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Flint Wins First Award at NSW and ACT MFAA Excellence Awards

I'm thrilled to announce that Flint , has won its first award for top Finance Broker Business at the prestigious New South Wales and Australian Capital Territory Mortgage & Finance Association of Australia (MFAA) Excellence Awards. It was an honor to accept this award on behalf of the company.

Event Highlights

Over 350 members of the mortgage and finance broking industry gathered at the Fullerton Hotel in Sydney to celebrate the winners of the MFAA Excellence Awards. These awards recognise members who have excelled in customer service, professionalism, ethics, growth, and innovation.

Recognition and Achievements

MFAA CEO Anja Pannek stated, “We’re excited to recognize the exceptional work of our members at this year’s NSW/ACT MFAA Excellence Awards. The calibre of entries this year was truly impressive, and I congratulate all the finalists and our winners.”

Looking Ahead

All winners of the New South Wales and Australian Capital Territory MFAA State Excellence Awards, including Flint, are now finalists for the MFAA National Excellence Awards. This event will be held in Melbourne on Thursday, 25 July, following the MFAA National Conference.

Thank you for your continued support as we strive for excellence in the industry.

Auction Clearance Results June 15th | No Sign of Winter Slowdown

Weekend auction markets bounced back from the holiday break with strong results, showing no signs of a winter slowdown.

Key Takeaways

• Adelaide: Highest auction clearance rate at 75.8%
• Sydney: 70.8%
• Melbourne: 65.9%
• Brisbane: 57.5%
• Canberra: 66.0%

National Stats

• Clearance Rate: 67.2% (almost identical to last week's 67.1%, but lower than 71.7% same weekend last year)
• Total Listings: 2068 (up from 1062 last weekend, and higher than 1310 same weekend last year)

Sydney Highlights

• Clearance Rate: 70.8% (down from 72.9% last weekend)
• Median Price: $1,745,000 (up from $1,590,000 last weekend)
• Top Sale: 166 The Boulevarde Strathfield - $6,462,500
• Most Affordable: 2-bed unit at 11/95 Great Western Hwy - $490,000

Melbourne Highlights

• Clearance Rate: 65.9% (up from 58.1% last weekend)
• Median Price: $945,000 (up from $905,000 last weekend)
• Top Sale: 54 Highfield Rd Canterbury - $3,450,000
• Most Affordable: 1-bed unit at 103/188 Peel St North Melbourne - $176,000

Unemployment Rate Falls

The national unemployment rate saw a surprising improvement, ticking down from 4.1% in April to 4.0% in May, according to the Australian Bureau of Statistics .

Key Points

• Current Rate: 4.0% in May
• Historical Average: 6.6% since 1978
• Peak: 11.2% in 1992 during the 'recession we had to have'
• Recent Low: 3.5% in 2022 and 2023

Despite the slowing economy over the past 18 months, unemployment remains very low by historical standards. The Reserve Bank closely monitors the unemployment rate when making cash rate decisions. With unemployment this low, reducing interest rates may be challenging as it could overheat the economy and increase inflation.

Property Prices Surge Over the Long-Term

Which capital city has experienced the most house price growth over the past 20 years? The answer is Hobart.

20-Year House Price Growth

• Hobart: +246%
• Adelaide: +206%
• Brisbane: +178%
• Perth: +175%
• Melbourne: +166%
• Sydney: +158%
• Canberra: +154%
• Darwin: +130%

Data from the Australian Bureau of Statistics indicates that holding property long-term typically results in significant price growth, despite occasional market downturns.