The latest Australian Bureau of Statistics (ABS) data has revealed that borrowers refinanced $20.60 billion of loans in August – which was 3.9% lower than the month before but 12.4% higher than the year before.
Why Australian property prices are so high
Find out about the latest updates in finance and loans.
Refinancing jumps 12.6% year-on-year
“Refinancing activity has remained at record highs in recent months, as borrowers continued to switch lenders amid interest rate rises,” according to the Australian Bureau of Statistics (ABS).
Vendors reduce asking prices as property listings rise
In good news for buyers, there’s been an increase in the number of properties listed for sale, as well as an increase in the total number of properties on the market. SQM Research has reported that the number of new listings (i.e. those less than 30 days’ old) in June was 1.6% higher than the…
What you should know about the ‘fixed-rate cliff’
Australia’s mortgage market is experiencing a significant shift, with many homeowners coming off two-year and three-year fixed-rate loans onto much higher variable rates today.
Property Prices have now risen in consecutive months
Find out about the latest updates in finance and loans.
Have you compared your home loan recently?
Did you know that TAG Finance and Loans has a home loan comparison website? We help you to compare 100s of loans to potentially save $1000s and when you’re ready to proceed, we’ll manage the entire application process, saving you time and money.
ATO orders banks to provide data on property investors
Property investors have been put on notice, after the Australian Taxation Office (ATO) said it would scrutinise their tax returns in an attempt to claw back an estimated $1.3 billion in missing taxes.
Have we reached the bottom of the market?
New data from CoreLogic suggests we might be near the end of the housing downturn. Find out more in our latest finance and loans update.
Rental vacancies fall by a staggering 34.2%
The rental market has turned decisively in favour of property investors, with the number of vacant rental properties plummeting by one-third over a 12-month period.
Borrowers refinance a record $19.5bn of home loans
Find out the latest finance and loans updates in this article.
Property prices forecast to rise again in 2023
Find out the latest finance and loans updates in this article.