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Rents have surged over the past year, with houses outperforming units, according to SQM Research.Over the year to 20 May, average weekly rents jumped by 15.7% for houses throughout Australia and 7% for units. Houses also outperformed units in every capital city. Meanwhile, thanks to record-low interest rates, conditions favour buyers over renters.It’s cheaper to buy than rent 59.1% of three-bedroom houses and 83.8% of two-bedroom units throughout Australia, according to REA Insights.This analysis is based on the assumption buyers have a 20% deposit and property prices will grow by 3% per year over the next decade.Want to enter the market? I can help.Hit the button below to arrange a conversation with us 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 Conditions favour buyers as rents grow strongly

Electricity prices have fallen almost 9% since the middle of last year, resulting in large potential savings for households in eastern and southern states.That's the finding of Australia's competition and consumer watchdog, the ACCC.Retail electricity offers now available to households in NSW, Victoria, south-east Queensland, South Australia and the ACT are, on average, 8.8% lower than in June 2020, which equates to an average annual household saving of $126.Wholesale electricity costs have fallen due to an increase in renewable generation and a decrease in fuel costs.The ACCC is encouraging households to shop around and switch to cheaper plans.That said, electricity retailers are required to pass on cuts in wholesale power costs, as per laws that were introduced in June 2020.Consumers in NSW, south-east Queensland, South Australia, Tasmania and the ACT can use Energy Made Easy to compare offers. Victorian consumers can use Victorian Energy Compare.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. 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 Households could save $126/yr thanks to falling power prices

Were you one of the 121,000 people who took advantage of the HomeBuilder grant?If so, good news – the government has increased the construction commencement period, from six to 18 months.This is in response to unanticipated delays in the construction industry caused by Covid-related supply constraints.So even though grant applications are now closed, all applicants who signed contracts during the eligibility period, between 4 June 2020 and 31 March 2021, will receive this extension. HomeBuilder was designed to protect tradies’ jobs and stimulate the construction industry – and it was a spectacular success.Data from the Housing Industry Association shows a significant increase in new house sales since June 2020.That includes a 90.3% jump between February and March, as Australians rushed to take advantage of HomeBuilder before the program closed.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. 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 Government extends HomeBuilder construction commencement period

Australians with mortgages significantly increased their financial buffers last year, according to Reserve Bank of Australia data.As the graph shows, indebted homeowners now have an average of four months worth of expenses in the bank.That compares to less than two months for renters and 10 months for people who own their home outright. The average household doubled their savings rate last year, to 12% of income, according to the Reserve Bank.Those extra savings were used to pay down debt and/or increase financial buffers.At the same time, lending standards are “largely unchanged and remain robust”.In other words – borrowers have improved their individual financial positions while the banking system remains just as strong as before.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. 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 Borrowers and banking system in good health: RBA

With the property market running hot, mortgage lending is at historically high levels, according to the most recent data from the Australian Bureau of Statistics.Australians took out $28.6 billion of home loans in February – 1.8% lower than the month before but a massive 55.2% higher than the year before With so much demand for home loans right now, the system isn't functioning as smoothly as it usually does. So here are my top three tips for getting a loan in the current environment:Start early, because lenders are taking a long time to process applicationsShop around, because there are many great deals that aren’t being advertised or shown on comparison websitesTry hard to maintain a high credit rating, and fix any blemishes you might haveThe great advantage of using a broker is you’ll be covered in all three areas.A broker will know all the hush-hush special deals, be able to advise you on maintaining your credit rating and manage the time-consuming application process on your behalf.Book a free appointmentHit 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 How to get a great home loan in this red-hot property market

What you need to know : First meeting with mortgage broker Buying a home for the first time can be a real task! From house-hunting to palpating your wallet to finally getting to live into that, it's a long process. However, the whole process can be a little easy if you get a helping hand. Since we're talking about the assistance we all are well aware that it's none other than a mortgage broker who can make the process like a dream. Meeting your finance broker for the first time can be very existing as well as can be a nervous experience. After all, it's an opportunity to get hitched with the one who can really get cracking on turning your dream into reality. But meeting the perfect broker is not as you'll rub your shoulder in just one click, regardless you need to pitch in as well. So it’s important to do your homework before your first meeting. Since finding the perfect broker is just the beginning of the home buying journey, you need to kick off the start at the right point. Thus here are some tips to make your appointment a success. Understand Where you Stand Before you pitch into anyone to represent you, you need to analyse first where you stand. The initial meeting between a mortgage broker and you will focus on understanding your position and giving a clear picture of your position. You will need to figure it out first.The brokers might question your financial goals, how much you've set a limit of borrowing, and your ideal investment. Preplan when and where you want to buy a property, what suburb you've selected, how it will go along with your lifestyle and most importantly why. Therefore, it's always advisable to figure out your answer before your meeting so you can articulate your needs. And also will help your broker to give shape to your vision. Ready-build house Before you jump to a conclusion, weigh the benefit of buying a new 'ready- build house' and 'house and land package'.A ready build house privileges in saving stamp duty, low maintenance costs, faster process.Whereas, buying a house and land package profit in various ways like- you get to design your house, power to customise finishes, floor plans, and facades, and stamp duty saving. Stay Prepared with the Document Your mortgage broker might expect you to have your documents (two payslips or if you're self-employed then tax returns) prepared as much as you can. Furthermore, if you include paperwork like transaction histories, any other income and assets like shares, dividend income, other investments or anything which can help your broker to draw a clear picture of your financial condition. This information will make the process much easier for you, can help the broker to filter more accurate options and can provide a speed start to the process. Research about the broker you're Meeting This is another thing you can do to maximize the possibility of the meeting. Do your homework and filter out as much information you can from the sources, … [Read more...] about What you need to know : First meeting with mortgage broker

Many property investors are in a strong position right now, with five of Australia’s capital city rental markets titled heavily in favour of landlords.Hobart is leading the way, with a vacancy rate of just 0.6%, according to SQM Research. That means just 0.6 out of every 100 rental properties are vacant. That, in turn, means it’s very hard for tenants to find a property, putting upwards pressure on rents.Adelaide (0.7%), Darwin (0.7%), Canberra (0.8%) and Perth (0.9%) are also landlords’ markets.Conversely, Sydney (3.3%) and Melbourne (4.5%) are tenants’ markets.In Brisbane (1.5%), the balance of power is evenly split. Not only are rents rising in many parts of Australia, but so are property prices, which means landlords are enjoying a double win.If you’re thinking about buying an investment property, call me to discuss your options.Need finance?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 Most capital cities are now landlords’ markets

Looking for proof that Australia has bounced back from the Covid recession?  Well, the economy grew 3.4% in the September 2020 quarter and 3.1% in the December quarter, according to the latest Australian Bureau of Statistics data.That is the first time in recorded Australian history that GDP has grown faster than 3% in successive quarters.Nevertheless, the Australian economy still went backwards in 2020, by 1.1%, because of the negative March and June quarters. Speaking earlier this month, the governor of the Reserve Bank, Philip Lowe, said the back-to-back large increases in GDP had exceeded forecasts.“They reflect the success that Australia has had on the health front, the very large fiscal and monetary policy support, and the flexibility of Australians in getting on with their lives and businesses,” he said.“As a result, we are now within striking distance of recovering the pre-pandemic level of output.”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. 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 Australia sets economic growth record