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Rural lending for agribusiness is on rise

Rural loans for agribusiness growing at a rapid rate. With the downturn in the mining industry over the last few years Australia has turned to agriculture to fill the void. Fresh produce in the form of cereal,¬†fruit, dairy and meat exports are on the increase, especially into South East Asia. Because of this growth existing […]

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  • Rob Kelly
  • LOW DOC HOME LOANS

    ABOUT LO DOC HOME LOANS A low doc loan or low-documentation loan is for someone, generally the self-employed, who has difficulty coming up with the necessary documentation required to apply for a traditional home loan. This may include those with a poor credit history or who don’t work full time. Low doc loans traditionally have […]

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  • Rob Kelly
  • DISPLAY HOME LOANS MADE EASY

    At Selectabroker, we have our own mortgage broker panel who specialise in display home loans, not just home loans. You see, building your new display home is very different from purchasing an existing property, which is what makes us different from your everyday financial broker. We can help you choose the appropriate lender and the […]

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  • Rob Kelly
  • Australia’s Mortgage Broker Sector To Keep Expanding In 2013

    The Mortgage Finance Association of Australia (MFAA) expects the country’s mortgage broker sector to witness impressive growth this year, with its share of the lending market seen growing to above 40%, it said on its website. Recently, financial expert Deloitte published its forecast for the development of the country’s mortgage market, pegging the overall home […]

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  • Rob Kelly
  • Australian New Home Sales Rise 6.2% In December

    The Australian housing construction market is poised for recovery, with new home sales rising by 6.2% on a seasonally adjusted basis in December 2012, the third monthly increase in a row, showed the HIA New Home Sales report. In a sign that new construction is accelerating, new home sales rose by 3.3% over the December […]

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  • Rob Kelly
  • Home Loan Defaults Higher In Australian Costal Areas

    Australia’s coastal regions, where tourism is the main cash driver, are more likely to default on home loans, according to the latest research from global ratings service Fitch. Gold Coast East, Sunshine Coast and South West Western Australia are among the 20 regions with the highest proportion of home loans that are over 90 days […]

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  • Rob Kelly
  • Australian Banks Slash Fixed Mortgage Rates

    Several large Australian lenders lowered the fixed interest rates on their home loan offerings in a sign of expected variable rate cuts in the months ahead, the Australian reported on 7 February. Westpac has cut the fixed rate on its two-year premier advantage mortgages by 0.4 percentage points to 4.99%. After the reduction, the rate […]

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  • Rob Kelly
  • Total Of 38% Of Australians Believe RSA Will Raise Rates In 2013

    Over a third of Australians think that the central bank will hike rates this year, which could potentially lead to an increased demand for fixed rate products. A total of 38% of Aussies believe that rates will head upwards in 2013, according to the National Mortgage survey conducted by CUA. Rates will fall this year […]

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  • Rob Kelly
  • Online Portals Pose No Risk To Brokers MFAA Said

    Online portals and the Internet present no threat to the broking industry; these are only tools that potential borrowers use to get initial information about home loans, Phil Naylor, head of the Mortgage and Finance Association of Australia (MFAA), said in response to a local broker’s warning. Naylor’s comment follows an article published in Australian […]

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  • Rob Kelly
  • Australian Housing Market Set To Rebound In 2013, Shows SQM Research

    The Australian housing market is starting 2013 on a positive note, with the residential property listed for sale going down by 1.9% in January from the previous month, a report by SQM Research revealed. The SQM Research, which gauges nationwide housing market trends, adds to a string of recent data touting a long-awaited recovery in […]

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  • Rob Kelly
  • Australia’s Commercial Loans Gain 8.6% In December Said ABS

    Commercial lending registered a solid growth in the last month of 2012, according to data from the Australian Bureau of Statistics (ABS). The value of commercial loans increased by 8.6%, on a seasonally adjusted basis, to $31.9 billion in December 2012, the ABS said on Wednesday. The pick-up follows a 7.7% decline in November 2012 […]

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  • Rob Kelly
  • NAB Joins Australia’s Major Banks In Cutting Fixed Mortgage Rates

    National Australia Bank (NAB) is the latest of the country’s major lenders to lower its fixed mortgage rates as banks seek to expand their loan books and borrowers move to lock in hot deals. As of 14 February, NAB clients will benefit from a one-year package interest rate of 5.09%, down by 15 basis points […]

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  • Rob Kelly
  • Industry Body Calls For Australian Banking Sector Imbalances To Be Addressed

    Abacus, the industry body representing the Australian mutual sector, including mutual building societies and credit unions, on Monday launched a national campaign aimed at addressing the imbalances in the domestic banking sector. The Balance Banking campaign will lobby for a change through a national debate and an independent review of the nation’s banking system aiming […]

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  • Rob Kelly
  • Australian Banks Face Growing Pressure To Axe Mortgage Rates

    Australia’s biggest lenders are under increasing pressure to lower their mortgage rates independent of interest rate moves by the central bank, as their profits from new mortgages reach the highest level in over a decade, The Australian reported on Tuesday. An analysis from UBS estimates that the Commonwealth Bank of Australia (CBA), the country’s largest […]

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  • Rob Kelly
  • Low Fixed Interest Rates Lure Young Aussie Home Buyers

    While in previous years Australian home buyers would go for variable interest rate home loans, now we are witnessing the opposite phenomenon, with locking in mortgage repayments becoming a more attractive proposition. Young Australian first home buyers are setting their foot on the property market with greater confidence thanks to the low fixed interest rates […]

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  • Rob Kelly
  • Australian Home Loans, Prices Record Modest Uptick

    Australian home loans rose slightly in January, according to data collated by the central bank. Home credits edged up by 0.4% in January after adding 0.3% in the previous month. However, the growth still pales in comparison with the 4.4% increase recorded in January 2012. Consumers have reined in spending and borrowing for some time, […]

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  • Rob Kelly
  • Australia’s Rural Property Market Starting To Perk Up

    Australia’s rural property market is starting to show some signs of revival and investors interested in deals with rural land are recommended to take advantage of the uptrend in the market, Colliers International said. Tim Jelbart, rural and agribusiness valuation manager at the specialist marketing agency, talked recently on the sidelines of an investor and […]

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  • Rob Kelly
  • Australian Households Now 14% Ahead On Mortgages

    Australian households have been redeeming more than adequately their home loans and currently they are $160 billion ahead on their mortgages, The Australian reported. Nearly 50% of the three million Australians with a home loan have made use of the unprecedented decline in interest rates to plough more money into paying off their debt and, […]

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  • Rob Kelly
  • House Prices Grow Slightly In Q1 2013 – ABS

    In the first three months of the year, house prices across Australia’s eight capital cities edged up by 0.1% after rising by 2% the previous quarter, the latest figures from the Australian Bureau of Statistics (ABS) revealed. In the 12 months to March, home prices in Australia went up by 2.6%, roughly matching the increase […]

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  • Rob Kelly
  • Home Loan Approvals Growth Proves Better Than Expected In March

    In March, home loan approvals in Australia rose by 5.2% during the month, beating analyst’s forecasts for a more modest improvement of 4%, the latest figures from the Bureau of Statistics have shown. This is the most significant monthly increase in home loan approvals since March 2009, suggesting that the housing sector is heading towards […]

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  • Rob Kelly
  • Australia’s Property Market To See Growth After September Election

    Australia’s property market is set to enjoy healthy growth soon after the country elects its Parliament members in September, an industry player has predicted. Aussie Home Loans entrepreneur John Symond forecasts that the market will continue its recovery later this year, benefiting from the favourable prices and the low interest rates. Symond considers that the […]

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  • Rob Kelly
  • Global Investors Rush To Buy Commercial Property In Australia

    Global investors are steering away from commercial property in the US and Europe and are rushing to buy office buildings in Australia, in order to take advantage of the attractive yields, Bloomberg said in an article. Investors have been buying Australian office properties at the fastest rate since the end of 2011, with prime-office assets […]

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  • Rob Kelly
  • Rise In Home Loan Approvals Fuelled by Upgraders And Investors

    Recent data published by the Reserve Bank of Australia (RBA) showed that since 2009 home loan approvals in the country have been on the rise, fuelled by homeowners’ increasing interest in moving into new homes and by the growing investor demand for mortgage funding, the Property Observer said in an article. Between 2009 and 2013, […]

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  • Rob Kelly
  • New Home Loan Approvals See Modest Growth In April

    The number of new home loan approvals reached 48,475 in April, scoring their highest number in three and a half years, the Australian Bureau of Statistics (ABS) said this week. Month-on-month, the number of new home loans approved edged up 0.8%, failing to meet market projections for a more material increase of 2%. The figure […]

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  • Rob Kelly
  • Melbourne And Sydney Score Strong Auction Clearance Rates Over The Weekend

    Figures from the Real Estate Institute of Victoria show that over the last weekend both Sydney and Melbourne recorded impressive results in property auctions, strongly surpassing the rates exhibited during the previous week’s long weekend. There were a total of 740 properties auctioned in Melbourne that produced a clearance rate of 70%, pointing to one […]

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  • Rob Kelly
  • Low Interest Rates Help Australians Get Ahead On Loan Repayments

    The low interest rates in Australia will continue to assist local borrowers in servicing their loans and better managing debt, rating agency Fitch says in a report seen by news agency Bloomberg. Analysts, led by Hai Duong Le, also expect that this year, the macroeconomic landscape will remain stable as the jobless rate will stay […]

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  • Rob Kelly
  • Lending In Australia Sees Increase In May

    Demand for loans in Australia recorded growth in May, new figures from the Reserve Bank of Australia reveal. In terms of value, credits provided to home buyers advanced by 0.4% in May compared with the previous month, after seeing similar increases in April, March and February. The slight uptick in housing loans brought the annual […]

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  • Rob Kelly
  • Queensland Close To Obtaining $60M In Federal Funding For Farmers

    Queensland is expected to soon strike a deal with the Australian government that could ensure the state with access to $60 million in concessional loan assistance, the Beef Central reports, citing Queensland agriculture minister John McVeigh. McVeigh said he was closer to negotiating the funding with the new Federal agriculture minister Joel Fitzgibbon that could […]

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  • Rob Kelly
  • Low Interest Rates Keep Encouraging Home Buyers In Australia

    The record-low interest rate in Australia contributed to a 1.8% increase in home loan approvals in May, the Australian Bureau of Statistics said earlier this month. As many as 49,636 Australian consumers were granted mortgage approvals in May, up from 48,736 the previous month. The share of property loans provided to first-home buyers rose to […]

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  • Rob Kelly
  • Mortgage Applications Rise 6.9% In Q2

    In the second quarter of the year, mortgage applications in Australia recorded an annual increase of 6.9%, seeing their strongest growth since June 2010. In quarterly terms, mortgage inquiries advanced 1.9%, figures from credit data provider Veda showed this week. The housing market scored its biggest increase in demand in three years, exceeding the overall […]

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  • Rob Kelly
  • House Prices Score Stronger Than Expected Growth in June Quarter

    Figures released this week by the Australian Bureau of Statistics (ABS) show that house prices kept increasing at a higher-than-expected pace in the quarter to June. Analysts project that growth in property values is unlikely to slow down any time soon, the Big Pond News reports. Capital city house prices in Australia advanced 2.4% in […]

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  • Rob Kelly
  • Government To Release $5.9M For Rural Financial Counsellors

    The Australian government is to provide an extra $5.9 million as part of a scheme intended to improve farmers’ financial wellbeing, the Weekly Times Now has reported. The money will go to funding the work of 17 more full-time financial counsellors, who will focus on regions and sectors suffering debt hurdles. They will also help […]

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  • Rob Kelly
  • Investors Drive First-Home Buyers Out Of Australia’s Home Market

    The increasingly low interest rates in Australia are luring a great number of investors into the property market, driving first-home buyers out as a result, The Australian has reported. This has caused an increase in rentals in the country’s capital cities, leading to a record-low percentage of first-home buyers tapping into the market. Meanwhile, residential […]

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  • Rob Kelly
  • Home Loan Approvals Grow For 7th Month In A Row

    The latest figures from the Australian Bureau of Statistics point to the continuing growth of the country’s property market, a trend highlighted by the seventh monthly increase scored in home loan approvals in July. The report reveals that the number of home loans approved went up from 50,983 in June to 52,204 in July. This […]

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  • Rob Kelly
  • Australia’s Housing Market Growth Well On Recovery Track

    The number of home-building permits issued by Australia’s government surged by 10.8% in July compared with the previous month, the latest figures published by the country’s statistics bureau show. The nation’s housing market was given a huge boost by the historic-low interest rates which brought the level of building approvals in July twice as high […]

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  • Rob Kelly
  • Sydney’s Housing Market To See Price Growth Of Up To 20% In 2014

    SQM Research predicts that the revival of Sydney’s home market will transform into a “boom” in 2014, with price growth expected to be more than double the rate seen in Perth, Australia’s second best performer in the residential property market. According to the researcher’s annual Housing Boom and Bust report, the housing market of Sydney […]

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  • Rob Kelly
  • Housing Bubble Fears “Overstated,” ANZ Chief Says

    Concerns that rising property prices will prompt a property bubble are “overstated,” says Philip Chronican, local CEO for Australian and New Zealand Banking Group (ANZ). The jump in house prices observed in the last couple of months has reignited fears of a potential house price bubble, but the truth is that it is just a […]

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  • Rob Kelly
  • Sydney And Melbourne Record Solid Auction Clearance Rates

    It was another promising weekend of auction results for Sydney and Melbourne, with both cities recording strong clearance rates similar to those seen so far this spring, data from Australian Property Monitors (APM) shows. The cities achieved solid property auction clearance rates despite the sporting grand finals taking place in both Victoria and New South […]

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  • Rob Kelly
  • National House Prices Rise 1.3% in Q3 – NAB

    The latest Quarterly Australian Residential Property Survey from the National Australia Bank (NAB) showed a 1.3% rise in national house prices in the third quarter of this year, with growth recorded in all states but Western Australia. New South Wales saw the strongest growth in home values at 1.9%, followed by Victoria with 1.5%. Queensland […]

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  • Rob Kelly
  • Home Prices In Australia’s Capital Cities Continue To Improve

    Home prices across Australia’s capital cities improved by an average of 1.9% in the three months leading to September, keeping the housing market in positive territory for four quarters in a row for the first time since 2010, the latest data from the Australian Bureau of Statistics (ABS) shows. While the growth rate failed to […]

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  • Rob Kelly
  • HOME LOAN GROWTH EXCEEDS ANALYST FORECASTS IN SEPTEMBER

    According to figures released from the Australian Bureau of Statistics (ABS), growth in home loan approval in September rose by 4.4% on a seasonally-adjusted basis compared with the previous month, beating previous analyst projections of 4%. The low interest rates continued to be a force of positive influence, helping the 5.2% increase in the value […]

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  • Rob Kelly
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