Money Cash to boost land for housing in Sydney

05:00  17 may  2017
05:00  17 may  2017 Source:   MSN

Aussies struggling with home repayments

  Aussies struggling with home repayments An ANU poll shows that one fifth of Australian home owners are struggling to meet their home loan repayments and two per cent have fallen behind. The ANU poll found that 85 per cent of the 2,513 Australians surveyed in March expect housing prices to rise in the next five years.More than a quarter have already reduced their spending on luxuries to meet home loan repayments or rent, and nearly a fifth have cut back on essentials.

The federal government is going to offer western Sydney councils tens of millions of dollars to fast track housing developments in the region. Please use a supported version for the best MSN experience. Cash to boost land for housing in Sydney .

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Western Sydney councils will be offered cash incentives to speed up the release of land to build new housing.

Federal Treasurer Scott Morrison will on Tuesday announce the plan for a number of councils to apply for financial incentives, with the aim to build an extra 185,000 over the next 20 years, the Daily Telegraph reported.

Assistant Minister for Cities Angus Taylor says the total amount of funding available is still being negotiated but would be in the tens of millions of dollars.

Top performing fund manager is boosting cash and cutting property exposure .
Mounting housing risk in Australia and global volatility has pushed one of Australia's best performing fund managers to boost cash levels, and slash exposure to real estate investment trusts and mortgage bonds. Perpetual has boosted cash positions to a six-month high of 14%, whittled down residential mortgage backed securities holdings to 12% of total portfolio and REITs to 2.5%, Vivek Prabhu, the head of fixed income at the Sydney-based fund manager said. RMBS holdings made up 44% of the Prabhu's portfolio in 2010 and REITs accounted for 15% in 2014.

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