Melbourne Property Market Update – August 8th, 2015

By Peter Sarmas on 8 Aug 2015
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Refinancing Will Be The Next Big Thing

As the banks dial back investor lending to meet the speed limit set by APRA, owner occupied loans are becoming the focus. Martin North of Digital Finance Analytics discusses why refinancing will be the next big thing.

Property Investors Still Keen to Buy

A Mortgage Choice survey shows that 54 per cent of potential investors would still go ahead with their plans despite lenders making sweeping changes to their lending policy and pricing.  In this report from Sourceable Industry News we find out why many investors are undeterred by lenders making it harder for them to get finance.

Regulators Bring Legal Actions Against Numerous Property Spruikers

Nearly 20 property spruikers have had various legal proceedings brought against them following an in-depth examination of the real estate industry.  Phil McCarroll of Your Investment Property reports on the announcement from The Queensland Office of Fair Trading (OFT).

Housing More Affordable In Regional Australia

The Housing Industry Association’s affordability index fell by 2.9 per cent to 79.7 in the June quarter, signalling a deterioration in affordability. Why has housing affordability declined in capital cities but improved in regional Australia?

Perth House Prices Fall

The Real Estate Institute of Western Australia said the metropolitan median house price dropped from $550,000 to $530,000 while the cost of units, apartments, villas and townhouses fell from $440,000 to $420,000. Sourceable Industry News reports on Perth’s real estate property market.

The Owner Of Australia’s Richest House Revealed

Who is the buyer of a James Packer’s $70 million Sydney mansion?
The estimated $60-70 million price tag for the Packer pad set the record for the highest price ever paid for a residential property in Australia, topping the previous Sydney record of $52 million paid in 2013 for the Point Piper mansion Altona.


About the Author

Peter Sarmas is a Certified Property Investment Advisor (PIAA) and Vendor/Buyer Advocate. Before becoming the founder of Street News, Peter completed a Degree in Applied Science (Chemistry) and a Graduate Diploma in Property Valuations (Hons). Peter believes property investing is a major and potentially risky undertaking. In his view, everyone should have an independent person acting on their behalf when seeking property investment advice.

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