ESRE website gone live today. www.esre.com.au

Owner Occupier Loans for New Property Fell in December 2010

driven by a marked fall in lending for the purchase of new dwellings, according to the Housing Industry Association. Read more..
http://www.reinsw.com.au/default.aspx?ArticleID=8352

The RBA's decision: keep rates on hold - a positive boost for the property market.

The Reserve Bank of Australia had decided to keep rates on hold at 4.75%. Further rate increases are strongly predicted during the year, therefore mortgage holders should embrace this opportunity to pay down their debt. The offical interest rate is currently 4.75%. Today's decsision will be a positive boost to the beginning of this year's property market.

Office Premises Relocation & Contact Details

ESRE are now located at:
125 Oxford Street, Bondi Junction, NSW 2022
Contact #s: T: 02 9387 6514 F: 02 9387 6517
We welcome you to drop in & say hello.

Recent changes to - Strata Schemes Management Regulations (1996)

Recent changes to the Strata Schemes Management Regulations (1996) now include authorization for the Owners Corporation to serve documentation on a lot owner via email, this is if the lot owner has provided the Owners Corporation with a valid email address.

It is essential that Owners Corporations are furnished with up-to-date contact details of Lot Owners.

The Residential Tenancies Act 2010

Changes in The Residential Tenancies Act 2010 become effective on 31 Jan 2011. These changes will affect both Owners and Tenants alike.

RBA Reprieve for December 2010

Based on the release of economic data last week showing that the growth in the Australian economy has fallen behind many of the world's advanced economies and consumer data released last week also showed the biggest drop in retail sales since July 2009.

Each 0.25% interest rate rise adds another ~$50 to the monthly cost of an average Australian mortgage. The official interest rate is now 4.75%.

Mortgage holders on variable interest rates are being charged a standard variable rate of around 7.83% by their lenders.

Rates will now remain on hold until at least February 2011.