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SME credit demand improves, lenders begin next phase of COVID-19 support

Things are starting to look better for small business owners across the country with just 5% of deferred business loans yet to resume repayments. Meanwhile, there are signs that business credit demand is improving, especially when it comes to asset finance. The first bit of data comes from the Australian Banking Association (ABA), which shows just 11,263 business loans across the country are yet to resume repayments. That’s a huge drop from the height of the pandemic back in June…...
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“On the cusp of a boom”: CBA’s assessment of the housing market

Australia’s housing market is on the “cusp of a boom”, with house prices set to leap 16% over the next two years, according to the Commonwealth Bank (CBA). The head of economics at Australia’s biggest bank, Gareth Aird, predicts national house prices will surge 9% in 2021 and a further 7% in 2022. Apartment prices meanwhile are predicted to rise 5% in 2021 and 4% in 2022. "The negative impact that COVID-19 had on Australian property prices turned out to…...
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Record-breaking: 5 big property trends in 2021

After a bumpy 2020, 2021 is already rewriting the record books. From property prices, to interest rates, to refinancing - no matter which way you look records are being broken. Today we’ll look at why property market sentiment is riding so high. How quickly things can turn around. It wasn’t too long ago (9-10 months, to be more precise) that many highly-regarded economists were predicting property prices could plummet 30% due to COVID-19. Instead, now we’re seeing official RBA documents…...
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CoreLogic’s Home Value Index in 2021 shows Australian housing values reached a new record high in January.

Housing values continued to rise through the first month of 2021 with CoreLogic’s national home value index up 0.9% over the month. The January movement takes Australian home values to a fresh record high.Housing values have surpassed pre-COVID levels by 1.0%, and the index is 0.7% higher than the previous September 2017 peak. Every capital city and broad rest-of-state region recorded a rise in housing values over the month, ranging from a 2.3% surge across Darwin to a relatively mild 0.4% rise in Sydney and…...
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How did your suburb fare during the COVID-19 crisis?

When coronavirus broke out across Australia, doomsday reports tipped the property market could fall as far as 30% across the country. Fortunately, that wasn’t the case. Here’s how to find out how your suburb actually fared. A realestate.com.au analysis shows that property prices actually grew in most Australian suburbs throughout 2020. Yep, that’s right. Despite prolonged lockdowns in some parts of the country (especially Melbourne), most suburbs experienced year-on-year growth in 2020. Go and have a look for yourself using…...
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How will your business bounce back from 2020?

If you’re worried about how to recover from the horror show that was 2020, you’re not alone. Two-thirds of Australian small to medium businesses feel the same way, research shows. As SMEs look towards “COVID-normal” in 2021, many are wondering how they will rebound from the stresses and strains of the past year. In fact, as many as 65% of businesses are worried about having a clear recovery pathway, according to findings from business banking analysis firm East & Partners.…...
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Happy New Year! Here’s to a prosperous 2021!

Well, that was a year for the history books. Time to start looking forward, we reckon! And the good news is 2021 offers plenty of promise. So what’s your New Year’s resolution? While we saw the national housing market dip throughout the middle of 2020, it's already started to recover, and many experts predict it'll rebound even stronger in 2021 as the COVID-19 vaccination is rolled out across the country. With that optimistic outlook in mind, now’s a great time…...
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Responsible lending laws to be axed: what that means for you

You might have recently heard that ‘responsible lending laws’ are set to be scrapped early next year. Rest assured though that you'll still be able to borrow responsibly. Let us explain how. The planned scrapping of the responsible lending laws is the federal government’s latest key initiative to boost economic recovery from the COVID-19 recession. Now, the federal government (and the banks) say it will simplify the regulatory landscape and free up access to credit for home buyers and small…...
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JobKeeper 2.0 is about to begin: here’s what you need to know

Like most sequels, JobKeeper 2.0 won’t be as big a blockbuster as the original. But that’s not to say it won't help many SMEs navigate the difficult times ahead. Today we’ll cover what you need to know about making the transition for your business. It’s hard to believe that JobKeeper 2.0 is due to begin next week. But it’s actually been half a year (or 13 fortnightly payments) since the scheme was first launched, over which time around 42% of…...
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House prices tipped to surge 15%, RBA hints at cash rate cut

Strap yourself in: Australian house prices are tipped to experience a mild COVID-19 dip before surging 15% over the following two years, according to some of the nation's top economists. And in more good news for homeowners, RBA Deputy Governor Guy Debelle has hinted at further reductions to interest rates, while not going into negative territory. Both NAB and Westpac economists have been quick to jump on board the rate cut hype train, predicting the RBA could cut the cash…...
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