Big Housing Market Boost

Graeme Salt Broker 2, News Leave a Comment

For six months only, the Federal Government is offering a major boost for owner-occupiers. HomeBuilder provides eligible owner-occupiers (including first home buyers) with a grant of $25,000 to build a new home or substantially renovate an existing home. The grant can be added towards new builds, which will be capped at $750,000 and renovations, which can cost anywhere between $150,000 …

Waiting for property prices to drop before you buy? You may be disappointed.

Graeme Salt Broker 2, News Leave a Comment

Author – Graeme Salt During a recession, prices drop – right?  Not necessarily. The last time we had unemployment numbers this bad, Sydney experienced 13 per cent growth the following year. Following the GFC, Sydney prices increased 16 per cent in 2009. Property prices have multiple drivers and, today, not all are pointing South.  Some of the key drivers are …

Australians Confident in Property Market Despite Covid 19

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By Graeme Salt …so Australia is coming out of its Covid 19 hibernation in feeling much more confident than we expected.  What does it mean for those looking to buy property? In signs of confidence in the property market, this weekend saw clearance rates almost at the optimistic levels in our property markets before Coronavirus hit us – many of …

Just as the property market was getting into its stride, Coronavirus arrived!

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Thankfully the banks and government appear to have stepped up to the plate – one economist calculates that the total economic stimulus offered by the government is the equivalent of an 11 per cent boost to the economy. And the banks have announced a small business assistance packagewhich  will apply to more than $100bn of existing small business loans and …

Housemate horror: How your flatmates affect your mortgage rates

Graeme Salt Uncategorized Leave a Comment

Kilian Padstow| The New Daily| 25 February 2020 https://thenewdaily.com.au/finance/your-budget/2020/02/25/housemate-credit-rating-mortgage/ Share house living is common practice among money-conscious people, but research shows picking bad housemates could cost Australians almost $180,000 in later life. The exorbitant expense arises because renters typically share the responsibility for paying bills and rent on time. This means if one person misses the due date – or …

‘Fear of missing out’ back for Sydney first-home buyers as prices rise

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Kate Burke| Domain| 23 February 2020 https://www.domain.com.au/news/fear-of-missing-out-back-for-sydney-first-home-buyers-as-prices-rise-932720/ First-home buyers are pressing ahead with their dreams of home ownership, rushing to buy in inner and middle-ring suburbs as rapid price growth threatens to push them further out of reach. The number of first-home buyers jumping into the market and how much they are prepared to borrow has soared in recent months, …

House prices set for double-digit growth: AMP

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Euan Black| The New Daily| 27 February 2020 https://thenewdaily.com.au/finance/property/2020/02/27/house-prices-growth-amp/ Property prices are expected to rise 10 per cent over 2020 as low interest rates entice buyers back into the market. The pace of growth will ease in the second half of the year as more and more housing becomes unaffordable for increasing numbers of people. Faced with weak wages growth …

Different Banks Look for Different Things When Considering your Home Loan Application

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Getting the best mortgage is no-longer a one-size-fits-all issue – and if Australians want a loan, they need to understand what banks are looking for in a mortgage applicant. Every lender is looking for different things in an ideal borrower and, as a result, some lenders are offering really sharp deals for their target market.  If you have lots of …

It’s Official: RBA says you are paying too much interest

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This week, the Reserve Bank of Australia (RBA) produced research showing “older loans typically have higher interest rates than new loans.” Typically the difference was 0.4 per cent – on a $500k loan that equates to paying an extra $2,000 interest payments a year. The RBA concluded “existing borrowers who are able to refinance with another lender or negotiate a …

The RBA has kept the official interest rate on hold at its February meeting, but speculation is rife when the next cut is coming

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Jack Derwin| Business Insider| 4 February 2020 https://www.businessinsider.com.au/rba-february-rate-decision-cut-hold-2020-2 Interest rates are on hold for now, but another cut is likely coming. The Reserve Bank of Australia (RBA) announced on Tuesday that it had kept the official interest rates at 0.75% at its February meeting. “With interest rates having already been reduced to a very low level and recognising the long …