Thousands of apartment owners in Sydney and Melbourne are expected to sell in the coming months, giving first-home buyers the chance to snap up a bargain.
Fresh figures released by Digital Finance Analytics showed that more than 4,000 property investors across both cities plan to flood the market with units due to the mortgage repayment holiday ending in March.
Financial regulators allowed lenders to give borrowers the option to pause mortgage repayments from March 2020 to ease the strain for those affected by the Covid-19 economic downturn.
Investors have battled to fill units while Australia s borders remain shut, with high vacancy rates forcing owners to accept rent at discounts of about 40 per cent - driving some unit prices down below $600,000.
The Weekly Whip
Voter ID, Planning reforms, and absolutely nothing on Social Care: following prorogation for the Local Elections, the Queen addressed a socially distanced group of Peers and Party Leaders, outlining the Government’s severe visions for the UK.
By Peter Munro, May 19, 2021 8:05
Welcome to the Weekly Whip. Your one-stop-shop for Lib Dem Parliamentary updates, covering the week that was and the week to come.
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Weekly Whip w/c 10th May
Monday 10
Tuesday 11
On Thursday 29
th April, Parliament prorogued for the Local Elections and returned to start a brand new session on Tuesday 11