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December 2020

Real estate values keep rising, despite pandemic

Median price growth for the month of November ranged from 0.4% in Sydney to 1.9% in Darwin and Canberra.   Over the year to November, prices grew in all capitals except Melbourne.   Canberra’s median price ($672,866) is now higher than Melbourne’s ($672,172), making Canberra the second-most expensive capital city property market, behind Sydney. Peter …

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Be careful with ‘buy-now-pay-later’ this holiday season

The use of buy-now-pay-later services is exploding – and causing some people financial harm. The number of active buy-now-pay-later (BNPL) accounts increased 38% and transactions jumped 90% between the 2017-18 and 2018-19 financial years, according to a report from ASIC. ASIC found that 21% of users who were surveyed had missed a payment in the …

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Record-low interest rates drive a surge in home loan activity

There has been a massive increase in home loan borrowing over the past year, according to the latest data from the Australian Bureau of Statistics. Australians took out $22.5 billion of mortgages in September – a 25.5% jump on the year before. That included increases of: 33.8% for owner-occupiers 4.2% for investors There was also …

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