Bushfires to have a positive economic impact

Graeme Salt Broker 2 Leave a Comment

Economic growth will take a 0.3 percentage point hit over the December and January quarters due to Australia’s bushfire crisis, according to the latest analysis from Goldman Sachs. But could it be the bushfires actually have an economic stimulus? Devastation is rightly used to describe the impact on those individuals and communities affected by the fires. But could they have …

Property Growth in 2020?

Graeme Salt Broker 2, News Leave a Comment

Author – Graeme Salt This time last year, one economist was predicting Australia would have the world’s biggest house price declines.  Yet, 2019 has ended with price growth almost at record peaks and many wondering whether this growth will continue into 2020. Some economists have gone so far as to argue that next year’s average growth will be 11 per …

Interest Rates to Remain Low – But Not Too Low: RBA

Graeme Salt Broker 2, News Leave a Comment

Author – Graeme Salt Australia is unlikely to see “negative” or “below-zero” interest rates.  At the same time, with wage growth at record lows, interest rates are likely to be at moderate levels for some considerable time. That is the conclusion of two recent speeches from the Reserve Bank of Australia (RBA) In a speech to the Australian Business Economists …

5 Tips to Beat the First Home Stampede

Graeme Salt Broker 2, News Leave a Comment

Author – Graeme Salt First Home Buyers are set to rush to the market thanks to a new government scheme which goes live in a few weeks. But with the scheme only available for 10,000 homes a year, Australians are being encouraged to get their act together to avoid being pipped to the post. The First Home Loan Deposit Scheme …

Property Demand Exceeds Supply – Price Rises

Graeme Salt Broker 2, News Leave a Comment

Sydney and Melbourne are expected to have 8m inhabitants each by 2050. Where these people will live will have a huge impact on our property markets. Increasingly, Australians are choosing to live in apartments; in fact the number of apartment dwellers has increased by 78 per cent in the past 25 years. But some parts of Australia are allocated for …

Reserve Bank: Borrowers Pay Less

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Author: Graeme Salt Reserve Bank analysis shows that more Australians are getting a better deal on their home loans, despite banks being under fire for not passing on interest rates in full. That is because lenders are forced to respond to increased competition. It also shows “very few” borrowers actually pay the Standard Variable Mortgage Rate (SVR), with the average …

Big Banks Have Ripped $6bn off Aussie Borrowers. Here’s how you can get your money back

Graeme Salt Broker 2, News, Uncategorized Leave a Comment

The margin between the rates banks charge loyal customers and those they charge to entice new customers has almost doubled since the Reserve Bank of Australia started cutting rates in June New research shows that the gap in the rate offered to new customers, compared to that charged to existing customers, has blown out to 0.79 per cent, from an …

Why it just got easier to get a loan

Graeme Salt Broker 2, News Leave a Comment

This week saw major changes that will make it easier for Australians to get a mortgage. The government told banks to be more generous in their assessment of loan applications Westpac reduced the interest rate it uses to assess a loan; and The RBA indicated more rate cuts were on the way Prime Minister Scott Morrison recently warned banks to …

Buy Now – Pay Later?

Graeme Salt Broker 2, News, Uncategorized Leave a Comment

Is now a good time to buy?  The banks are lending us more, loan repayments have dropped and house prices appear to have stopped falling. But rate cuts happen for a reason and the global economy seems to be spluttering – partly driven by fears of a trade war. Historically, there have only been two causes of recession in Australia; …

Property spike or dead-cat-bounce?

Graeme Salt Broker 2 Leave a Comment

So, you have got extra cash in your pocket courtesy of rate cuts and tax cuts – what do you do?  Many Australians are due to receive $1,080 cash back from the Tax Office over the next few weeks while recent interest rate cuts mean that someone on a $400,000, 30-year loan, will save $1,259 a year.  But what will …