Top Stories in Australian Home Ownership April 15, 2018

Today’s trending stories in Australian home ownership and Home Loans.

  • Kings Cross cashes in on well-heeled demand as media vereran Steve Askew scores $10 million buyer for penthouse
    As Kings Cross closes the doors on its strip joints and nightclubs, well-heeled locals can at least console themselves that their real estate is scoring top sales among Sydneys corporate elite.
    Ask media veteran and cryptocurrency boss Steve Askew, who after about four years on and off the market seeking a $10 million buyer for his penthouse in The Elan has done just that, and for well above the asking price.
    The result is more than double the $4,045,000 Askew paid for th…
  • The Sydney suburbs where auction clearance rates have dropped in 2018
    Not a single region in Sydney has been immune to the effects of recent tightened lending restrictions and a record increase in housing supply.
    Some homeowners who last year could have sold anything with a roof over it, are now struggling to sell homes even in highly sought-after locations around the city.
    Since February this year, auction clearance rates in Sydney have fluctuated between about 51 to 63 per cent, but some sellers in pockets of Sydney have felt the effects more ac…
  • Tiny loft apartment in Ascot Vale sells at auction for $370,000
    A tiny loft apartmentmeasuring just 30 square metreshas been snapped up at auction by an aspirational developer who dreams of extending upwards and adding another storey.
    The triangularstudio in Ascot Vale was a rare listing, not only because of its cosy sizebut alsobecause it came on one title, with no body corporate fees.
    It was one of 713 properties scheduled to go to auction in Melbourne on Saturday. By evening, Domain Group had recorded a clear…
  • Barefoot Investor: If you're not paying for the product, you are the product
    TAM AND CHRIS ASK: My wife and I sat down with a mortgage broker, who suggested we refinance to a fixed-rate loan. … tight, I’d suggest putting your energy into getting the cheapest variable rate loan you can, and using the lowest rates in history to knock a huge chunk of debt off your home loan.
  • NAB Cuts Variable Mortgage Rates
    NAB has introduced a new variable interest rate owner occupied mortgage product with an interest rate starting at just 3.69% for customers who … to the Banking Royal Commission that NAB managers were accepting bribes to process fraudulent home loan across a number of branches in Sydney.
  • The secret forces controlling house prices
    Global investors and foreign central banks are now a big part of what drives house prices. What happens in New York City, London, Tokyo, Beijing and Shanghai is now changing the prices of homes in Australia. Increasingly, house prices have become determined at the global level, the IMF says.