RESIDENTIAL PROPERTY
THE forecast peak of the fixed-rate cliff has arrived, with the three-month period of where the bulk of an estimated 1.3 million home loans went from low fixed rates to high variable rates...
According to CoreLogic, August marks the peak of the fixed-rate transition period, with the risk of arrears and default still contained to...
Average fixed rates with terms of three years or less bottomed out at 1.95% in May 2021 for owner occupiers, while now average variable rates for...
The the average loan size in May of 2021 was at $549,498 on a 30-year loan term, representing an increase in monthly home loan repayments from...
Housing credit in arrears is still extremely low, sitting at 1.2% of outstanding debt. While non-performing credit, made up...
Though total housing repayments in arrears are up from a recent low of 1.0% in the September quarter of 2022, while remaining under...
Increased housing costs when combined with a higher cost of living sees pressure mounting on mortgage customers...
While late repayments only make up a minor share of outstanding housing credit, this is not necessarily an up to date measure of mortgage stress...
Growth in the CoreLogic Home Value Index has slowed from 1.1% in June to 0.6% in July, with the clearance rate to the end of...
This was an unusual trend, because new listings have historically trended lower through July, amid a seasonal winter slowdown...
“The trend has been especially notable in Sydney where new listings have moved 7.6% higher through the month, and in Melbourne where new...
Increasing new listings are partially a result of more motivated selling from owners struggling to keep up with rising mortgage repayments...
“However, there could be other reasons for an out-of-season uplift in new listings. As we have noted previously, new listings activity has...
While with home values returning to a growth trend in the last five months, some owners may be looking to sell where they would have...
Some may also be looking to get ahead of the upcoming spring market where competition among vendors will likely be more intense...
“Overall, it seems official data on mortgage stress has not seen a blow out in arrears amid the expiry of low fixed-term loans. As home values rise...
“However, as what is likely to be the last of the RBA’s rate hikes is passed through to households with a mortgage, there may be a mild deterioration in...
“The good news for mortgage holders is that this period of economic slowdown will also take the RBA closer to its long term inflation target...