|August 2007||News Article|
Jobless, homeless man gets $360,000 mortgage
A 20-year-old unemployed, dyslexic and homeless man was given a $360,000 mortgage by a Canberra mortgage broker, according to action taken in the Federal Court this week (week ends 1 September 2007).
Women need more help to negotiate financial minefield
Women, even highly-educated, well-paid women, feel overwhelmed, clueless and fearful about managing their finances, according to the Women’s Financial Literacy Research Report out this week (week ending September 1).
Turnover up, affordability best in ACT: Labor
Sales of residential properties in the ACT rose by 10.9 per cent in the year to July 2007, according to a report based on actual monthly sales data collected by the ACT Planning and Land Authority.
Planning delays and state taxes under fire
Planning delays and high state and territory charges have again been cited as the main causes of Australia’s housing affordability crisis.
Planning law to help new homes: Labor
The ACT Legislative Assembly has passed the new Planning and Development Act.
ACT looking at tighter lending criteria
The ACT Legislative Assembly began today (21 august 2007) looking at tougher requirements for people borrowing money for a dwelling.
Water, water everwhere, but all those bills do stink
You won't find many landlords who pay for their tenants' electricity or phone bills but in some states owners find themselves paying for their tenants' water use.
Big Canberra real-estate agencies merge
Canberra’s Independent Property Group and Peter Blackshaw Real Estate are to merge to form Canberra’s largest real-estate company.
Inner city growth a myth: survey
The idea that blue-chip inner-city property will always show better capital growth than property in the outer has become a mantra, but it’s a myth, according to a survey by Australian Property Investor magazine.
National rent plan announced
The Federal Labor Party will set up a National Rental Affordability Scheme if it wins office, the party announced today (13 August 2007).
Banks dished out the money, MPs told
A third of home owners say banks offered to advance them too much money for a loan, according to Virgin Money chief executive David Wakeley.
Mortgage ‘Stress-O-Meter’ launched
Fujitsu Consulting launched this week (week ends 11 August 2007) the Australian Mortgage Industry “Stress-O-Meter”, a measure of those segments of Australian society who are under the most pressure to meet mortgage repayments.
Despair over interest rate rise
Today’s (8 August 2007) rise in interest rates will make it that much harder for those Australians battling mortgages and for those desperately trying to enter the market, according to the Housing Industry Association.
Home-owners ignorant of interest rates
Almost half of home borrowers don't know what interest rate they are paying, according to a survey by the by accounting body CPA Australia published today (7 August 2007).
First-home buyers’ grant halved in value
The first-home buyers’ grant is worth about half the value it was at the beginning of decade, according to the first ever audit of housing affordability in centres across Australia released today (6 August 2007).
Rent jump highest for 18 years
Rents went up 1.6 per cent in the three months to June, the highest quarterly rise for 18 years.
Ikea showing the way to affordable housing
Ikea is about to launch its kit homes in Britain, cutting construction costs by more than 40 per cent.
Homes beyond reach because of government
The blame for the housing affordability crisis was put at the foot of government in a report made public today (1 August 2007).