Laze Spasevski, Author at Australian Loans Group

Home Loan Refinancing Surged

Posted on 09/05/202305/05/2023 by Laze Spasevski

The home loan refinancing boom, which has lasted for two years and counting, surged to record levels. Refinancing activity has dramatically increased during that time from $13.7 billion worth in February 2021 to $16.2 billion in February 2022 and, now, according to the latest Australian Bureau of Statistics data, a record $19.9 billion in February 2023. The refinancing surge started ...
Read More

Property Downturn May Be Over

Posted on 05/05/202304/05/2023 by Laze Spasevski

Property downturn may be over as Australian property prices rose 0.6% in March. According to CoreLogic, property prices rose for the first time in 11 months since April 2022. But while prices increased at a national level, and in Sydney, Melbourne, Perth and Brisbane as well, they did decline in the four smaller capitals. Among the major capitals, Sydney saw the highest increase in prope...
Read More

Good News For First-time Home Buyers

Posted on 25/04/202325/10/2023 by Laze Spasevski

There is good news for first-time home buyers as research from Domain shows that over the past year, it’s become significantly easier to save a 20% house deposit. In order to become homeowners, first-time home buyers must overcome 2 significant financial obstacles. They need to save for a lump sum deposit and they need to keep up with the monthly mortgage repayments. February 2022 data show...
Read More

Housing slowdown – Nearing Its End

Posted on 21/04/202321/04/2023 by Laze Spasevski

The housing slowdown may be nearing its end, according to new statistics from CoreLogic. While Australia’s median property price fell 0.1% during February, values then rose in some markets in the four weeks to March 15: Sydney – up 0.8% Melbourne – up 0.2% Perth – up 0.1% Brisbane – unchanged Adelaide – down 0.4% That said, it’s too early to call the bottom of the ma...
Read More

Property Prices Set To Rise

Posted on 06/04/202321/04/2023 by Laze Spasevski

New data from CoreLogic suggests property prices are set to rise. With that said, we might be near the end of the housing downturn. While Australia’s median property price fell 0.1% during February, values then rose in some markets in the four weeks to March 15: Sydney – up 0.8% Melbourne – up 0.2% Perth – up 0.1% Brisbane – unchanged Adelaide – down 0.4% Tim Lawless...
Read More

Inflation Expected To Fall In 2023

Posted on 18/02/202317/02/2023 by Laze Spasevski

While inflation continues to be worryingly high, it may have peaked and is expected to fall in 2023. The Australian Bureau of Statistics’ latest data shows that inflation rose from 6.9% in October to 7.3% in November. In early December, the Reserve Bank of Australia (RBA) forecast that inflation would "peak at around 8%" in December. If that’s the case, inflation may already be coolin...
Read More

Rise In Construction Costs Slowing Down

Posted on 13/02/202313/02/2023 by Laze Spasevski

Construction costs continue to rise sharply, but the worst is behind us as it appears to be slowing down. Residential construction costs rose 11.9% during 2022, after climbing 7.3% in 2021, according to CoreLogic’s Cordell Construction Cost Index (CCCI). The 2022 result was the largest annual increase on record, apart from the period impacted by the introduction of the GST. However, t...
Read More

Rental Income Rose During 2022

Posted on 08/02/202308/02/2023 by Laze Spasevski

Rental market conditions have strongly favored property investors during 2022 as rental income rose significantly. CoreLogic has reported that the median rent for an Australia investment property increased 10.2% during the year. The city-by-city breakdown was: Brisbane4% Adelaide9% Sydney4% Perth2% Melbourne6% Hobart3% Darwin1% Canberra3% During 2022, the nation...
Read More

Refinancing is at Record-High

Posted on 06/02/202306/02/2023 by Laze Spasevski

Refinancing activity is at record-high levels right now. According to another blog post, there are several reasons why borrowers are refinancing their home loans. The top reason is that owner-occupiers and investors alike are seeking home loans with lower interest rates as the Reserve Bank continues to raise the cash rate. Borrowers refinanced a record $19.5 billion of loans in November, the mo...
Read More

Electric Vehicles Cheaper Are Now Cheaper

Posted on 05/02/202306/02/2023 by Laze Spasevski

Electric Vehicles are now cheaper after the federal government has passed the Electric Car Discount Bill through parliament. The bill removes the 5% import tariff for zero- and low-emission vehicles that are beneath the Luxury Car Tax Threshold ($84,916). The bill also provides a fringe benefits tax (FBT) exemption for eligible cars made available for employees by employers. For a veh...
Read More