Property investors are back: NAB
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Loan applications from property investors have started to lift but market conditions are a long way from requiring any âmacroprudentialâ intervention, said National Australia Bankâs personal banking boss, Rachel Slade.
NAB group executive for personal banking Rachel Slade: âWe usually give them a haircut on rental income and gave them a bigger haircut through COVID, but we have relaxed that now.â Â
Arsineh Houspian
âSome of the uncertainty is coming out of the investor mindset and they are more confident,â she told
The Australian Financial Review in an interview on Monday.
NAB said in its interim results last week investor loans were down by 3.3 per cent over the six months to March 31 compared with the previous half, while lending to owner occupiers rose by 3.4 per cent.
Single parents who want to buy a home, school leavers and retirees who want to boost their superannuation accounts are set to be big winners from this year s federal Budget.
Treasurer Josh Frydenberg will deliver his second Budget speech in seven months at 7.30pm on Tuesday as he aims to rebuild an economy that was sent into recession by the coronavirus lockdowns.
Mr Frydenberg is already planning more big spending next financial year, with Deloitte predicting a Budget deficit of $87 billion, a figure well below this year s estimated $167 billion shortfall. We won t be undertaking any sharp pivots towards austerity. We want more people in jobs and in better paying jobs. This is what our fiscal strategy is designed to achieve, he said.
On Tuesday at 7.30pm Josh Frydenberg will hand down the federal budget
His focus is on supporting the economy to recover from Covid-19 pandemic
Treasurer also set to announce axing of threshold for employers to pay super
Means workers do not need to earn $450 a month before employers contribute
Worker on $400 a month is $450 better off within a year of change being made
Master Builders Australia
Owning your own home is the key to economic security. New Federal Government measures announced today will help thousands more people achieve this.
“Builders, tradies, single mums, first home buyers in communities around the country will back the Government in making home ownership a centre piece of the Budget,” Denita Wawn, CEO of Master Builders Australia said.
“Every $1 spent building new housing delivers $3 in benefits to the wider economy result so this undoubtledly good news for the whole community,” she said.
“Overcoming the deposit gap is the greatest barrier to home ownership and these measures will be life-changing for so many people,” Denita Wawn said.