array(1) { [0]=> &object(stdClass)#6397 (52) { ["id"]=> string(5) "17060" ["title"]=> string(120) "Do lockdowns boost property prices? Are short-sellers levelling the playing field? Did you lodge your tax returns early?" ["alias"]=> string(117) "do-lockdowns-boost-property-prices-are-short-sellers-levelling-the-playing-field-did-you-lodge-your-tax-returns-early" ["introtext"]=> string(196) "

On this episode of The nestegg Podcast, host Maja Garaca Djurdjevic and three experts discuss the ups and downs of online auctions, the power of activist short-sellers, and tax time 2021.

" ["fulltext"]=> string(1111) "

Steve Waters, director of Right Property Group, chats about online auctions and why they resemble “a bad Zoom meeting”, the growing resilience of the property market, and how Sydney’s lengthy lockdown could shake things up.

RMIT’s senior lecturer of finance, Dr Angel Zhong, delves into short selling – the original trade that sent GameStop stock soaring – and how activist short-sellers are impacting markets.

And lastly, tax and super guru Timothy Munro talks about those early tax lodgers and possible ramifications, as well as detailing the temporary shortcut method, which you may be able to use this tax time.

Have a question for our experts? Get in touch at [email protected] and you might get featured on the next episode.

" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["catid"]=> string(3) "302" ["created"]=> string(19) "2021-07-13 05:06:29" ["created_by"]=> string(4) "2404" ["created_by_alias"]=> string(0) "" ["state"]=> string(1) "1" ["modified"]=> string(19) "2021-07-13 07:59:56" ["modified_by"]=> string(4) "2404" ["modified_by_name"]=> string(12) "Robyn Tongol" ["publish_up"]=> string(19) "2021-07-13 07:55:25" ["publish_down"]=> string(19) "0000-00-00 00:00:00" ["images"]=> string(240) "{"image_intro":"images\/podcasts\/230221_Angel_Zhong_Steve_Waters_Timothy_Munro.jpg","float_intro":"","image_intro_alt":"","image_intro_caption":"","image_fulltext":"","float_fulltext":"","image_fulltext_alt":"","image_fulltext_caption":""}" ["urls"]=> string(121) "{"urla":false,"urlatext":"","targeta":"","urlb":false,"urlbtext":"","targetb":"","urlc":false,"urlctext":"","targetc":""}" ["attribs"]=> string(855) "{"article_layout":"","show_title":"","link_titles":"","show_tags":"","show_intro":"","info_block_position":"","info_block_show_title":"","show_category":"","link_category":"","show_parent_category":"","link_parent_category":"","show_associations":"","show_author":"","link_author":"","show_create_date":"","show_modify_date":"","show_publish_date":"","show_item_navigation":"","show_icons":"","show_print_icon":"","show_email_icon":"","show_vote":"","show_hits":"","show_noauth":"","urls_position":"","alternative_readmore":"","article_page_title":"","video_url":"","channel_id":"UCLBR-2LtTtui_WiRuEfW3qA","send":"0","test":"0","comments":"1","readingDiff":"3","schema_active":"0","schema_name":"","schema_description":"","schema_thumbnailUrl":"","schema_uploadDate":"","schema_duration":"","schema_contentUrl":"","schema_embedUrl":"","canonical_link":""}" ["metadata"]=> string(68) "{"robots":"","author":"","rights":"","xreference":"","metatitle":""}" ["metakey"]=> string(105) "lockdowns, boost, property, prices, short, sellers, levelling, playing, field, lodge, tax, returns, early" ["metadesc"]=> string(200) "On this episode of The nestegg Podcast, host Maja Garaca Djurdjevic and three experts discuss the ups and downs of online auctions, the power of activist short-sellers, and tax time 2021. Steve W" ["access"]=> string(1) "1" ["hits"]=> string(3) "159" ["xreference"]=> string(0) "" ["featured"]=> string(1) "0" ["language"]=> string(1) "*" ["readmore"]=> string(4) "1111" ["ordering"]=> string(1) "0" ["category_title"]=> string(7) "Podcast" ["category_route"]=> string(17) "resources/podcast" ["category_access"]=> string(1) "1" ["category_alias"]=> string(7) "podcast" ["published"]=> string(1) "1" ["parents_published"]=> string(1) "1" ["lft"]=> string(2) "82" ["author"]=> string(12) "Robyn Tongol" ["author_email"]=> string(33) "[email protected]" ["parent_title"]=> string(9) "Resources" ["parent_id"]=> string(3) "300" ["parent_route"]=> string(9) "resources" ["parent_alias"]=> string(9) "resources" ["alternative_readmore"]=> NULL ["layout"]=> NULL ["params"]=> object(Joomla\Registry\Registry)#6322 (3) { ["data":protected]=> object(stdClass)#6209 (95) { ["article_layout"]=> string(14) "momentum:newne" ["show_title"]=> string(1) "1" ["link_titles"]=> string(1) "1" ["show_intro"]=> string(1) "0" ["info_block_position"]=> string(1) "0" ["info_block_show_title"]=> string(1) "1" ["show_category"]=> string(1) "1" ["link_category"]=> string(1) "1" ["show_parent_category"]=> string(1) "0" ["link_parent_category"]=> string(1) "0" ["show_associations"]=> string(1) "0" ["flags"]=> string(1) "1" ["show_author"]=> string(1) "1" ["link_author"]=> string(1) "0" ["show_create_date"]=> string(1) "0" ["show_modify_date"]=> string(1) "1" ["show_publish_date"]=> string(1) "1" ["show_item_navigation"]=> string(1) "1" ["show_vote"]=> string(1) "1" ["show_readmore"]=> string(1) "1" ["show_readmore_title"]=> string(1) "1" ["readmore_limit"]=> string(3) "100" ["show_tags"]=> string(1) "0" ["show_icons"]=> string(1) "1" ["show_print_icon"]=> string(1) "1" ["show_email_icon"]=> string(1) "1" ["show_hits"]=> string(1) "1" ["record_hits"]=> string(1) "1" ["show_noauth"]=> string(1) "0" ["urls_position"]=> string(1) "0" ["captcha"]=> string(0) "" ["show_publishing_options"]=> string(1) "1" ["show_article_options"]=> string(1) "1" ["save_history"]=> string(1) "1" ["history_limit"]=> int(10) ["show_urls_images_frontend"]=> string(1) "0" ["show_urls_images_backend"]=> string(1) "1" ["targeta"]=> int(0) ["targetb"]=> int(0) ["targetc"]=> int(0) ["float_intro"]=> string(4) "left" ["float_fulltext"]=> string(5) "right" ["category_layout"]=> string(14) "momentum:newne" ["show_category_heading_title_text"]=> string(1) "1" ["show_category_title"]=> string(1) "1" ["show_description"]=> string(1) "0" ["show_description_image"]=> string(1) "0" ["maxLevel"]=> string(2) "-1" ["show_empty_categories"]=> string(1) "0" ["show_no_articles"]=> string(1) "1" ["show_subcat_desc"]=> string(1) "1" ["show_cat_num_articles"]=> string(1) "0" ["show_cat_tags"]=> string(1) "1" ["show_base_description"]=> string(1) "1" ["maxLevelcat"]=> string(2) "-1" ["show_empty_categories_cat"]=> string(1) "0" ["show_subcat_desc_cat"]=> string(1) "1" ["show_cat_num_articles_cat"]=> string(1) "1" ["num_leading_articles"]=> string(2) "14" ["num_intro_articles"]=> string(1) "0" ["num_columns"]=> string(1) "0" ["num_links"]=> string(1) "0" ["multi_column_order"]=> string(1) "0" ["show_subcategory_content"]=> string(2) "-1" ["show_pagination_limit"]=> string(1) "0" ["filter_field"]=> string(4) "hide" ["show_headings"]=> string(1) "1" ["list_show_date"]=> string(9) "published" ["date_format"]=> string(0) "" ["list_show_hits"]=> string(1) "0" ["list_show_author"]=> string(1) "1" ["orderby_pri"]=> string(4) "none" ["orderby_sec"]=> string(5) "rdate" ["order_date"]=> string(9) "published" ["show_pagination"]=> string(1) "2" ["show_pagination_results"]=> string(1) "1" ["show_featured"]=> string(4) "show" ["show_feed_link"]=> string(1) "1" ["feed_summary"]=> string(1) "0" ["feed_show_readmore"]=> string(1) "0" ["sef_advanced"]=> int(1) ["sef_ids"]=> int(1) ["custom_fields_enable"]=> string(1) "1" ["show_page_heading"]=> NULL ["layout_type"]=> string(4) "blog" ["menu_text"]=> int(1) ["menu_show"]=> int(1) ["page_title"]=> string(66) "Borrow Money - Your Guide to Loans and Credit Management | nestegg" ["menu-meta_description"]=> string(138) "Finance, credit and debt feel like a minefield? From financing a credit card debt to deciding on a home loan, Nest Egg’s got your back! " ["secure"]=> int(0) ["page_description"]=> string(7) "nestegg" ["page_rights"]=> NULL ["robots"]=> NULL ["page_heading"]=> string(66) "Borrow Money - Your Guide to Loans and Credit Management | nestegg" ["access-view"]=> bool(true) } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["displayDate"]=> string(19) "2021-07-13 07:55:25" ["slug"]=> string(123) "17060:do-lockdowns-boost-property-prices-are-short-sellers-levelling-the-playing-field-did-you-lodge-your-tax-returns-early" ["catslug"]=> string(11) "302:podcast" ["link"]=> string(136) "/resources/podcast/do-lockdowns-boost-property-prices-are-short-sellers-levelling-the-playing-field-did-you-lodge-your-tax-returns-early" ["image"]=> string(65) "images/podcasts/230221_Angel_Zhong_Steve_Waters_Timothy_Munro.jpg" ["image_alt"]=> string(0) "" } }

Latest Podcast

Do lockdowns boost property prices? Are short-sellers levelling the playing fiel...

Resources

There is $17.5 billion in lost and unclaimed super across ...

Borrow

Should you freeze your mortgage?

By Miranda Brownlee

July 07 2020
Share

Borrow

Should you freeze your mortgage?

By Miranda Brownlee
July 07 2020

While pausing mortgage repayments may be tempting for those struggling with payments, it may be best to explore other options first to avoid some negative long-term effects.

Should you freeze your mortgage?

By Miranda Brownlee

July 07 2020
Share

While pausing mortgage repayments may be tempting for those struggling with payments, it may be best to explore other options first to avoid some negative long-term effects.

Since March, Pink Finance director Nicole Cannon said the federal and state governments have been releasing billions of dollars in assistance and stimulus packages, as well as changing some rules and regulations to support people and businesses in response to the impact of COVID-19.

Lenders have also been actively supporting both business and personal customers, she said, by reducing and freezing repayment obligations and changing interest rates, fees and terms, among other things.

Ms Cannon said that when lenders initially began offering these repayment pauses for mortgages, a lot of borrowers were under the misconception that there would be no interest or repayments for six months.

“That was so far from the truth, [yet] everybody was requesting these repayment pauses even though the long-term impact for the customer was quite extreme,” she said.

“I had one customer who wanted to pause his loan, and since that time he’s added an extra $200,000 to his loan, so people were trying to take advantage of it.”

Ms Cannon said borrowers should be aware that if they place the mortgage on hold for six months, they’re not going to be able to apply for credit anywhere else if they need to.

“It will also come up on your credit file and it will be on your bank statement that everything has been put on hold. This has an impact down the track as well,” she warned.

She also cautioned that missed payments will increase debt in the long term.

According to Ms Cannon, there are several other things borrowers struggling to make repayments should consider first instead of pausing their mortgage, such as minimising payments.

“You may have room to move on what you’re paying, or you can negotiate with your lender about going interest-only, and maybe reducing your interest rate,” she suggested.

Those who are getting slugged with high-interest rates on credit repayments, she said, may want to consider consolidating their debt into their home loan, which has lower rates over the longer term.

“If you do decide to do this, it is very important to understand that it could end up costing you more in interest if you repay the additional balance over the full 25- or 30-year home loan term,” she noted.

Another option for borrowers may be to fix their interest rate in order to reduce payments.

“Interest rates are at an historic low and lenders are trying to assist customers where they can. One way some are doing this is by dropping their rates on short-term one- or two-year fixed loans,” she explained.

Ms Cannon said certain features in loan products, such as redraw facilities or offset accounts, may also be helpful.

“A redraw facility lets you withdraw any extra payments you’ve made into your loan. An offset account, which any salary or payments can be made into, uses its balance to reduce the balance of your home loan. This in turn reduces the interest you’re paying off,” she explained.

“It is important to understand the difference between the two options. With a redraw facility, you are drawing back the amount that you are ahead of the scheduled loan repayments, and this may require the lender’s approval. An offset account operates in much the same way as a normal deposit account and the funds are yours to withdraw at any time.”

Finally, for those who have been saving for a rainy day, Ms Cannon said it may be worth using some of these savings for their mortgage.

“It is worth pointing out that we’re in a massive storm with huge downpours right now. Maybe this is that day you’ve built up a buffer for,” she said.

Did you enjoy this article? You may also be interested in:

Forward this article to a friend. Follow us on Linkedin. Join us on Facebook. Find us on Twitter for the latest updates

Rate the article

Loans

What does COVID-19 mean for my HECS debt?

Australia’s consumer price index has been bumped up and down during the COVID-19 pandemic, but what does that mean if you have a HECS debt? ...Read more

Loans

ME Bank faces criminal charges

The corporate regulator has filed criminal charges against ME Bank, alleging false and misleading behaviour and breaches of the Credit Act. ...Read more

Loans

Australia’s largest bank begins to lift rates in a sign of things to come

Record-low interest rates could be a thing of the past as Australia’s largest bank begins to lift rates, despite the RBA’s ongoing “lower for longer” narrative. ...Read more

Loans

Responsible lending laws set to stay

The controversial axing of responsible lending laws appears all but over, as independent senators announce they will not support the legislation. ...Read more

Loans

Westpac introduces a savings buffer for distressed mortgage customers

Westpac is looking to make life a little easier for financially distressed customers by introducing a savings buffer to its existing suite of mortgage products. ...Read more

Loans

New loan commitments reach record high

Record-low interest rates are leading to record-high new loan commitments as investors and first home buyers flood the market, official figures have revealed. ...Read more

Loans

Rate of inflation disappoints, silencing interest rate doomsayers

Speculation that the likelihood of rising March quarter inflation data would signal the prospect of interest rate rises has predictably once again fallen well wide of the mark, an economist has said. ...Read more

Loans

Home loan commitments crash for the first time since May

New loan commitments for housing have declined for the first time since May 2020, but months of growth have ensured records have been maintained, new data has shown. ...Read more