In Broken Hill, in the far west, paying down a house cost about $96 per week. The analysis examined median prices across the state and compared them to what mortgage repayments would cost at current loan rates. Albury Railway Station in Albury – one of the NSW’s cheapest major towns. Picture: Tourism NSW The average loan rate is 3.5 per cent, according to the Australian Bureau of Statistics, but some loan products offer rates as low as 1.88 per cent. Rates have never been this low. Home ownership costs were by the far the highest in Sydney, with mortgage repayments well above $1000 per week in many suburbs.
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Mortgage Business
Broker market share will hit 70% in 5 years: Aussie CEO By Annie Kane 08 March 2021
The CEO of Aussie Home Loans, James Symond, has forecast that broker market share will hit 70 per cent in the next five years, as more consumers turn to brokers for credit advice.
Speaking on Mortgage Business’s Mortgage and Finance Leader podcast, the chief executive officer of Aussie Home Loans (Aussie) said that he believed the broking industry would continue to grow and “absolutely” had its best years ahead of it.
He said: “If you look at some of the challenges that we did have, just in the last 24-36 months alone, we sat here as an industry when the [banking] royal commission was going on and we’re looking at being knocked out. We were having key CEOs of big banks, including CBA, basically saying: ‘Don’t pay
HomeCo ramps up funds management Property group Home Consortium is stepping up efforts to become a funds manager capitalising on daily shopping and medical needs.
Business by Ben Wilmot
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Subscriber only Property group Home Consortium, once known for converting former Masters stores into shopping outlets, is stepping up efforts to become a funds manager capitalising on daily shopping and medical needs. The company spun off a supermarket owning trust last year and when releasing its half year results on Wednesday flagged that it hopes to eventually grow its medical fund holdings to $2bn. To get there it will spin off a trust of medical and government assets that could amount to about $500m, with HomeCo running a dual track process that could see either a float or an unlisted fund being created.