The auction clearance rate across Australia's capital cities rose last week to 76.2 per cent, despite the prospect of interest rate rises and job losses.
National Australia Bank is the first of the big four banks to raise owner-occupier home-loan rates, lifting the rate by 7 basis points to 5.32 per cent.
With interest rates at historic lows, and commercial rents on the rise, buying and occupying commercial property has growing appeal, says Fred Nucara, director of Beller Commercial.
Why are Australians so obsessed with interest rates?
The Reserve Bank of Australia left the official cash rate at 1.50 per cent but credit conditions have tightened for investors over recent months, and owner occupiers are wary about rates as the banks move unilaterally, says Shane Garrett of the HIA.
The looming threat of higher interest rates is prompting more mortgage holders to fix rates, says John Flavell of Mortgage Choice.
Australian households are living on a knife-edge, with record levels of debt, record slow wages growth, and the expectation of higher interest rates, warns new research from Digital Finance Analytics.
Mortgage holders should review their home loans after a number of lenders imposed out-of-cycle interest rate rises, says John Kolenda of mortgage broker 1300HomeLoan.
A survey of industry participants shows confidence in the property sector is at a two-year high, despite the prospect of higher interest rates and the slowing trend in building approvals.
Sydney’s property market could look very different in 2017, says Douglas Driscoll, CEO of Starr Partners.
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