Today’s trending stories in Australian home ownership and Home Loans.
- Discounting on Sydney properties at highest level in years, with price drops biggest on the lower north shore
In a bid to secure asale in a cooling market, Sydney homeowners are discounting their properties at their highest level in five years.
Across thecity, the average discount vendors accepton originally advertised house pricesreached 6 per cent over the latest quarter the largest markdown inprices since April 2013.
The average discount accepted for Sydney units, now at 5.5 per cent, is also at its highest rate in five years.
- Chilly reception for the first weekend of winter as Rosebery house leaves bidders cool
As thechilly winds of winter blew through the first auction Saturday of the season, there were no bids at all on a magnificent near-new house that was expected to smash price records for the fast up-and-coming eastern suburb of Rosebery.
A shivering crowd of nearly 100 gathered outside the four-bedroom property to watch auctioneer Damien Cooley calling twice for bids from the three registered bidders who stayed silent before finally setting it aside.
- Why Banks and Government Want High House Prices
Australian banks don’t want to see a decline in house prices. … leads to higher unemployment, mortgage defaults and, potentially, a banking crisis.’.
- Online only lenders offer huge savings compared to major banks, data shows
The results showed someone with a $350,000 mortgage could save more than $82,000 over a 30-year loan term by going with the lowest online…