From negative credit reporting system to comprehensive credit reporting, Australia seems to be travelling on the right path. Earlier, only infringements and credit enquiries were hotly chased. While it punished the delinquents by reducing their creditworthiness, it did nothing to reward those who pay their bills on time.
Archives
Which States Lean More Towards Borrowing?
Out of the 43,963 home loans financed in the month of January, 28% of loans have been sought by borrowers in NSW. Close on their heels are borrowers from VIC, standing at 27%. In an article for the website realestate.com.au, Venessa Paech informs us on the borrowing habits of the Australian citizenry.
In terms of average loan size, NSW’s $357,000 was the highest (NSW topping on two counts) followed by ACT’s $341,700 and Western Australia’s $320,300.
Miss Paech talks about the need to be savvy and adds that buyers should be on the prowl while comparing home loan rates and best offers- after all, the gap between the ‘best case’ and the ‘worst case’ on variable rate is as much as 4.5%. It then becomes important that the borrowers press the lenders as much as they possibly can.
You can read the original article here.
Sydney and Melbourne in the List of Most Expensive Cities
Venessa Paech feels we are not imagining things if we are feeling a little squeezed out living in Sydney or Melbourne. In an article for the website realestate.com.au, Miss Paech informs that these two cities have found their way to the list of top 10 most expensive cities in the world. While Melbourne is in a tie with Caracas and Geneva for the 6th place, Sydney ranks one step above.
The bi-annual survey conducted by the Economist Intelligence Unit’s Worldwide Cost of Living Survey makes comparison across 131 cities, using a repertoire of 160 products and services.
You can read the original article here.
Which between Sydney and Melbourne (if either) do you feel will become unaffordable in coming times?
Low Vacancy May Pressurise Tenants
Rental market is tightening up all across New South Wales, with vacancy rates continuing to dip. Inner Sydney has already witnessed a two-year low- never before has it hovered around the 1.5% mark since March 2012.
HIA Predicts 2014 Will Be Good For Housing Industry
Succeeding back-to-back years of decline, new dwelling commencements have got a spring in their stride this year. A Press Release on the website of the Housing Industry Association (HIA) quotes how the housing starts have enhanced by 11.7%, reaching a phenomenal 161,970 last year.
Time on Market Close to 2010 Standards
The houses and units in capital cities are on fire and pleasantly so. They are showing robust trends not only in terms of auction clearance rates but also in terms of time on market and discounts.
