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CoreLogic’s dwelling value results for July are out at the 5-city level, with values falling 0.83% over the month, driven by Melbourne and Sydney: Read full article at: x Australian property values dive 0.8% in July - Mac... CoreLogic’s dwelling value results for July are out at the 5-city level, with values falling 0.83% over the month, driven by Melbourne and Sydney: It was the third consecutive monthly decline:There ... www.macrobusiness.com.au

Over half (56.7%) of those surveyed predicted that property prices would fall over the next 3–6 months. Of these, the vast majority (43.3%) anticipated an average fall of 20% or less, whereas a smaller share (13.4%) expected price falls of over 20%. \ Get details at: x Half of Aussies expect property prices to fall - M... Budget Direct has released research into consumers’ confidence towards the property market in the wake of COVID-19. Over half (56.7%) of those surveyed predicted that property prices would fall over... www.macrobusiness.com.au

According to the group, the volume of rental searches on realestate.com.au is up 38.5 per cent. This comes in spite of national rents falling by 1.3 per cent over the last quarter. “Nationally, the cost of renting is now back at levels last recorded in March 2017,” REA Group director of economic research Cameron Kusher said. “Not only are people searching more, the volume of high-intent activity on the rental section of realestate.com.au is also up by 74.5 per cent over the same period.” “Rental rates are coming under pressure from multiple sources. We have virtually no migration, there is new stimulus encouraging purchasing from first home buyers who otherwise may have been renters, and then there’s the fact that unemployment is rising, and younger people are most affected,” he said. Source:x Rental searches up 39% Despite new data showing that national rents fell over the last quarter, prospective tenants are increasingly looking for a home, REA Group has found. www.smartpropertyinvestment.com.au

New results collated by Canstar have shown that Homestar Finance has taken home loan interest rates to a new record low by introducing a one-year fixed rate of 1.98 per cent (2.51 per cent comparison rate). The new fixed rate is available for applications submitted by 30 September and settled by 31 December 2020. The move comes one month after rates first fell below 2 per cent. Tasmanian customer-owned bank Bank of Us was the first to introduce a fixed rate at 1.99 per cent on 30 June, and loans.com.au introduced a variable rate of 1.99 per cent on 22 July (an intro rate for 12 months). The lower rates also come with the condition that the investor can find the necessary funds themselves. There is no option for a guarantor – be it a family member or not – to assist with the loan deposit or to provide their own security for the loan. “There’s no denying that this is an impressive rate, but when rates get this low be sure to check if additional fees and charges apply as this can increase the effective rate,” Ms Zahos said. Ms Zahos said it is important for consumers to continue to look for the best rate, with small changes saving thousands of dollars. Source: x What is the lowest mortgage rate? With financial institutions fighting for new business, new and existing mortgage-holders could get a rate beginning with 1 if they are willing to shop around, an industry expert has advised. www.smartpropertyinvestment.com.au

First homebuyers are being urged to capitalise on a raft of government grants and support after further stamp duty incentives were introduced earlier this week. The NSW government announced Monday that stamp duty will be temporarily scrapped for first homebuyers purchasing newly-built properties worth up to $800,000. Stamp duty will also be heavily discounted for new homes priced up to $1 million for a period of 12 months. “The government is forecasting that this change will assist more than 6000 first homebuyers, which have traditionally been under-represented in the NSW market, particularly in Sydney,” Mr Bare said. Source: x Multiple grants are giving first homebuyers a gold... Market forces and a raft of government support packages have made it the ideal time for Sydney’s long frustrated first homebuyers to be hunting for property, housing pundits claim. www.realestate.com.au