Borrowing against the home increases
Monday 19 January 2004
Australian households are borrowing more against the equity in their homes but levels were not unsustainable, according to Australia's central bank.
By The Landlord
The Reserve Bank of Australia said this was because rising house prices were creating more equity.
Banks in New Zealand have said a similar situation exists here.
Commenting is closed
Stronger than anticipated demand from property buyers is helping to keep prices nationwide buoyant – and solidly up on last year - in the post-Covid housing market.
ASX-listed Centuria Capital has declared that its takeover of New Zealand property funds manager Augusta Capital is now unconditional, as it has secured nearly 66% of Augusta’s shares.
Minister of Finance Grant Robertson says the Reserve Bank could extend mortgage holidays for struggling borrowers.