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Lately, people have been telling me they’re considering adding a small dwelling to their backyard… either to generate rental income or to give their grown-up kids a place to live. Despite rising construction costs and higher interest rates, relaxed planning laws are making these builds easier than they once were. But is adding a granny… Read more »
The CommBank is experiencing a surge in home loan pre-approvals – up 12 per cent since the last two interest rate cuts. The average borrowing amount has also increased 13 per cent, compared with this time last year. Ray White chief economist, Nerida Conisbee, has done a deep dive into how this… Read more »
Getting your kids living in the right school catchment area is a big priority for many Australian families. But it comes with a premium price tag. Using a new custom boundary analysis, property research group Cotality compared property values inside popular public high school catchments with comparable homes in the same suburbs, just outside the… Read more »
Australia has had an explosion of million-dollar homes … New research from Cotality (formerly CoreLogic), shows that over a third of homes nationally are now valued at $1 million or more – with that amount of money buying less in the housing market than ever before. Up, up and up Data going back 10 years… Read more »
With a rate cut comes an increase in property values … But the higher prices might mean you now need to borrow more. Here’s how to make yourself more appealing to a lender. Be honest with yourself While rate cuts will improve borrowing power, be warned they won’t necessarily bring homeownership dreams closer in reach.… Read more »
Buyers are starting to see a drop in housing values, but we still need increased supply to make property affordable – and it’s not happening anytime soon. It does make me laugh. When the residential property market is booming, all the media coverage is focused on the lack of affordability for first home buyers. My… Read more »
