Auction clearance rate rising in Sydney and Melbourne

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The auction clearance rates of Sydney and Melbourne at 2015 high

The auction clearance rates of Australia’s two largest cities Sydney and Melbourne are at the highest that they have been since the start of 2015.

Mortgage Broker Oak Laurel by Nigel Abery (PhD), Principal Mortgage Broker at Oak Laurel.

APM Market Reports data shows that the auction clearance rate in Sydney last week 21 – 28 March 2015, was at 88% up from the previous weeks clearance rate of 84%. Whilst Melbourne’s auction clearance rate last week was at 79% up from the previous weeks clearance rate of 76%. The auction clearance rate of other major cities remain subdued, with Brisbane’s auction clearance rate at 46%, the same level as it has been previously this year and Adelaide at 63%, down from this year’s high of 66%.

High auction clearance rates typically reflect high demand and property price rises, so further price rises are expected in Sydney and Melbourne over 2015. These results come on the back of the recent, Feb 2015 cash rate cut byt the Reserve Bank of Australia, which was predicted to stimulate price growth in the Australian housing market.

Are you buying in Sydney or Melbourne and need to organise your finance? Maybe you have a home loan and want to make sure you are getting a good deal.

Contact our mortgage brokers in Melbourne or one of our Sydney mortgage brokers to arrange a free consultation.

 

 

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Bigger homes in high demand in Melbourne in 2015

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Data shows that bigger homes are in high demand in Melbourne in 2015

Data from the Real Estate Institute of Victoria suggests that bigger homes are in higher demand in Melbourne in 2015. Capital gains (as a percentage) for larger homes (4 bedroom or 3 bedroom houses) have been greater than for smaller properties across inner and middle Melbourne. The increased demand and prices for larger properties also applied to apartments in those areas.

The exception was one-bedroom apartments in outer Melbourne reflecting a shortage of supply of this type of property and increasing interest from investors in those areas.

The trend towards high demand for larger homes is not a new trend. This is despite the trend of a decreasing number of people per household in Australia. This is on top of Australia already has a one of the largest average home sizes, compared to other countries.

Higher demand and higher prices for larger homes in Melbourne mean larger mortgages

With property prices on the rise in Melbourne, people’s mortgages will be getting bigger. The Feb 2015 Reserve Bank of Australia (RBA) cash rate cut has resulted in many lenders reducing their interest rates but not all by the same amount. If you would like to investigate if your home loan is still competitive, please contact an Oak Laurel mortgage broker in Melbourne for a free home loan check-up.

 

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Accountants are you getting the best deal you can get on your home loan?

The post Accountants are you getting the best deal you can get on your home loan? appeared first on Oak Laurel.

Accountants can get special offers on their home loan (mortgage) from some lenders, if you are an accountant are you getting the best home loan for you?

Some accountants can get special offers on their mortgages from some lenders. These special offers can save accountants many thousands of dollars in home loan payments over the life of the loan if they choose to use them. As an accountant you know what difference getting the best home loan you can get  will make to your bottom line, why would you not make sure that you can’t get a better deal?

Are the specials only on home loans for chartered accountants?

Special housing loans for chartered accountants are available. However, other accountants, not just chartered accountants, may be eligible for the accountant home loan specials.

What are the mortgage deals for accountants?

Information about the mortgage deals for accounts can be found here: mortgage deals for accountants

Are there certain criteria that need to be met to get a special accountant mortgage (including chartered accountant mortgages)?

Yes, accountant mortgages, including chartered accountant mortgages must satisfy the lender’s criteria. This includes requirements on your income level, your ability to meet the home loan repayments now and when interest rates rise, criteria about the property that you are buying (or refinancing) and if it is an acceptable type of property and location of the property among other things.

Are AMP home loan the only ones that offer specials for accountants?

For non-charted and chartered accountants amp home loans are not the only options available, some other lenders will provide special deals for accountant home loans.

Do you want to compare your accountant home loan options?

If you are an accountant, because of the potential saving that you will make, you will want to compare the accountant home loan special options that are available to you. If you are able to get a better interest rate or some other benefit then this could end up saving you a large amount of money on your home loan, which is probably one of your major, if not the major expense that you have in your budget.

 

Oak Laurel Mortgage Brokers – Home loans made easy!

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Why should you use a mortgage broker instead of going directly to a bank?

There are some advantages to using a mortgage broker instead of going directly to a bank or lender which can end up saving you thousands of dollars over the life of your home loan. Watch this short video about you you should use a mortgage broker (in Australia).

Originally from Mortgage Broker Wiki.