Addressing the critical need for affordable housing, the New South Wales (NSW) government has introduced a range of incentives to encourage property developers to allocate at least 15% of new projects for affordable housing. In addition to fostering social inclusivity, these incentives offer significant benefits to developers, including increased floor space ratios and height bonuses. […]
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As technology continues to advance at an unprecedented pace, artificial intelligence (AI) has emerged as a game-changer in various industries. The mortgage lending sector is no exception, with AI-powered tools promising to simplify the process and assist borrowers in finding their ideal home loans. However, the question remains: will mortgage brokers be replaced by AI […]
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Landmark decisions mean that borrowing is getting easier, just as buyers are inching back into the property market. This week Westpac had a stunning court victory against the Australian Securities and Investments Commission on how banks should assess borrowers’ living expenses and the resultant impact on an applicant’s borrowing capacity. Justice Perram’s judgement noted that […]
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Jack Derwin| Business Insider| 12 August 2019 https://www.businessinsider.com.au/the-rba-is-now-considering-the-drastic-measure-of-negative-interest-rates-meaning-you-could-be-paid-to-borrow-money-from-the-bank-2019-8 Australians could soon be paid to borrow money from banks for the first time in history, as the Reserve Bank of Australia (RBA) says it’s prepared to take extraordinary steps to stimulate the economy. Facing up to the government’s standing economic committee on Friday, RBA governor Phillip […]
[...]Hannah Dowling| Mortgage Business| 8 August 2019 https://www.mortgagebusiness.com.au/breaking-news/13686-mortgage-approval-values-bounced-back-in-june ABS data from June has reported an overall increase in lending values, driven by owner-occupiers and first home buyers. According to the latest Lending to Households and Businesses data from the Australian Bureau of Statistics (ABS), the total value of home loan approvals increased, in seasonally adjusted […]
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MFAA | 19 June 2019 https://www.mfaa.com.au/news/mortgage-brokers-record-highest-ever-market-share-amidst-tough-market-conditions The mortgage broker channel has recorded its highest ever residential home loan market share result with brokers settling 59.7 per cent of all residential home loans during the January – March 2019 quarter, according to the latest data released by research group comparator, a CoreLogic business, and commissioned by the […]
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David Ross| Domain | 27 June 2019 https://www.domain.com.au/money-markets/why-your-credit-score-is-going-to-change-on-july-1-852970/ Lenders are set to learn a lot more about borrowers from July 1, with banks required to share more data on applicants than ever before. The full implementation of comprehensive credit reporting next month means everyone’s credit score is likely to change. It’s set to be a […]
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Mortgage Business | 2 July 2019 https://www.mortgagebusiness.com.au/breaking-news/13565-open-banking-regime-commences The financial services sector has officially ushered in the first phase of the new open banking regime. The 2019-20 financial year has kicked off with the launch of the open banking regime, a framework designed to facilitate the open exchange of data in the private sector, beginning with […]
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Michael Bleby| Australian Financial Review| 29 September 2021 https://www.afr.com/property/residential/housing-price-growth-tipped-to-slow-to-7pc-20210929-p58vsb Australia’s housing price growth will slow to 7 per cent next year as macroprudential controls add to the headwinds of worsening affordability, reduced immigration and incentives and possibly even higher mortgage rates, AMP Capital chief economist Shane Oliver says. Dr Oliver said he had already predicted […]
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Tim Lawless| Corelogic| 1 October 2021 https://www.corelogic.com.au/news/september-2021-home-value-index?utm_medium=email&utm_source=newsletter&utm_campaign=20211005_propertypulse CoreLogic’s national home value index rose another 1.5% in September, taking Australian housing values 17.6% higher over the first nine months of the year and 20.3% higher over the past 12 months. The annual growth rate is now tracking at the fastest pace since the year ending June […]
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Tim Lawless| Corelogic| 2 August 2021 https://www.corelogic.com.au/news/july-2021-home-value-index Australian housing values increased a further 1.6% in July, according to CoreLogic’s national home value index. The latest rise takes housing values 14.1% higher over the first seven months of the year and 16.1% higher over the past twelve months. CoreLogic’s research director, Tim Lawless, described the […]
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Euana Black| The New Daily| 1 July 2021 https://thenewdaily.com.au/finance/property/2021/07/01/australian-housing-fastest-growth-since-2004/ Sydney property prices increased by about $800 a day in June as the Australian housing market recorded its fastest annual growth since April 2004. Data released by CoreLogic on Thursday shows national property prices jumped by 1.9 per cent over the month on the back of […]
[...] Pete Wargent Blogspot| 9 August 2021 https://petewargent.blogspot.com/2021/08/home-ownership-rate-surges-higher.html There were solid preliminary auction results for Sydney over the weekend, with only slim pickings for buyers to choose over as stock listings have tightened. Melbourne had more than 1,300 auctions scheduled, and with only a low percentage of results reported the final clearance rate for the Victorian capital […]
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Bianca Healey| Business Insider| 12 August 2021 https://www.msn.com/en-au/money/homeandproperty/the-australian-property-market-hit-8-trillion-in-march-it-ll-likely-hit-9-trillion-by-the-end-of-the-year/ar-AANaZt9?ocid=msedgdhp&pc=U531 The value of the Australian property market hit an astounding $8 trillion in March — and is now on track to reach its next trillion-dollar milestone by the end of this year. Newly released CoreLogic data shows that total residential property values are likely to reach $9 […]
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