October 2013

Home loan market sees increase in property investor commitments

By the resi financial blog team, 29 October 2013

Investors own the most property

Investors have become the majority share of the home loan market, according to a recent research by Rate City.

Financial commitments by property investors represented 45 per cent of all new home loan settlements in July, which has beaten out property upgraders (44 per cent) and first home buyers (11 per cent).

Alex Parsons, chief executive officer for Rate City, said the investor share of the market has been increasing, with the changes to self-managed superannuation funds contributing to the gro ...

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Reserve Bank: Cash rate retained at 2.5 per cent

By the resi financial blog team, 29 October 2013

Cash rate stays at 2.5 in October 2013

Since the Reserve Bank of Australia began easing monetary policy back in 2011, the official cash rate has dropped by a huge 2.25 percentage points, coming to rest at 2.5 per cent back in August of this year.

During this period, the housing market has begun to regain confidence, with more people taking out home loans, whether for their first home or in order to start their investment property portfolio.

Yesterday (October 1), the Reserve Bank made the announcement that the cash rate will remain at ...

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New South Wales experiencing fantastic housing approval rates

By the resi financial blog team, 29 October 2013

New South Wales experiencing fantastic housing approval rates

New South Wales has continued the strong streak of housing approvals, retaining it's highest levels in nine years and continuing to rise despite the national average decreasing, according to data released by the Australian bureau of Statistics (ABS).

In the 12 months to August 2013, NSW had a total of 41,309 houses approved - the highest level since seen 2003/04. Planning and Infrastructure Minister Brad Hazzard stated that this hike in approvals shows NSW is "the happening place" to build property.

"In NSW approvals have increased by 8 per ce ...

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