Top Stories in Australian Home Ownership May 7, 2018

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

  • Households in mortgage stress continued to rise in April
    Across Australia, more than 963,000 households are estimated to be in mortgage stress, according to Digital Finance Analytics’ Mortgage Stress Update for April 2018. This was a major increase from March’s 956,000 households. This equates to 30.1% of owner-occupied borrowing households.
  • Stiff competition between first-home buyers for homes under $600,000 pushing prices up
    Value-hunters were thick on the ground in Melbournes weekend property market as dozens of prestige residential buyers tried to pick up $2 million-plus homes on the cheap.
    Other buyers swooped on sub-$800,000 properties, with first home buyers showing greater confidence at auctions in many parts of the city.
    With house prices in Melbourne slowing significantly over the March quarter, the cooler conditions are now providing opportunities for new buyers.</p…
  • Auctions in Sydney a ‘dog’s breakfast’ with sale results unpredictable
    Sydneysiders are confronting a dogs breakfast of a residential property market that is tossing up highly volatile results, market observers say.
    Although Sydneys more expensive inner-city suburbs continued to generate the best results for vendors at the weekend while outer areas were weaker, higher-priced locations can still produce very mixed results.
    At the weekend, the citys preliminary auction clearance rate improved, rising to 62.3 p…
  • Mark Bouris throws support behind long-term leases for Australian cities
    He made his fortune selling home loans, but now Mark Bouris is advocating a change to tenancy laws, saying the government should aid the introduction of long-term leases.
    Bouris said Australian cities including Sydney and Melbourne need a rental system for tenants similar to Paris or New York, where long-term leases can typically last for decades.
    I think we could end up there, maybe not right at the moment but we will end up there, he said. &ldq…
  • Households in mortgage stress continued to rise in April
    More than 20,000 of these households are in severe stress, according to Digital Finance Analytics