What Impact Do the Recent Government Budget Announcements Have on Property?

The recent State and Federal Government Budget announcements have highlighted the ongoing approach to boosting the rate of homeownership. The impact of this is a double-edged sword. The goal of the schemes is to reduce housing costs, making it more affordable and accessible to buyers. While conversely, the strength of the economy is largely centred[…..]

A Predictable Four Years Ahead?

All going well; the next 3-4 years is shaping up to be quite predictable. Long term interest rates for 4-year fixed-term loans have been increased by a number of lenders, which suggests that the banks are expecting a rate rise at this time. I feel that lenders will start to be a little more cautious[…..]

The Next 6 Weeks…

The 5-day lockdown over the Valentine’s Day weekend has added fuel to the fire in regard to buyer demand. The fear of missing out was amplified by the sudden inability to inspect property. The biggest driver is coming from those buyers that have sold and are buying back in the market as they upsize, relocate, or laterally move across markets.

Changes to the First Homeowners Grant (FHOG)

A subtle and unpublicised change to the first homeowners grants (FHOG) is set to have an impact on the demand for newly built homes. I would encourage all first homeowners to visit the website of Victoria’s State Revenue Office to gain clarification on what homes are eligible for the FHOG. The major change is in relation to what constitutes a new home.

Using Christmas to Your Advantage

Until unemployment levels get below 5%, which is not expected to happen until 2022/23, we will continue to see low interest rates. This is not ideal for everyone but those that can take advantage of this should. Geelong specifically has a lot to look forward to in the next, 3,5, 10 years with every little win having a profound impact.

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