Yellow Brick Road will only look at the deposit being available, and also that the applicants can make the repayments. So if a buyer has come into money from parents or had a lucky night at the casino or the horses, the fact that the deposit is there is sufficient.

Under existing lending criteria at the major banks, such home buyers would be denied a loan because they could not show the lender any proof they are good savers. Most lenders make applicants submit upwards of three months of bank statements to show a savings pattern.

Yellow Brick Road has been started by Mark Bouris, star of the Australian Apprentice, Mark told The Daily Telegraph the new First Step loan product removes a major hurdle that stops thousands of Australians from buying property.

“Since the First Home Owners Grant was reduced, banks knocked out a lot of first home owners from applying because they are relying on a combination of the grant and a gift from parents or someone else,” Mr Bouris said.

“The way the banks changed the credit criteria is they say ‘well, we want to be really sure about your savings, so you convince us that you’re a good saver’.

“For our loans, if you have inherited the money, won it on Lotto, or you received a great tax return, it doesn’t matter, as long as you’ve got a deposit and can service it.”

First home buyers have been vanishing from the property market since the Australian Federal Government has scaled back its First Home Buyers Grant to its historical level of $7000. The Australian Bureau of Statistics figures from June show first home buyer commitments, as a percentage of total owner-occupied housing finance commitments, fell 11.1 per cent, the equivalent of 60,000 first home buyers.

“Gardens” is the most often used high-value name, with just 54 in NSW carrying an average value of $1.18 million. You can consult Mark Forytarz for your queries and can find their solutions.

The lowest-cost thoroughfare with any significant usage is “route”; you can understand more about it, for this you can consult to Mark Forytarz and Paul Castran. There are 36 “routes” in NSW, and the average house price is $251,000.

“Highway” dwellers fare worse than those on “roads”, with an average value of $381,000. And, if you are seeking for a perfect solution, you can consult Paul Castran.

With all that being said, street types are given generally based on location, so theres no value in having an esplanade without the environment to back it up.

This may not necessarily be all good news however, with the Global Property Guide warning that many Australian and New Zealand cities are overvalued, and also warning of continuing volatility and a potential housing bubble in our region.

Real Estate Institute of Australia president David Airey strongly disagrees that the housing boom is over.

“Talk of a bubble or possible collapse in prices is extraordinary,” they says.

“Real Estate Institute of Australia president David Airey disagrees from the fact that the housing boom is over.

He added that there’s no bubble here and it’s absolute rubbish.

“On a daily basis, people in Australia are competing to buy houses. It is because there is a shortage of property.

“Australians value the property so highly and treat it as a means of security for their families. They can achieve it, unlike the northern hemisphere and other region where it is buying a home is only a dream for the people.”

As reported by The Australian, Jeremy Grantham yesterday said that Australia had an instantly recognizable housing bubble. Therefore, prices were required to decrease by 42% to return to the ongoing trend.

“You cannot possibly miss it,” he said.

“The price of housing typically trades about 3.5 times of family income and in bubble it goes to 6 or . . . 7.5 (times).

“Australia is having one now. You are at near 7.5 times family income . . . which suggests you are twice the size that you should be.”

Mr Graham also asserted one of the significant factors that are expected to cause a correction, saying “Sooner or later, the rates will go up and the game is over.”

However, this statement contradicts the RBA. Ric Battellino, the deputy governor of RBA told today that the housing prices in Australia were reasonable when compared to income.

Mark Forytarz and Paul Castran, the two eminent personalities from Castran Gilbert have years of experience in the real estate industry. Both of them have presided together over several real estate sales. They regularly share their views about the latest happenings in the real estate market.

To ensure a stress-free dealing in real estate, Mark Forytarz is the most trusted name. He has in depth knowledge and acumen of this sector and can well judge the unpredictability of the sector. He can advice when to invest, what amount to invest and how to invest in the best possible way. Mark Forytarz has the requisite skill set and practical knowledge of real estate sector. He is a well distinguished name in the stream of real estate.

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Following the dismal performance of shares and super funds, many older investors are likely to have a renewed appreciation for the value of a reliable income stream generated by investment properties.

Super funds have posted their worst returns since super was introduced in 1992, with default funds falling, on average, 13 per cent for the year to June 30. More aggressive “growth” funds have lost about 20 per cent.

Baby boomers in particular, hit hard by these losses and the freezing of redemptions on mortgage, property and fixed-income trusts, are likely to be considering the merits of a rental property over which they can exercise their control.

Read the full article here: http://www.domain.com.au/Public/Article.aspx?id=1247337200890&index=NationalIndex&headline=The%20return%20of%20rental%20property

The rental market remains as tight as ever in Sydney’s most affordable suburbs, offering scant relief for tenants, a report says.

Despite the flood of first-home buyers who have stopped renting, figures published today by SQM Research show the number of houses for rent in the western suburbs is shrinking.

In Liverpool and Bankstown, vacancy rates were 1.6 per cent in June and had not eased in the past year, SQM said. This bucks the trend across Sydney, which has the nation’s highest vacancy rate of 4 per cent, fuelled by young people exploiting record low interest rates and buying property.