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
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|Investment P&I||Current rate (p.a)||New rate (p.a)||Change|
|Investment IO||Current rate (p.a)||New rate (p.a)||Change|
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
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Affordable and liveable suburbs – units
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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|
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.