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Finance Zone Australia

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25.01.2022 What is a Cooling-Off Period? A cooling-off period is a fixed number of days in which you can walk away from a transaction. The cooling-off period is different in every state and it’s important to note that it doesn’t apply to auctions which are considered unconditional sales.... What are the rules in your state? In New South Wales, you get five business days, however, expect to pay the seller 0.25 per cent of the sales price. In Queensland, you also get five business days and have to pay the same 0.25 per cent fee. Victorian’s get a three-business-day cooling-off period and the termination fee is a little lower at 0.25 per cent. South Australian’s have only two business days, but only lose a $100 holding deposit. The ACT is the same as both NSW and Victoria, with five business days and the termination fee is 0.25 per cent of the purchase price. In the Northern Territory, there is a cooling-off period of four business days, however, no termination fee is payable. There’s no cooling-off period in Tasmania and Western Australia.

25.01.2022 Median House Prices Rise Across Australia Median house prices across the country have started 2021 in a positive manner, rising by 0.9% for the month of January, according to CoreLogic. All the capital cities recorded price increases in January, led by Darwin, Perth and Brisbane, which increased by 2.3%, 1.6% and 1.6% respectively.... Sydney and Melbourne are also continuing to recover, seeing dwelling values increase by 0.4%.

24.01.2022 Who we are ? and How can we help you at Finance Zone Australia?

21.01.2022 Take Advantage of lenders refinance cashback offers !

17.01.2022 Wishing you all Happy Diwali !

13.01.2022 ANZ Predicts House Prices Rising in 2021 ANZ Bank forecasts price gains of around 9% across Australia’s capital cities in 2021. Perth and Brisbane are expected to see the strongest growth in 2021, with prices predicted to grow by 12% and 10% respectively, while all other cities across the country are expected to see prices rising in the coming 12 months.

12.01.2022 Auction Clearance Rates on the Rise Preliminary auction clearance rates are once again on the rise in both Sydney and Melbourne. The latest data from CoreLogic has shown a 77 per cent clearance rate for the week, which was up from 76 per cent for the same time last week.... Sydney’s auction clearance rate which has always been a good indicator of price movements has been sitting above 70 per cent, with preliminary rates reaching 80 per cent at times. Again on lower volumes than the same time last year. Melbourne has been the one that has seen a large increase in auction activity as lockdown measures ease and the clearance rate has been slowly increasing over the past few weeks. Last week Melbourne posted a preliminary clearance rate of 76 per cent, up from 73 per cent as both buyers and sellers look to get back to business with lockdowns easing.

11.01.2022 Why Rent when you can Buy !

05.01.2022 3 Common Reasons Why Home Loans Get Rejected The current lending criteria continue to get tighter than they have ever been before, meaning that potential borrowers need to have their applications in order. Here are 3 reasons why your home loan application might get rejected:... Poor Credit History - Lenders want to know that you are someone who can pay back a loan. A patchy credit history is a common reason for rejection by a lender. You Haven’t Been Employed Long Enough - If you haven’t been in a job for at least six months, or if you have been self-employed for less than two years, you might not qualify for a standard loan and could be rejected. Borrowing Too Much - While it is possible to borrow to a 90 or 95% LVR, this is deemed to be high-risk and could result in your application being rejected.

03.01.2022 RBA kept the rate unchanged !

01.01.2022 Property Markets Across the Country Climb in October The resurgence in the national property market has continued in October, with dwelling values increasing in all states except Melbourne. Overall the national property market increased 0.4 per cent last month according to the latest data from CoreLogic. ... The strongest performers have continued to come from the smaller capital cities with Hobart, Canberra, Darwin and Adelaide all increasing in value by more than 1 per cent last month. While Sydney values have started to rebound after declining over the past few months, up 0.1 per cent for October. Melbourne was the only city to record a fall in values, down -0.2 per cent thanks to the extended lockdown measures. Over the last seven months, since the lockdown measures first started coming into place across the country, national values have only fallen by 2.6 per cent in a sign of just how resistant the Australian property market really is.