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APM Housing Market Report June 2013 – Perth

July 3, 2013 brokeradmin — No Comments

According to Australian Property Monitors, “The Perth housing market can be expected to continue its upward trajectory of growth, with median prices to be at record levels sooner rather than later in 2013.
First home buyers remain active in the market motivated by the tight rental market and steeply rising rents. However, signs are beginning to emerge of strains on the local economy from the record levels of new arrivals, particularly given the apparent topping out of the resources boom. Perth’s unemployment rate rose to 5.4 percent over April – the highest monthly level recorded for three years.”

APM Housing Market Report June 2013 – Adelaide

July 1, 2013 brokeradmin — No Comments

Australian Property Monitors June Housing Market Report says:

“Buyer activity in Adelaide remains subdued, reflecting the nature of the underperforming local economy where unemployment over April remained seemingly intractably high at 6.1 percent. Some positive signs from ABS home loan data for Adelaide, with the number of owneroccupied loans approved in South Australia up by 3.5 percent over the first 3 months of this year, compared to the same period last year.”

APM Housing Market Report June 2013 – Brisbane

June 29, 2013 brokeradmin — No Comments

APM’s June Housing Market Report talks about Brisbane.

“Positive signs continue to emerge that the nascent recovery in the Brisbane housing market evident over the past year may be sustained. The Brisbane economy now appears to be back in town, with a sharp fall in the local unemployment rate over April, falling from 6.3 percent to just 5.1 percent. It is no coincidence that the rise in Brisbane’s unemployment rate over 2012 provided a significant
impediment to housing market confidence and buyer activity in that city. Buyer activity remains solid in Brisbane’s established middle-ring suburbs to the north and west of the city. Redland City is also proving popular with Brisbane buyers. First home buyers remain subdued; however investors are increasingly recognising the potential of Brisbane, with its high yields and plenty of upside for capital growth.”

APM Housing Market Report June 2013 – Melbourne

June 28, 2013 brokeradmin — No Comments

Australian Property Monitors has released their June Housing Market Report. Here’s what they had to say about Melbourne.

“Melbourne’s housing market has risen since the Easter holiday period, with auction clearance rates on the rise over April and May. Auction listing numbers also rose over this period, with
more than 700 extra properties offered for auction compared to the same period a year ago. This indicates that seller-confidence is on the rise in a market that continues to perform at
three-year highs. The Melbourne market has been sustained by upper-price, inner-city home sales, although a more general pattern of buyer activity is emerging. Middle-ring, mid-price range suburbs,
particularly to the east of the city have attracted increased buyer activity. Changes to the first home owners grant, announced by the local state government, will impact on the Melbourne market, as buyers rush to take advantage of the grant for established home purchases before it expires on the 30th June. The local Melbourne economy does however remain under a cloud, with the announcement of job cuts, particularly in the manufacturing industry contributing to the highest unemployment rate of the mainland capitals, which was at 6.2 percent in April.”

AMP Housing Market Report June 2013 – Sydney

June 27, 2013 brokeradmin — No Comments

Australian Property Monitors has released their Housing Market Report June 2013. Here is an excerpt about Sydney.

“The Sydney housing market continued to strengthen through May with auction clearance rates rising to near-record levels. The auction clearance rate for units of 74.9 percent was second only to the 76.3 percent recorded in May 2002. Similarly, the auction clearance rate for houses of 65.3 percent was the fourth highest May recorded over the last 23 years, behind only 2001, 2002 and 2003. Sydney is now clearly the best performing local economy, with an unemployment rate of 4.9 percent in April, the lowest of all the major capitals. Other leading indicators of economic activity such as retail sales, also position Sydney as a leading economic performer. Investors and mid-range upgraders are currently highly active in Sydney, with both the first home buyer market and the prestige market remaining relatively subdued. Sydney’s inner west region and upper north shore remain particularly popular with buyers.”

RBA Cuts Cash Rate to 2.75% Effective 8 May 2013

May 7, 2013 brokeradmin — No Comments

At its meeting today, the Board decided to lower the cash rate by 25 basis points to 2.75 per cent, effective 8 May 2013.
Some Considerations were:
• “The global economy is likely to record growth a little below trend this year, before picking up next year.
• Growth in Australia was close to trend in 2012 overall, but was a bit below trend in the second half of the year, and this appears to have continued into 2013.
• Employment has continued to grow but more slowly than the labour force, so that the rate of unemployment has increased a little, though it remains relatively low.
• Recent data on prices confirm that inflation is consistent with the target and, if anything, a little lower than expected.
• The CPI rose by 2½ per cent over the past year, and measures of underlying inflation gave a broadly similar outcome. The Bank’s forecast remains that inflation over the next one to two years will be consistent with the target.
The Board has previously noted that the inflation outlook would afford scope to ease further, should that be necessary to support demand. At today’s meeting the Board decided to use some of that scope. It judged that a further decline in the cash rate was appropriate to encourage sustainable growth in the economy, consistent with achieving the inflation target.”

If you would like to see the full decision commentary, here is the link http://www.rba.gov.au/media-releases/2013/mr-13-10.html

If you haven’t reviewed your home loan in the last 2 years, it’s time. Give us a call at The Home Loan Company and we’ll sort it for you.

RBA Leaves rate at 3% 2nd April 2013

April 2, 2013 brokeradmin — No Comments

At its meeting today, the RBA decided to leave the cash rate at 3.0% which is the rate it has been since 5 December 2012.
• Global growth is forecast to be a little below average for a time, but the downside risks appear to be reduced
• Europe remains in recession
• the United States is experiencing a moderate expansion
• growth in China has stabilised at a fairly robust pace
• In Australia, growth was close to trend over 2012
• Inflation is consistent with the medium-term target, with both headline CPI and underlying measures at around 2.25%. The Bank’s assessment remains that inflation will be consistent with the target over the next one to two years which would afford scope to ease policy further.

If you would like to see the full decision commentary, here is the link http://www.rba.gov.au/media-releases/2013/mr-13-06.html

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Housing Market Update 14 March 2013

March 14, 2013 brokeradmin — No Comments

Consumer confidence in the housing market has improved according to the RBA on the back of keeping the cash rate at 3% this month, inflation at just 2.2%, low unemployment and stabilisation of the US and European economies. The RBA in this month’s decision advised that “dwelling investment appears to be slowly increasing, with higher dwelling prices and rental yields” adding to investor confidence in the housing market. John McGrath, CEO of McGrath Real Estate, is forecasting 5%-10% growth in all major east coast markets. He commented that people he has talked to think the market has found its bottom!

Dr Andrew Wilson, Senior Economist for Australian Property Monitors (APM) has also commented “the Australian housing market bottomed out in the December quarter 2011 with prices falling by 3.6 percent over that year. House prices stabilised and rose over 2012 with the national house price up by 2.1 percent.” APM also released Sydney’s auction clearance rate of 72.7% for the week ending 11th March 2013. This is higher than the same weekend last year with only 56.6%.

So if you are looking to buy property, perhaps waiting for it to bottom out may see you miss out. If the price is reasonable, jump in. If you are looking for a mortgage loan, The Home Loan Company can help you. We have the right Education, Ethics and Experience to help you choose.

Doing it Tough?

March 12, 2013 brokeradmin — No Comments

If you’re doing it tough with your mortgage, don’t send back the keys. There are ways to work it out and lenders don’t want to take possession of your property and take a loss. Check out this link to see what you can do or give us a call at The Home Loan Company and we can walk you through it.

www.doingittough.info/process-applying-change-your-contract-under-national-consumer-credit-protection-act-2009

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