The majority of property markets in Australia are expected to undergo a recovery during 2012, according to a new report.
Australian Property Monitors (APM) has released its State of the Market survey for December this year, noting overall during 2011 "housing markets entered a correction phase with income growth required to catch up with the finance requirements for home purchases".
The organisation added that natural disasters, coupled with low confidence among consumers and a mixed economic performance for the country, have resulted in fewer buyers...
City watchdog FSA has published a report outlining how it wants to change the way lenders and mortgage brokers operate
• What has happened?
The City watchdog the Financial Services Authority has been looking at the mortgage market for the past two years. After a series of consultations it has published a report outlining how it wants to change the way lenders and mortgage brokers operate.
• What changes does it suggest?
A ban on self-certification mortgages, a crackdown on...
Self-certification loans will become a thing of the past, as lenders are forced to verify the income of every borrower
More than 600,000 borrowers who took mortgages out during the housing market boom could have been denied a loan under new rules proposed by the Financial Services Authority (FSA) to prevent a return to risky lending.
Self-certification loans will become a thing of the past, as lenders are forced to verify the income of every borrower, affordability checks will be tougher and borrowers will no longer be able to use...
Dearth of sellers due to fears over eurozone crisis and rising unemployment will push property prices up 2%, says Rightmove
House prices are predicted to increase next year despite the uncertain economic climate and pressures on mortgage lenders.
The property website Rightmove said today it expected prices to rise by about 2% in 2012, compared with the 1.5% annual increase revealed in its December housing market survey. It said prices would be underpinned by a shortage of new sellers, which it forecast would be about 1.2 million next...
