The decision by the State Government to remove the stamp duty home concession will flatten the struggling Queensland residential property market and cost homebuyers thousands of dollars, according to the Real Estate Institute of Queensland (REIQ). The government announced today that from 1 August the concession which non-first home buyers receive when buying a new [...]

A new report debunks scare campaigns that Australia is going alone on climate change and backs the government’s ETS plan, Treasurer Wayne Swan says.The Productivity Commission report puts Australia in the middle of the pack in terms of nations tackling climate change, putting paid to criticism that the Gillard government is going it alone. The [...]

When downsizing you’ll lose space, but there’s no need to cut back on comfort or style in your new home. Move My Home asked three experts in decor, design and decluttering for their best advice when moving to smaller living quarters.Di McKenzie of Interiors Intoto in Mosman believes it’s vital to be aware of the [...]

Regional differences are emerging in the Australian housing market, with some regions reporting price rises and others seeing values decline.Sydney and Canberra are seeing real estate values continue to climb, but those in Perth and Brisbane falling, according to the latest house market index.In addition, the figures show that cheaper properties are selling better than [...]

The Mortgage & Finance Association of Australia has urged the government to rethink its controversial ban on mortgage exit fees after the Australian Bureau of Statistics released figures showing competition was further drying up in the crucial financial sector.Housing Finance statistics for April were released yesterday (June 8th) showing a further reduction in competition in [...]

The price of luxury properties in Australia could fall for up to three years with some having seen drops of 20% since January as expensive suburbs become the poorest real estate market performers.The near double interest rate rise in November last year has hit Australian capital city property values which are down 1.2% in the [...]

THE executive chairman of home lender Aussie, John Symond, has warned the government’s proposed ban on exit fees could force out smaller lenders and lead to a fresh wave of consolidation.There are also warnings that the move could unwind the reforms from the 1983 deregulation of the financial system.Mr Symond has written to federal Treasury [...]

The leaders of the mortgage broking industry and non bank sector have joined forces to run full-page advertisements tomorrow in the national press as part of a bid to appeal to the common sense of firstly Federal Senators and then Treasurer Wayne Swan over the proposed ban of exit fees.The ads are headed “Exit fee [...]

Be sure you understand all the implications of home-equity loans. ‘Gwen” was in a predicament. The reverse mortgage she acquired to pay for home maintenance became problematic when her health began to fail.It reached the point where managing the upkeep of the house was beyond her and she needed to sell. But the mortgage had [...]

Australia is suffering from a housing affordability crisis because of rising interest rates and uncertainty surrounding the Gillard government’s planned carbon tax, the opposition says.Australian Bureau of Statistics data released today showed the number of new homes approved in April fell by 1.3 per cent from the previous month, and now stand 11.5 per cent [...]

The issue of exit fees in loans is not new to lenders and brokers. The Australian Securities & Investments Commission spent most of 2010 devising and perfecting a regime that would control the use of exit fees in lending.This regime came together in November 2010 and was known as the exit fee guidelines, which gave [...]

Homeowners can breathe a sigh of relief as the Reserve Bank today announced it will keep interest rates on hold for another monthThe RBA made the decision to keep the cash rate at 4.75 percent after a slowing economy saw an underlying inflation rate of just 2.4 percent, well within the target band. The decision [...]

When a large bank doubled the official interest rate rise on Melbourne Cup day last year, and passed it on to its mortgage borrowers, the media reacted aggressively.In the aftermath of the bank’s double rate rise, Treasurer Wayne Sawn announced some good initiatives to ensure that there was competition in the mortgage market: a boost [...]

Most economists believe interest rates will remain on hold when the Reserve Bank meets today for the first time since the sharp fall in economic growth.The official rate is expected to remain at 4.75 per cent, despite the RBA issuing several warnings that rates will soon rise. It is the first time the bank has [...]

NSW Premier Barry O’Farrell has backflipped on his plan to slash the subsidy on the solar bonus scheme after he failed to secure support for his retrospective legislation. Mr O’Farrell needed the backing of the Christian Democrats and Shooters and Fishers in the upper house to pass the laws but failed to secure their votes. [...]