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New ABS figures have revealed some positive housing market statistics for the June quarter; however analysts say the market is slowing even though figures don’t yet reflect this.
The average price for an established home rose 3.1 per cent nationally over the June quarter.
Sydney prices were up 4.9 per cent over the same period, and Melbourne’s rose 3.6 per cent.
An increase of 3.2 per cent was evident in Adelaide, with Darwin and Canberra prices growing 2.8 and 2.1 per cent respectively.
The ‘slow down’ analysts were referring to was most evident in Perth, Brisbane and Hobart, which all had growth ...
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Categories: Finance News. Tags: Adelaide, Brisbane, Canberra, Darwin, Dean Rushton, Hobart, Home Loan Pre-approval, Loan Market, Melbourne, Perth, Sydney.
The Real Estate Institute of Western Australia says Scarborough had one of the largest increases in median house prices over the past 12 months.
Metropolitan Perth recorded a 9.3 per cent growth, whereas Perth jumped an impressive 19.2 per cent.
Ray White chief Mark Whiteman said Scarborough was the most reasonably priced suburb in terms of both proximity to the beach, and the city.
"It is not only a desirable place to live, but a desirable place to rent, with a lot of investment properties in the area," he said.
Scarborough's median house price in June was $740,000, up from $556,250 the same time ...
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Categories: Finance News. Tags: Balga, Bayswater, Dienella, East Perth, Ellenbrook, Greg La Brash, Henley Brook, High Wycombe, Home Loan Pre-approval, Kalamunda, Karrinyup, Koondoola, Maylands, Midland, Mirrabooka, Morley, Mortgage Broker, Nollamara, Perth, Scarborough, West Perth.
Perth mortgage broker Greg La Brash believes that finding the right home finance package is just as important as finding the right home.
Greg prides himself on thoroughly explaining the home loan process to each of his clients so as they can make an informed decision about which package to choose. He knows that every client’s situation is unique and will have a different range of options; he ensures they understand the pros and cons of each option.
Greg has access to more than 800 home loan products from more than 40 lenders.
With a fully mobile ...
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Categories: Finance News. Tags: Balga, Bayswater, Dienella, East Perth, Ellenbrook, Greg La Brash, Henley Brook, High Wycombe, Home Loans, Kalamunda, Karrinyup, Koondoola, Maylands, Midland, Mirrabooka, Morley, Mortgage Broker, Nollamara, Perth, Scarborough, West Perth.
The number of people borrowing more than $500,000 to purchase property rose by an average of 13 per cent nationwide over the past 12 months, says leading mortgage broker Loan Market.
Loan Market Chief Operating Officer Dean Rushton said the increase occurred in all mainland state capitals with Melbourne having the biggest rise of 21 per cent.
Mr Rushton said analysis provided for Loan Market by property information service PriceFinder found residential real estate price increases only partially contributed to the significant shift in home loan size.
“A higher proportion of first home buyer activity during 2009 ...
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Categories: Finance News. Tags: Home Loans, Loan Market, PriceFinder.
A West Australian initiative that aims to assist low-income earners get onto the property ladder is giving them a tough stress-test before saying yes.
Housing assistance lender Keystart is testing potential borrowers to see if they can afford an additional 3.5 per cent interest rate rise.
For the average WA mortgage holder who is repaying a home loan of $391,000, this would mean they would have to show evidence that they could afford an additional $980 per month to be eligible for a Keystart loan.
Scarborough mortgage broker Arno Visser says this is a tougher test than many of ...
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Categories: Finance News. Tags: Arno Visser, Home Loan, Interest Rates, Scarborough.
A new report released by The Council of Australian Government’s Reform Council (COAG) has revealed that Brisbane has the nation’s least affordable homes after Perth, with nine out of 10 people paying house prices that don’t match their incomes.
The report says only 9.8 per cent of Brisbane houses are affordable, second to Perth, which has only 5.5 per cent home affordability.
Also according to the report, in Brisbane "the typical home price was the same as Sydney" but there was not as much variety in the property market and "income levels were much lower than in Sydney".
It says the typical house ...
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Categories: Finance News. Tags: Borrowers, Borrowing Capacity, Brisbane, how much you can borrow.
The good news is there is still affordable housing in Australia. The bad news is that the suburbs are a short flight away from capital city centres.
Take for instance, Millgrove in Victoria. The median price for a home in that suburb is a relatively modest $218,500 with values rising 1.2 per cent in the year to January, according to RP Data.
But Millgrove, in the state's Yarra Ranges, is 61 kilometres from Melbourne's CBD.
In Sydney the most affordable suburb is Willmot with a median home price of $219,500. It's a mere 41 kilometres to the CBD, but prices ...
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Categories: Finance News. Tags: Adelaide, Brisbane, Cameron Kusher, Housing, Melbourne, Millgrove, Sydney, Victoria, Western Australia.
Survey results released this week by PRDnationwide reveal property investors believe Brisbane currently has the best investment opportunities.
Around 45 per cent of respondents voted for the Queensland capital city, and Ipswich mortgage broker Steven Tozer agrees the Brisbane area is an excellent place for investors to be looking.
“Investors shouldn’t just be looking in the city centre though; I’m getting plenty of enquiries about finance for properties in suburbs like Ipswich and Lowood, so there are obviously opportunities outside the hub too,” he said.
A quarter of survey respondents said Sydney was the best place to invest, followed ...
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Categories: Finance News. Tags: Investors, Ipswich, Lowood, Mortgage Broker, Steven Tozer.
Loan Market Gosnells mortgage broker, Tony Wood, says many people have the financial resources to invest in property but simply don't know.
According to Mr. Wood, these resources come in the form of home equity - in other words, the dollar amount of your property that you own, that is free of mortgages.
"If you've had your home for a substantial period of time and have been regularly paying off your mortgage, or if you bought relatively recently but the capital value of your home has increased, you probably have a decent amount of equity sitting in that property," said ...
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Categories: Finance News, Mortgage Brokers. Tags: Equity Release, Gosnells, Home Equity, Investment Finance, Mortgage Broker, Property Investment, Tony Wood.
Property Investors might be getting most of the column space but people upgrading - or simply moving on to a new place - are an active group in the property market too, says Gosnells mortgage broker, Loan Market.
The recent state of the property market, combined with still-low interest rates, has encouraged a number of people to move on or up.
Loan Market has found a number of buyers in this group are unsure about what to do with their home loans when they do decide to move to a new property.
According to Loan Market, the term 'bridging loan' was considered ...
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Categories: Mortgage Brokers. Tags: Bridging Loan, Gosnells, Mortgage Broker, Property Investment.
