We’ve made it to spring! As the season changes, so does the property and lending landscape. Here are four stories making headlines right now:
- Buyers remain active
- Property history lesson
- The dangers of BNPL
- Why rents are rising
There are still a lot of active buyers in the property market, judging by the latest home loans data from the Australian Bureau of Statistics.
Borrowers signed up for $28.4 billion of new home loans in July. That was 11.3% lower than the previous year but 47.3% higher than the average over the previous 15 years.
So while conditions are much more buyer-friendly than they were during the recent property boom, there’s still quite a bit of buyer competition, especially for quality homes.
Meanwhile, refinancing activity is close to record-high levels.
Borrowers refinanced $17.9 billion of home loans through new lenders in July – which was not only 7.6% higher than the year before but also the second-biggest refinancing month in history.
With interest rates rising, many people realise how important it is to be on a lower-rate loan, so they’re shopping around.
I’ve helped many people refinance, and I can help you too. Get in touch so we can discuss your options.
Reach out if you want to refinance
Dip. of Management (Deacon University)
Dip. of Finance/Mortgage Broking Mgt.
Assoc. Cert. of Business (Real Estate)
Assoc. of Mort. Ind. Assoc. of Aust. (AMIAA)
Terry Boag is the founder and CEO of Peel Finance Brokers and has been providing professional and loyal service to the Mandurah and southwest area for 25 years. With a long history of financial experience, Terry is reliable and dedicated to his clients, always ensuring the highest customer service and delivering strong lender relationships.