"Many people fear that interest rates will go back to 7%. However, not all areas of the Australian economy are firing and while the economy is stable it is not in the interest of the Reserve Bank of Australia to risk a recession by making it harder for businesses and people to borrow."
"Whether it is for owner occupier property or for an investment, interest rates are still attractive so people should use them for carefully selected properties in well researched locations."
RateCity has released a comprehensive report highlighting the issues facing home buyers and property investors when they apply for a mortgage.
1. Interest rates cut across all categories, largely led by a 0.25 per cent cash rate cut in August.
2. Home loans: Home loan rates have continued to trend downward after two RBA cuts in 2016, and a total of four cuts since February 2015, following a period of 18-months with rates on hold. Shorter-term fixed rates are sitting significantly lower than variable rates on average, suggesting there may be some room for rates to go lower in the easing cycle. Longer-term fixed rates are above variable, which suggests the low rates won’t last for ever.
The REIV is advising buyers to look beyond the Melbourne CBD and inner suburbs for their first property purchase.
REIV CEO Geoff White said buyers are increasingly looking for value in regional Victoria.
“New growth areas provide buyers with the opportunity to enter the property market at a more affordable rate, yet still on a main VLine service into Melbourne.”
“Many of these areas, especially towns within commuting distance of the city, are also recording solid annual price increases and are poised for future growth.”
“Investment and infrastructure initiatives by both the state and federal government are likely to deliver further capital growth in these areas.”
Residential vacancy rates have tightened across the Sydney market led by Middle Sydney, according to data released by the Real Estate Institute of New South Wales.
REINSW Deputy President Brett Hunter said the August 2016 REINSW Vacancy Rate Survey saw Sydney with an overall vacancy rate of 1.8 per cent, down 0.1 per cent.
THE mortgage belt Epping precinct in Melbourne’s outer north has been dubbed one of Australia’s best “cheapie” real estate markets.
The report, by real estate guru Terry Ryder, labels these five areas smart places to invest in property, stating that each have been boosted by affordability, job opportunities and infrastructure spending.
In Melbourne and Sydney, investment property is in strong demand. Fueled by immigration, low interest rates and the poor performance of stocks and shares, property is the preferred investment vehicle for Australians.
A clearance rate of 79 per cent was recorded this weekend compared to 81 per cent last weekend and 74 per cent this weekend last year. There were 1254 auctions reported to the REIV, with 992 selling and 262 being passed in, 124 of those on a vendor bid. The REIV collected 96% of auction results last week with a total of 1289 results including 14 postponed and 21 withdrawn
With a federal election looming, Australians are increasingly unsure about whether to use negative gearing as a PAYE taxation reduction strategy.
At our first office consultation, the reason we decided to sign a membership with Accrue was because we felt the need to do something to look after our retirement. We felt no pressure by Accrue and were advised that we were not obliged to acquire any property shown
When we realised that investing in property wasn’t going to cost us hundreds of dollars every week, the decision to join Accrue Real Estate as members was easy. If not for them we would still be in the same rut of paying down our mortgage a bit at a time.
"Location, location, location" is an over used but often little understood summary of what to think about when buying real estate. What does "location" mean?
Most property buyers will need a bank loan to buy a home or investment property. Knowing how the banks work makes it easier to qualify for a home loan.
In simple terms, the Auction Clearance Rate (ACR) indicates how many homes have sold at auction across a state on any given weekend.