In a surprise move the NSW state government will be increaseing the first home owner's grant by $3000 to stimulate the housing market. This will increase the total grants for First home buyers to $24,000.

A proportion of this grant will now be subjected to means testing, with the state governments $7,000 - $10,000  component unavailible for properties that cost more that $750,000.

When an eligible grant is coupled with the State Governments stamp Duty exemption (Worth up to $17,990 for first home buyers who buy property worth up to $500,000) the total State and Federal Government contribution equals up to $41,990. 

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First homebuyers boost mortgage sales
After falling dramatically over the past couple of months, mortgage sales rebounded in October, surging by 18% and buoyed by a record number of first homebuyers.

RBA cuts rates again
The Reserve Bank of Australia (RBA) has slashed interest rates by 0.75 of a percentage point.

Interest rate cut expected to boost housing
House builders are confident the Reserve Bank's latest 75-point interest rate cut will encourage buyers back into the depressed market.

Cheer the champions
In this era, we will see a move away from the "volume frenzy" approach that averages everyone who writes a loan as the same; to an era which focuses on return on equity (ROE).

GE cuts lending business
The world's 12th-biggest company, General Electric, is scaling down its finance business amid global market turmoil, prompting the local division to pull out of mortgages and other lending.

Prices dip, but not for long
House prices dropped slightly in the September quarter of this year, but are still higher than they were a year ago, according to the latest figures from the Australian Bureau of Statistics.

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