Our commentary on issues important to home owners, investors and borrowers
Loanscape has today released its Borrowing Capacity Index for Q2/2024. It shows that the borrowing capacities of Australian individuals and families have stabilised after the sharp decline over the past 2 years. Lower income borrowers continue to be disproportionately impacted by interest rate increases: the family income required to qualify for the average size loan in Australia is 35% higher than 2 years ago.
Read MoreLoanscape has today released its Borrowing Capacity Index for Q1/2024. It shows that the borrowing capacities of Australian individuals and families continue to decline. The more modest decline in the size of average loans being taken confirms that lower income borrowers are being disproportionately impacted by interest rate hikes: the family income required to qualify for the average loan in Australia is now 32% higher than 18 months ago.
Read MoreLoanscape has today released its Borrowing Capacity Index for Q4/2023. It shows that the borrowing capacities of Australian individuals and families continue to decline. The more modest decline in average loans being taken out points to a shift in WHO are taking out new home loans: family income required to aqualify for the average loan in Australia is 29% higher than 18 months ago.
Read MoreLoanscape has today released its Borrowing Capacity Index for Q4/2023. It shows that the borrowing capacities of Australian individuals and families continue to decline.
Read MoreThere are a few ways to structure your home loan repayments. Finding the best option may save you time and money on your mortgage. Here is some information to help you choose the repayment structure that works best for you.
Read MoreOn the 1st of July, the Australian Government made 10,000 new places available under the First Home Loan Deposit Scheme, the New Home Guarantee and the Family Home Guarantee, respectively.
This totals to 30,000 new scheme places released to support Australians buying a home. Under the First Home Loan Deposit Scheme and the New Home Guarantee, you can purchase a property with a deposit of as little as 5% without paying lenders mortgage insurance (LMI), which would be typically required for deposits under 20%.
The newly announced Family Home Guarantee lowers the deposit required to 2% without paying LMI for single parents with dependent children, regardless of whether or not you’re a first home buyer.
This is because the federal government guarantees the remaining value of a 20% deposit to the participating lender. There are over 30 participating lenders in the scheme through whom the scheme places are made available.
These spots are likely to be filled within a matter of months – so if you’re interested, it’s a good idea to reach out to your mortgage broker soon. But first, make sure that you meet the eligibility criteria below.
Read MoreLoanscape is your information resource about lending and property.
Combined dwelling values have re-accelerated across the nation in February, with all mainland capitals soaring in value. It probably comes as no surprise that Perth claimed the top spot by gaining a whopping 1.8% for the month
Loanscape has today released its Borrowing Capacity Index for Q1/2024. It shows that the borrowing capacities of Australian individuals and families continue to decline. The more modest decline in the size of average loans being taken confirms that lower income borrowers are being disproportionately impacted by interest rate hikes: the family income required to qualify for the average loan in Australia is now 32% higher than 18 months ago.
The end of the year is fast approaching, with most capitals experiencing a strong recovery on dwelling values from the downturn that culminated at the start of 2023.
The recovery is mainly due to an influx of immigration and constricted supply, which the Government is trying to remedy with its ambitious goal of building 1.2 million homes by 2029 through HAFF.
In this months report, the $10bn Housing Australia Future Fund (HAFF) has finally passed the Senate after the Labor Government struck a deal with the Greens to add another $1bn for public and community housing. The HAFF plans to build 30,000 social and affordable homes in the next five years; though, national spokesperson for Everybody’s Home, Maiy Azize says it won’t solve the existing “shortfall of 640,000 homes”.
In this months news, CoreLogic’s Mapping the Market tool shows rent values rose in over 90% of Australian markets over the last 12 months, with Adelaide and Perth’s suburbs topping the list.
In response, the National Cabinet has introduced new measures to counter the rising housing crisis, including a New Home Bonus, a Housing Support Program and a National Planning Reform Blueprint.
It has also agreed to A Better Deal for Renters, which will streamline renters’ rights across the nation with consistent policies for eviction grounds, rental standards and limits on rent increases.
Loanscape has today released its Borrowing Capacity Index for Q2/2024. It shows that the borrowing capacities of Australian individuals and families have stabilised after the sharp decline over the past 2 years. Lower income borrowers continue to be disproportionately impacted by interest rate increases: the family income required to qualify for the average size loan in Australia is 35% higher than 2 years ago.