With many confident the RBA will be cutting interest rates at the upcoming June meeting, Australia's banking regulator APRA (Australian Prudential Regulation Authority) has announced a proposal to scrap a rule requiring mortgage customers' lending capacity to be assessed at an inflated interest rate. Introduced in 2014 as a measure to contain rising house prices and housing investor loan …
Purplebricks exit no surprise to those in real estate
Purplebricks is to exit Australia after 2.5 years. I don't think too many in the real estate industry are going to be surprised by this news. It just goes to show the importance of understanding your market and target audience, which is where I think Purplebricks missed the mark. I know that as a buyer's agent, when dealing with any property being sold by Purplebricks, it was such a …
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RBA announce rates prior to upcoming election
Despite much anticipation the RBA has decided they will keep rates on hold for another month, announced less than a fortnight out from the federal election. A record low cash rate of 1.5% has now been held since August 2016, although money market traders do not expect it to remain there much longer. It has been anticipated that the official cash rate would be cut due to consistently …
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The suburbs most popular for Victorian first-home buyers
Buyers and sellers advocate Wendy Chamberlain from Chamberlain Property Advocates has spoken to Domain regarding Melbourne's first home buyer's preference towards buying homes closer to Melbourne CBD, shunning long commutes. "Wendy Chamberlain said she had noticed a move towards the northern suburbs over the past six to eight months. “They’re definitely buying based on a budget under $600,000,” …
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More Older First Home Buyers Getting into the Melbourne Housing Market
As the housing prices in Melbourne continue to fall, more older first home buyers are finding opportunities to purchase their own homes. Latest statistics shared by Herald Sun & realestate.com.au have confirmed. Figures from the State Revenue Office showed that the number of first home buyers aged 40 and above was almost the same as the younger ones aged 25 and below. From July 2018 to …
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RBA’s budget day rates decision
Already using Social Media? Follow chamberlainadvocates.com.au for the latest about tips and tricks when it comes to buying a home and hiring a buyers advocate. The Reserve Bank of Australia delivered its verdict on interest rates for April 2019, just hours prior to the federal budget being handed down. Despite both economic growth and inflation continuing to undershoot forecasts, the …
The Melbourne downsizers buying city properties to suit their beach lifestyle
Buyers and sellers advocate Wendy Chamberlain from Chamberlain Property Advocates has spoken to Domain regarding what is currently on Melbourne downsizers' wish list. “I think there is a definite trend of downsizers buying a low-maintenance city base in Melbourne that offers them quick and easy access to freeways to escape down the coast as they please. They know the timings necessary to leave by …
Melbourne’s most expensive suburbs and where to look instead
It's well documented that Melbourne Property prices are dropping, however it doesn’t mean every suburb is offering the ultimate bargain. Wendy Chamberlain spoke to Domain regarding more affordable, alternative suburbs to the highly sought after suburb of Toorak. Local suburbs of South Yarra, Prahran and Armadale may offer a similar lifestyle. “Nowadays in Melbourne, you can get the lifestyle …
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Relisting for sale: Vendors change their approach as Melbourne house prices drop
As the Melbourne housing market weakens some home owners are dropping their asking prices or making minor updates in preparation to relisting properties that had previously failed to sell. Wendy Chamberlain has spoken to The Sunday Age regarding this topic. “I’ve been seeing this for the past 12 to 18 months where an agent will have a property on the market and they’re trying to sell it for an …
RBA rates on hold for 29th consecutive month
The Royal Bank of Australia yesterday announced that interest rates will remain at 1.5 per cent, where it has sat ever since August 2016. RBA governor Philip Lowe said the low interest rate would continue to support the economy: "Further progress in reducing unemployment and having inflation return to target is expected, although this progress is likely to be gradual," "Taking …
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