News – November 2016 – Auction clearance high, interest rates held, consumer confidence rising


There’s been lots reported on recently that is of interest to home buyers, so I thought I’d sum it up for you as best I can…
Auction clearance rates are consistently up over 80%, which is the highest they’ve been all year, and significantly higher than the same time last year when they were just over 60%. This is great news as it means that people properties are selling, which will encourage more activity in the market.

The government wants to stimulate the market for first home buyers. We’re not sure exactly how this will play out yet, but the fact that the government has recognised that first home buyers are often priced out of the market is a good start. Let’s hope that there will be some significant steps taken to help get people into their first home…. stay tuned.

Inflation figures are out and they’re showing that the RBA moves to stimulate spending have had the desired effect, with inflation heading in the right direction at a good pace. This means that confidence in our economy is building and that’s a good thing!

While it’s impossible to predict, we also believe that there’s unlikely to be future rate cuts in the short term.  So now is as good  time as any to review your home loan if it’s over a couple of years old. You could be saving a substantial amount of money if we can secure you a new, low rate.

If it’s your time to buy or refinance, call me. I’d love to help!
Michael Luca
0405 113 543

michael@lovehomeloans.com.au

PS There’s also significant changes to strata laws that are coming into effect on 1st December 2016. If you own an apartment, townhouse or villa in a strata building, it is important that you know about these changes. A good summary can be found here, or contact your Executive Committee or Strata Manager to find out more.