Developers Introduce ‘Preposit’ To Combat Tougher Lending Conditions

What do you do when you need to sell a massive backlog of apartments still on the market due to tightening lending conditions from the banks? You introduce a post pay method for home seekers who are struggling to save for a deposit. First there was Afterpay now there is Preposit! For those of you who aren’t familiar with the concept, Afterpay is a digital service that makes it possible to buy something now and pay it off in fortnightly instalments over a set period of time. Unlike a layby, Read more [...]

It Pays To Be A Good Kid – Tougher Lending Terms & Conditions See Bank Of Mum & Dad Rise 25%

Tougher conditions imposed by banks, rate rises, increased minimum deposits and harsher repayment terms, has seen parental lending increase by 25 per cent to about $20 billion in the past 12 months as reported by the Australian Financial Review, and it’s only going to get worse according to RBA governor Philip Lowe and ANZ CEO Shayne Elliot, who both warned this week that loans will become even more difficult to get after the poor behaviour of banks exposed in the banking royal commission. In Read more [...]

Tensions Rise As Sydney’s Auction Clearance Rate Drops Below 60%

Sydney’s property market saw tensions rise this weekend past with auction clearance rates dropping to 58.1 per cent as reported by Domain, as auctioneers who were confronted by a significant amount of “pass-in’s”, mediated standoffs between prospective buyers and vendors across the city. The clearance rate for Saturday, one of the lowest of the year, was based on 378 reported auctions. However in addition to this, 76 properties were withdrawn, and a further 216 scheduled auction results Read more [...]

What Exactly Does An Agent Do And Do I Need One?

In today’s world of technology, there are many options for selling a home - some including the use of a real estate agent and some eliminating the agent entirely for example by using Purple Bricks. However few actually know exactly what goes into the process of selling a home, or what the benefits of having an agent is. We thought we might shed some light on this and take you through the entire process so you can decide whether an agent is right for you. Why Use A Real Estate Agent  Renowned Read more [...]

Hobart Takes The Lead In Property Demand Booms As Sydney Enters Slump Status

According to Real Estate Australia’s first Property Outlook Report, Sydney has been named Australia's “most challenged city” following a 25 per cent plunge in property demand, whilst Hobart on the other hand is higher than anywhere in Australia. The disheartening news for Sydneysiders is based on the number of realestate.com.au views last quarter compared with the same period last year. Whereas Hobart’s residential property market showed demand in the southernmost capital is double that Read more [...]

There’s Something About Radelaide – Interstate Demand Fuelling Adelaide’s Property Market

  Last month, Property Journalist Andrew Street revealed in a devastatingly candid tale, why his love affair with Sydney had come to an unfortunate end, and how his love of the glistening harbour city had officially turned to “unrelenting disgust”. A bit harsh you might think? Citing many reasons from transport and construction to public safety, Mr Street revealed the final straw was undoubtedly the most predictable - HOUSING PRICES. Specifically, the spiralling rent increases since Read more [...]