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17, June, 2021 - News

3 minute Read

Last Week in Review 17/06/2021

Joseph Daoud

3 minute Read

Last week it was mostly good news for homebuyers. Lender 86 400 announced a drop in their rates which coincides with a continuous boom in the property market. Buyers are buying property at record speeds, which is causing FOMO to take over. FOMO seems to be part of the main driving force of the current boom and it doesn’t look like it’s slowing down any time soon as demand continues to outpace supply.

Why brokers are better than banks? – It’s Simple

A quick video explaining why going to a broker is more advantageous for consumers than going straight to a bank.

Is it too late to purchase property in Australia? – It’s Simple

With property prices in Australia at an all-time high, Australians are experiencing FOMO. This video helps explain why it isn’t too late to purchase property in Australia.

New rates announced for 86 400 effective from 16 June 2021

Owner occupied P&I Current rate (p.a) New Rate (p.a) Change
1 year 2.15% 1.84% -0.31%
2 year 1.98% 1.89% -0.09%
3 year 2.15% 1.99% -0.16%

 

Investment P&I Current rate (p.a) New rate (p.a) Change
1 year 2.39% 2.24% -0.15%
2 year 2.24% N/A N/A
3 year 2.39% 2.24% -0.15%

 

Investment IO Current rate (p.a) New rate (p.a) Change
1 year 2.59% 2.44% -0.15%
2 year 2.44% N/A N/A
3 year 2.59% 2.49% -0.10%

 

Pre-auction real estate sales surge as the pandemic house price boom creates buyer FOMO – ABC News

The fear of never owning a home is producing a spike in so-called ‘snap’ or ‘on-the-spot’ auctions. This is where property sales are rushed through prior to auction day. The latest data from CoreLogic show a spike in buyer snapping up properties prior to auction day. In 2018, on 2% of all auctions in Australian capital cities were sold before auction. Now in 2020, as many as 83% of homes are sold prior to auction. Real estate agents have warned people to cool down as usually this involved paying a ‘premium’.

SA’s most affordable and liveable suburbs revealed – news.com.au

Affordable and liveable suburbs – houses

Suburb Median Price Price Growth Rental Yield Radial distance from CBD
Valley View $408,000 2.1% 4.5% 10km
Hope Valley $435,000 7% 4.8% 11km
North Field $440,000 1.3% 4.8% 8km

 

Affordable and liveable suburbs – units

Suburb Median Price price growth rental yield redial distance from cbd
Hope valley $310,000 3.3% 5% 11km
MArleston $387,000 8.3% 5.8% 4km
Kensington gardens $422,000 1.7% 4.9% 6km

 

Five suburbs where buyers can strike gold amid more listings, steady prices – realestate.com.au

Suburb Listings (May) 5-year average for listings Change in dwelling value (12 months) Median house price Median unit price
Melbourne 763 623 1.4% N/A $480,000
South Yarra 335 262 0.1% $1.9525m $611,000
Hawthorn 229 169 -3.2% $2.4925m $599,000
Carnegie 146 90 4.8% $1.52m $638,987
Port Melbourne 150 97 -0.3% $1.5975m $725,000

 

Key number that proves property boom isn’t slowing down – news.com.au

Australians are buying properties at record speeds with homes selling on average in just 32 days. It dropped from an average of 37 days in April. Some states saw themselves with even faster buyers. In the ACT the average time for properties appearing on realestate.com.au was 24 days, 27 days in NSW, and 28 says in Victoria. The property market continues to boom with demand outpacing supply in May.

More Articles.

...
June 21, 2022 - Blog
Choosing Between Fixed and Variable Rate Home Loans

Considering the recent interest rate hikes, more than ever, it’s important to consider all options to avoid paying more on your mortgage. Following the RBA’s 50-basis-point hike in the cash rate on 7 June 2022, it is no surprise that many banks increased their rates as well. Australia’s big four already announced that they would […]

Joseph Daoud

5 minute Read

...
June 16, 2022 - Blog
Surviving RBA’s highest rate hike in 22 years

The Reserve Bank of Australia’s highest single-raise cash rate in 22 years leaves everyone thinking, ‘How can I handle this?’ In a statement made by RBA governor, Philip Lowe, the Board decided to increase the interest rate by 50 basis points leading to the cash rate of 0.85%. So, where does this leave you? Here’s […]

Joseph Daoud

6 minute Read

...
May 15, 2022 - News
Price Caps Raised For Home Guarantees

Prime Minister Scott Morrison has just recently declared that the government’s Home Guarantee Scheme will have higher maximum property prices and more available places per year. From July 1, this price upgrade will qualify houses in two out of five (40%) suburbs nationwide for the scheme. This is up from 24.1% according to analysis by […]

Joseph Daoud

3 minute Read

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It's Simple 2022 © Its Simple Pty Ltd. Trading as It’s Simple Finance (Credit Representative 495852) is authorised under Australian Credit Licence 389328. ABN: 22 637 831 157 | ACN: 637 831 157

Interest Rates are correct as at 27/05/2021 and subject to change at any time. The interest rate provided applies for a 4 year fixed rate with a LVR of 80% or lower. The comparison rate is based on a loan amount of $150,000, over a 25 year term.

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