Why spring 2018 is a great time to buy a home

Why spring 2018 is a great time to buy a home

Tweet With the property market starting to head downwards and interest rates on the move upwards you could be forgiven for thinking that now isn’t the best time to buy, but we are actually in a very favourable market for buyers. Here’s why. Weaker property markets After years of strong property demand in cities like Sydney and Melbourne things are finally starting to turn around for buyers. Sellers have definitely had the upper hand in property negotiations over the last few years, which has kept a lot of buyers on the sidelines. Now that...

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More interest rate rises from the big banks

More interest rate rises from the big banks

Tweet The Reserve Bank may have kept the official cash rate on hold at their September meeting for the 25th consecutive month, but the same certainly can’t be said for the major banks.  Westpac was the first of the major banks to lift their variable rates for both owner occupiers and investors (by 14 basis points) and now they have been followed by both ANZ and CommBank. ANZ have announced that they will be lifting their variable rates for home buyers and investors by 16 basis points, taking effect from September 27, 2018. CommBank have...

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Are you prepared for higher interest rates?

Are you prepared for higher interest rates?

Tweet Westpac has become the first of the major banks to lift its variable rates, and it might only be a matter of time before the others follow suit. The bank announced that it’s raising its variable rates for both owner-occupiers and investors by 14 basis points, effective from September 19. This will affect new and existing customers. Meanwhile, the Reserve Bank of Australia (RBA) has kept its official cash rate at the record low of 1.5 per cent since 2016 and there hasn’t been a rate hike for 8 years. Lenders have been moving their...

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First home buyer activity at highest level in years

First home buyer activity at highest level in years

Tweet First home buyers are making a dramatic comeback, with loans to the buyer group hitting a six-year high. The latest ABS Housing Finance figures reveal that first home buyers made up 18.1 per cent of all new mortgages given out during June. The volume of first home buyer occupier lending went up by 11.4 per cent in the 12 months to June, likely spurred on by new government incentives brought in at both a state and federal level last year. Housing Industry Association senior economist Shane Garrett has noted other reasons why first home...

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Falling Aussie dollar could lead to interest rate hike

Falling Aussie dollar could lead to interest rate hike

Tweet The Reserve Bank of Australia will be sitting for its monthly meeting tomorrow and the question on everyone’s mind is whether interest rates are finally going to change after a record long period of holding steady. While most believe that the official cash rate will remain on hold for August at least, there is a warning from a Moody’s Investors Services report that a rise is imminent. The report said that ongoing falls in the Australian dollar could put pressure on the Reserve Bank to lift interest rates to combat price...

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Strong demand for property despite cooling prices

Strong demand for property despite cooling prices

Tweet Property prices may be cooling across the country, but that certainly hasn’t slowed down buyer demand. In fact, it seems to be having the opposite effect. The number of home loan approvals went up by 1.1 per cent to 53,037 from April 2018 to May 2018, according to the latest figures from the Australian Bureau of Statistics. This shows that despite property prices falling more people are committing to home loans, perhaps because they are finally able to pick up a bargain. Data from the ABS also showed that it’s not first home owners...

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