Toggle Menu Header

Banks, ACT 2906 Review

Rent

$500
Average price of 3 BR House Updated on: June 2021

School Score

0/10
ACT Suburb School Naplan Rank

Safety Score

0/10
Average crime rate of NSW suburb is 805

Banks School Ranking

Not Available

Trends

Average price of house in Banks have grown around 11.5% in last 3 months.

4.3%
Rental Yield
21.4%
12 Month Growth
95
Number of Sales

Total Populations of Banks

Ratio of Owner vs Renter

Country of birth

Transport in Use

Occupation

Family Composition

Forum

Latest Trending Popular This Month
Raj

Raj

Banks
0 Reply 124 Views 11Mo ago
John

John

Banks
The latest indicator mortgage lending rates from the Reserve Bank of Australia (RBA) revealed that the average discount variable mortgage rate was just 3.65% at the end of September, whereas the average 3-year fixed rate was even lower at just 2.35%: According to RateCity, mortgage rates offered by Australia’s big four banks could fall below 2% if the RBA cuts the official cash rate to just 0.1%: “There are 12 lenders now offering home loans below 2 per cent, and the list is growing by the week, ” she said. “With a possible rate cut waiting in the wings, we could even see a big four bank break the 2 per cent barrier over the next few months”… In April the lowest variable rate across all lenders was 2.39 per cent. In September it was 1.89 per cent – a decline of 50 basis points. The Reserve Bank of Australia has begun providing three-year funding to banks at 0.25% for mortgages. Banks can probably use this money to go below 2% for three-year loans. And that is just the beginning. It started in April with an “initial” funding allowance for banks. Then an “additional” funding allowance. Now there is a “supplementary” one. There is clearly a risk of running out of adjectives to describe the bank funding. But there is no risk of running out of the desire to keep the property market ticking over with low interest rates and oodles of credit. The Treasurer’s announcement last week requesting banks to start lending irresponsibly confirmed that for anyone who still doubted. Source: x Mortgage rates set to tumble below 2% - MacroBusin... The latest indicator mortgage lending rates from the Reserve Bank of Australia (RBA) revealed that the average discount variable mortgage rate was just 3.65% at the end of September, whereas the avera... www.macrobusiness.com.au
0 Reply 201 Views
Sam2019

Sam2019

Banks
A new survey has found that almost half of Queenslanders have had their incomes cut or soon to be cut because of COVID-19, with concern for mortgages now. The Queensland figure (49 per cent) is higher than the national average (45 per cent), according to the results of the research released by financial comparison service comparethemarket.com.au. It asked respondents if they were losing income because of social restrictions, and changes they would make to their finances as a result, including mortgage repayments. Homeowners are rethinking ways to cope with job loss and potential job loss due to COVID-19 restrictions, with banks offering several options now for mortgage support. The survey found that two in every five Queensland respondents (40 per cent) were concerned about meeting mortgage repayments for the rest of the year. Among the measures being taken to cope were families freeing up cash by deferring loan or credit card repayments, accessing cash by withdrawing from their super, term deposits or life savings. Comparethemarket.com.au spokeswoman Abigail Koch said there were hundreds of thousands of Aussies “Hundreds of thousands of people are experiencing financial hardship at this time, with around six million workers expected to receive JobKeeper payments, while many others are uncertain about their financial security. “ “The Government and financial institutions have introduced a range of relief measures to help Aussies under financial pressure, stay afloat during these difficult times.” She said the firm had created a COVID-19 FAQ Hub to cope with demand for information on how the pandemic could affect home loans, credit cards, insurance and a range of other household costs. Source: x Coronavirus: Banks move to stem mortgage fallout -... A new survey has found almost half of Queenslanders have had their incomes cut or soon to be cut because of COVID-19, with concern for mortgages now. See the list of how banks are responding. www.realestate.com.au
0 Reply 296 Views
Royal

Royal

Banks
While no reasonable landlord wants to evict a tenant, one industry professional has flagged that more needs to be done to protect the potential four-fifths of investors who won’t benefit from NSW land tax relief. Ramon Mitchell, the founder and managing director of Gault & Co Property Advisory, has weighed in on the NSW government plan to provide $440 million in rental relief for landlords and tenants across residential and commercial properties, alongside the provision of further clarification around rental agreements and the six-month eviction moratorium. “No reasonable landlord wants to evict a tenant, ” he began. “They realise the current situation has brought rental stress to tenants through no fault of their own, and property owners aren’t keen to see any tenant without a home. Secondly, securing a tenant in the near-term market will be tough, and a vacant property will not help in covering loan repayments or other costs such as maintenance, ” the managing director outlined. He noted that the new guidelines allow tenants who have suffered at least 25 per cent reduction in income – after factoring in all financial support – to approach their landlord and open discussions on rent payment reductions for a set period. “The tenant will still be liable for unpaid rent during the reduction period, but the liability will be deferred, ” Mr Mitchell said. In essence, it means the tenant is not excused from their rent obligations under their lease agreement, with Mr Mitchell highlighting that this news will be of relief to landlords: “Unless both parties agree to waive the lost rent, the tenant will need to pay back the outstanding rent once coronavirus restrictions are lifted.” Details:x Banks still required at rent relief table There’s been a call for the banks to play a bigger role in NSW’s rental relief policy. www.smartpropertyinvestment.com.au
0 Reply 364 Views
No more post available
13 online
Kaye Dutton
Kai Carrieroman
Azhar Noor
Godrej Woodland Plots
Ani Shinde
and more ...