Daily Buzz: Thursday, 15 August
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PropertyBuzz, your daily dose of property news.
Builder Profits are back on the up, home loans costing Aussies triple the property price, and How cold weather is impacting property sales.
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Welcome to Property Buzz! I’m Grace Ormsby.
Today is Thursday, 15 August.
– Metricon, one of Australia’s largest home builders, has seen profits rise, which could earmark the end of the construction crisis.
– The company’s earnings were up 25 per cent to over $40 million, with the improvement said to be a result of improved efficiency and stable labour costs.
– Customer demand for home building surged also served, with Metricon flagging significant increases in deposits, particularly in metropolitan Victoria and Queensland.
And a grim statistics out of MNY Research, which found Australian homeowners are paying up to 2.8 times their original loan due to high interest rates and admin fees.
– The study found an almost 3 per cent discrepancy rate between the cheapest and most expensive lenders, equating to cost differences of more than $1,000 per month. .
– The most expensive home loan was held by Commonwealth Bank, while the cheapest was held by Qudos Bank.
Elsewhere, the recent spate of cold weather has had an impact on Australian would-be buyers, with lower attendance at open homes during colder months, according to Raine & Horne analysis.
– Despite increased listings in July, attendance fell in NSW and Tasmania due to cold temperatures and inclement weather.
– But for those buyers willing to endure cold weather, Angus Raine said there’s less competition and more options, with a surge of new listings on the market.
– The network is predicting a busy spring season, with Queensland especially expected to be a hot market due to increased open home attendance and listings.
That’s Property Buzz for today.
See you again tomorrow, 16 August, for your daily dose.
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