Financial News

For Melburnians who've long complained of growing house prices, the comfort has been that at least the situation isn't as bad as Sydney. Not for much longer. An expert has predicted Melbourne will have a million-dollar median house price as soon as the end of next year. The latest data recorded Melbourne's median house price at $795,447 in December 2016, according to the Domain Group. In December 2014, it was $627,068. Anticipating price growth to average 3 per cent a…
Melbourne’s outer suburbs — the last frontier for affordable rentals — are steadily slipping out of reach for low-income tenants as rents soar to record heights. Renters in the Cardinia, Wyndham, Melton, Frankston, Casey and Greater Dandenong council areas were hit with some of the biggest falls in rental affordability over the past year, official figures show. Affordable new lettings across Frankston over the December quarter fell to 111 from 174 a year ago, according to the latest Department of…
NEW rules affecting every Australian applying for credit cards, loans or mortgages will soon kick in, but most people don’t even know about them. That’s the warning from credit rating bureau Experian, which says two thirds of Australians are unaware of looming changes to national credit reporting requirements that will enable lenders to see a lot more information about a customer’s financial history. At the moment, lenders only share negative data, like defaults and bankruptcies. But under amended privacy laws…
Page 5 of 19