Share on facebook Share on twitter Share on linkedinConfidence has returned to the property market in a big way, according to new forecasts from Domain.Domain has forecast house and unit prices to increase in both 2020 and 2021. These forecasts cover Australia as a whole and also the seven biggest capital cities (with Darwin being excluded).The bullish forecast shows that the property market has really strengthened since this time last year, when prices were falling in many places, especially Sydney, Melbourne and Perth.For home owners who had been reluctant to list their property in 2019 – now might be a great time to finally put your home up for sale.For buyers who had been thinking about entering the market – you might want to move fast so you can get ahead of any future price rises.Whether you want to buy an owner-occupied or investment property, it’s important you get a mortgage pre-approval before you start making offers, so you know how much you can spend. Needing a great deal? Hit the button below to arrange a conversation with our loan specialists to find a deal that's best for your situation.Book a review todayWe partner with over 50 lenders so you can find the perfect solution FollowFacebookLinkedinDo you have questions about mortgages or loans? Ask us in the comments below … [Read more...] about Property price growth predicted across Australia
Property enjoyed strong recovery in late 2019
Share on facebook Share on twitter Share on linkedinProperty prices headed south in the first half of 2019, but bounced back big-time in the second half of the year.The national median property price fell 6.9% in the 12 months prior to 30 June 2019, according to CoreLogic.However, it rose 2.3% in 2019, thanks in large part to interest rate cuts in June, July and October.Australia’s two biggest cities were mainly responsible for the big turnaround in the second half of 2019.Sydney’s median price fell 9.9% in the year to 30 June, but rose 5.3% in the year to 31 December. Meanwhile, Melbourne fell 9.2% and rose 5.3% in the same period.The Hobart and Canberra property markets are currently at record levels in terms of prices. However, the other six capitals are below their peaks:Brisbane = 0.1% lower Adelaide = 0.2% lower Melbourne = 2.3% lower Sydney = 6.4% lower Perth = 21.4% lower Darwin = 31.8% lower2020 is a great year to buy Hit the button below to arrange a conversation with one of my loan specialists to find a deal that's best for your situation.Book a review todayWe partner with over 50 lenders so you can find the perfect solution FollowFacebookLinkedinDo you have questions about mortgages or loans? Ask us in the comments below … [Read more...] about Property enjoyed strong recovery in late 2019
Stock returning to the market but how fast is it selling?
Share on facebook Share on twitter Share on linkedinMore and more home owners are offering their properties for sale, according to new data from SQM Research.SQM has reported that while residential property listings in November 2019 were down 6.3% on the year before, they were actually up 6.3% compared to the month before.So while there was a shortage of sellers for much of 2019, it appears that home owners have become increasingly willing to put their home on the market.More property listings means more downward pressure on prices.In month-on-month terms, Hobart had the biggest surge in listings (by 11.7%), while Darwin was the only capital where listings fell (by 1.9%).In year-on-year terms, Canberra was the only capital city where listings increased (by 0.4%), while Sydney experienced the biggest decline (by 19.3%).SQM has also reported how quickly properties have been selling. Looking to buy a property? Hit the button below to arrange a conversation with one of my loan specialists to find a deal that's best for your situation.Book a review todayWe partner with over 50 lenders so you can find the perfect solution FollowFacebookLinkedinDo you have questions about mortgages or loans? Ask us in the comments below … [Read more...] about Stock returning to the market but how fast is it selling?
Booms, busts and everything in between
Share on facebook Share on twitter Share on linkedinAustralia’s capital city property markets are experiencing very different conditions.New property price statistics from SQM Research show our capitals can be divided into four different groups:Hobart remains Australia’s strongest market Sydney and Melbourne have bounced back Brisbane, Canberra and Adelaide are inching forwards Perth and Darwin continue to go backwardsSQM believes next year will be a better year for property than this year.Buyer numbers have been increasing in many parts of Australia, for two reasons:The Reserve Bank has cut official interest rates three times in the past six months Australia’s banking regulator (APRA) has made it easier for borrowers to qualify for home loansIf you’re in the market to buy in the next couple months it’s good to start planning early. Need a plan to buy a property? Hit the button below to arrange a conversation with one of my loan specialists to find a deal that's best for your situation.Book a review todayWe partner with over 50 lenders so you can find the perfect solution FollowFacebookLinkedinDo you have questions about mortgages or loans? Ask us in the comments below … [Read more...] about Booms, busts and everything in between
Housing turnover coming back from a historic low
Share on facebook Share on twitter Share on linkedinOne large factor that is often underreported when talking about the national property market slump is the percentage of turnover in the market - the percent of property on the market that sells.Recently released data by the RBA has shown that housing turnover is a 30 year low but there is good news on the way. With the election out of the way, lower interest rates and the start of the spring selling season the numbers are starting to rebound.Here’s some other key takeaways:Analysts claim one of the biggest reasons for the historic low was a low level of stock. Around 70% of housing turnover today is from existing property. Turnover from newly built housing is rapidly falling.If you’re looking to take advantage of buying conditions before the market might heat up again, I can help make sure you’re setup with the right loan. Let's talk property! Hit the button below to arrange a conversation with one of my specialists to find a deal that's best for your situation.Talk about property todayWe partner with over 50 lenders so you can find the perfect solution FollowFacebookLinkedinDo you have questions about mortgages or loans? Ask us in the comments below … [Read more...] about Housing turnover coming back from a historic low