Millennials call for more housing regulation
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A survey has revealed that almost three-quarters of Millennials said they believe the housing market needs more regulation to slow property prices.
The Borrower Sentiment Index for the June 2021 quarter released by homeloanexperts.com.au has revealed that 70 per cent of Millennials said they believe the housing market requires more regulation to keep a lid on property prices.
In addition, 40 per cent of Millennials surveyed said they believe that the support should come in the form of first home buyer (FHB) schemes, while 30 per cent said they thought the regulations should target property investors.
Sydney, Melbourne home prices tipped to rise more than 20 per cent
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One of the nation’s biggest banks is tipping Sydney and Melbourne property prices to rise more than 20 per cent by the end of next year while warning first-time buyers are reaching their financial limits.
A National Australia Bank report led by chief economist Alan Oster is predicting home values will continue to surge this year, despite outbreaks of coronavirus plunging major cities back into lockdown. This would see Sydney home prices up 21.6 per cent this year before decelerating to 3.1 per cent growth next year, pushing the median dwelling price up by more than $220,000.
A home loan expert on the most important things first homebuyers should do when purchasing in capital cities businessinsider.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessinsider.com.au Daily Mail and Mail on Sunday newspapers.
Mortgage Business
WA confirms Keystart income limits for FY22 By Annie Kane 12 July 2021
The state government has confirmed that it will continue with its current income limits for the Keystart home loans scheme for another year.
Keystart, which launched in 1989 as an initiative of the WA state government to help lower-income families purchase affordable houses via low-deposit loans with no lender’s mortgage insurance (LMI), has confirmed that it will be using its current income limits for another year.
Last financial year, the state government increased income limits to enable more borrowers to access the loan scheme.
While these limits were originally scheduled to end on 30 June 2021, the McGowan government has now confirmed that they will remain in place for this financial year (ending 30 June 2022).
RBA delivers first rate decision for FY21/22 theadviser.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theadviser.com.au Daily Mail and Mail on Sunday newspapers.