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How much extra will your mortgage cost when interest rates rise?

After 18 straight RBA cash rate cuts it can be easy to dismiss the notion that interest rates might rise again. But if the cash rate returned to mid-2019 levels, how much extra would an average new mortgage holder expect to pay each month? Let’s take a look. They say what goes up, must come down. But does what goes down, have to come up? Well, the big banks think so - and sooner than many expect. While the RBA…...
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First home loan deposit schemes open for applications

If you’d like to buy your first home with just a 5% deposit and pay no lenders mortgage insurance (LMI), then you better act quick, as thousands of first home buyers are expected to rush to apply for the limited spots up for grabs. And if you’re a single parent with dependent children, a similar scheme now allows you to purchase a home with just a 2% deposit without paying LMI, regardless of whether or not you’re a first home…...
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Property price caps increased for first home loan deposit scheme

First home buyers can now purchase more expensive properties under the federal government’s hugely popular 5% deposit, no LMI scheme. Single parents with dependent children are also welcoming the higher property price caps, which will apply to the federal government’s new Family Home Guarantee scheme, too. The First Home Loan Deposit Scheme (FHLDS) allows eligible first home buyers with only a 5% deposit to purchase a property without forking out for lender’s mortgage insurance (LMI), which can save buyers anywhere…...
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Size matters: how to get more bang for your buck on property sizes

An increasing number of Australians are prioritising larger homes and bigger blocks in their house-hunting endeavours since the pandemic began. But where to look? Well, a new search tool helps you calculate which suburbs offer the best bang for your buck. ‘Give me a home among the gumtrees ...' There’s no denying that COVID-19 has resulted in a widespread shift in attitudes on how a family home can contribute to a better work/life balance. With flexible work arrangements becoming the…...
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33 suburbs where buyers still have the upper hand over sellers

Most of Australia may be a seller’s market right now, but there are still a few dozen suburbs around the country where there’s more housing stock available than in previous years. Today we’ll check out which 33 suburbs are still offering plenty of options for buyers. One key factor that’s resulted in the current “seller’s market” across the majority of Australia is the low level of housing stock available for sale. In the three months to May, CoreLogic estimates that…...
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4 in 5 hopeful buyers don’t understand key financial concepts

While most Australians dream of owning their own home, the majority of hopeful homeowners admit they don’t fully understand how home loans or mortgage rates work. That’s why we make it our mission to enlighten you during your home buying journey. They say knowledge is power. But this week we stumbled across some interesting stats from UBank's Know Your Numbers survey. It found that 84% of Australians who are yet to buy a property admit they don't know enough about…...
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SMEs to get full asset write-off extension and fairer go with ATO

Small businesses in dispute with the ATO over their tax debt will get “a fairer go” under new rules proposed in the federal budget. Meanwhile, one-year extensions have been granted for the full asset write-off and loss carry-back schemes. Let’s break it all down. There’s a lot to digest in this year’s pandemic-recovery federal budget. So today we’ve chosen to focus on just a few key budget announcements we feel may help SMEs manage finance and debt in the years…...
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Single parents and first home buyers get big budget boost

Single parents saving for a property and first home buyers are the big winners from this year’s federal budget. Today we’ll break down the three schemes that will help them crack the property market sooner. In recent months there have been signs that first home buyers are beginning to shy away from the property market, as investors return in big numbers to take advantage of optimistic property market price outlooks. So this year’s federal budget focussed on giving first home…...
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Is it cheaper to buy or rent your next home? You might be surprised

While it might feel like property prices are skyrocketing out of reach, the majority of Australian homes are actually cheaper to buy than rent over the next decade, according to a new report. The latest REA Insights Buy or Rent 2021 Report reveals it is cheaper to buy than rent around 57% of dwellings across Australia, based on modest housing price growth of 3% per year over the next decade. Now, the results differ by property type and from state…...
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Has the housing market’s latest record-breaking run peaked?

Property prices climbed at a breathtaking pace in early 2021, which has been good news for homeowners and heartbreaking for house hunters. However, there are seven key signs that the pace of capital gains has peaked, says CoreLogic. Now, it’s important to note that CoreLogic is not suggesting that housing values are about to dip. Far from it. Rather, CoreLogic believes the housing market is “moving through a peak rate of growth and the pace of capital gains will gradually…...
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