Key Facts and Insights: Quotes: Conclusion: The Sydney housing market is facing significant headwinds, characterized by declining auction clearance rates, falling house prices, and a surge in property listings. The impact of interest rate hikes on affordability is a key driver of this downturn. Until the Reserve Bank of Australia begins to cut interest rates,… Read More »
When it comes to Australia’s most expensive home, the rumors are as juicy as the price tag. “Aussie” John Symond’s $200 million Point Piper palace, Wingadal, has long been shrouded in mystery – and the talk of 24 toilets. A Lavish Loo-Filled Lair Symond, the mortgage mogul behind Aussie Home Loans, spared no expense when… Read More »
ANZ has launched a pilot mortgage product that offers special deals to borrowers in 145 select postcodes, primarily in wealthy areas of Sydney like Double Bay, Rose Bay, and Bronte. The new mortgage product is targeted at high-income borrowers, requiring a minimum income of $400,000. Borrowers can take out loans between $5-8 million without needing… Read More »
NSW Fair Trading last May established a dedicated underquoting team to address “rising concerns” about the practice. This practice is harming the income of Mortgage Brokers. Underquoting by real estate agents is becoming more frequent across Australia as a lack of regulation and weak enforcement frustrates those in the property market and forces up prices,… Read More »
The mortgage industry in Australia is undergoing a significant transformation driven by the rapid advancements in artificial intelligence (AI) technology. While mortgage brokers have traditionally played a crucial role in the lending process, there is a growing consensus that AI will eventually replace their services, and this is a positive development for both borrowers and… Read More »
A Brisbane couple has been left with nothing after taking out a loan with a second-tier lender. They say they were pushed out of their home. Now, lawyers are fighting to recoup the equity of the property alleging the deal was unlawful.
In recent months, lenders have been quietly adjusting their mortgage rates and pulling back on key incentives, signaling an end to what experts have dubbed the “mortgage wars.” Despite the Reserve Bank of Australia (RBA) keeping the cash rate steady, banks are making moves to shore up their bottom lines and prepare for potential rate… Read More »
The average mortgage size in Australia has soared to a record high, fueled by surging prices and rising interest rates. According to recent data released by the Australian Bureau of Statistics, the national average new mortgage size hit $624,383 in December 2023, marking an all-time high. Across states and territories, Queensland, South Australia, and Western… Read More »