Investors Surge Back: What It Means for First Home Buyers
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- Опубліковано 27 чер 2024
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Today we explore the latest developments in the Australian property market, including rising house deposit costs and new investor trends. We discuss the implications of delayed rate cuts by ANZ and increasing mortgage stress for homeowners. And also highlight new government incentives in Queensland, offering significant financial relief for first-home buyers.
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1. News Article on Mortgage Stress and Interest Rates www.news.com.au/finance/econo...
2. CoreLogic June 2024 Monthly Housing Chart Pack content.corelogic.com.au/l/99...
3. First Home Concession Increase Statement statements.qld.gov.au/stateme...
4. Reddit Discussion on Melbourne vs Brisbane / buying_in_melbourne_is...
5. Property Update on House Deposits in Each Aussie City propertyupdate.com.au/how-muc...
6. Australian Financial Review on Investor Rush www.afr.com/property/resident...
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00:00 Investors Surge Back: What It Means for First Home Buyers
00:34 Mortgage Stress Climbs amid inflation, interest rate pressures
06:34 Stamp duty changes for first home buyers
08:25 How Much You Need for a House Deposit in Each Aussie City
11:20 Investors Rush into Housing at Fastest Rate in More Than Two Years
12:45 CoreLogic June 2024 Monthly Housing Chart Pack
18:35 Buying in Melbourne is Cheaper than Brisbane
22:00 Conclusion
Back in the day, when I purchased my first home to live-in; that was Sydney in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes.If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
@@LucasBenjamin-hv7sk Impressive can you share more info?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with Annette Marie Holt for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
What percentage of home owners actually have a mortgage ?
What percentage of home buyers actually require finance?
These figures reflect a lot on the effect of a changing cash rate on house prices.
6:20 amazing point! How many Aussies find it easier to spend their deposit on travelling overseas. It’s already hard to save with the myriad of cost of living but it’s postponing security in shelter. The priority is to secure a property with a deposit. House and land is the best option for first home buyers.
Thanks for sharing your thoughts. You’ve hit the nail on the head! Saving a deposit can be extremely challenging which is why most people give up. But shelter and security should definitely be top priority!
the rate cuts and electricity rebate is a joke, we received an increase in electricity rates notice from our power provider as soon as the govt announced the power rebate.
Meh, it's more than I've gotten from the federal Gov in over a decade. Not to mention I'm actually getting a tax cut now thanks to them
Be interested on your take of the vic govt pushing landlords to pay more ie land tax and proposed energy efficiency law, and Moreland council wanting to charge investment properties more rates to make landlords sell, I think many properties will go for sale this pushing up rents with less stock or charges being passed onto renters.
When we consider cash sales vs mortgage based sales
we are also working in differing quartiles.
Here is an estimate :
Cash sales: approximately $123.84 billion per year
vs Mortgage-based sales: approximately $220.16 billion per year
So, mortgage-based sales account for about $96.32 billion more than cash sales each year ($220.16 billion - $123.84 billion).
Keep in mind that these figures are estimates based on 2020 data and may have changed since then.
You are competing with people that don't have to worry at all about the cash rate.
it's mind blowing how many cashed up people are in our market .
If you look at my previous comments,
you will see that almost 1 in 3 don't have to worry about the cash rate.
Economic investigator Frank G Melbourne Australia is following this very informative content cheers Frank 😊
Hi I bought a house worth 700k in qld 9 months ago. Any chance they will backdate the stamp duty exemption? 😭😂
Brisbane will normalise and Melbourne will bounce back with avangeance