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…
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…
The last month of the first quarter of 2011 has seen a rise in Australian residential building approvals of a seasonally adjusted 9.1 per cent to 13,627 units in March. This positive development is a sure step towards a positive improvement from an upwardly revised 12,492 units in February.
This means that house builders or home builders are now quite busy building display homes and have increased the number of house and land package available in the market. more…
According to the Australian Bureau of Statistics (ABS), the house price index of eight capital cities have fallen 2.1 per cent in the first quarter of 2011 compared with an upwardly revised 0.8 per cent increase in the house price index for the December quarter.
Brisbane, Perth, and Darwin have suffered the biggest declines.
The fall was said to be the biggest since the financial crisis of September quarter of 2008.
Property analyst RP Data-Rismark’s report has discovered that the March capital city houses for sale prices were relatively flat as compared with the month of February, which has fallen with just 0.2 per cent, though house prices were down 0.6 per cent from a year earlier. The report pointed to a cooling in the housing market. more…
