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Apr
12

How do dwelling values compare with previous highs?

Low mortgage rates, a swift economic recovery, which has spurred consumer sentiment, and low listing volumes have catapulted national housing values to new record highs. At the end of March, the CoreLogic national home value index increased a further 2.8%, placing values 5.6% above the previous market peak in October 2017. The combined value of Aus...
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36 Hits
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Mar
24

Rentvesting' rates rise as Sydney property prices force buyers elsewhere

Rather than being forced to live in an area that they might not necessarily want to, people are considering the rentvesting strategy. Put simply, it's 'Live where you want to live, invest where you can afford." Click here for the full article by Mike Wood - Australian Broker           25 Mar 2021
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128 Hits
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Feb
08

Updated credit reporting laws to help or harm consumers?

Australians will have their private financial hardship information included on their credit reports for the first time with the passing of the National Consumer Credit Protection Amendment (Mandatory Credit Reporting and Other Measures) Bill 2019. While before, credit reports were only required to include credit inquiries, defaults and serious infr...
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330 Hits
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Feb
03

CUA announces name change

The customer-owned bank has announced that it is to start trading under a new name and call itself a bank by the end of the year.


Credit Union Australia (CUA) has announced that it will begin trading under a new name, Great Southern Bank, as it moves to cater to a younger audience.


CUA’s CEO, Paul Lewis, said the bank had conducted research which showed that it needed to change its name from a ‘credit union’ to a ‘bank’ due to younger adults not having a strong understanding of what a credit union was or how it operates.


He said: “This is vital so that more members and younger generations understand that we offer the same products, services and security that a bank does – with the benefit of reinvesting 100 per cent of our profit back into our customers.


“Reflecting our strong and proud Australian history, we will begin trading as Great Southern Bank later this year,” he said.

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275 Hits
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Feb
01

CoreLogic - Australian Housing Values - 1, February 21

A brief summary of the recent CoreLogic Hedonic Home Value Index for February 2021Housing values continue to rise as of early 2021Regional housing rising at twice the pace of capital city marketsHouses are increasing faster than unitsNational home sales 23.9% higher over the last 3 months compared to the same time last yearHousing activity on ...
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328 Hits
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Oct
01

CoreLogic (Media Release) Lower home values in Melbourne and Sydney continue to weigh down the national housing market while the remaining capitals record a lift through September

September marked a striking turn in housing market sentiment; consumer confidence increased, new listings rose, and six of the eight capital cities recorded a rise in home values over the month. However, falling values in Melbourne and Sydney, which make up approximately 40% of Australian's housing stock by number and 55% by value, pushed the natio...
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686 Hits
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Jun
04

HomeBuilder program: $25k grants for renovations, new builds

HomeBuilder - Background Document  The Morrison Government's HomeBuilder will provide eligible owner-occupiers (not just first home buyers) with a grant of $25,000 to build a new home or substantially renovate an existing home.  Summary   HomeBuilder is a time-limited and demand-driven grant program to help the residential construct...
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967 Hits
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Apr
22

Change: Is this the new normal?

I hear and see people complaining about so much lately whilst being in lockdown. Cannot do this can't go there. But is this going to be the new normal? Maybe not everything, but I do think some of these changes might stick! Business especially has quickly been forced to adapt, to do things differently. Maybe working smarter, from a different locati...
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971 Hits
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Jun
17

How to boost your credit score in 90 days

Do you know what your credit score is? It's a great idea to find out, so that you can stay in control of your finances. If you don't know what your credit score is, finding out at least three to six months before you want to apply for a loan or a new credit card can allow you time to boost your credit score, if it's a little lower than you expected...
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1879 Hits
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Jun
11

Why serviceability is the key to an affordable home loan

When you're looking for a new home loan, the question is not, 'How much can I borrow?' Instead you should be asking, 'How much can I afford to repay?' This key factor is one of the ways lenders work out the size of your loan, and it's called 'serviceability.' Everyone would love to have no home loan, but a mortgage is part of life for the majority ...
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1993 Hits
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May
06

Home loans delayed, denied and dearer post - Hayne Royal Commission

James Frost Financial Services Writer - Financial Review Apr 23, 2019 Strict interpretation of responsible lending laws has created a bottleneck of mortgage applications with massive delays in the approval process contributing to a rise in the cost of credit and vastly reduced borrowing capacity in the post-royal commission environment.   Data...
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2227 Hits
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Apr
23

​Interesting article about the last time the labor government tried to tweak the investment property sector

What happened in 1985-87 - by John McGrath Last week I discussed the risks to everyday Australians that I see in the changes to negative gearing and capital gains tax proposed by Federal Labor if it wins the election. In short, Labor intends to abolish negative gearing on established investment properties purchased after January 1, 2020 and halve t...
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1546 Hits
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Feb
06

CBA makes a $4.7 Billion profit for the first 6 months of the FY, but want's you to pay a fee (not them) for the privilege of giving them your business.

The Commonwealth Bank of Australia (CBA) has reported a cash net profit after tax (NPAT) of $4.7 billion for the first half of the 2019 financial year (1H19), an increase of 1.7 per cent from 1H18. However, much of the bank's home loan growth was generated through the broker channel, which originated 45 per cent of CBA's home loan flows, up 5 per c...
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1801 Hits
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Dec
03

Fee-for-Service Model: Hurting Australian Home Owners and Helping the Big Four

By Alex Anderson - Founder and CEO of Chesswork Group This article is in response to some of the remarks made by the Royal Commissioner and the deflections toward the broking industry made by the CBA CEO in the face of scrutiny by the commission. Currently, consumers have access to the expertise of professional mortgage brokers without having to pa...
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1173 Hits
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Oct
08

New bank in 2019

From February 2019, a new bank called "Health Professionals Bank" will be launched under the Teachers Mutual Bank Limited brand.It joins Teachers Mutual Bank, UniBank and Firefighters Mutual Bank as the group provides finance options for various industry sectors and their families. Teachers Mutual Bank CEO Steve James said they had identified a sec...
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1238 Hits
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Sep
11

How to pay off your mortgage faster?

When was the last time you looked closely at your loan, the progress you are making on paying it off and how it compares to others in the market? Analyzing your mortgage could mean savings for you, as well as the opportunity to pay it off more quickly, invest in other assets or reach financial freedom sooner.  Consider these simple options. Ma...
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1101 Hits
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Jul
24

How important are mortgage brokers? The answer is VERY.

Deloitte Access Economic were commissioned by The Mortgage Brokering Industry Group (MBIG) which comprises AFG, Astute Financial, Aussie, CHOICE Aggregation, Connective, FAST, FBAA, Loan Market, MFAA, Mortgage Choice, NMB, PLAN Australia, and Smartline, to provide an independent report on the value of mortgage brokers to the consumer.  Pl...
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1098 Hits
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Jul
23

How Have Dwelling Values Changed Over The Past Decade?

Just how have property values changed over the last ten years? Recently, CoreLogic Australia's leading property research and data hub looked at this topic and produced an interesting article that looks at just this.   Click here for the full story.
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971 Hits
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May
09

First Home Superannuation Saver Scheme - What, How & Why?

The Government will help Australians boost their savings for their first home by allowing them to build a deposit inside superannuation. The details: From 1 July 2017, individuals can make voluntary contributions of up to $15,000 per year and $30,000 in total, to their superannuation account to purchase a first home. These contributions, which are ...
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1034 Hits
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May
01

Home prices soften, but it's not all doom and gloom

Yes, property values have softened across Sydney and other areas nationally but this needs to be put into context. There are reasons we are now seeing this trend. 1. Lower prices in Sydney are off the back of record increases in a relatively short period following a sustained period of flattening.2. Tighter credit policies that have been put into p...
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953 Hits
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