New suburbs to alleviate housing shortage in Sydney’s West

NSW State Minister Kristina Kenneally yesterday revealed the government’s plan to create new suburbs in Western Sydney area. The state government is planning to re-zone 3300 ha of farms and rural lands in The Hills, Blacktown, Liverpool and Camden. The subdivided land is said to be sold for $200,000 apiece.

As one of the preferred lenders in the Western Sydney area and based in Parramatta, Iden Money welcomes the move and is looking forward to servicing more borrowers to fulfil their home loan requirements.

Looking for home loan specials?

What are home loan specials?

Home loan specials can be considered as promotional offers or packages that applicants could avail when applying for home loans. Although offered by most financial institutions, not all lenders have home loan specials.

Because of the big impact of home loans on the financial situation of applicants, banks and financial institutions have crafted a way by which people could get the best deals when it comes to such loans. Thus, the birth of home loan specials. Read More »

Property Hotspots

Property hotspots: Aim to buy the best property at the lowest price

Regardless of whether you are purchasing property for occupation or for investment, your aim should always be to buy the best property at the lowest price. But don’t just buy it anywhere, suss out the locations that should give you the best long term growth and rents. The combination of buying the best property at the lowest price with the potential for best capital growth should be your minimum requirement when starting your search. Read More »

Housing Affordability in Australia

(This article looks at housing affordability on a national basis, covering data available as at March 2009 and analysing each state and territory individually. Historical data back to 1986 is also included.)

QUESTION:

Why is it that you can buy your dream home in one region of Australia for far less than in another region? Not just in different states but in different regional areas within states?

What drives market house prices? The answer is many things, but a few have considerable influence on the amount of money you have to pay for a house in the area you want to live.  Some major factors are: Read More »

Major bank borrowers paying too much

(source: Herald Sun)

AUSTRALIAN home loan borrowers are paying an extra $2.7 billion a year in repayments because they don’t shop around.

Despite the major banks charging higher interest rates than smaller lenders, about 90 per cent of home buyers still choose one of the more expensive big four banks, according to financial research company InfoChoice.

After this week’s interest rate increases by the major banks, more than 60 other lenders had cheaper home loan rates, the research found. Read More »

New housing boom set to go through the roof

(source: Sydney Morning Herald)

As New South Wales recorded its lowest figures for construction of new homes, developers have predicted the worst is over and the state is on the verge of a housing boom.

Bureau of Statistics data for the three months to March showed the number of new housing starts has fallen to 5400, down from 7500 in the same period last year and 11,000 five years ago. Read More »

Westpac, NAB hike fixed rates

Commonwealth Bank is not the only one to increase is interest rate.  Another two major banks, Westpac and NAB have increased their fixed rate mortgages yesterday.

Effective today, Westpac’s fixed rate loans will rise by between 10 and 50 basis points. The hike will take its three year fixed rate mortgage to 6.59 per cent – just 10 basis points behind CBA, who pushed up its fixed rates yesterday. Read More »

Commonwealth Bank hikes home loan rates

The Commonwealth Bank has moved to lift its lending rates by 10 basis points to offset the rising cost of long term funding.

As of Monday, the bank’s standard variable rate will rise to 5.74 per cent, the bank said today. Read More »

Bad news for first home buyers as ‘mum and dad bank’ closes doors

New research conducted by St George has found about half of all parents with adult children are now no longer willing or able to provide the same level of support to their children as they have in the past.

According to the survey 70 per cent of baby boomers said the financial crisis had eroded their assets’ value while 71 per cent said they were concerned about their financial situation. Read More »

The First Home Owner’s Grant

Buying or building your first home is a very exciting but sometimes nerve-wracking experience. To ensure it is a completely satisfying experience, a lot of planning and checking should go into this very important milestone in your life.

To help with this big task we have set out below some important points to consider to successfully own your own home. These points can be:

How Much Do I Need?

Well it depends on where you want to live and the type of accommodation you are looking for. Read More »