Speedway Loan in Gordon | Mortgage brokers

Speedway Loan

Locality: Gordon

Address: Suite 105/780 Pacific Highway 2072 Gordon, NSW, Australia

Website: http://www.speedwayloan.com.au/

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23.01.2022 Auctions continue to improve Sydney With the mid-October ‘Freedom Day’ in view, Sydney’s auction market continues to perform well. 871 properties were taken to auction in Sydney last week according to SQM, a jump from 723 the week before, and the highest volume since mid-July.... Melbourne In Melbourne, 580 properties were taken to auction last week according to SQM. This was well down from the 1,500 levels seen a month ago, but up slightly from 527 put under the hammer a week earlier. Elsewhere Adelaide recorded the highest auction rates for a major auction capital, with an 85.0% clearance rate last week on 216 auctions, although Perth had a 90% rate on just 18 auctions, according to CoreLogic.

22.01.2022 The property markets most vulnerable to remote work disruption The pandemic has changed where, and how, we work. These changes are already having an impact on the property market and will continue to do so as more city-dwellers take advantage of the lifestyle benefits and lower housing costs outside of cities. What industries have the greatest work-from-home capability?... Jobs that can be done remotely are most predominant in industries such as education, professional services, finance and media. These industries have many office-based jobs that have been shown throughout the pandemic to be able to be completed remotely. The concentration of those able to work remotely is the highest close to cities Those living close to major cities are most likely to be able to work from home. This is not surprising given industries focused on information and heavy use of technology have benefited from the density of complementary skills within cities. High-priced markets have the highest potential for disruption Increased work-from-home flexibility in the aftermath of the COVID-19 pandemic has the greatest potential to affect expensive housing markets. This is for two reasons. First, expensive markets are almost always close to CBDs and therefore have the highest share of workers able to work from home. Second, those living in expensive markets have the greatest potential to save money by reducing their housing costs by moving. Alternatively, many may be able to purchase larger homes in regional areas, for example, to support growing families. This combination of higher ability to move and maintain current employment, and greater benefits from doing so, means expensive property markets in inner cities are likely to be the most vulnerable to post-pandemic working arrangements.

22.01.2022 ABS stats lay bare major mortgage market shifts Australian Bureau of Statistics says that refinancing reached a new high of $17.2 billion in July 2021. The first home buyer segment plummeted in the same time period, falling 7.6% month to month and down 17.4% from its peak in January. Fixed rate loans have also nearly overtaken variable rates as borrowers race to get the best rate they can, rising from a low of beneath 20% of the market - when variable was, consequently, above... 80% - to north of 40%. With most banks now raising their long-term interest rates in anticipation of an RBA cash rate rise ahead of schedule, customers are clearly attempting to lock in a 2021 rate for the long-term. The value of refinancing between lenders was 60 per cent higher in July 2021 compared to a year ago. Borrowers seeking out lower interest rates, particularly for fixed rate loans, and cashback deals across a large number of major and non-major lenders. First home buyer lending fell across all states and territories, with the largest fall seen in Victoria, followed by Queensland and New South Wales. These falls were still tied to the unwinding of strength in construction lending post-HomeBuilder, the decline in first home buyer loan commitments now appears more widespread.

22.01.2022 CBA reports strong lending growth The Commonwealth Bank of Australia (CBA) has released its half-year results for the 2021 financial year, revealing that home and business lending grew significantly over the six months to 31 December 2020 (1H21). According to the 1H21 results, CBA’s home loan portfolio was $423 billion in December 2020, or $498 billion when including loans written to its subsidiary, Bankwest. These represent an increase of 5 percent and 3 percent ($13 billion...), respectively, when compared with the same period the year before. CBA CEO Matt Comyn noted that the bank had seen a particularly strong December, with $3 billion in loans funded that month, adding that January was also expected to return strong results. A growing proportion of its loans were being written by the broker channel, the CBA results show, with the proportion of new business from brokers rising from 42 percent in 1H20 to 44 percent in 1H21 (or 48 percent, when including Bankwest). According to the major bank, the growth in mortgages can be attributed to the resurgence in the housing market and an increase in borrowers coming to market as a result of low-interest rates and stimulus measures. Looking at deferrals, the major bank revealed that over 70 percent of customers who had deferred repayments on 250,000 home, personal, and business loans during COVID-19 had resumed repayments

22.01.2022 Why there's never been a better time to go to market Selling a home successfully is a numbers game. The bigger the pool of buyers, the better the odds are of getting the best price. While selling off-market can be an appropriate method in certain cases, vendors could be doing themselves a disservice by slipping under the radar especially in the current environment, according to the director of economic research at realestate.com.au Cameron Kusher.... It is clear that there is very strong demand to purchase homes at the moment, Mr. Kusher said. We’re also seeing sales volumes early in 2021 significantly higher than they were in both 2019 and 2020 prior to the impact of COVID. There are also so many new buyers in the market at the moment the only way to reach everyone is to advertise. That’s precisely the message behind Brisbane-based Hutton & Hutton'sSell Loud’ campaign, encouraging sellers to reap the benefits of the current market. Mr. Hutton said selling off-market can be an easy way to sell homes as it cuts out the competition and is often quicker and cheaper than executing a traditional marketing campaign. But the process often doesn’t deliver the best results for vendors, he said. Social proof and relative scarcity are the two most powerful ingredients for a high sales result, particularly in a high-income area. A vendor who chooses to deal solely with a selected buyer could be doing themselves a disservice if they aren’t exposing the property to a broader market.

21.01.2022 House price rise to top 20% in 2021: ANZ ANZ has forecast average capital housing prices to rise just over 20 per cent in 2021, up from its March forecasts of between 15 and 20 per cent. The forecast upgrade is a reflection of stronger than expected performance of the housing market to date, with the Delta variant of COVID-19 unlikely to derail the growth. However, it is expecting more tame average price gains of 7 per cent in 2022, given the increased uncertainty around the ...outlook amid the third wave of COVID-19, slightly higher fixed mortgage rates, and the prospect of regulators pulling macroprudential levers. The major bank added that recent growth in housing finance suggested that prices would continue to rise strongly in the coming months. ANZ still expects regulators to step in with the introduction of macroprudential measures to cool the red-hot housing market and had previously expected this to occur before the end of 2021.

18.01.2022 The House Always Wins: Homes Outstrip Unit Sales In the year to January, CoreLogic estimates that there were 459,308 properties transacted across Australiamost of these sales were houses, rather than units. It is not unusual for house sales to make up the majority of transactions, with houses making up an average 70.2 percent of annual sales volumes over the past decade.... However, the share of houses as a portion of sales increased to 74.2 percent in the year to January 2021, up from 73.2 percent a year ago and 66.7 percent five years ago. Another way of thinking about it is that for every 1 unit sold over the year, there were 2.9 house sales. The general uplift in the share of sales that were houses through the year to January may be attributed to a few of factors. The introduction of HomeBuilder may have skewed demand toward houses. Since the announcement of HomeBuilder in June, new home sales have increased significantly. According to the HIA, new home sales in the December 2020 quarter were almost 100 percent higher than in December 2019. However, the design of the scheme largely lent itself to new houses, as opposed to units. An example of this was the tight timelines for eligibility, where the commencement of a new property initially had to take place within three months of the contract date. This meant the take up of the scheme was largely utilized for detached houses, rather than off the plan unit sales, with the latter requiring a number of purchaser commitments before the project commences. This trend was reaffirmed in ABS dwelling approval data, where approvals for house builds were up 13.9% in the year to December 2020, compared with an -8.6% decline in unit approvals. Corelogic sales volumes only count new properties as sold upon settlement, so the portion of new home sales over 2020 may continue to trend even higher once new house builds are completed.

16.01.2022 Australian housing values rising at the fastest annual pace since June 1989, but the monthly rate of growth continues to lose steam - CoreLogic CoreLogic’s national home value index rose another 1.5% in September, taking Australian housing values 17.6% higher over the first nine months of the year and 20.3% higher over the past 12 months. The annual growth rate is now tracking at the fastest pace since the year ending June 1989. Although growth conditions remain positive, it ...is becoming increasingly clear the housing market moved past its peak rate of growth in March when national dwelling values increased by 2.8%. Since that time, the monthly rate of growth has eased back to 1.5%. The slowing growth conditions are the result of higher barriers to entry for non-homeowners along with fewer government incentives to enter the market. The slowdown in first home buyers can be seen in the lending data, where the number of owner-occupier first home buyer loans has fallen by -20.5% between January and July. Over the same period, the number of first home buyers taking out an investment housing loan has increased, albeit from a low base, by 45%, suggesting more first home buyers are choosing to ‘rent vest’ as a way of getting their foot in the door. Despite worsening affordability, house values are still generally rising faster than unit values; a trend that has been evident throughout most of the COVID period to date, especially across the capital cities. Hobart and Darwin are the only capital cities where this trend has not occurred, with unit values rising 5.4 percentage points and 4.8 percentage points more than house values respectively over the past 12 months.

14.01.2022 Australia is set to restrict home loans to new borrowers in a bid to lower risks in the hot property market Federal Treasurer Josh Frydenberg has confirmed lending restrictions are on their way. Speaking to The Australian Financial Review, Frydenberg indicated targeted and timely adjustments would be made, as credit growth and property prices outstrip wages. Specifically, Australia’s financial regulators are expected to restrict the size of new loans, with a view to ...keeping it below six times a borrower’s income. While the AFR reports no timeline has been set, Frydenberg’s comments pave the way for new restrictions in the coming weeks and months. Whether it will be sufficient to slow price growth a by-product, not the aim of tougher lending standards remains to be seen.

13.01.2022 Is the housing market faring better through lockdowns in 2021? The past 16 months have seen remarkable levels of adaption in the real estate sector, government stimulus and economic decline and recovery. Amid renewed and extended lockdowns, some indicators suggest the housing market has been even more resilient to lockdowns in 2021 than through 2020. Consumer confidence has been more resilient... Consumer sentiment is an economic indicator that is generally positively correlated with home sales. This makes sense, given consumers would presumably be optimistic about their own financial situation when deciding to make a large financial commitment like a home purchase. Transaction activity has declined, but not as heavily as last year The fall in newly advertised stock has also been milder through 2021. For the week ending August 29, there were around 1,350 new properties added to the market across Sydney. This is about -23% lower than the five-year average prior to COVID-19, but the number has been climbing. Auction results are diverging between Sydney and Melbourne Sydney auction results have remained high through lockdown conditions. Since the week starting 28th of June, when a city-wide lockdown was in place, the auction clearance rate has averaged 75.9% through to late August. The volume of properties clearing at auction have averaged 474 per week, which is actually the highest average of weekly auction sales for the period since 2015. Melbourne auctions have played out differently since the start of the 6th lockdown across the city. The final auction clearance rate has averaged 59.4% so far through the current lockdown.

07.01.2022 Mortgage stress mounts as support winds back Mortgage stress had increased in the three months to November 2020 compared with three months prior, indicating that winding back government support would test the housing market, according to research. The measures that are expected to be wound back include the JobKeeper wage subsidy and the JobSeeker COVID-19 supplement, which are due to expire at the end of March, and the loan repayment deferral schemes, which are also being p...rogressively halted. Indeed, figures from the Australian Prudential Regulation Authority had revealed that as at 31 December 2020, only $51 billion worth of loans were on temporary repayment deferrals, around 1.9 per cent of total loans outstanding. Housing loans on deferrals had totalled $42.9 billion, which is around 2.4 per cent of total loans subject to deferrals, making up the majority of total loans granted repayment deferrals. The withdrawal of this support has increased the importance of tracking the level of mortgage stress during 2021, adding that it could provide an early indicator of potential financial problems on the horizon in the near future. Because of the extensive government support and deferred payments on housing loans provided by banks and other financial institutions, the impact of COVID-19 is yet to be fully felt.

06.01.2022 Buyer demand expected to spike in count down from Spring to Christmas 2021 Sales and anecdotal evidence is strongly suggesting that first home buyers are coming back to off the plan market, as it starts to represent great value compared to the strong established market. Developments across the country, particularly those in Melbourne, Sydney and Queensland, are gearing up for one of their busiest periods from the launch of spring in the lead up to Christmas. Last December saw... the pent up sales demand released, as face-to-face appointments became available again, and 2021 feels like deja vu, with the added driver that international borders may be open by Christmas, or not soon after. That will bring in the next wave of buyers, the local and overseas investor, who have been sitting on their hands for the most of 2021 due to the lack of immigration to Australia. Now with the expectation of international students, expats returning to Australia, and more flexible travel between states, experts believe sales across Australia's East Coast will jump during the final quarter of 2021. Despite the ongoing lockdowns, Australia has still come out of the pandemic as one of the safest countries to handle the virus. Covid has affected many financially, there is still so many buyers who are either not affected or wanting to get on with their life, which can include investing, first home buying, upsizing and downsizing.

05.01.2022 Effective Sept 20, Commonwealth Bank is giving medical professionals 95% with no LMI for security under 2.5m!!! Hurry, be one of the 1st few to avail of this promo! Send us a message!

03.01.2022 Rate Update! Now is the time to grab this offer from Virgin Money and get a $3000 refinancing rebate! If you would like me to review your home loan or discuss options please call me on or send me a message, happy to chat anytime. ... #allenchenmortgagebroker #speedwayloan #mortgagebroker #realestatetips #australianmortgage

02.01.2022 What happens when international students return to Australia? Missing international students have had a direct effect on landlords who specialise in leasing residences to these tenants, and fewer students mean increased vacancies and lower rents. All international students returning to Aussie shore's as residents is still years away. ... Best estimate is that Australia will get back to 75% of 2019’s resident international student population in 2022, but that getting back to 100% will take until 2024 or 2025. Australia looks likely to reopen travel first with the UK, the US, Singapore, Japan, Canada, and Fiji none of which send significant numbers of students to Australian universities. Travel from the countries that account for more than 60% of international students in Australia will take even longer. What will this mean for rental markets? Juwai IQI Co-Founder and Group Executive Chairman Georg Chmiel believes that students may be forced out of the popular inner city and spread across the regions. "You may see them leasing in a more diverse range of suburbs as they find that apartments in their traditional neighborhoods aren’t just sitting empty waiting for them to return," Mr Chmiel said. "And you will see more students concentrate in purpose-built student housing, which offers an alternative to renting on the housing market."