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Newsletter | Your Monthly Finance Tips

 

CashA lot has been happening in property and finance this past month.

Here’s four stories that will help you sort through the latest hype, trends and news:

1. Homes vs Units, which have fallen more in 12 months?

2. Auction clearances are up, what does this mean?

3. Solar and Wind energy doubles in 6 years.

4. What happens after the RBA lowers rates?

There’s lots of movement happening with interest rates right now. If you want to know which banks are making the most competitive moves, let’s chat!

Call me now on 0402408944


How much has the value of houses and units changed in the last 12 months?Graph June 19 1

It’s no secret that over the past 12 months, the property market has been trending downwards. However, when you separate the growth/decline of houses and units in our capital cities, you can see that the markets for different property types and capital cities can be wildly different.

For example, in Sydney, Melbourne and Perth, houses have fallen more in value than units. But in cities like Brisbane, Darwin and Hobart, houses have performed better than units.

Why is it important to compare houses and units separately?

Knowing the growth / decline rate of the property type in a certain area will help you make a better assessment of current value and comparables during your property search.

If you are looking at purchasing or refinancing a house or unit soon, it’s important we speak. Among other things, I can help make sure we find the right valuation for the property. It’s a critical step and can save you thousands.


Solar doubles in six years

Graph June 19 2.png

The ABS has recently reported that solar and wind energy production has doubled in six years. Couple this with all the commentary around alternative energy and it’s easy to see that going green is a trend that’s set to continue.

Solar Energy and Property

Solar is increasingly becoming a positive feature for property value and resale. In some cases, the cost of adding it to your property is covered by its increase in value. Since the price of electricity is expected to keep rising, adding solar to your property could save you lots of money on your monthly energy costs.

If you’re looking to add solar energy to your property, there’s a few different ways to do it.

1. Using a specific lender that offers lower rates for Green Energy

2. Refinancing and adding the costs to your home loan Book in a free chat now if you want to know more.


Auction clearance latest figures

Graph June 19 3.png.jpg

As you’ve probably heard from the local real estate agent shouting from the rooftop, the property market is showing signs of life. To have an understanding of how, let’s take a quick look at the Auction Clearance Rates for June compared to a year ago.

In reality, only Sydney and Melbourne have substantially improved from what they did a year ago. That said, there are still several factors pointing towards better buying conditions in almost all areas of Australia.

If you’re looking to start bidding at an auction soon, let me know and I’ll arrange a pre-approval for you. This will help you;

• Bid with confidence knowing that your finances are sorted

• Know your exact limits and repayments for different price points

• Save money, as pre-approval doesn’t cost you anything


RBA lowered rates - what happens next?

Earlier in June, the RBA reduced the cash rate to 1.25%, ending a 2.5 year run where the cash rate was left at 1.5%. Since then, banks around Australia have made adjustments to their interest rates.

• Several have matched the RBA rate drop

• Some have dropped but not in-step with the full reduction

• Others have yet to make a decision.

What’s critical to understand is that all these lenders have been making different rate movements regardless of the RBA’s rate decisions. This means that a lender who passes on the full rate cut this month, may not do so for the next cut.

If you want to get a clearer, long-term view of interest rates with certain lenders, feel free to give me a call.