Now is the time to buy in Melbourne: What the experts say

The Melbourne residential market has experienced years of unprecedented growth that saw prices peak in November 2017. Now, after decades of rapid price hikes, the market is starting to self-correct to a level more traditionally akin to a ‘normal’ market, with organic ebbs and flows. David Kobritz, executive chairman of Dealcorp, said the housing market in…

APRA to remove banks’ interest-only lending restrictions

The financial regulator will lift restrictions on interest-only residential lending from January 1 in an attempt to stabilise Australia’s ailing housing market. The Australian Prudential Regulation Authority (APRA) imposed the restrictions in March 2017 to force lenders to limit new interest-only lending to 30 per cent of home loans that they issue. Australia’s median property…