One in Four Australians Will Not Make Payments if Rates Rise 0.5 Per Cent: Report
A REPORT by finance giant QBE says one in 10 mortgage holders would not be able to make their repayments if interest rates rise by one quarter of a per cent.
This figure rises to one in four Australians, if interest rates were to rise half a per cent.
The report also says 80 per cent of first home buyers said the property market was overvalued, but one in five said they are still likely to make a purchase in the next six months.
The report, by QBE Lenders Mortgage Insurance, says on average 25 per cent of owner occupiers are suffering mortgage stress, with this figure likely to rise in line with future interest rate rises.
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THE see-saw property market that is Perth, may be set for another battering.
AUSTRALAND Property Group has sold an as yet unbuilt office and warehouse facility in Melbourne’s west to the Australian Ballet.
UK retail giant Topshop will open its first Australian store at Sydney’s high profile Gowings Building (pictured, right).
AUSTRALIA’s almost uninterrupted strong economic run – which has resulted in an almost uninterrupted consumption binge – is piquing the interest of North America’s major retail businesses.
THE Sheraton Mirage in Port Douglas has sold for $35 million to Melbourne investor David Marriner.
Capital Corporation has started construction of a seven level, 11,000 square metre office at Sydney’s Norwest Business Park.
VICTIMS of Brisbane’s floods will be able to build their homes one metre higher than the previous 8.5 metre planning limit.
CEDAR Woods Properties has rejected a $310 million takeover offer, saying that purchase price undervalued the company.
New research by the HIA shows housing affordability hasn’t improved in Sydney.
CONSTRUCTION of a major new 561-unit apartment complex in Sydney’s Macquarie Park should start by the end of this year.
TERRI Irwin has been quietly listing for sale properties that formed part of the $20 million portfolio she built with late husband Steve.
THE commercial property sector’s biggest fundraiser is about to peddle off again, though thankfully for the Victorian participants, the weather is looking calmer than last year.
PARMALAT Food, a dairy group whose brands include Pauls Milk, has signed a 10-year lease for 1281 square metres of space at Frenchs Forest in Sydney’s north.
LOCAL developer Drive Projects with Interlandi Mantesso Architects has pocketed almost $30 million from the sale of apartments and strata office suites within a prominent mixed-use project abutting Swinburne University’s Hawthorn campus.
LISTED institution Australand Property Group with partner LaSalle Investment Management, have paid about $35 million for a 5.5 hectare development site in Sydney’s south.
AUSTRALIA’s prestige property market appears to still be in deceleration mode.
AFTER shelving plans to redevelop the prominent site three years ago, the Queensland government is offering a Gold Coast property to the public again.
GOOGLE has shelved plans to feature real estate listings within its Google Maps.
THE final plan for Perth’s Northbridge Link has been announced for a 13.5 hectare site, around Horseshoe Bend.
THE INDEPENDENT Commission Against Corruption was told a former NSW Labor government executive rushed to approve the $12.2 million purchase of waterfront land to avoid risk of a deal falling through.
SYDNEY based private developers the Hatsatouris family has been granted approval to build a $950 million tourism and residential hub off Queensland’s central coast.
THE largest private owner of forestry land in Australia is now a Canadian pension fund.
PERTH’s largest coastal development for more than 50 years has been launched in the Alkimos Eglinton area.
A PORTFOLIO of four Freedom petrol stations in Gippsland has sold for $7.6 million to United Petroleum, which will be an owner-occupier.
CORPORATE heavyweights Bell Potter and Southern Cross Equities, which merged last year, have agreed to lease 3000 square metres of premium grade office space in Sydney’s landmark Aurora Place office building.
VALAD Property Group is expected to take a hit from the sale of its Sheraton Noosa Resort and Spa facility (right) at Noosa Heads.
INVESTOR demand for Australian hotels surged last year.
ANOTHER chunk of former industrial land in Kensington is on track to being replaced with apartments.
STOCKLAND has paid an as yet undisclosed sum to secure rights to progressively acquire 339 hectares of land in south-west Sydney.
TWO of Australia’s biggest property players, Westfield Group and Lend Lease (which controls the Australian Prime Property Fund), are planning to sell the Cairns Central shopping centre they own together.