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Borrowers Are Refinancing Their Home Loans

Posted on 17/01/2023 by Laze Spasevski

Enormous numbers of borrowers are refinancing their home loans according to the latest data from the Australian Bureau of Statistics. Australians refinanced $17.8 billion of mortgages in October. This is not far off the record $18.6 billion of refinancing that occurred in August. It just shows that the past six months have been the six biggest months in refinancing history. Owner-occupie...
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Property Market Will Rise Again in 2023

Posted on 12/01/202312/01/2023 by Laze Spasevski

In the year to November 2022, the property market has declined but based on SQM Research forecast, it will rise again in 2023. The property market has changed significantly over the past 12 months. In the year to November 2021, the national median property price jumped 22.2%, according to CoreLogic. But in the year to November 2022, prices fell 3.2%. Some capital cities actually recor...
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Breakdown of Property Buyers

Posted on 12/12/2022 by Laze Spasevski

Home loan activity has fallen since earlier in the year, but Australian Bureau of Statistics’ breakdown of Property Buyers shows that first-home buyers have held up better than that of other buyer groups. Between April, when national property prices peaked, and August, the most recent month for which we have data, total home loan commitments fell 13.9%, according to the Australian Bureau of Sta...
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Rents Rising

Posted on 21/11/202223/11/2022 by Laze Spasevski

New analysis has revealed two big reasons why rents, which are already rising steeply, are set to continue increasing. First, the number of properties listed for rent is much lower than pre-pandemic, in both capital cities and regional areas, according to PropTrack economist Angus Moore. So supply has fallen. Second, Australian Bureau of Statistics data show a significant increase in mig...
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Buyers Enjoying More Choice

Posted on 27/09/202229/09/2022 by Laze Spasevski

Buyers are increasingly enjoying more choice, with a growing number of properties listed for sale in many parts of Australia. The number of for-sale properties across the country in July was 0.6% higher than the month before, according to PropTrack. Even better, listings in July were 4.9% higher than the year before, which is the largest year-on-year increase since 2010. &nbs...
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Interest Rates Update

Posted on 09/09/202209/09/2022 by Laze Spasevski

While variable interest rates are continuing to rise, with another 0.50% increase earlier this week, some lenders are actually cutting their fixed rates. Lenders started increasing their variable rates in May, once the Reserve Bank of Australia (RBA) began increasing its cash rate. However, lenders increased their fixed rates much earlier, in anticipation of future rate hikes and ...
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Tax Returns Are Ready

Posted on 07/09/2022 by Laze Spasevski

Taxpayers' tax returns are ready to be lodged, as more than 80 million pieces of information are available in pre-fill. The Australian Taxation Office said much of the information it collects from employers, banks, private health insurers, share registries, and other institutions have now been loaded into people's tax returns. "While having this data ready to go cuts dow...
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FY22 Tax Returns | ATO Warning

Posted on 23/08/202221/08/2022 by Laze Spasevski

The Australian Taxation Office warned small businesses that it will focus on three main areas when assessing the FY22 tax returns. The first area the ATO plans to examine closely is overclaiming on expenses and claiming deductions for private expenses that are unrelated to business income. The second area is the potential omission of certain income streams, such...
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