TWO CENTS WORTH

Articles and Musings by John Hudson

14-12-20

GOOD NEWS FOR FIRST HOME BUYERS

The new Government-backed initiative to help Australians get into their first home sooner is now available.

The First Home Loan Deposit Scheme (FHLDS) means you can buy your house with a deposit of as little as 5%.  This could save you a substantial amount of Lender’s Mortgage Insurance (on average about $12,500) and can be used alongside other government grants and concessions.

 

more FHLDS information

 

 

07-02-20

MARKET UPDATE FEBRUARY 2020

 

Welcome to our first report of the new decade!

What will the 20s be like for property markets in Australia? Unfortunately, no one has a crystal ball to be able to accurately predict the future, but when it comes to property, it’s crucial to be aware of current trends to help you make the best possible buying or selling decisions.

more

 

04-12-19

MARKET UPDATE DECEMBER 2019

 

The end of the year, and the decade, is fast approaching. Property is a long-term investment, so it’s a great time to see how it’s performed over the last ten years in major markets across Australia. According to the Australian Bureau of Statistics, median house prices in Australian capital cities ten years ago were as follows: Sydney $595,000, Melbourne $480,000,

more

 

I REALLY WANT TO BUY BUT I DON'T HAVE A DEPOSIT!

12-11-19

Buying a house can be a complicated process, but for a lot of us the hardest part is actually saving the initial deposit (ideally 20% of the property’s value). Compared to even twenty years ago, the percentage of income needed is much higher, meaning even the most diligent savers find it difficult to get started. So what do you do if you really want to step onto the property ladder but just can’t accumulate enough deposit?  The good news is that you still have options, but the pros and cons of each need to be carefully considered.

more

 

 

09-08-19

Lower interest rates and the decrease of assessment rates means greater lending capacity for home buyers.

With regulators having applied the brakes to lending in recent years, (some estimates claim borrowing capacity has reduced by as much as 30%) the Australian Prudential Regulation Authority (APRA) has decided to lower the minimum interest rate serviceability buffer from 7% to a level determined by lenders.

more

 

 

 

09-08-19

AUGUST 2019 HOUSING MARKET UPDATE

With official interest rates trending downward, shrewd mortgage holders may take the opportunity to call their lender to ask for a better deal.

But when even a small interest rate reduction means potential savings of thousands of dollars, is a simple phone call really enough to get you there?

more

 

 

 

09-08-19

IS ONE PHONE CALL REALLY ALL IT TAKES TO SECURE A BETTER RATE?

With official interest rates trending downward, shrewd mortgage holders may take the opportunity to call their lender to ask for a better deal.

But when even a small interest rate reduction means potential savings of thousands of dollars, is a simple phone call really enough to get you there?

more

 

 

 

03-04-19

APRIL 2019 HOUSING MARKET UPDATE

In news this month, tighter credit conditions are still having a broad dampening effect on buyer activity. This isn’t just with investors, there has also been a considerable decline nationally in owner-occupier lending, according to CoreLogic.

more

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