Australia is facing an unprecedented apartment oversupply as an estimated 230,000 new apartments flood the Melbourne, Sydney and Brisbane markets over the next 24 months. The surge in new apartment building was in an attempt to satisfy the insatiable demand from the foreign Chinese property investor. Under an Australian law …
Australia’s unprecedented housing bubble has forced a significant number of mortgage applicants to falsify loan applications, simply to get a foothold in the ever challenging market. A recent UBS survey found mortgage fraud in Australia was rife, with 28 per cent of applicants admitting to falsifying loan documents. Many had …
It’s not just those struggling to break into the property market that need to cut back on smashed avocado with crumbled feta on five-grain toasted bread. Interest rates might be at record lows, but delinquency rates have hit record highs in Western Australia, Tasmania and the Northern Territory. In South …
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