Budgetâs housing gift for single parents Single parents will need a deposit of only 2 per cent to buy a house through a federal budget strategy designed to get more people into their own homes.
Home & Decorating by James Campbell
Premium Content
Subscriber only Single parents will be big winners in the federal budget on Tuesday, with the government to introduce a scheme that will get them into the property market with just a 2 per cent deposit. The government will on Saturday release a three-pronged strategy to boost home ownership rates, with a focus on getting more single mums into their own homes.
Budgetâs housing gift for single parents Single parents will need a deposit of only 2 per cent to buy a house through a federal budget strategy designed to get more people into their own homes.
Home & Decorating by James Campbell
Premium Content
Subscriber only Single parents will be big winners in the federal budget on Tuesday, with the government to introduce a scheme that will get them into the property market with just a 2 per cent deposit. The government will on Saturday release a three-pronged strategy to boost home ownership rates, with a focus on getting more single mums into their own homes.
Budgetâs housing gift for single parents Single parents will need a deposit of only 2 per cent to buy a house through a federal budget strategy designed to get more people into their own homes.
Home & Decorating by James Campbell
Premium Content
Subscriber only Single parents will be big winners in the federal budget on Tuesday, with the government to introduce a scheme that will get them into the property market with just a 2 per cent deposit. The government will on Saturday release a three-pronged strategy to boost home ownership rates, with a focus on getting more single mums into their own homes.
Mortgage Business
Loan commitments break $30bn mark: ABS By Malavika Santhebennur 05 May 2021
New loan commitments soared to a record high in March, driven by a surge in investor lending, which accounted for more than half the increase, according to new data.
The Australian Bureau of Statistics’ (ABS) lending indicators data for March 2021 has revealed that new loan commitments for housing rose by 5.5 per cent (seasonally adjusted) to a new record high of $30.2 billion.
The ABS attributed the rise in housing loan commitments in March to investor lending, which it said accounted for more than half of the increase.
The value of new loan commitments for investor housing rose by 12.7 per cent to $7.8 billion in March (seasonally adjusted), and 54.3 per cent higher than in March 2020.
Interest rates have never been lower, meaning that with enough toil and thrift it should be dead easy to pay off a mortgage.
Yet home prices across Australia have gone through the roof and, for most, the dream of purchasing is increasingly elusive.
According to comparison site Finder, aspiring owners need a six-figure deposit just to get their foot in the door.
Eleven per cent of them would need more than a decade to scrape together the required amount, a survey of 1,028 first-time buyers found.
The dream of many residents of owing property in NSW (pictured) is becoming unattainable due to house prices