Market Essentials - June 2018

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Market Essentials - June 2018

In news this month, AMP Capital economist Shane Oliver has stated that he is not expecting interest rates to change until 2020, a view increasingly supported by actions from the RBA who are looking to maintain a balance between economic growth and a cooling property market.

This is good news for those wanting low mortgage rates, with young Australians still very keen on buying property - ING’s Millennial Homeownership Report finding three quarters of 22-37 year olds are ready to make substantial sacrifices to save for a home beyond just forgoing luxuries.

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Overseas Demand for Australian Property Falling

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Overseas Demand for Australian Property Falling

Historically Australian government strategy, implemented via the FIRB, has been to funnel foreign investment in real estate into creating more housing stock. According to the report, that was the case this financial year with 85% of approvals being for new dwellings or vacant land for development. But we also know that there have been problems with compliance with this law due to poor oversight - many overseas buyers were simply ignoring the guidelines and buying local real estate anyway.

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10 Things Sunshine Coast

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10 Things Sunshine Coast

45% of the new full-time jobs on the Sunshine Coast over the last five years have been in construction. Across all employment types, the Sunshine Coast saw full-time jobs losses last year of 210 and a 1,155 fall in construction positions. The Sunshine Coast is creating jobs but not necessarily full-time ones. This will have an impact on what type of housing is needed and where it is located.

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Market Essentials - May 2018

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Market Essentials - May 2018

In this month’s edition, the real estate slowdown across the country continues, with Domain Group data showing national property prices slumping 1.2% in the 3 months to March. Over the year however, prices were up 6.3% on CoreLogic data, with Tasmania taking out top spot for six of the 10 most sought-after suburbs in the country.

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Market Essentials - April 2018

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Market Essentials - April 2018

In this month’s news, the Reserve Bank of Australia has broken a record for the longest stretch without an interest rate change, with rates on hold at 1.5 per cent for the 18th consecutive meeting.  And a new study from the Australian Housing and Urban Research Institute has found capital gains tax discounts and negative gearing benefits are “heavily skewed” towards affluent Australians. It pushes for a move towards a progressive rental deduction where sophisticated investors are not given as significant tax concessions.

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Brittanica or Mark Twain?

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Brittanica or Mark Twain?

While the arrangement of finance is central to the process of mortgage broking it is so much more than filling in forms and choosing the lowest initial interest rate. A good broker helps their client with the overall process of buying a property. They act as advocate, project manager, assist with the assessment of financial risk, and liaise with solicitors, real estate agents and the bank's back office to make settlements happen on time.

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