While many first home buyers might feel thwarted by escalating property prices in some capitals, plenty are still taking the plunge, spurred by low interest rates and the great Australian dream of owning your own piece of turf.
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A record 101,000 properties — or around one in five of those put on the market in Australia last year — went to auction1. And while clearance rates vary between markets, there is no denying plenty of buyers are willing to go head-to-head with the hammer.
Whether you think it’s a necessary evil, believe it makes the world go round or wish it grew on trees — money is an essential part of life. Take our quiz to test how much you really know about your money and how it can work for you.
The best things in life are free, especially when money is up for grabs. From government benefits to special grants and shopping rewards, there is plenty of funding available if you know where to look. Here’s our guide to help you cash in. Additional rules and restrictions apply in all cases (and are subject to change). Detailed information about eligibility and participation rights can usually be found online on the provider’s website.
They claim you don’t really know anyone until you live with them – and the same could be said for tenants. You won’t really know what they’re like until they move in.
For most households July 1 dawns with barely a cross on the calendar. But just as January 1 prompts many of us to take a pulse check on our health and resolve to do better, the new financial year is the perfect time to take stock of our fiscal fitness.
Up until a year ago credit reports for individuals in Australia worked on the basis that good news was no news. In other words, credit reporting only looked at the negatives, highlighting financial failings – such as defaults on loans and bankruptcies – without any acknowledgment of fiscal achievements.
If securing your first home, stepping up to something better or securing an investment property is on your to-do list for 2015 then it may be in your interest to maximise your borrowing power. Understanding how much you can borrow will help you make critical decisions, especially when it comes to what to buy and when.
More Australian families are moving in with parents or in-laws in a bid to stake their claim in the property market and save everyone a bundle along the way. Multi-generational housing has risen by more than 60 per cent over the past three decades, according to a 2013 report by the University of NSW City Futures Research Centre.
After 18 months of record low interest rates, many Australians are wondering what’s in store for 2015. With the official cash rate so low, is it a case of what goes down, must go up? Or can we expect the interest savings to continue into the year?