As we return from summer holidays and slowly get back into our working routine, the business of a new year begins in earnest.
Perhaps 2016 will be the year you take the leap and buy that investment property you’ve been thinking about? Or maybe it’s finally time to get started on that renovation project?
It may even be the perfect time to reassess your finances and determine whether you’ve got the best loan, structure and rates for 2016 and beyond. The Reserve Bank met on 2nd February and again has opted to sit tight leaving the current cash rate at 2.00%.
This month’s eNewsletter reports on how the latest market shifts favour buyers and we have included the country’s top 5 design blogs to inspire you to create the perfect home. Enjoy!
If you’re thinking about reviewing your finances to set up for a better 2016, please give me a call before the year is half gone.
Market shift to favour buyers.
The latest Commonwealth Bank CoreLogic RP Data Home Buyers Index gives a good indication how the Australian property market will move in 2016.
Australian capital city house prices rose 0.9% in January, driven partially by a rebound in Sydney and Melbourne according to the CoreLogic RP Data January 2016 Home Value Index.
Annual growth combined capital city house prices was 7.4%, led by Melbourne and Sydney, where prices rose 11% and 10.5% rise respectively. Quarterly growth was minus 0.6% for combined capital cities, with Sydney down 2.1% and Melbourne down 0.1%.
The latest CoreLogic RP Data Home Buyers Index also shows Brisbane and Darwin have notably shifted from balanced markets to favour buyers, while Sydney and Melbourne remain favourable for sellers.
Adelaide has shifted in favour of sellers after previously being a balanced market and Canberra remains a sellers markets.
At a national level, the Queensland, Western Australia, Tasmania and Northern Territory property markets remain in favour of buyers. Victoria and the ACT favour sellers and NSW and SA remain balanced. Top 5 buyers markets 1. Northern, SA 2. Wide Bay-Burnett, Qld 3. Central West, Qld 4. Far West, NSW 5. Pilbara, WA. Top 5 sellers markets 1. Sydney, NSW 2. Melbourne, VIC 3. Adelaide, SA 4. Canberra, ACT 5. Central Highlands, VIC. Great opportunities for buyers and sellers remain across the country. If you’re a prospective buyer, make sure you do your research carefully so you find the best deal possible.
If you’re still considering whether a fixed rate, variable rate or a combination of the two is ideal for your situation, pick up the phone. Let me lay all your options on the table so you can make a fully informed decision.
Get inspired: 5 great interior design blogs you should check out today.
Looking for a bit of inspiration for your home, some fresh renovating ideas or words of wisdom from those who live and breathe design?
You should follow these blogs immediately!
1. Interiors Addict. Ex-journalist Jen Bishop’s blog sells “style without the snobbery.” Her genuine love of interiors and a belief in “style for any budget” offers insight into gorgeous interiors and how to find some bargains.
2. The Design Files. Since 2008, this blog has been the number one destination for design inspiration in Australia. Lucy Feagins is best known for her profiles of beautiful Australian homes, which she updates every Wednesday.
3. Ish & Chi. Vivian Panagos is a Sydney interior designer and new mum who shares her ideas, inspiration and family life via her blog. She interviews creatives, steps inside their spaces and shares her own world through intimate pictures of her home and family.
4. Paint Me White. Sandy Palmer is a decorative painter with a passion for upcycling old furniture. Her blog is all about the shabby, beachy and French Provincial look. See before and after pictures of the projects she’s working on and get advice on how to achieve her signature style.
5. Absolutely Beautiful Things. Anna Spiro is a Brisbane-based designer who started this blog in 2006 as a way of recording all the colourful and quirky things that inspire her. Her mantra? “To live a bright and colourful life surrounded by the things you love.”
If you’re planning renovations this year, it might pay to give me a call first. I can find you a great refinancing deal to help you create the home of your dreams.
