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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.

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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.

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Who had it easier? Buying in 1990 v 2018

By Reporter

May 31 2018
Share

Invest

Who had it easier? Buying in 1990 v 2018

By Reporter
May 31 2018

In 1990, the official interest rate was 17 per cent but since then, average mortgages have increased nearly twice as fast as wages. So, when was it easier to buy?

Who had it easier? Buying in 1990 v 2018

By Reporter

May 31 2018
Share

In 1990, the official interest rate was 17 per cent but since then, average mortgages have increased nearly twice as fast as wages. So, when was it easier to buy?

The Reserve Bank of Australia has held the official interest rate at a record-low 1.50 per cent since August 2016 and pundits predict it will stick at this rate for at least a few months, to a year longer.

This low interest rate environment is in notable contrast to the record-high 17 per cent of February 1990.

According to RateCity spokesperson Sally Tindall, this is a reality "many Australians would rather forget".

"Now we’re living in a period of record-long, record-low interest rates," Ms Tindall said.

RateCity analysis compared the the February 1990 and May 2018 cash rates along with average loan sizes, $67,700 and $388,100, respectively. Average annual wages of $27,284 and $81,619 were also factored in.

Based on these elements, the average home-buyer in 1990 would spend 42.45 per cent of their income on their mortgage. The average home-buyer in 2018 would be forking out a lower 28.91 per cent.

However, there's more to it than that, Ms Tindall added.

"The key difference between 1990 and today is that average mortgages have risen nearly two times faster than wages," she said.

“So, when it comes to paying down the mortgage each month, when you factor in the record low interest rates, we’re actually better off. But ask a first home buyer to stump up a 20 per cent deposit today, and you’ve got them snookered before they’ve even started."

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