Lenders adjusting mortgage rates - Queensland Property Investor
Connect with us

Local News

Lenders adjusting mortgage rates

Lenders adjusting mortgage rates

As speculation builds that a cut to Australia’s cash rate could be arriving in the near future, several of Australia’s lenders have been adjusting their home loan interest rates over the past week.

Beyond Bank has slashed fixed rates across a range of mortgage products, including its Total Home Loan Packages and Pinnacle Plus Packages.

Fixed rates were slashed as low as 3.79% p.a. (comparison rate 4.88% p.a.) for Beyond Bank’s Total Home Loan Package 3-year special, though the most substantial cuts were for its Total Home Loan Package investment loans, which fell 20 basis points to as low as 4.19% p.a. for selected loans (comparison rates: 5.34% p.a. for 1-year fixed, 5.26% for 2-year fixed, and a 5.19% p.a. for 3-year fixed).

Lenders adjusting mortgage rates 1

QBANK also cut fixed rates on a selection of its home loans for owner occupiers and investors, going as low as 3.62% p.a. (comparison rate 4.32% p.a.) for its 3-year Fixed Rate Home Loan Special after a fall of 13 basis points.

The deepest rate cuts from QBANK were for its 4 and 5 year Fixed Rate Home Loans, whose fixed rates fell by 35 basis points to 4.24% (comparison rate 4.46% for 4 year fixed, and 4.43% for 5-year fixed).

Lenders adjusting mortgage rates 2

But not all lenders have been cutting rates – IMB Bank has recently raised variable interest rates on selected principal & interest and interest-only mortgage offers.

Selected interest only loans from IMB Bank saw their variable interest rates increase by 10 basis points across the board, going as high as 6.39% (comparison rate 6.28%) for an interest-only Standard Variable Investment Loan.

Selected IMB principal & interest home loans also experienced rate rises, going up by as much as 65 basis points for the 90%-95% LVR Budget Home Loan, bringing its variable rate to 4.64% (comparison rate 4.70%).

At the same time, IMB Bank cut the interest rate on its Accelerator Home Loan by 50 basis points to 4.17% p.a. (comparison rate 4.72% p.a.).

Lenders adjusting mortgage rates 3

If the Reserve Bank of Australia (RBA) decides to cut the nation’s official cash rate at its next meeting in June 2019, certain lenders could end up dropping their mortgage rates to 3.20% or even lower.

 

 

Source: bloorhomes.com.au

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Local News

Mortgage holders rejoice: Most Qld homes rose in value over the past year

Queensland

HOME values rose in seven of Queensland’s nine subregions in the past year, despite widespread fears of a cooling housing market.

Homes in the suburb of North Lakes in Moreton Bay, which has recorded a rise in home values in the past year. Photo: Glenn Hunt/Getty Images.Source:Getty Images

HOME values rose in seven of Queensland’s nine subregions in the past year, despite widespread fears of a cooling housing market.

It comes as Brisbane is ranked 20th on a global list of cities measuring residential property price growth over the past year, with the city recording above average 3.5 per cent growth.

Research from property data supplier CoreLogic reveals the Sunshine Coast recorded the biggest rise in home values over the past 12 months — increasing 6 per cent.

Queensland

Homes on the Sunshine Coast recorded a 6 per cent rise in value over the past year. Photo: Lachie Millard.Source:News Corp Australia

Homes in Brisbane’s western suburbs increased in value by 4.4 per cent in the same period, followed by Moreton Bay South, with a gain of 2.5 per cent and inner Brisbane with a rise of 2.1 per cent.

Home values in Logan, Brisbane’s eastern suburbs, Gold Coast, Wide Bay, Brisbane’s north and Moreton Bay North also rose marginally.

At the same time, only one of Sydney’s 15 subregions recorded an annual rise in home values.

Queensland

Seven out of Queensland’s nine subregions recorded growth in home values in the past 12 months, according to CoreLogic. Photo: Glenn Hunt/Getty Images.Source:Getty Images

CoreLogic head of research Tim Lawless said that with property values falling across four of the eight capital cities over the past twelve months, it was easy to forget some housing markets around the country were actually seeing relatively healthy and sustainable growth.

Almost half of Australia’s 88 SA4 subregions recorded a rise in dwelling values over the past twelve months.

Regional areas of the country are more likely to be showing positive growth conditions, with 57 per cent of all regional areas recording a rise in dwelling values over the year, compared to only 39 per cent of the capital city subregions.

Mr Lawless said the ‘healthier’ conditions across the regional markets could probably be attributed to more sustainable growth conditions during the growth phase, compared to the likes of Sydney and Melbourne.
Queensland

CoreLogic head of research Tim Lawless, pictured in Sydney.Source:News Limited

“The more sustainable history of price growth has kept a lid on housing affordability and made these markets attractive to migrants, particularly those areas where economic conditions are buoyant,” Mr Lawless said.

“A ripple of demand has been emanating from the largest capitals towards the satellite cities where housing is generally more affordable and lifestyle factors can be appealing.

“Many coastal and lifestyle markets have benefited from a rise in buyer demand, either from those looking for a new residence, second home or investment option.”

Mr Lawless also said many of the hard hit mining regions had now levelled out and were starting to show growth.

He said the data highlighted the diversity across Australia’s housing markets.

“While conditions are broadly slowing, especially around Sydney and Melbourne, many areas of the country are benefiting from a history of more sustainable growth rates, improving demand and reasonably strong economic conditions,” Mr Lawless said.

It comes as Knight Frank ranked Brisbane 20th on its Prime Global Cities Index.

Sydney came in 17th place, Melbourne sits in 21st place and Perth sits in 24th place.

“Despite a cooling mainstream market off the back of tighter lending practices, Australian prime markets continue to experience growth with buyers less impacted by these measures,” Knight Frank’s head of residential research Australia Michelle Ciesielski said.

Originally published as Queensland’s big home value winners

Source: www.news.com.au

Continue Reading

Local News

21 buildings Ipswich owners can’t touch without permission

gold-coast

12

TWENTY-ONE Ipswich homes and buildings have been designated as character places by Ipswich City Council.

The list includes historic homes, pubs such as the Kerwick Hotel and Strand Hotel along with churches, schools and even the Goodna Police residence.

Ipswich planning boss Cr Andrew Antoniolli has outlined to the QT what the new listings will mean for the owners of the buildings now character listed.

“It now means that they are subject to the provisions of the planning scheme as a character place,” he said.

“If they wish to make any alterations they need to come to us and we offer them the assistance of a heritage advisor to help them with those alterations.

“That service is free and it will assist them to ensure the character fabric of the property is maintained so that we don’t see a hodgepodge response.”

13

Cr Antoniolli said the council was “there to help, not hinder” owners to work their way through what could be done.

“And there are a lot of things that can be done,” he said.

“Ipswich has championed the adaptive re-use of many heritage, historic and character buildings.

“A lot of historic buildings in Ipswich have been converted into commercial space, particularly in the inner-CBD area.

“Adaptive re-use is a positive. Some people might see having a heritage home as not being beneficial, but it might be as an adaptively reusable commercial property.”

For those who just have a home not suited to such a re-use there is still the opportunity to do extensions.

“Those extensions will need to reflect the character of the building,” Cr Antoniolli said.

“There is a similarity between the term character and heritage but we have gone with the term character because it has a broader application.

“The heritage consultative committee brought up the proposal of looking at post-war homes and buildings.

“We decided to focus on the 1945 to 1955 period and during that time we also looked at a number of properties which we thought were post-war but we discovered were pre-war.

“Hence the reason we have 12 buildings pre-1946 and nine post-war homes included in the character places of our planning scheme, schedule two.”

 

14

Cr Antoniolli said as time passed, more regard would be given to post-war buildings.

“The post-war period did not see a proliferation of homes and a lot of those built were modest,” he said.

“However, there were some homes that were quite significant in their street appeal and the style and design of some homes at the time was quite innovative.”

Gazing through the list of 21 buildings now character listed, Cr Antoniolli noted the McQueen House at Flinders View which he said was “a very innovative design by an international architect”.

“Duce House and pergola on Brisbane Rd has significant street appeal and is a beautiful home from that post-war era,” he said.

Buildings to be included in schedule 2 – Character places

PRE-1946

  • Blair State School – Blocks B, C and D.
  • Brassall State School – Blocks A, B and C.
  • Dinmore Murri Baptist Church
  • Goodna Neighbourhood House
  • Goodna Police Residence
  • Hebron Gospel Hall
  • Kerwick Hotel
  • Raceview Congregational Church
  • Salvation Army Citadel
  • Former St Andrew’s Presbyterian Church
  • St Joseph’s Primary School Fence
  • Strand Hotel

MID-20TH Century

  • Doyle House
  • Duce House and Pergola
  • Ipswich Kindergarten
  • Jordan Village Pensioners’ cottages
  • Lutvey’s Shop
  • McQueen House
  • Our Lady of the Miraculous Medal Church
  • Rhondda Office and Carport
  • St John’s Lutheran Church

 

Originally Published: https://www.qt.com.au/

Continue Reading

Developments

New student residences for UQ

A $251 million Queensland Treasury Corporation Loan has been approved to fund the student residences Brisbane Investorproject at UQ’s St Lucia campus.

Queensland Treasurer Curtis Pitt said the project was a great investment for the University and for Queensland.

“The construction of the precinct will create around 620 jobs,” Mr Pitt said.

“Once built, there’ll be about 30 ongoing jobs on the site and flow-on benefits for the wider community by having more students living on campus.”

UQ Vice-Chancellor and President Professor Peter Høj applauded the announcement, which enables UQ to consult closely with the community and finalise design and planning.

“This place will offer much more than an attractive living space on one of the world’s most beautiful university campuses,” Professor Høj said.

“It will also support students’ academic success, improve the all-round student experience, and foster skills for advancement in the demanding global contest for satisfying careers.

“It will be home-away-from-home for 1300 students, with around-the-clock pastoral support and security, and easy access to campus sporting and cultural facilities and regular public tra1nsport.

“It will set a quality benchmark for university student housing – particularly in the subtropics.

“UQ is Queensland’s only university ranked in the top 50 of all the world’s universities, and attracts exceptional students from throughout the State, around Australia, and about 130 other countries.

Professor Høj said the residences would have a halo effect for other Queensland institutions that educate international students, adding to Queensland’s reputation as a high-quality, safe and welcoming place to study.

“This space will be ideal for students from regional, rural and remote areas, who will interact with peers from all around the world and forge lifelong friendships and global business linkages.

“After they graduate, many who live and study here will be stalwart ambassadors not only for UQ, but also for Queensland and Australia,” he said.

Wilson Architects + Partners Hill will design the Student Residences Project at the St Lucia campus.

This project continues their longstanding relationship and follows their highly successful collaboration on the multi-award-winning Translational Research Institute (TRI).

‘We are excited about bringing the best of education and residential design to the University of Queensland. Wilson Architects’ extensive experience in education design will be highly complemented by Timothy Hill’s exemplary residential projects,’ said Hamilton Wilson, Managing Director, Wilson Architects.

A priority for the University will be the relocation and expansion of the Margaret Cribb Child Care Centre on a new site on campus, catering for about 150 children – twice the current capacity.

The student residences will encompass sites on Walcott and Hood Streets.

Cairngorm, a former family home built around 1901, will be refurbished and incorporated into the development, and two large fig trees in front of Cairngorm on Walcott Street will be kept.

The University will comply with all relevant environmental and regulatory requirements.

Because 1300 students will live on campus, the project, which is within UQ’s St Lucia campus site development plan, is expected to reduce traffic flows.

Construction is likely to begin in mid-2017, with students moving in at the start of 2020.

UQ has a track record for repaying loans from the State Government ahead of schedule.

 

 

Original article published at www.theurbandeveloper.com by Staff Writer 1/6/2016

Continue Reading

Positive Cashflow Property

duplex designs, dual occupancy homes

Property Investment Advice

Trending