26 Jun This week’s essential property news: the round-up
What are the biggest topics in property this week? Interest only loans and Sydney getting left behind.
It was barely two weeks ago that the banks (we mentioned this last week) were looking towards cutting interest-only loans as a way of winning buyers in an extremely tough environment.
From 14th June:
Interest-only loans are making a comeback for residential property buyers after increasingly punitive interest rates and tougher terms than rival products. – Big four banks cut interest-only loans to win property buyers
And now, following a report on the 7:30 Report, media is starting to widely report that it is this, in fact, that might lead to a US-style crisis. We’ll follow up in a couple of weeks.
Despite the negative news, we’re not really hearing words like ‘bust’ or ‘crisis’. Alot of experts are still of the mindset that is a slow, and probably less painful process.
This article (from last week) from The Conversation is definitely taking a more drastic stance, but worth a read.
Speaking of Canberra, it seems, along with Hobart, it’s beginning to emerge as a leader in the current property climate. Chinese investment also appears to be strong in Queensland, which could explain Brisbane’s presence in the article above.
Lastly, some handy money-saving EOFY info from The Daily Telegraph: Investment property deductions: how a garbage bin could boost your tax return
Have a great week and hope your EOFY goes smoothly!