Smaller mortgages are the trend with Australians nowadays as house prices soften in Australian capital cities.
Australians have been observed nowadays of borrowing less as homes for sale prices slide.
This trend has further cemented to the Australians the culture of reducing debt which was brought about by the global financial crisis. more…
Australia has been known to have the largest dwellings in the world and these houses are noted to be of high quality, with the average Australian house estimated at 214 square meters.
Now, the sizes of Australian houses have shrunk as potential home buyers are being offered new house and land packages that is a quarter the size than what was supposed to be before.
The shrinkage is blamed on the changing household preferences. more…
Australia’s Gen-Y, otherwise called the young Aussies, has broken the mold.
Once typecast as being fixated with carefree spending and sponging off their parents, these Gen-Yers have flown out of its pigeonhole as the currently ongoing high property prices have changed them from being Generation Egocentric into Generation Prudent.
According to a recent survey conducted on mortgage-holders with the age under 30, it reveals that of the thousand respondents surveyed, 71 percent claimed that they never have rented a property. more…
Previously, only a deposit and a full-time job are the standard requirement needed to get a home loan, but not with this day and time. Today’s lenders are requiring much more.
What you need to get a home loan? (what lenders want to know)
Today’s financial instability has brought a prospective home-buyer’s complete financial history under the microscope, as home loan lenders try to determine whether they are ever going to get their money back. more…