First-time buyer schemes are being expanded to ease cost pressures but off-the-plan buyers in Victoria will lose concessions.
There’s good and bad news for homeowners, households and buyers from July 1 as governments and lenders introduce changes that will benefit some buyers entering the market and provide some relief for those struggling with high costs.
Matt Turner, managing director for GSC Finance Solutions, says: “Various government programs will help, but the outlook for the market will depend on what happens with interest rates.”Diana Mousina, senior economist for AMP Capital, which has around $190 billion under management, says: “There’s room to pause hiking rates at the RBA’s meeting next Tuesday but the high level of inflation and increasing wages growth will keep it hawkish.
Two more banks are joining the Home Guarantee Scheme, providing borrowers with more choice. They are Westpac and RAMS Home Loans.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ticketek ditches first come, first served method for 'fair' Taylor Swift presale queueTicketek has admitted the queue for presale tickets to Taylor Swift’s Australian leg of her international The Eras Tour was not first come, first served but maintained it was a fair and equal system.
Read more »
Phones and seat belts targeted with Victoria’s new hi-tech camerasVictorian motorists have been put on notice by police as new hi-tech cameras are introduced. According to the Herald Sun, six moveable cameras will target 70,000 motorists flouting mobile phone and seat belt laws in 200 locations across the state. It follows a three-month trial of the technology where drivers were issued with warnings.
Read more »
Victoria’s corruption watchdog to focus on police misconductVictoria's corruption watchdog intends to crackdown on excessive force used by police officers and misconduct within the public sector during the next financial year.
Read more »
'Major stuff-up': Rollout of Victoria's digital driver's licences hit by email bungleVictoria's long-awaited rollout of digital driver's licences has suffered a major setback after a bungle saw emails sent out with incorrect last names.
Read more »
Victoria defines high-fee schools as those costing over $15,000 in tax war retreatTreasurer says payroll tax will apply to less than 10% of the state’s private school sector – and bring in $100m less than originally budgeted
Read more »