Australia’s Housing Crisis Report
Savvy delves into the July 2023 housing crisis survey data to learn what impact this is having on vulnerable Australians. Survey by Everybody’s Home shows two-thirds of Australians are experiencing housing stress Rents for a 2br unit have risen 44.1% since March 2020 (national average), with wages rising only 2.5% 98% say that they are […]
Rental Survey 2023: Too Damn High? Three in Five Aussies Say Their Rent Is “Overpriced”
A nationally representative survey of Australians (n=1,000) conducted by Savvy has shown that almost two in five renters (59.2% of 392 renters) are spending over 31% of their weekly income on rent. 58.9% of renters say they feel their rent is overpriced 64.7% of women say they feel their rent is overpriced, compared with 52.9% […]
Mortgage Stress Survey 2023: 38% of Australians To Spend Less and Prioritise Mortgage
As part of Savvy’s ongoing research into the economic and financial wellbeing of Australian families, our latest survey follows up 2022’s findings into mortgage stress. 21% of respondents say they haven’t missed repayments but are “under pressure” 38% say that they will spend less and prioritise their mortgage if rates continue to rise 13% say […]
Property Report 2023: The Most and Least Expensive Suburbs to Buy Property in Australia
As part of Savvy’s ongoing economic research, we look at property market conditions in the most and least expensive suburbs to buy in. National housing values decreased by 3.2% over 2022 to November Vaucluse, NSW was the most expensive suburb for houses Kambalda East, WA was the most affordable suburb for houses Elizabeth North in […]
Rental Crisis: Low-Income Households Need 117% of Income to Pay Rent
Rental stress has been sky-high for Australians over the past few years. The soaring cost of housing is putting pressure on low to middle-income earners, especially in major cities such as Sydney and Melbourne. The issue is particularly acute for single-parent families, low-wage workers and older Australians on fixed incomes. More than 42% of all […]
Feeling the Pinch: 25.7% of Australian Mortgage Holders Have Seen Repayments Rise by Over 6%
Savvy’s survey investigates the impact of interest rate rises on mortgage holders to learn how much repayments have risen and how Australians plan to cope with the increase. 52% of Australian mortgage holders have had repayments rise up to 5% 18.1% of mortgage holders have seen repayments rise from 6-10% 6.26% of mortgage holders have […]
28% of Mortgage Holders Can Absorb Interest Rate Hike; 26% Will Experience Mortgage Stress
Savvy’s 2022 cost of living survey learns how interest rate hikes are affecting Australian mortgage holders. 44% of Australian mortgage holders spend between $251-$500 in weekly repayments 23% of mortgage holders spend $501-$750, and a further 18% spend $751 and over 53% will cut down on other expenses to prioritise mortgage, 28% will absorb increase, […]
Where To from Here: Mortgages in Australia 2022
With RBA interest rates at all-time lows, house prices skyrocketing and inflation on the rise, interest rates look set to inevitably rise during 2022. Savvy’s analysis of the latest data provides insight for homeowners regarding mortgage stress and potential increases in home loan repayments. 4.2% increase in house prices in Q4 2021 584,000 mortgage holders […]
Granny Flat Loans
If you’re thinking of taking out a loan to build a granny flat on your property, there’s more to think about than just available space. Savvy can help you compare all the different loan types available, saving you money by making sure you have access to the lowest interest rates and best home loan deals […]
Subject to Finance Explained
You may have seen the phrase ‘subject to finance’ in a sales contract, whether you’re buying a unit, a house, a car or a caravan, but what exactly does it mean and does it have any legal standing? Read all you need to know about ‘subject to finance’ clauses with Savvy. What exactly does ‘subject […]
Can You Salary Sacrifice Your Mortgage?
You’ve probably heard about novated leasing and the benefits of salary sacrificing to pay for your car, so you’re wondering whether you can do the same with your home loan. The answer to that question is… yes! However, it may not be an option for everyone. Want to know more? We’ve got you covered. You […]
How to Get a Home Loan
Whether you’re a first-time buyer or looking to upsize or downsize, the chances are you’ll need to find a home loan to help you purchase your dream home in Australia. Fortunately, you can learn about the key information you’ll need to know right here with Savvy. Read about how to apply for a home loan, […]
