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HomeBuilder extension gives applicants extra 12 months to start building

Tens of thousands of HomeBuilder applicants around the nation can breathe a sigh of relief after the federal government extended the construction commencement requirement from six months to 18 months. It’s fair to say that the success of the HomeBuilder program caught a lot of people off guard and, as a result, contributed to a surge in demand for manpower within the residential construction industry. In fact, more than 121,000 Australians applied for the HomeBuilder grant, which is expected to…...
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How long do you have to snap up a property in the current market?

You open up the real estate app on your phone, scroll through a few listings, and then there it is: the home of your dreams, ‘added 1 hour ago’. So just how long do you typically have to act in this hot market? Well, let’s just say it definitely helps to have spoken to us about pre-approval if you’re actively house-hunting right now. That’s because the average number of days properties are listed for sale on realestate.com.au reached record lows…...
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Fixed mortgage rates set to rise in coming months: experts

House prices could jump 17% in 2021 and mortgage rates are set to rise much sooner than expected, ANZ Bank has tipped. How much earlier than expected? Well, the Reserve Bank has repeatedly said the official cash rate isn’t likely to increase for a few years, but ANZ senior economist Felicity Emmett believes fixed-mortgage rates have already reached their lowest point, or close to it. In recent times, more than 30% of new loans have been at fixed rates, says…...
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Free new mental health support service for small business owners

Floods, fire and pandemic - it’s been an incredibly tough 15 months for many Australian businesses. And with government support about to end, looking after your mental health will be just as important as taking care of your business’s financial health. With the federal government’s COVID-19 JobKeeper wage subsidy scheme expiring on 28 March, experts are tipping as many as a quarter of a million jobs could be lost. When you also consider that rental eviction moratoriums are coming to…...
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$15,000 HomeBuilder grant deadline fast approaching

Thinking of building, buying a new home or renovating? The HomeBuilder scheme ends on March 31, which means you’ve got less than two weeks to take advantage of the $15,000 grant. The Australian government scheme, which was initially due to end in December but was extended to 31 March, has led to a big spike in new home sales in recent months. And experts are tipping HomeBuilder applications will continue to rise before the impending cut-off date. “We expect a…...
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Boom time: Australian home values surging at fastest pace in 17 years

It’s official: Australia’s housing market is in the midst of a broad-based boom, with the national home value surging 2.1% higher in February; the largest month-on-month change since 2003. We haven’t seen this kind of fast-paced growth since Guy Sebastian robbed Nollsie to win Australian Idol, Roger Federer won his first of 20 grand slams (against the Scud at Wimbledon), and people primarily used their mobile phones to make calls (well, and play Snake). The February surge, which was recorded…...
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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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Tick tock – is time running out for first home buyers?

The first home buyer market had a bumper year in 2020 due to modest declines in property prices, reduced investor activity, and a range of government incentives. But with those advantages tailing off, how will first home buyers compete in 2021? Another week, another big bank tipping national property prices are set to boom. This week it was Westpac’s turn, with their senior economist tipping property prices to increase 10% in 2021 and another 10% in 2022. This follows AMP…...
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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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Back up for grabs: 1800 first home buyer scheme spots reissued

Great news just in for first home buyers: the Australian government will reissue 1800 First Home Loan Deposit Scheme (FHLDS) spots from the 2019-20 financial year.  The 1800 spots are back up for grabs because people who previously reserved a spot in the Australian government scheme were unable to complete the purchase of their first home. Their loss can be your gain! The FHLDS allows eligible first home buyers to break into the property market sooner, as you only need…...
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