As 2020 draws to a close, the team at Belle Property [suburb] are reflecting on what has been an incredible year, with significant Covid challenges, a responsive change to the way we do business and ultimately a lot of great results and success.
The property market continues to bounce back and thrive from the Covid stumble earlier this year, driven by a lack of good quality family homes on the market and underpinned by ‘near zero’ interest rates from our banks.
Some interesting points about the current property and mortgage market:
- Australian home values have risen for the first time in October since the pandemic started in March
- The total value of home loan approvals surged 12.6% in August to $21.6bn, led by record growth in owner occupier approvals to $16.2bn
- The RBA’s Governor Philip Lowe last month stated that he does not expect to raise the cash rate for at least 3 years
The Treasurer has also announced that responsible lending laws will be wound back as of March next year, which is expected to:
- Make the loan assessment process more efficient and speed up the flow of credit
- Reduce the administrational burden on lenders as well as consumers
The best current offers we are seeing from the major banks at the moment are:
- 2.35% owner occupied variable
- 1.89% owner occupied fixed
- 2.49% investment interest only fixed (this translates to $479 per week for every $1m borrowed)
- $4,000 refinance rebates available
- Mortgage Insurance Waivers available for first home buyers and certain professions
If you are interested in a free home loan health check or seeking to get your finance approved, we are pleased to recommend home loan partner [partner name]. Feel free to call Director [name and phone number] to make a suitable time to meet to help you secure your best home loan rate.
Loving your local neighbourhood
Renowned for its famous beaches, [suburb] is just 15 minutes from the CBD and some of the best schools in the area including [school name, another school name and another school name]. [Suburb] is also home to Australia’s largest health and education precinct, with the world class [hospitals and universities] all part of the reason many families stay and why property prices continue to rise year on year.
With [transport options] and local [parks and recreation options] under 15 minutes away, you’ll know why this suburb is appealing to families and investors.
[Data provider name] reveals that [this suburb] has broad appeal to many types of buyers as young professionals seek apartments close to the CBD with beach living, families seek homes near popular schools and older buyers are attracted to access to health services and lifestyle attractions. Buyers should expect to pay a median price of $9981,000 for an apartment and $2.55 million for a house. Renters anticipate a payment of $575 per week for an apartment or $995 per week for a home.