News and Announcements
Staff Reporter - The Adviser According to new research by RP Data, sales volumes have been trending down since September 2009. At the same time, vendors are being forced to offer greater discounts for houses and units. In February 2011, sales volumes were 13 per cent lower than February 2010 and vendor discounting was recorded at 6.5 per cent for houses and 6.6 per cent for units. Across the capitals, vendor discounting levels were varied, however RP Data reported that there is a strong trend to indicate that discounting is increasing, with Sydney and Hobart the only exceptions. “If transaction volumes are falling and value growth is limited or continues to fall, buyers won’t need to pay top dollar for properties. Given this, vendors need to question whether or not selling up is the best option based on today’s market conditions,” RP Data’s research analyst Cameron Kusher said. “For potential buyers, the news is much more positive because buyers now hold the power and can really begin to negotiate and pick up a property at a reduced price.”
Thursday 19th May, 2011
Growing vendor discounts are helping potential home buyers to bag a bargain.
FHBs told to buy now
191 people have read this article
Thursday, 28 April 2011
Staff Reporter
The time is right for first home buyers looking to get on the property ladder, Aussie’s John Symond has claimed.
According to the brokerage’s executive chairman, higher levels of savings, increasing rents, stable interest rates, a softer housing market and the banks relaxing their lending criteria have all combined to create a unique opportunity for first home buyers.
“Market conditions are certainly favourable for first home buyers,” he said.
“The large number of properties available for sale on the market has created ideal conditions for buyers to negotiate on price.”
Mr Symond said there was also considerable pressure on rents, with many home buyers looking at paying weekly rents which may be comparable to loan repayments.
“It is worth investigating the options of buying a home versus paying rent to a landlord as potential buyers may be pleasantly surprised.”
Mr Symond said Australians have heeded the Reserve Bank’s warning about taking on too much debt and have begun to save – which bodes well for home loan deposits.
“Banks are also relaxing their lending criteria and lifting their LVRs (loan to value ratio) to higher levels, meaning home buyers can have a smaller deposit than has been required in the aftermath of the Global Financial Crisis,” he said.
14/2/2011
REFINANCE - YOU COULD SAVE $1000'S
Several Lenders on our panel have recently unveiled generous discounts aimed at enticing new clients into taking their products. Property market picks up in 2011 279 people have read this article Monday, 21 February 2011 Staff Reporter - Source The Adviser After a slow start to the year, BIS Shrapnel is predicting the property market will pick up speed in the second half of 2011. According to the forecaster’s Building Industry Prospects report, the total number of new dwelling approvals is expected to rise eight per cent to 177,000 in 2011/12 – the highest level since 2003/04. “The increase in first-home buyer demand from the Federal Government’s First Home Owner’s Grant Boost Scheme, together with various State Government incentives for new dwellings, resulted in new house approvals rising by 22 per cent in 2009/10,” Angie Zigomanis, BIS Shrapnel senior manager, building and construction said. “However, these incentives only served to pull forward existing demand, with first home buyers who would have otherwise been in the market in 2010 entering the market in 2009 to take advantage of the increased incentives before they expired. As a result, there was a drop off in first home buyers in 2010, which has been evident by the decline in new house approvals through the second half of last year.” The number of loans approved for first home buyers nationally by the middle of 2010 was nearly 60 per cent below the same (albeit elevated) period in 2009. With first home buyer demand well down, upgrader demand for new dwellings also eased as fewer potential buyers were in the market for their existing properties. As a result, BIS Shrapnel is forecasting new house approvals to record a decline of 11 per cent in 2010/11. However, strong investor demand is driving further growth of 26 per cent in other dwelling approvals (private medium and high density dwellings). “With the lower level of construction since the Global Financial Crisis, supply has fallen further behind underlying demand, and there is a rising deficiency of dwelling stock,” said Mr Zigomanis. “At the same time, there is evidence that that the drop off of first-home buyers has now bottomed out. The latest data for the month of December 2010 indicates that the number of first home buyers improved to a decline of 29 per cent on the previous year, while the actual number of loans given to first-home buyers was also the highest level since December 2009.” BIS Shrapnel says the improvement in first-home buyer activity should continue through 2011 as the post-Boost Scheme decline in first-home buyers is played out and numbers slowly recover back to long term levels by the second half of the year. Together with the pent up demand from the deficiency of dwelling stock, and an environment where economic growth is picking up and interest rates are stable over the next six months, demand for new houses will subsequently increase as upgraders also take advantage of the stronger demand for their existing dwellings and trade up to a new house.
A saving of $4000 per annum or $333.00 per month is possible simply by changing a loan of $500,000 to a lender offering a 0.80% discount on their standard variable rate for loans of $500,000 plus.
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GOODS NEWS - AT LAST!!
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