{SPAC}REAL ESTATE – PRICES – AUSTRALIA

Rough year ahead for housing as rates climb

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Original article by Nila Sweeney
The Australian Financial Review – Page: 31 & 32 : 7-Dec-22

The average standard variable interest rate for an existing mortgage loan will rise to 5.86 per cent after the Reserve Bank of Australia increased the cash rare by 25 basis points to 3.1 per cent on Tuesday. Shane Oliver of AMP Capital says the current monetary policy tightening cycle is likely to peak in early 2023, but he cautions that the negative impact of eight rate rises since May will continue to weigh on the housing market well into next year. He expects house prices to fall by another 9-10 per cent, while the number of distressed sales will rise as more borrowers’ fixed-interest rate loan periods expire.

CORPORATES
AMP CAPITAL INVESTORS LIMITED

High prices foiling first-home buyers

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Original article by Patrick Commins
The Australian – Page: 4 : 17-Jan-20

The number of first-home buyers approved for new loans in November fell by 0.9 per cent, according to the Australian Bureau of Statistics, while the average loan for first-home buyers increased to a record $410,000. ANZ economist Adelaide Timbrell says fewer first-home buyers taking out bigger loans is an indication that rising house prices are making it harder for first-home buyers to get into the property market. She says the ANZ expects an interest rate cut in February, which is likely to push up house prices and reduce housing affordability.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ,{SPAC}AUSTRALIAN BUREAU OF STATISTICS