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RBA Leaves Cash Rate at 2.5%

March 4, 2014 brokeradmin — No Comments

Another great month. Historically, cash rates have generally been around 5% and interest rates are usually around 2% higher. So we are now near the bottom of the cycle.

The major banks are now meeting the non-banks with fixed rates below 5% and with rates the lowest they have been in around 60 years, it’s something that should definitely be considered. If you would like to take advantage of low interest rates and lock in now contact Kelly Beverley at kbeverley@hlc.com.au for a complementary review of your mortgage.

RBA Keeps Cash Rate at 2.5% 4 March 2014

March 4, 2014 brokeradmin — No Comments

At its meeting today, the Board decided to lower the cash rate by 25 basis points to 2.5% effective 7 August 2013. To see the full commentary follow this link

http://www.rba.gov.au/media-releases/2014/mr-14-03.html

Now is a good time to review your home loan. The Home Loan Company can compare your mortgage against what is available in the market. Let us know if you would like a complimentary review.

Sydney Housing Market Report October 2013

November 2, 2013 brokeradmin — No Comments

Australian Property Monitors have completed their October 2013 Market report commenting that:

“median house prices increased by 3.1%, and up by 9.2% over the year ending August 2013. Sydney unit prices recorded a solid result over the quarter, increasing by 1.8%, and are now 7.4% higher compared to last year. The Sydney median house price now exceeds $700,000 at a record high of $705,288, with the median unit price exceeding $500,000, also a record at $501,178. The spring market in Sydney is strengthening, with the September auction clearance rate at 78.5%, the highest monthly result ever recorded. These record auction clearance rates have been achieved despite a surge in listings, with auction listings 26% higher in September this year compared to September last year. Investor activity remains strong in Sydney, with the latest ABS home loan data reporting that
the proportion of investor finance approved continues just above 50% of total housing loans (excluding refinancing). Early signs however are emerging of deterioration in the local economy, with the August unemployment rate increasing sharply to 5.7 from the 5.1 recorded the month before. This is the highest monthly rate for Sydney since December 2011. Although the Sydney housing market continues to record strong prices growth and buyer activity, market sector performance remains mixed, with the prestige market still relatively subdued.”

Make sure you are finance ready. If you would like to refinance to take opportunity of the lowest rates in 60 years, please send us a quick email and we can compare home loan rates for you quickly.

APM Housing Market Report Sept 2013

October 2, 2013 brokeradmin — No Comments

The Australian Property Monitors September Housing Market Report is out:

“Buyer and seller activity in Australian capital city housing markets continues to improve, as the impact of the lowest interest rates in 60 years, rising confidence, and generally solid local economic performances fuel a now well-established recovery in house prices. The national house price rose by 2.5% over the July quarter, up by 5.6 percent over the year. All capital cities recorded rises in median house prices over the July quarter, with the exception of Canberra and Hobart. Hobart is also the only capital that has not recorded an increase in house prices over the past year.

Increased investor activity continues to be a significant driver of rising housing market activity, particularly in Sydney and Perth, where solid yields, rising rents, low vacancy rates and rising prices are proving an irresistible magnet.

Following a strong winter performance, the national spring selling season is shaping up to be the best since 2010, with the prospect of increased buyer and seller activity, and healthy prices growth in most capitals.”

Median house price in Sydney at the end of July was $691,227 which is up 3.0% for the quarter and 7.0% for the year.

APM Housing Market Report June 2013 – Darwin

July 12, 2013 brokeradmin — No Comments

Australian Property Monitors says “Darwin remains a housing market on the move, driven by an influx of workers and a shortage of accommodation, pushing up rents and prices. The latest unemployment data indicates that, similar to Perth, the Territory is having issues absorbing new job seekers, with a rate of 5.4 percent – the highest monthly rate recorded for over 5 years.”

APM Housing Market Report June 2013 – Hobart

July 10, 2013 brokeradmin — No Comments

According to Australian Property Monitors, “Hobart’s housing market remains subdued, reflecting the ongoing impact of a weak local economy. Hobart’s unemployment rate over April was 6.8 percent, and remains the highest of all the capitals, with no real indication of an improvement in the near-term despite low interest rates. The housing market continues to bump along the bottom, with Tasmanian owner-occupier loans, for the March quarter, up just 1.3 percent compared to the same period last year.”

APM Housing Market Report June 2013 – Gold Coast

July 8, 2013 brokeradmin — No Comments

AMP says “The Gold Coast remains on track for a modest revival in buyer activity, following a prolonged period of subdued activity, similar to other major housing markets in South-East Queensland that tend to move in sync. The performance of the local economy remains a concern however, with the latest April unemployment rate at 6.5 percent, well ahead of Brisbane at 5.1 percent, and the Sunshine Coast at 3.7 percent.”

APM Housing Market Report June 2013 – Canberra

July 5, 2013 brokeradmin — No Comments

Australian Property Monitors says: “The Canberra housing market continues to tread water, weighed down by a faltering local economy and concerns about public sector job shedding, due to a deteriorating federal budget. Prices growth is expected to remain subdued as a consequence, with the April unemployment rate at 4.7 percent, the highest April rate recorded in the ABS series for the city, and well ahead of the 2.9 percent recorded over April the year before”.

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