The Family Home Guarantee Scheme is an Australian Government initiative announced in the 2021 federal budget to assist single parents enter the property market with a deposit as low as 2% and avoid paying lenders mortgage insurance.
Australian housing values are currently increasing at the fastest rate in seventeen years with February values across all states, averaging a 2.1% increase. The Australian market hasn’t seen an increase this high since August 2003.
Interest Rate Reductions – On Tuesday 3rd November, the Reserve Bank of Australia announced a reduction to the Australian cash rate of 0.15% bringing the new cash rate to a record low of 0.10%.
A $25,000 HomeBuilder Grant for Australians looking to build a new home or substantially renovate an existing home was announced today, Thursday 4th June 2020. The Australian Government have designed the program to assist the residential construction market by encouraging the commencement of new home builds and renovations.
Banks support for customers impacted by Coronavirus. Australia’s lenders have developed clearly defined financial relief strategies to support customers financially affected by the Coronavis pandemic.
On Tuesday 3rd March, the Reserve Bank of Australia announced another reduction to the Australian cash rate of 0.25%. This is the fourth reduction since June 2019 bringing the new cash rate to a record low of 0.50%.
Erskine Park is located 42 kilometres west of the Sydney CBD in the local government area of Penrith City Council. Currently the median sales price of houses in the area is $709,400, with 81.3% of homes being owner occupied.
The First Home Loan Deposit Scheme is an Australian Government initiative to assist eligible first home buyers get into the home ownership market with a deposit as low as 5% and avoid paying lenders mortgage insurance.
A deposit bond is like a financial guarantee to the vendor for the 10% cash deposit normally paid when exchanging contracts to purchase a property. In instances where a purchaser does not have the full 10% deposit required to exchange contracts, they provide a deposit bond as a cash substitute, no money actually changes hands until settlement.
On Tuesday 1st October, the Reserve Bank of Australia announced another reduction to the Australian cash rate of 0.25%. This is the third reduction in 5 months bringing the new cash rate to a record low of 0.75%.