New research has revealed that Australians are worried about repaying their home loans, with household debt reaching 25-year highs. The Australian Bureau of Statistics reported that the level of household debt at the end of 2013 was $79,000 per person, which it said was higher than at any time in the past 25 years. Household […]
A continuing strong housing market was one of the factors why the Reserve Bank board decided to keep the cash rate on hold this month and likely for some time yet. “Although the most recent data had indicated a decline in the housing market, dwelling approvals remained at high levels and the flow-on to commencements […]
Australians seem divided about whether foreign investment is a threat to the housing market or an opportunity. The Inquiry into Foreign Investment in Residential Real Estate has received submissions from ordinary Australians that voice concerns about housing bubbles, ‘dirty money’ and rule-breaking. One submission said foreign investment is creating “ unprecedented price pressure on residential […]
NAB has revealed it does not expect an interest rate rise until the last quarter of 2015, defying industry predictions the RBA could move as soon as September. Speaking at a NAB Federal Budget Breakfast in Sydney yesterday, the bank’s global head of research, Peter Jolly, said the bank’s forecasts were that the RBA was […]
