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The right way to help family buy property
It is the season for gift giving. Are you considering jointly buying a house with family members to help them get a foot into the property market? If so you need to consider the capital gains tax (CGT) implications before entering the arrangement. Sometimes parents take joint equity in a property where their children live. This means that the parents and the child are joint owners of the property but... [Read more]
News Flash – Rates on hold again
Interest rates remain on hold at 4.5 per cent for September. The outcome of the Federal election has several forecasters predicting there will not be another rate hike until 2011. Consumer confidence in Queensland and Western Australia has plummeted since Labor formed its minority government. This indicator has led to many experts believe the expected December rate rise to move to early next year. Those... [Read more]
News Flash – the rate debate
Interest rates remain on hold again this month. However the predictions continue that by the end of this year there will be at least another 25 basis point rise, which would take the official cash rate to 5.00%. There is some speculation that may occur in August. With the pending threat of further rate rises many people consider jumping into fixed rate home loans in order to ‘beat the rise’. If... [Read more]
News Flash – A Rate hiatus?
Once again the RBA lifted the official cash rate another 0.25 per cent. The official cash rate now stands at 4.5 per cent. The RBA has acknowledged the impact of these rises on household spending and a decline in borrowing. It is probable that in June rates may be left on hold, but for how long depends on several factors. Some analysts believe that rates may rise again by August, other predict December... [Read more]
Financial stress growing
While no official figures are kept on ‘financial stress’, Fujitsu Australia regularly surveys 26,000 home owners to understand the pressures they are under. Recent surveys have revealed that 40% of first home buyers are currently under mortgage stress. That is expected to reach 50% by the end of the year as interest rates continue to rise. In the past 18 months affordability issues have begun... [Read more]
