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Property prices may go up or down in the short-term, but history suggests they increase in the long-term.That’s the key takeaway from a CoreLogic analysis of property prices over the 30 years to July 2022.Australia's median property price increased 382% during that 30-year period.Houses outperformed units (453% v 307%) and metro locations outperformed regional locations (409% v 294%).Crucially, property prices didn’t grow so strongly because there were never any downturns; they grew strongly despite regular downturns along the way. “Over that 30-year period, we have seen six distinct cycles of growth and an equal number of cycles of decline (including the current downswing) across the national index,” according to CoreLogic.“Each of the upswings and downturns have been characterised by different environments and catalysts of change such as taxation policy, monetary policy decisions, economic shocks, fiscal stimulus and broader economic conditions.”While past performance is no guarantee of future performance, history suggests that homeowners who purchase quality properties and hold them for the long-term enjoy significant capital growth.Contact me if you need a home loan. Hit the button below to arrange a conversation with one of my loan specialists to find a deal that's best for your situation. Chat to us today We partner with over 50 lenders so you can find the perfect solutionFollow Facebook Linkedin Do you have questions about mortgages or loans?Ask us in the comments below … [Read more...] about Property prices increased 382% over the past 30 years

There are still a lot of active buyers in the property market, judging by the latest home loans data from the Australian Bureau of Statistics.Borrowers signed up for $28.4 billion of new home loans in July. That was 11.3% lower than the previous year but 47.3% higher than the average over the previous 15 years.So while conditions are much more buyer-friendly than they were during the recent property boom, there’s still quite a bit of buyer competition, especially for quality homes. Meanwhile, refinancing activity is close to record-high levels.Borrowers refinanced $17.9 billion of home loans through new lenders in July – which was not only 7.6% higher than the year before but also the second-biggest refinancing month in history.With interest rates rising, many people realise how important it is to be on a lower-rate loan, so they’re shopping around.I’ve helped many people refinance, and I can help you too. Get in touch so we can discuss your options.Reach out if you want to refinance.Hit the button below to arrange a conversation with one of my loan specialists to find a deal that's best for your situation. Chat to us today We partner with over 50 lenders so you can find the perfect solutionFollow Facebook Linkedin Do you have questions about mortgages or loans?Ask us in the comments below … [Read more...] about Home loan activity falls but remains well above long-term average

Selecting the best mortgage plan can be really draining.For starters, it is not going to be easy to search through all the various pamphlets and schemes to select the one that best suits you.Secondly, every potential borrower wants to know the interest rate, the risks involved, and many more facts before finalizing one.All this can be pretty hard for anyone looking for a mortgage loan. Now imagine how hard it would be for the first time home buyers.They have absolutely no idea about the various schemes in the market or how to select the best one that is suited to their needs.So, here is a list of some mortgage loans for first home buyers Conventional mortgageA conventional mortgage means a mortgage that is not backed by a government agency. So who funds these conventional mortgages? The conventional mortgages are usually funded by private lenders like banks or credit unions. Conventional mortgages have higher interest rates than the  government backed mortgages, such as the Federal housing loans.Jumbo mortgagesJumbo mortgages are, in simple words, nonconforming conventional loans. That is, jumbo mortgages are the apt option for you if you are looking to buy a large house. In fact, Jumbo mortgages are usually sought by people who want to buy a luxurious house in an expensive area.Government-insured mortgagesThese are unique qualification procedures to obtain the government insured mortgages. These loans are aimed at low to mid income buyers. This is because of the flexible qualification required for the mortgage and the down payment criteria.Federal housing loansThese loans are guaranteed by the federal housing administration. Federal housing loans are only be used for primary residences. If anyone has had some credit issues in the past, then a Federal housing loan will be ideal.Do you live in Sydney? Are you looking for the best mortgage loans? If yes, you have to look no more. We at Freshwater Financial Services can help you select the best mortgage loan. All that you have to do is contact us here.Need a construction loan? I can help. 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 today We partner with over 50 lenders so you can find the perfect solutionFollow Facebook Linkedin Do you have questions about mortgages or loans?Ask us in the comments below … [Read more...] about 4 best mortgage loans for first time home buyers

Most taxpayers can now lodge their tax returns, as more than 80 million pieces of information are available in pre-fill. The Australian Taxation Office said much of the information it collects from employers, banks, private health insurers, share registries and other institutions has now been loaded into people's tax returns."While having this data ready to go cuts down time, taxpayers still need to check that their details are accurate and ensure any other information that hasn't been pre-filled is manually added," according to the ATO."For example, income from rentals, side hustles and the Pandemic Leave Disaster Payment from Services Australia will need to be manually added."Your employer will provide an income statement or payment summary that shows the amounts received and the tax withheld. If you had more than one employer during the 2021-22 financial year, you will have more than one income statement. Before lodging, make sure your income statement is marked as 'Tax ready' by your employer. Once you've lodged, you can monitor the progress of your tax return through ATO online services, the ATO app or by phone.Book a free appointment.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 today We partner with over 50 lenders so you can find the perfect solutionFollow Facebook Linkedin Do you have questions about mortgages or loans?Ask us in the comments below … [Read more...] about ATO says most Australians can now submit their tax return

The government's new climate change legislation will have significant implications for Australian real estate, assuming it gets approved by Senate. The Climate Change Bill 2022, which has been approved by the House of Representatives, will enshrine into law an emissions reduction target of 43% from 2005 levels by 2030 and net zero emissions by 2050. Real Estate Institute of Australia president Hayden Groves said that while the legislation does not specifically regulate residential real estate, he expects developers will pay more attention to energy efficiency measures and will also become more transparent about the energy efficiency of their buildings."And with that, the government hopes, so too will consumer preference and markets. Already, there is an emerging body of research that shows that homes demonstrating sustainable features currently command a premium."Mr Groves also noted that the government had called its emissions reductions targets a "floor, not a ceiling", which might lead to further sustainability policies or investments in the future.Contact me for interest rate guidance.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 today We partner with over 50 lenders so you can find the perfect solutionFollow Facebook Linkedin Do you have questions about mortgages or loans?Ask us in the comments below … [Read more...] about Property industry expected to play its part in emissions reductions

While variable interest rates are continuing to rise, and will almost certainly increase further, some lenders are actually cutting their fixed rates.Lenders started increasing their variable rates in May, once the Reserve Bank of Australia (RBA) began increasing their cash rate. However, lenders increased their fixed rates much earlier, in anticipation of future rate hikes.RBA data shows that interest rates for fixed loans:with terms greater than three years have been trending up since December 2020with terms of three years or less have been trending up since November 2021Recently, some lenders have concluded that the RBA will not increase the cash rate as much as they originally expected. As a result, they feel some of their fixed rates were moved too high, which is why they're now reversing course and making some reductions.Unsure whether to go with a fixed loan, a variable loan or a split loan (which is part fixed and part variable)? I'll be happy to talk you through the pros and cons of each option.Contact me for interest rate guidance.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 today We partner with over 50 lenders so you can find the perfect solutionFollow Facebook Linkedin Do you have questions about mortgages or loans?Ask us in the comments below … [Read more...] about Why some fixed rates are falling

Buyers are increasingly enjoying more choice, with a growing number of properties listed for sale in many parts of Australia.The number of for-sale properties across the country in July was 0.6% higher than the month before, according to PropTrack.Even better, listings in July were 4.9% higher than the year before, which is the largest year-on-year increase since 2010. As always, conditions vary among the capitals cities:Hobart listings in July were 70.0% higher than the year beforeSydney up 30.7%Canberra up 24.8%Darwin up 14.4%Melbourne up 10.0%Perth up 4.6%Brisbane down 0.7%Adelaide down 3.6%If you want to buy a property, it's important you contact me for a pre-approval before you begin the searching process. That way, you'll know your budget. Also, vendors may be more likely to approve your offer if they know you have finance in place.Want to buy? Let's talk.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 today We partner with over 50 lenders so you can find the perfect solutionFollow Facebook Linkedin Do you have questions about mortgages or loans?Ask us in the comments below … [Read more...] about Buyers enjoying more choice as listings numbers rise

Planning to buy a house is a big step in your life. So, you must make the right decisions along the way.Do you have trouble deciding which is the best home loan plan for you? Or are you afraid of making many mistakes in the process? We have prepared for you seven mistakes that first-time home buyers usually commit (So that you can stay away from them)Choosing the wrong home loan If you're a first-time home buyer, it would be pretty hard and confusing to choose the best home loan product in the market. So, make sure you choose the home loan that caters to your needs. Make sure you research correctly with all available resources before finalizing a loan plan. Selecting a home loan plan that doesn't suit your needs can, in the long run, delay you off paying your mortgages.Do not borrow more than you canYou may want to live in the most expensive house in your locality, however, you must ensure you are not borrowing beyond the limit. No matter whatever your lender says, if you are not confident of repaying the loan, then don't borrow more than you can affordResearch and get the best interest rateYou must research properly and find out the home loan with the lowest interest rate. Finding a relatively lower interest rate can save you thousands of dollars in the long run. Don't take a loan under your current bank simply because you have long been associated with them as a customer. Make sure you research thoroughly.Don't underestimate the other costsOne common mistake first-time home buyers make is underestimating the additional costs involved. The initial deposit is not the only way you lose money. Your home loans will not cover stamp duty, bank charges, or pest control. Hence make sure you have cash for all of them.Not viewing as many properties as you should.Make sure you thoroughly research the place you are going to live in. Make sure you have compared the prices in that area where you want to buy the house and then, eventually, apply for the loan. Not researching the neighborhood and price can cause you lots of trouble. Also, try to view the house in person and not through pictures.Do not apply when you are not financially stable.Make sure that you do not apply for loans when you are financially not stable. That means when you are in your probation period or having a career change. Make sure that you have the means to pay back before taking the loan.Go house hunting after you secure the loan and not vice-versa.Make sure you decide which home loan you take, and finalize the amount before you go house hunting. House hunting will help you remind yourself of the budget and help avoid overspending.Are you searching for your dream home? Do you want to know about the best home loan for you? Or Are you looking for the best mortgage brokers in Sydney? If yes, our expert mortgage brokers can help you. Just drop us a message at freshwaterfs.com.auNeed a construction loan? I can help. Hit the button below to arrange a conversation with one of my loan … [Read more...] about 7 Mistakes to avoid when taking residential loans