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

Graeme Salt Broker 2, News Leave a Comment

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!

Graeme Salt Broker 2, News Leave a Comment

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 …

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

Graeme Salt Broker 2, News Leave a Comment

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

Graeme Salt Broker 2, News Leave a Comment

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 …

First Home Property Spike

Graeme Salt Broker 2, News Leave a Comment

The federal government’s first home loan deposit scheme is set to drive up prices in some segments but create value in the other property segments that do not qualify for government assistance Already 3,000 potential first homebuyers were registered by banks in the scheme’s first month –  January.  At Origin Finance, our conversations with CBA and NAB show a huge …

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 …