The Australian Prudential Regulation Authority (APRA) told banks to increase the minimum interest rate they use when assessing a new borrower’s ability to meet their loan repayments. The new interest rate is at least 3.0 percent above the usual loan rate. This means that some future applicants will borrow less money. APRA’s objective is to ensure that mortgage lending is conducted on a prudent basis, and that borrowers are well-equipped to service their debts under a range of scenarios.
The NSW Govt has announced changes to the road map this week, which means that if you’re fully vaccinated or have a medical exemption, you can do even more from Monday 11 October.
Eligible residential tenants impacted by COVID-19 who can’t meet their residential rent payments are protected from eviction until 11 September 2021. After September 11, landlords can take termination action for rent arrears if their tenant have not entered into an agreement with them to vary their rent.
As the lockdown continues across Sydney, landlords are able to access support for rent reductions granted to their tenants over the two months from July 14. The financial support by the NSW government is capped at the amount of rent reduction that is passed onto their tenants, or $3000, whichever is lower.
The whole of NSW is now under "stay at home" orders. You must stay at home unless you have a reasonable excuse to leave. You cannot have visitors to your home, including family and friends. Please follow the rules and stay at home. NSW has had a significant increase in COVID-19 community transmissions!
Covid-19 across the country is causing concern. Almost 16 million Australians were in lockdown recently, which suggested possible economic consequences, yet house prices around Australia have continued to increase.
Brisbane won the bid to host the 2032 Olympics, which should give home buyers and investors some strong property gains.
The CoreLogic Quarterly Rental Review for June suggests that paying a mortgage is now cheaper than paying rent on approximately 36% of Australian properties. This is higher than before COVID which was approximately 33%.
Tenants across NSW will receive a 60-day eviction ban, while both residential and commercial landlords can apply for financial assistance to reduce their tenants’ rental payments.
The NSW Government has extended the COVID-19 lockdown. COVID-19 is spreading fast. So Stay safe, and stay at home. Restrictions are up to 11.59pm Friday 16 July From 6pm on Saturday 26 June to 11.59pm Friday 16 July, the stay at home direction applies to people who live in, usually work in, or usually attend a university or other tertiary education facility in Greater Sydney including the Blue Mountains, Central Coast, Wollongong and Shellharbour local government areas. COVID-19 is very serious. It can cause severe illness and death in people of all ages. People with COVID-19 are now in hospital in NSW. Stay at home unless leaving for an essential reason, then: > One member of the household ONLY should leave home to shop for food once each day > You may leave home to seek medical care, exercise, or for essential work and education > You can leave home to get a COVID test or get vaccinated Wear masks indoors. Protect yourself and others. Do not have visitors to your house. Do not have family visitors if they do not live at your house. Everyone in your family should get tested if anyone has COVID-19 symptoms or has come into contact with someone with COVID-19. Existing restrictions remain in place for regional and rural NSW until midnight Friday 16 July.