Home News Homeowners ‘more confident than ever’ with finances

Homeowners ‘more confident than ever’ with finances

Font size :
A survey has found that more Australians are growing confident about their finances as the housing market flourishes, particularly homeowners who have paid off their mortgages and tradies.
 
Thanks to the record-high property values, the confidence of those who own their homes outright has jumped by over 15% in Q4 of 2014.
 
The quarterly household financial conditions report by St George/Melbourne Institute said the figure was the biggest rise since they started conducting the survey 20 years ago.
 
Australians who are still paying their mortgages also expressed increased desire to cut back their debts amid low interest rates.
 
"It is indicating that consumers are still a bit cautious about spending and also about risk taking," St George senior economist Janu Chan said.
 
"But while it does seem like there is still some that need to pay off debt, there is still some risk taking out there and it's possible that because interest rates are low, households are using this opportunity to reduce their debt levels."
 
Meanwhile, the survey stated that conditions for tradespeople also went up to over 21%. This skyrocketing increase is attributed mostly to better job prospects due to the housing construction boom. 

It can be confusing to know whether to get a variable rate or fixed rate mortgage, and what features are important. That's why it's important to not only check the right rates, but make sure that you're getting the right features in your home loan. Get help choosing the right home loan

Mortgage News and Articles

Many millennials are relying on an inheritance to buy homes Many millennials are relying on an inheritance to buy homes

Lawyers are seeing cases where disputes over inheritance have created tensions within families Read more

Gen Y homeowners fearful of interest rate rises Gen Y homeowners fearful of interest rate rises Many are worried rising interest rates will negatively impact their cost of living expenses, according to a new survey ... Read more

Young Sydneysiders are less keen on homeownership Young Sydneysiders are less keen on homeownership Many would rather ‘rentvest’ than be tied down to a costly owner-occupier mortgage, according to new studies ... Read more

New social housing aims to transform Ivanhoe Estate New social housing aims to transform Ivanhoe Estate The sprawling redevelopment aims to boost the supply of affordable housing in Sydney ... Read more

More mortgage news and articles

Sponsored Links

Thursday, Aug 24, 2017
Top Featured Rates
Top Bank Rates

Get help choosing the right home loan

Let us help you find the right home loan for your needs.

Tell us a bit about your circumstances:
  • Purpose of mortgage
  • Household Income
    $
  • How much do you want to borrow?
    $
  • How much deposit do you have?
    $
  • How much is your house worth?
    $
  • How much do you still owe on your mortgage?
    $
  • What type of mortgage do you have?


  • How much is your new home?
    $
  • How much do you want to borrow?
    $
  • How soon do you want a mortgage?
Next
  • First name
  • Last name
  • Where do you live?
  • Phone number

Special Offers

Related Keywords