Australia’s median property price has risen for eight straight months, up another 0.8% in September. With the RBA’s next call on November 4 still uncertain, now’s a good time to see what else is happening in finance and property:

• Home construction rises as conditions improve
• Brokers fill gap as branches close
• Homes selling slower, prices holding firm
• Comparison rates – what they are, why they matter

Call me now on: 0402 408944

Buyers turning to new builds as affordability shifts

With established property prices climbing, more Australians are finding better value in building. This is reflected in new data from the Housing Industry Association (HIA), which shows new home sales rose 25.9% in September and 4.0% over the quarter.

HIA chief economist Tim Reardon said lower interest rates, government incentives and rising property prices have made building comparatively more affordable. In many areas, construction now stacks up better than buying an existing home.Financing a build comes with different challenges – progress payments, loan approvals and cost variations all need careful planning. While building can offer long-term value and access to incentives, managing cash flow and unexpected costs can be tricky.

Five tips for financing a new home build

• Set a clear budget – include a 10–15% buffer for unexpected costs. 
• Secure pre-approval early – it defines your borrowing power and helps you plan your build with confidence. 
• Understand your loan – funds are released in stages, so know when payments occur. 
• Plan for cash flow – you may have to pay rent or a mortgage while building. 
• Stay in touch – advise your lender quickly if costs or plans change. 

Thinking about building? Let’s chat about your finance options before you start comparing floor plans. 

Bank branch closures drive record broker demand

If you’ve noticed fewer bank branches in your neighbourhood lately, you’re not imagining it – and you’re certainly not alone in looking elsewhere for help with your finances.

The number of bank branches across Australia has fallen sharply, down 5% over the past year and a staggering 33% over the past five years, according to Canstar analysis of official banking data.

As banks move online, many borrowers are turning to mortgage brokers for personalised guidance that big institutions can no longer provide in person. With most transactions now handled digitally – from opening accounts to applying for loans – fewer people are visiting branches at all. Instead, borrowers are seeking the human support they once got over the counter from brokers who can meet face-to-face or online, explain complex lending options, and guide them through the process from start to finish.It’s little wonder brokers are now responsible for a record 77.6% of all new home loans, up from 67.2% just two years ago, according to Cotality research. Unlike banks, brokers can compare dozens of lenders to help you find a loan that genuinely suits your needs.

Importantly, as part of the Best Interests Duty, brokers are legally required to act in your best interests – something banks don’t have to do. So as the traditional branch network continues to shrink, more Australians are choosing brokers for expert guidance, wider choice and a service that puts them first.

Please reach out if you’re thinking about buying a property or refinancing an existing loan, so I can compare the market for you and manage your application.

Home taking slightly longer to sell - but prices staying firm

Selling conditions in Australia’s housing market have shifted slightly, with properties spending a little longer on the market – but sellers are still achieving strong results.

New data from Cotality shows that the median time to sell a home by private treaty rose to 30 days in the September quarter, up from 27 days a year earlier. A longer selling time typically signals a dip in buyer urgency. However, the median vendor discount – the gap between a home’s listing price and its final sale price – narrowed from 3.3% to 3.2%, suggesting buyer activity remains firm and sellers are still in a strong position.

For buyers, this combination of slower sales and firm prices means the market remains competitive, yet there’s still room to negotiate. To find a good home at a fair price, consider the following:

• Get your finances ready. Secure pre-approval so you can act quickly when the right property appears. 
• Know the market. Research recent comparable sales to understand what homes are really worth. 
• Be realistic. Aim for value rather than chasing bargains in a competitive market. 

The best buyers in this market are the ones who’ve done their homework – and have their finance lined up before they start looking.

Comparison rates explained and why they matter

When comparing home loans, it’s easy to focus on the headline rate – but that number doesn’t tell the full story. The comparison rate shows the true cost once most fees are included.

Here’s how it works:

• Interest rate – what you’re charged on the loan balance. 
• Fees – upfront, ongoing or annual costs added in. 
• Comparison rate – combines both, giving a clearer picture of what you’ll actually pay. While Lender A appears cheaper, Lender B may cost less overall.

Keep in mind: comparison rates are based on a $150,000 loan over 25 years. Most home loans are much larger and longer, so treat the rate as a guide – not a guarantee.

Want to know which loan suits your unique situation? Let’s compare your options side-by-side.

Mortgage Broker with over 30 years experience, I can help first home buyers buy their 1st home, home buyers buy their second, third or fourth home, investment property investors and people who want to build a home.

Based in Victoria Point, I have helped clients all over Australia purchase a home including Gold Coast, Brisbane, Cleveland, Redland Bay, Thornlands, Thorneside, Ormiston, Alexandra Hills, Mt Cotton, Victoria Point, Wellington Point, Birkdale, Shailer Park and the greater Logan area.