KY Accountancy

24/06/2026

Capital cities hit new auction record

By Gerv Tacadena 28 MAR 2018

Australia's capital cities were on a roll last week as they hit the biggest period of auctions ever seen in the country.

According to CoreLogic data, a total of 3,967 auctions were held across the combined capital cities a week before Easter, exceeding the previous highest week on record over the week ending 30th November 2014 when 3,908 auctions were held. Last year, the pre-Easter week recorded a total of 3,517.

"The uplift in activity is what has historically been seen in the lead up to the Easter period slowdown, although compared to the pre-Easter week last year auction volumes were significantly lower than this week," CoreLogic said.

In Melbourne, 2,078 homes were taken to market, making it a record busiest week in CoreLogic history. It has surpassed its record over the week ending on 29 October 2017, when 1,983 auctions were held.

The table from CoreLogic below shows the total auctions in other capital cities:

24/06/2026

Quotes of the day

Swallow your pride, you will not die, it’s not poison - Bob Dylan

24/06/2026

'Cowardly' and 'cruel': Keating and Rudd unite in attack on Morrison Top business news for you selected by KY

Two former Labor prime ministers have launched a coordinated strike on what they say is a Coalition plan to dump next year's increase in compulsory superannuation contributions.

23/06/2026

Understanding which home loan features are right for you

Loans are by no means ‘one size fits all.’ Different loan types suit different age groups, different living situations and even different attitudes to money.

A common trap some home-owners fall into is to consider a mortgage ‘set and forget’. You did your research, shopped around, found the right option and now you’re reluctant to revisit the process – even if your personal circumstances have dramatically changed.

Before you start shopping around for a new loan, or an upgrade to your old loan, it’s worth knowing a little bit about the options available. The three most common differentiators are variable rates, fixed rates and combo rate loans:

A variable rate loan offers greater flexibility than a fixed rate loan and will appeal to you if you don’t want an interest rate to be locked in for a set term. Often with variable rate loans, you can also redraw or make additional payments electronically at no cost, so you can pay off your home loan sooner and get ahead.

A fixed rate loan is right for you if you need greater peace of mind, as you will have the certainty of knowing what your repayments will be during the fixed rate term. You can choose different terms on a fixed rate loan – often between 1 to 5 years, depending on what suits you.

Combo rate loans offer both the flexibility of a variable rate and the certainty of repayments offered by a fixed rate. Like with a variable rate loan, you will have the flexibility to make additional repayments electronically at no cost to the variable rate portion.

You could also consider purchasing a white-label loan. White-label loans are increasingly popular – but for those unfamiliar with the term it can be confusing. A white-label loan is essentially a home-branded loan, much like the home-branded products you see in the supermarket aisles. Like these products, white-label loans aim to deliver many of the same great features as bank-branded home loans, but for a lower cost to the customer.

You can access different types of white-label loans – whether variable, fixed or combo. White-label products are known for being high quality, low-cost and flexible. They are particularly suitable for home-buyers looking for a simple, straightforward product as through white-label you can have access to the loan-features you need, (like redraw, debit card access and a customer care facility), and you don’t have to pay for bells and whistles you won’t use.

If you’re not sure which of these options sounds right for you, mortgage brokers can provide real value to customers who need a helping hand to make this important decision. Because brokers have access to a myriad of loans from a range of different lenders – you can receive independent, unbiased advice based on their expertise and experience in the industry.

23/06/2026

Quotes of the day

Very little is needed to make a happy life; it is all within yourself, in your way of thinking - Marcus Aurelius

23/06/2026

What your boss can and can't ask you to do to help their business survive coronavirus Top business news for you selected by KY

Can your boss freeze your pay, cut your hours or make you take leave? Do they need to get your agreement to do it? We look at staff cost-cutting, coronavirus style.

22/06/2026

How redraw works and why it’s a handy loan feature

The redraw facility explained

A redraw facility lets you make additional repayments to reduce your variable rate home loan balance and save on interest. If you pay more than your minimum scheduled repayments, then you’ll have money available to redraw from your home loan.

The redraw facility is a common feature of many home loans. It’s not available, though, on construction loans and only some lenders allow it for fixed rate loans.

You can redraw funds if, and when, they are needed, or you can keep the funds in your home loan to pay off your principal faster. The amount available for redraw is the difference between what you have paid and how much you were required to pay, less one month’s scheduled repayment.

Accessing redraw

You can check your loan account online to view your available redraw amount at any time. Alternatively, you can call your home loan customer care team and ask them to check for you.

You can withdraw your funds from certain ATMs depending on your lending provider, but this may attract certain fees and come with restrictions on minimum amounts.

What happens after using redraw?

After you redraw money from your home loan, you continue to make your regular repayments as normal. However, be aware the interest component of the repayments you make will increase since you’re now paying interest on a higher loan principal amount.

What are the benefits?

Like an offset account, a redraw facility can help reduce the total interest paid on your loan and shorten the life of the loan. And, of course, when you need some cash it’s easily accessible.

Depending on your lender, additional payments can be made at no extra cost and redraw funds can be accessed at any time.

When comparing loans and choosing the option that best suits your financial needs, remember to consider the redraw facility.

22/06/2026

Quotes of the day

You cannot find peace by avoiding life - Virginia Woolf

22/06/2026

'Dangerous' data breach exposes tens of thousands of NSW driver’s licences online Top business news for you selected by KY

Transport for NSW is investigating after a cloud storage folder contained back-and-front scans of thousands of NSW licences alongside tolling notices hosted on Amazon's cloud service.

19/06/2026

Many Aussies don’t understand the most commonly used mortgage terms

A new survey, commissioned by State Custodians Home Loans, indicates that many Australians don’t fully understand the various commonly used home loan terms.

The survey, conducted by Galaxy Research from October 12-15, 2017, was administered online amongst a nationally representative sample of 1,006 Aussies aged 18 years and older.

One in five people (21%) admitted they did not fully understand any of the 11 key property terms put to them, and only 6% of respondents said they confidently knew what all the terms meant.

“Understanding financial terms can sometimes feel intimidating,” said Joanna Pretty, general manager at State Custodians. “However even if you’re not entirely clued up about financial terms, a trusted adviser should always be able to patiently explain things to you in simple and easy-to-understand language and guide you through the process.

“If you honestly don’t quite understand what an offset account is, or what an interest rate entails, then don’t be afraid to ask. Lenders shouldn’t expect you to be an expert.”

The most commonly understood terms were interest (68%), principal (48%), refinancing (48%), line of credit (44%), and redraw facility (43%).

Fewer understood some of the most widely used property terms, such as offset account (36%), comparison rate (36%), lender’s mortgage insurance (33%), and bridging loan (32%).

The least familiar terms for respondents were split loan (20%) and portability (14%).

Thanks to the internet, more people now have access to basic home loan knowledge. “The more you make time to research some of the terms, the more confident you will be going through the process of acquiring or renewing your home loan,” Pretty said.

Women are less knowledgeable about financial terms, scoring lower than men in every one of the 11 categories. A worrying 25% of women admitted they understood none of the terms compared to 17% of men.

Pretty said the big danger of not fully comprehending money terminology was that it can leave people under the mistaken belief that they’re in a better financial situation than they really are.

“The best advice would be to read up a bit before you contact a lender and seek out a lender who speaks in honest and simple terms,” she said.

- By Michael Mata from YOUR MORTGAGE