|February 2008||News Article|
Housing faults can become mortgage busters
Home buyers flying blind on housing faults could find the unexpected and unbudgeted costs could ultimately become a mortgage buster, according to Archicentre, the building advisory service of the Royal Australian Institute of Architects.
Householders warned over dodgy guttering
Thousands of new homes have dodgy guttering that does not comply with standards, according to a whistleblowing plumber and his builder brother.
Green garden plan revamped
An ACT Government program that subsidises Canberrans to use less water in their gardens has been improved.
New housing shortage set to continue this year
The shortage of new housing is expected to continue this year, according to the latest Housing Industry Association survey.
Rents to rise irrespective of rates
Expect rents to continue to go up, irrespective of whether interest rates go up.
Tax relief for ACT home owners and buyers
ACT home owners and buyers can expect some tax relief in the next Budget after projections of large surpluses this year and subsequent years.
ACT land scarcity set to continue
Land is expected to remain scarce in the ACT despite 2000 blocks being released in the past six months.
NSW developers want approval by default
NSW developers say that if councils do not approve plans by a given time they should be deemed to have been approved.
New lending for homes flat
Home lending for owner occupiers was effectively flat in December last year, dragged down by a further weakening in lending to build and purchase new homes.
Turnbull calls for axing of mortgage stamp duty
State stamp duties on mortgages should be abolished, according to Opposition Treasury spokesman Malcolm Turnbull.
Mortgage repossessions rare in the ACT
Home repossession due to mortgage default is rare in the ACT and falling, according to the most recent figures made public today (10 February 2007).
Find-a-tradie site launched
Finding a conveniently located tradesperson has become easier with the launch of the Housing Industry Association's web-based Tradebuild business directory.
CBA goes higher than the Reserve on rates
Australia's largest home lender, the Commonwealth Bank, lifted its interest rates 0.3 per cent today (6 February 2008) after the Reserve Bank of Australia raised the cash rate by 0.25 per cent yesterday.
ACT units boom as prices rise
After a slowdown in 2003-2005, developers are now pushing ahead with apartment building in Canberra.
Reserve Bank should have held fire
The Reserve Bank should have held its fire before increasing interest rates, according to the Housing Industry Association.
House prices up despite rates
House prices rose strongly in 2007 and are expected to continue to rise, even if the Reserve Bank of Australia puts up interest rates.
Mortgage stress set to rise to 40 per cent
If interest rates rise by half a percentage point this year 40 per cent of mortgagees will be in financial stress, according to the Mortgage Industry Association.