This week in property news, lots of new developments but unfortunately still no especially positive news for the market. Let’s dive in.
In regional property markets, Geelong is still going strong, and some areas of the Central West of NSW have also emerged as a popular area to invest in:
Declining Sydney’s decline: Property market remains attractive to investors
Despite the current downturn, one thing that has remained certain is that Aussies still believe in owning property. It cannot be argued that property is one of the best investment opportunities, and a newly created superfund. Superestate, will actually be using super contributions to invest in the property market. A great idea for those who find super especially complex.
Over to bank news, some lenders, including NAB, have cut interest rates:
Lenders cut rates and boost terms to test property bounce
Interestingly though, some are arguing that an RBA rate cut will not benefit the public.
RBA cut won’t mean lower mortgage rates — UBS analyst
Want to know what caused Australia’s housing boom? According to some new reports via Business Insider, it was not population growth, nor over-lending by the banks.
RBA rate cuts fuelled Australia’s housing price boom
Next in news, a Sydney startup, Earnd has raised $2.5 million for app that allows you to get paid early
Whilst this is definitely a helpful idea in some respects, we need to ask why saving has become a foreign concept. In light of the lending restrictions, which one can argue is meant to correct consumers reliance on debt, is an app that allows one to access wages early necessary?
In other news:
Sydney homes sell prior to auction as market observers warn of reduced buyer pool
Goulburn property market boosted by string of high end sales
Spotlight: Why one in 10 Australians opts to live in an apartment
Have a great week everyone!
