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Overseas Property News
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Australian mortgage approvals up 37%
Country: Australia
11 March 2009 A rush from first-time buyers to take advantage of the government’s one-off housing grant before it ends on 30 June has boosted the number of applications for mortgage loans to buy propery in Australia. Data from the Australian Finance Group (AFG) shows that the volume of mortgages arranged by the company rose by 36.8% year-on-year in February to 7,673 loans, valued at AUS$2.67bn (£1.28bn). Of those, 26.1% were taken out by first-home buyers, up from 25.8% in January. AFG general manager of sales and operations Mark Hewitt is now calling on the government to extend its grant top-up scheme to prevent a fall in mortgage lending levels during the second half of this year. “The dramatic increase we've seen in first-home buyers over the past four months is a double-edged sword,” Hewitt said. “It's positive in that it underpins the future recovery of mid-level property markets by getting significant numbers of people onto the property ladder. “But we're concerned that if the government doesn't announce an extension to the grants fairly soon, we'll continue to pull demand forward, and will be left staring over a cliff come the end of June.” In October, the federal Government doubled the first-home owners grant to $14,000 (£6,500) for ready-built homes, and tripled it to $21,000 (£9,700) for newly built properties. AFG's figures showed that New South Wales had the highest proportion of first-home buyers, at 34.5% in February, followed by Victoria, at 26.8%. Standard variable rates were the most popular, making up 48.8% of all homeloans.
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Price: £194,000
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Type: Land
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Featherbrook at Point Cook – only 25 mins from Melbourne Central Business District
With its vast open spaces and specially designed recreational areas, Featherbrook, Point Cook offers residents the very best in lifestyle options.
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Price: £225,291
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Type: House
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New House and land packages, in the new growth coridor.
600sm 4 bedrooms and 3 baths, lock up garage. Tired of the old houseing style of old Europe. Everything is new, new, new
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Price: £232,118
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Type: Apartment
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Ocean frontage, 2 bed, 2 bath. 90sm. Near new in well kept resort. 70% Occupany all year around. Low season tariff 145
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Price: £287,500
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Type: House
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Bedrooms: 1/2
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Featherbrook at Point Cook – only 25 mins from Melbourne Central Business District
With its vast open spaces and specially designed recreational areas, Featherbrook, Point Cook offers residents the very best in lifestyle options.
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View details | Enquire further
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Price: s £367,000
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Type: Apartment
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Bedrooms: 1,2,3
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Description - Mainpoint - Melbourne’s newest land mark residential tower is a fantastic opportunity to secure your future.
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