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.

The Time to Invest is Now

High demand, low supply, changes to lending, low interest rates, and a shifting population, these are some of the reasons why now is the perfect time to invest. I see the current leasing climate as the ideal time to secure an investment property, and as a wealth creation strategy you should see a strong capital gain in years 2-5.

Local Strength and Confidence

The stage 4 restrictions in Melbourne are creating a mini surge in our local marketplace. The feedback from buyers is that they see the current lockdowns as an opportunity to purchase property without the competition of Melbourne buyers. The market activity suggests that the stage 4 lockdown has completely restricted the amount of non-local buyers,[…..]

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