to build on and good-looking. For these reasons, agents say, brick is the material of choice for many Sydney house buyers.

Researcher: bigger homes are a waste of space

SuperUser — Sat, 03 Mar 2012 00:50:00 GMT

The Perth's love of big houses was bad for the environment according to Masters of Environmental Design researcher Dirima Cuthbert from the University of Western Australia.

Ms Cuthbert said many Perth houses were not energy efficient and building regulations did not encourage home builders to change their ways.

Fewer suburbs looking like a million dollars

SuperUser — Sat, 03 Mar 2012 00:37:00 GMT

Sydney had 92 suburbs with a median house price of more than $1 million for the last six months of 2011. This compares with 17 in Melbourne, 14 in Perth, two in Brisbane, four in Adelaide and one in Canberra.

Banks may raise rates despite RBA hold

SuperUser — Thu, 09 Feb 2012 22:20:00 GMT

Denied an interest rate cut, mortgage holders may soon be hit by a rate rise as the ANZ Bank prepares to announce an interest rate move independent of the Reserve Bank.

5800 more people, still no facilities

SuperUser — Thu, 09 Feb 2012 22:09:00 GMT

Traffic gridlock, crowded schools and poor infrastructure are causing a backlash against government plans to speed up land releases in Melbourne's fastest growing suburbs.

Developer plans $20m Toorak pad

SuperUser — Thu, 09 Feb 2012 21:30:00 GMT

BUILDING will start this month in Melbourne's blue-chip suburb of Toorak on one of the state's largest and most expensive new homes.

Borrowers now have the edge

SuperUser — Sun, 05 Feb 2012 01:42:00 GMT

Australia is entering a new low-interest-rate environment and smart borrowers should seize the opportunity to sift through the competitive loans on offer.

The Reserve Bank's decision in December to cut the cash rate by 25 basis points for the second month in a row is positive news for buyers and borrowers.

Housing recovery driven by first home buyers

SuperUser — Fri, 20 Jan 2012 08:51:00 GMT

After two years of abstinence, home-buyers have been seen taking a sip from the debt bottle. Just a little one. First home buyers accounted for 20 per cent of total housing finance commitments taken out in November last year, data released by the Australian Bureau of Statistics on Monday showed.

Banks face home loan suit

SuperUser — Fri, 20 Jan 2012 08:32:00 GMT

AUSTRALIA'S banks could be facing a massive new class action over allegations that their mortgage lending practices have put thousands of families in severe financial stress or at risk of losing their homes.

Organisers estimate that up to 300,000 mortgage holders would be eligible to participate in the action, which is expected to focus on first home buyers and lower-income households who received loans since the onset of the global financial crisis.

Opposition: Come clean on Phillip Island zoning

SuperUser — Fri, 20 Jan 2012 08:10:00 GMT

Premier Ted Baillieu must explain his role in the dispute at Phillip Island involving his planning minister Matthew Guy, the opposition says.

Mr Guy is being sued over claims he failed to follow proper planning processes and succumbed to backroom pressure from Liberal heavyweights when he backflipped over a contentious rezoning of Phillip Island farmland last year.

Time to fight the financial system and set your own standard

SuperUser — Sat, 07 Jan 2012 19:17:00 GMT

It's certainly not what you should be paying. So yesterday all four of the big banks finally passed on the quarter of a per cent Reserve Bank rate cut. Big deal - or not such a big deal, as the case may be.

Capital city home values up for the 1st time in 2011

SuperUser — Thu, 05 Jan 2012 19:42:00 GMT

Homeowners have received a bout of good news at year's end, with a private survey showing the first rise in capital city home values in eleven months.

Capital city home values lifted 0.1 per cent in November - the first increase since December 2010, according to the RP Data-Rismark Home Value Index on Friday.

The heart is where the home is

SuperUser — Thu, 05 Jan 2012 19:30:00 GMT

A SMALL pocket of 1950s real estate on a sharp bend of the Maribyrnong River is the state's most tightly held suburb.

Home owners in Essendon West stay in the ubiquitous weatherboard Californian bungalows that line the suburb's leafy streets on average nearly 19 years, according to property research group RP Data.

Battlefield looms on coastal playground

SuperUser — Thu, 05 Jan 2012 19:23:00 GMT

A NEW suburban frontier is set to engulf once-sleepy holiday towns on the Bellarine coast.

In rezoned farm paddocks on the road to Torquay, a transformation is under way that began late in 2008 when the first section of Geelong's ring road was unveiled.

Owners find homes are cracking under pressure

SuperUser — Wed, 28 Dec 2011 05:25:00 GMT

HEAVY rainfall after a decade of drought is thought to have caused cracking in the walls of hundreds of new homes in Melbourne's west, sparking calls for an overhaul of building standards from within the housing industry.

Home buyers priced out

SuperUser — Sat, 10 Dec 2011 23:51:00 GMT

DESPITE one of the worst property slumps in two decades, many first-home buyers are finding it harder than ever to enter the market, with research showing they need at least $100,000 after tax to buy in half of Melbourne's suburbs.

Victoria's dysfunctional building permit system

SuperUser — Sat, 10 Dec 2011 23:35:00 GMT

When the system doesn't work, it appears dodgy builders can get away with almost anything.

JO KEIGHLEY and her family wanted a bigger house, so in 2009 they went online and found a local registered builder. The builder issued a warranty insurance certificate, the surveyor accepted it and issued a building permit, and the Keighleys signed a $122,000 contract for an extension.

Rental yields to continue climb due to low supply

SuperUser — Sat, 26 Nov 2011 01:15:00 GMT

Rental markets across the capital cities can be split into two broad categories - those where rents are increasing and those where rents are flat. In one camp are those cities where vacancy rates remain low while rental demand is high - consequently, rents rise. In the other camp, vacancy rates and rental demand aren't as tight, creating little upwards pressure on rents.

$1 billion in distressed property on the market

SuperUser — Wed, 23 Nov 2011 19:44:00 GMT

Banks are tightening the screws on development sites that have breached borrowing covenants, pushing more into receivership with “at least” $1 billion worth of distressed property currently for sale.

Buyers sit out rites of spring

SuperUser — Mon, 26 Sep 2011 05:08:00 GMT

Confidence seems to be worsening in line with global economic news.

Melbourne's auction market seemed to falter yesterday in the face of its first big test of the spring selling season.

The auction clearance rate fell to 53 per cent for the 599 auction results reported to the Real Estate Institute of Victoria. But this figure is likely to drop as the industry group tracks down the results of another 99 auctions still unreported.

Dodgy landlords facing crackdown

SuperUser — Fri, 16 Sep 2011 01:56:00 GMT

VICTORIAN landlords could be forced to pay tenants up to $1800 for urgent repairs under laws introduced this month.

Consumer Affairs Minister Michael O'Brien also yesterday announced rules that will compel real estate agents to report suspected unregistered rooming houses.

Online rivalry prompts CBA loan discount

SuperUser — Mon, 12 Sep 2011 07:51:00 GMT

Commonwealth Bank's offer of a short-term discount to borrowers for any housing loan is a move that reflects the growing importance of online competition among Australia's major banks.

Commonwealth Bank pledged to beat any advertised rate by ANZ, National Australia Bank and Westpac until the end of the September on new loans worth $100,000 or more, or new borrowings from existing customers of the same amount.

Going really cheap if you're prepared for a long drive

SuperUser — Mon, 12 Sep 2011 07:39:00 GMT

A TRIANGLE of wheat-belt towns nestled in a sea of green grain and yellow canola crops in Victoria's vast, flat Mallee country house many of the state's cheapest homes.

Dwellings in Hopetoun, Birchip and Sea Lake, about 400 kilometres north-west of Melbourne, have median prices city residents can only dream about. But buyers beware: they're isolated, living costs are high and a good car is a necessity, not a luxury.

Brighton mansion to test top-end record

SuperUser — Fri, 02 Sep 2011 19:28:00 GMT

SEVERAL of Brighton's best homes are vying for a record price this spring, testing Melbourne's soft real estate market and defying top-end trends.

The Moule Avenue beachfront home of Gribbles Pathology founder Wallace Cameron and his wife, Joan, will be put on the market this week with an estimated price of $25 million.

Australian homes still the world's biggest

SuperUser — Sun, 21 Aug 2011 22:58:00 GMT

AUSTRALIA'S love of huge houses with extra bedrooms, a study, media or family room may be coming to an end but our homes are still the biggest in the world.

The latest figures show the average new home built in Australia is still 10 per cent bigger than its counterpart in the United States and 9 per cent bigger than in New Zealand.

One buyer, many moments for The Block 2011 Finale

SuperUser — Sun, 21 Aug 2011 11:10:00 GMT

If there's a Logie for making something out of nothing, The Block 2011 Grand Finale must be a shoo-in for crafting two hours of television from an auction at which three out of four houses failed to sell.

That downbeat result left highly unfancied couple Polly Porter, 24, and Warwick "Waz" Jones, 27, as winners by default of the reality television renovation competition. Their house sold for $855,000 on a reserve of $840,000, leaving them to pocket the $15,000 difference plus a $100,000 cash prize.

House prices falling at worse rate than 2008

SuperUser — Thu, 30 Jun 2011 19:59:00 GMT

MELBOURNE property values have continued their six-month downward slide, recording the fourth-largest drop across the country.

Interest rate rises loom but home prices 'won't crash'

SuperUser — Mon, 27 Jun 2011 17:09:00 GMT

Property prices won't experience huge losses over the next three years but interest rates will rise to almost 9.5 per cent by 2014 to force buyers back onto the sidelines, a new study says.

Get a home loan while you can - banks set to get tough

SuperUser — Tue, 19 Apr 2011 21:06:00 GMT

Prospective borrowers have been urged to get a home loan while they can. Some may soon start to find it a little tougher to borrow, with the big banks expected to turn the screws quietly on who qualifies for a home loan.

Buyer beware: off-the-plan warning as projects stall

SuperUser — Fri, 08 Apr 2011 19:59:00 GMT

Off-the-plan housing contracts in Victoria will soon come with a ''warning notice'' on the front page as concerns escalate about complicated contracts favouring developers and a large number of housing projects that may never be delivered.

Home loans sink to decade low

SuperUser — Wed, 06 Apr 2011 08:01:00 GMT

Home loans dropped for a second consecutive month in February with New South Wales posting its biggest monthly decline in 14 years. The share of first-home buyers shrank further.

Rates, prices cap home building: HIA

SuperUser — Thu, 31 Mar 2011 19:31:00 GMT

New home building will fall 15 per cent in 2011 as interest rates and poor affordability wipe out recent stimulus-driven gains, Australia's peak residential construction body says.

City's population explosion

SuperUser — Thu, 31 Mar 2011 19:25:00 GMT

MELBOURNE'S outer suburbs are growing faster than any other area in Australia, part of a record-breaking trend that has seen Melbourne's population closing the gap on Sydney.

Not happy campers

SuperUser — Thu, 17 Mar 2011 19:48:00 GMT

What's the point in owning your own home when the land beneath it can be sold out from under you?

Australian houses most overvalued

SuperUser — Fri, 04 Mar 2011 18:40:00 GMT

AUSTRALIAN house prices remain the most overvalued in the world, according to the latest quarterly ranking of global house prices by The Economist magazine.

Five-star homes flunk energy test

SuperUser — Sun, 06 Feb 2011 01:09:00 GMT

HUNDREDS of thousands of new homes across the country are not performing at their promised energy efficiency rating, forcing residents to use up to double the predicted energy required for heating and cooling, industry officials say.

Beach box brings a lazy $215,000

SuperUser — Sat, 04 Dec 2010 20:51:00 GMT

A BAYSIDE family has shrugged off concerns about the worsening state of Melbourne's property market to spend a record $215,000 on a Brighton beach box yesterday.

Are Perth property prices going to fall even further?

SuperUser — Fri, 29 Oct 2010 17:48:00 GMT

Further evidence - if any more were needed - of the weakness in Perth's property prices has been produced today, and at least one expert says it could get even worse.

House buyers busy on big day

SuperUser — Sat, 23 Oct 2010 22:04:00 GMT

MELBOURNE'S property market has passed one of its biggest tests since the onset of the global financial crisis, with sales levels holding up despite a large number of properties going under the hammer.