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December 2018’s cheapest owner-occupier home loans

Posted: 10 December 2018 12:48 pm News

house sale calculatorHousing affordability is up across Australia, putting buyers in the driver's seat.

There's a silver lining hiding in the recent housing downturn. Amid falling property values, homes are becoming more affordable.

The recent Adelaide Bank/REIA Affordability Report for the September 2018 quarter has found that the proportion of income required to meet home loan repayments fell to 31.4%, down 0.8% from the previous quarter.

"The improvement in housing affordability nationally is a welcome finding," Adelaide Bank head of third party banking Darren Kasehagen said. "Victoria continues to lead with the highest number of first home buyer loans and housing affordability improved most in NSW for the September Quarter."

Affordability improvements have been driven by falling prices, but home loan rates are on the rise. With this in mind, it's crucial to compare home loans and make sure you're getting the best deal.

We've put together December's cheapest owner-occupier home loans available through Finder. To ensure these loans are helpful for the average borrower, we applied the following criteria:

    • All loans listed are principal and interest loans for owner-occupiers.
    • All loans have a maximum loan to value ratio (LVR) of at least 80%.
    • Each loan has a minimum loan amount of no more than $200,000 and a maximum amount of $500,000 or more.
    • Each fixed rate is for a term of three years.
    • We've excluded line of credit, guarantor and construction loans.
    • Rates are correct as of 10 December 2018.

*Our cheapest variable and fixed rate owner-occupier home loans round-up is a monthly article that features the cheapest loans in finder.com.au's database. The rates and other information in this page are correct at the time of publication and are subject to change. There may be cheaper loans on the market than the ones listed here.

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