Traditionally, property prices have been closely linked to the rise and fall of interest rates. But not necessarily in 2023. In this article, we wanted to look at what is causing this unusual trend and whether interest rates play an overstated role in shaping the property market.
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Far from a splash of cash, the decision to control spending and limit inflation has meant that there are few surprises to come out of this year's budget. So who are the winners? Our experts, Oz, Shehan and Sam, have shared their biggest takeaways.
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With property prices lifting for consecutive months, the Australian property market has reached a curious junction point. We analyse the question; are property prices finally recovering?
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After a year of pain for borrowers, many Australians have anxiously entered 2023 with the prospect of further cash rate hikes threatening already thin household budgets.Since interest rates began to rise in May last year, the average borrower with a $500,000 mortgage has seen their monthly mortgage repayments rise by $834. For the average borrower with a $1 million mortgage, monthly repayments are an extra $1668. Add inflation and soaring costs to that mix, and you have many Australian families under a great deal of financial stress.
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Earlier this month, borrowers were hit by a 50 basis-point hike in the cash rate; the largest rate rise since February 2000. Sadly, rates are expected to continue rising sharply over the next year or so as surging inflation battles the global economy.
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With the 2022 election behind us, it’s time to look ahead and see what Saturday’s result will mean for the Australian property market. Housing affordability became an important issue on the campaign trail, with both major parties putting forward their own proposals to help soften the blow for first home buyers.
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Inflation, rate rises, increased demand and housing unaffordability may finally be putting the breaks on Australia’s runaway property market.
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There was a clear focus to ease the cost of living for Australian which has skyrocketed in the wake of the pandemic and the war in Ukraine. Tuesday’s budget focused on two key areas to help address this issue.
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Since last November, new legislation has required all company directors to apply for a director identification number in order to better track the activity of directors and their companies.
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