What’s been happening with Property Values?

Property demand appears to have peaked, based on the most recent mortgage data from the Australian Bureau of Statistics.

Buyers committed to $31.0 billion of new home loans in April, which was 6.4% lower than March and 7.2% lower than the record result in January.

A reduction in mortgage volumes suggests fewer people are applying for home loans, which suggests fewer buyers are active in the market. That, in turn, suggests there’s now less buyer competition, which should put downward pressure on prices.

Now let me also tell you…. PROPERTY VALUES HAVE DOUBLED IN SEVEN YEARS!

The combined value of all the residential properties in Australia has passed the $10 trillion mark for the first time.

Australia’s pool of homes was worth $10.2 trillion in the March quarter, according to the latest data from the Australian Bureau of Statistics.

Remarkably, that represents a doubling in value in just seven years, from $5.1 trillion in June 2014.

Australian property prices have enjoyed remarkable growth over the long-term, even though there have been regular occasions when prices have temporarily declined.

That’s part of the reason so many Australians want to own their own home. It’s also why so many people use property investment as a way to build wealth for retirement.

Are you thinking about entering the market? If so, I can give you advice about your borrowing capacity and the correct way to structure your loan. I can also compare lenders and interest rates on your behalf.

Would you like more information? You can ring me now 1300 989 878 or email me at [email protected]

Now, it's time to massage your brain (gently!) ?? ??

Join our one question survey:? Where do you go to get a loan?

Finish this survey in 1 minute (and see how you compare to all the borrowers in Australia ??)? - survey link.

Our act of altruism: ?All contributors to our polls will go into the draw for our Annual End of Fiscal Year $500 donation to a charity of the winner’s choice.?

NOTE: This poll will close on 15 August.

AND GETTING READY FOR AN AUCTION? A LENDER’S TIPS!

? Check out house auctions - be a spectator and see how it works.

? Research your property. Obtain a property report (we can provider one to you - free)

? Organise your finances - only a full due diligence by a broker will let you know what you can afford

? Set your limit - particularly if your finances are tight

? Conduct inspections. Always consider a building inspection

? Check the contract. Always consider a conveyancer - or if you can afford to pay a little more, a property lawyer

? Register your interest (so you can bid)

? Make a prior offer. You might just be able to secure your property for ‘your price’

? Bid with your head. Auctions can be ‘heady’ experiences

? Bring someone with you to bid.? Buyers advocates are great at this

? Online auctions: get in early and familiarise yourself with how it works, any ‘rules’ etc.,

Your free property report can be ordered here: your free property report link

And, if you don’t know a good broker, or even a good property inspector, conveyancer, property lawyer or buyer’s advocate, I might be able to help you (particularly the good broker ??????).? We have access to a range of service providers Australia-wide including property professionals and tradies.

Would you like more information? You can ring me now 1300 989 878 or email me at [email protected]

Lender’s Carrots? ????

A lender has the following niches:

? Self Employed

?????- Only the most recent year income is used

?????- 2 yrs Financial Statements (P&L) with NO need for the ATO’s Notice of Assessments.

? Generous add backs: $5K Motor Vehicle, 100% depreciation and one-off expenses.

? Cash out flexibility: only a stated purpose.

? Servicing calculator: allows for negative gearing and one of the most generous in terms of borrowing capacity.

? No loan statements required for debts we are not refinancing.

? PAYG: only 3 months in the job or 12 months in the industry.

Would you like more information? You can ring me now 1300 989 878 or email me at [email protected]

AND ONE LAST THING

"Don't wait for success to become stronger and confident. Be strong and confident. Success will automatically chase you." ―Saif Rehman

On behalf of the BIR Finance team, have a great day!