10 Questions to ask a home lender

BUYING a home is stressful enough, without having to assess every single lender and product in the market. Here are 10 questions you should ask potential lenders: 1. What loan will suit me best? Review all the loan features such as whether you can redraw or make extra payments. 2. What is the interest rate? It will be fixed or variable and will determine how much you'll pay over the life of the loan. 3. How much can I borrow? Depending on the lender, you can borrow up to 80-95 per cent of the value of the property. However, you should always consider how much you can ...

Does a soft real estate market spell the end of honesty for estate agents?

In a softening real estate market, the real estate industry, along with its complimentary industries such as building and pest inspectors need to maintain their most professional and ethical standards.

How to snare a bargain property

WEAKNESS in the real estate market has reduced property prices, but finding a bargain still requires research and a businesslike approach by investors. A low price doesn't automatically mean it's a bargain, as other prices in the market may also be lower, but experts say there are several strategies to help buyers get a good deal. "Keep an eye on properties on the market because generally speaking, the longer a property languishes on the market the keener the vendor is to sell," says university lecturer, author and property investor Peter Koulizos.

Great Aussie Dream downsizes as house block areas slashed

THE great Australian dream faces a major reality check, with new home buyers being offered house blocks a quarter the size their parents bought. As developers look to meet a market with more affordable house-and-land options, lot sizes are being squeezed to less than 200sq m for the first time. Back yards, which have been shrinking for decades and in recent times have been swallowed by a pool and deck, may soon disappear. Queensland developers have been closely following the downsizing trend, which has surged in the US since the global financial crisis, and sprouted in Western Australia, South Australia and Victoria. John Thurtell, general manager of Sunshine Coast-based builders PJ Burns, recently returned from a fact-finding mission to the ...

Women doing it for themselves in the property market

WOMEN are increasingly deciding a man is not a financial plan, with a survey revealing that the number of females buying property by themselves is growing. According to lender Rams Home Loans, data shows that almost half the sole home loan applications now came from women, reported The Australian. A shift had been seen in the past 18 months. Before then, about 70 per cent of home loan applications had been submitted by men, Rams said. One woman entering the property market is Kate Beecroft, 24, who late last year purchased an older two-bedroom unit, which she has since renovated, in the south Sydney suburb of Cronulla for $330,000. "I knew the longer I waited, the more prices would ...

House prices dive in massive market fall

House prices down 1.7 per cent in March quarter In year to March, index fell 0.2 per cent - ABS All capitals except Perth, Hobart record falls Biggest home quarterly slump in 12 years AUSTRALIAN capital city house prices fell more than the market expected, led by big falls in Brisbane and Melbourne. The Australian Bureau of Statistics (ABS) house price index was down 1.7 per cent in the March quarter, compared with an upwardly revised 0.8 per cent rise in the house price index for the December quarter. In the year to March, the index fell 0.2 per cent, the ABS said today. ...

Resources boom boon for Brisbane real estate

THE resources sector is driving Brisbane's luxury housing market, with more than 80 per cent of inquiries for properties over $5 million from people working in the mining or gas industry, according to a report by Place Estate Agents. "That is where a lot of inquiry is coming from," chief executive of Place Estate Agents Damian Hackett said. The agency is understood to have two properties worth more than $7m each currently under negotiation by resource-sector buyers. The $3m to $5m price range attracted more people from the medical industry, entrepreneurs and business owners, according to Place, The Australian reports. The report also showed that sales slowed last year in Brisbane's exclusive inner-eastern suburbs, with eight sales more than ...

Children take back seat to real estate plans

Couples put real estate ahead of kids Want house before children Plans delayed as entry cost rises ABOUT one in three Australians are considering delaying plans to start or grow a family as the cost of entering the property market rises. A PRDnationwide survey of 2000 Australians found 34 per cent of respondents were considering delaying having children as house prices increase. PRDnationwide research director Aaron Maskrey says a significant number of couples are postponing starting families ...

After iPhone success, Realestate.com.au goes Android

App allows searching by location, sending links via e-mail and contacting an agent With more than 180,000 downloads of its iPhone app since late last year, real estate portal Realestate.com.au has spread its mobile development further with an app for Android announced today. The company claims the move is a first for an Australian property portal. Realestate.com.au is also in the midst of a significant redevelopment project where its older Perl code base is being phased out by Java and Ruby on Rails. Henry Ruiz, general manager of consumer ...

Monaco sets the pace for pricey pads but Asian cities are moving up

MONACO was the world's most expensive luxury residential market last year for the third straight year because of demand from wealthy buyers in the Mediterranean principality, which levies no personal income tax. Sydney came in at 34 in a ranking of world cities, and when it came to romance, it featured at No 6. For hedonism, it came ninth, The Australian reports. According to a global index of luxury home prices compiled by Knight Frank, a London-based property broker, the average cost of a house or apartment in Monaco was $US65,600 ($63,300) a square metre. Home loans, savings accounts and more London was the second most expensive market at $US56,300 a square metre, while Paris was fifth at $US40,500. ...