Australians are getting smarter at paying down their $1.5 trillion worth of outstanding home mortgages by increasing the use of offset accounts and taking advantage of lower interest rates a new mortgage report by Deloitte says.
The report which takes in the views of lenders such as ANZ, Macquarie Bank, AFS, Pepper Group, Resimac and ING Direct showed that the vast majority expected house price growth would plateau over the next 12 months. The next most popular view was that there would be continued growth, but at a lower level than 2014-2015. Click here for the complete Australian Financial Review article HERE.
MAJOR INFRASTRUCTURE PROJECTS
- Work continues on the amazing $345 million redevelopment at Jupiters Hotel & Casino in Broadbeach.
- The $1 billion, five-tower Jewel development at Surfers Paradise has been funded through Wanda, one of China’s richest property groups.
- The Gold Coast light rail project is one of the biggest public transport projects in the country, and the biggest transport infrastructure project ever undertaken on the Gold Coast.
- Work on the $600 million Stage 2 of Gold Coast Light Rail will commence in 2016.
- The Coomera East Shopping Centre has been approved for the corner of Foxwell Road and Oaky Creek Road at Coomera. The 2,000sqm centre includes a Woolworths, cafes and restaurants and is due for completion mid-2016.
- Gold Coast University Hospital is now Australia’s largest hospital with 750 overnight beds, three times larger than the previous Gold Coast Hospital, and the Knowledge Precinct is the largest clinical and research facility in Australia. For health students, the training environment on the Gold Coast is second to none.
- Brisbane Airport Corporation’s new Property Development Master Plan will focus on creating a vibrant commercial hub from Airport Village to the Domestic Terminal and beyond within the next 10 years.