Property Finance Australia in North Sydney | Bank

Property Finance Australia

Locality: North Sydney

Phone: +61 404 242 033

Address: Level 3 & 4, 153 Walker Street 2060 North Sydney, NSW, Australia

Website: www.linkedin.com/in/propertyfinanceShore

Likes: 443

Add/Update information

Reviews

Tags

• Financial service
• Mortgage brokers
• Bank
• Investment bank

21.01.2022 Australia's average household #wealth has passed the $1 million mark for the first time, up more than 37% compared with a decade ago, thanks to #property prices and surging #superannuation balances. Income and wealth inequality have remained relatively stable since 201314, and the distribution of #income between rich and poor actually improved marginally over the past decade according to the Australian Bureau of Statistics. The average net worth, taking account of #debt, fo...r all households was $1 million last financial year, up slightly from $963,800 in fiscal 2016, and up a massive 37% in real terms compared with 200506. However, median wealth per #household is almost half the headline figure at $558,900. Households are on average considered to comprise 2.6 people, which technically lowers the overall wealth for individuals. Rising property values are the main contributor to this increase, with total average property values having surged to $680,900 in 2017-18, up from $649,800 in 2015-16. The average household superannuation balance has almost doubled (up 90%) from $112,500 in 200506 to $213,700 in 201718. Although property prices have pulled back since their peak in 2017, they surged as much as 70% in the preceding five years.

18.01.2022 Buyer Relief As Sellers Return to Auction Markets Auction markets are finally showing positive signs of the long-awaited return of sellers following a sustained bleak period of under-activity from that group. Sydney recorded its first rise in weekend auction numbers for two months with Melbourne auctions increasing for the second consecutive weekend.... Although numbers are increasing, auction listings still remain significantly lower than recorded at the same time last year with sellers still wary of testing the market. Low listings have acted to place a floor under clearance rates and generally increase buyer competition for available property. Despite the lift in listings, Sydney and Melbourne clearance rates continued to track at two-year highs but with sterner tests however ahead as auction volumes keep rise through late winter and into spring. #houseprices #housingmarket #auction #auctionresults

17.01.2022 #Firsthomebuyers wanting to tap into the federal government's new #depositscheme will be limited to properties sold for less than $700,000 in #Sydney and $600,000 in #Melbourne. The scheme allows 10,000 low to middle-income earners to purchase a property with just a 5% deposit. The initiative begins on January 1st next year and removes the cost of lenders mortgage insurance #LMI for individuals with an annual income of up to $125,000 or couples with a combined $200,000 who ha...ven't saved the standard 20% deposit required by #banks. It is expected to cut the time taken to save for a deposit for by at least half. The capital city price caps will apply to large regional centres with a population in excess of 250,000, namely the #GoldCoast, #Newcastle and #LakeMacquarie, the #SunshineCoast, #Illawarra (#Wollongong) and #Geelong, recognising that dwellings in large regional centres tend to be significantly more expensive than other regional areas. The Scheme complements other Coalition Government initiatives to reduce pressure on housing affordability in Australia and support local communities.

17.01.2022 No Hint of Pre-Spring Seller Buzz Yet In Auction Markets Auction sellers continued to meander their way back into auction markets at the weekend with no real sign yet of a pre-spring surge in listings. Although auction numbers increased for the second consecutive weekend in Melbourne and Sydney, the rate of increase was well below that recorded over the same pre-spring weekend last year. ... And auction listings remain well below the same weekend last year particularly in a clearly subdued Melbourne market, usually Australia’s home auction capital. Relatively low auction numbers however continue to put a floor under clearance rates which remained at strong levels at the weekend reflecting robust buyer competition for scarce available stock.

17.01.2022 Sydney Buyer Action Hot But Listings Still Terrible Sydney’s pre-spring weekend auction market continues to generate strong buyer competition but seller numbers remain disturbingly low for this time of the year Sydney recorded another 2-year high clearance rate on Saturday at 79.6% - higher than the previous weekends 79.2% and well ahead of the same weekend last year's 54.2%... Although auction numbers increased for the 2nd consecutive weekend, the rise was marginal with no sign yet of any significant pre-spring seller enthusiasm. 376 Sydney homes were listed for auction on Saturday which was marginally higher than the previous weekend’s 324 but 25% fewer than the same weekend last year's 499. Sydney’s median auction price increased again at the weekend to $1,230,000 compared to the previous weekends $1,140,000 but remained lower than the same weekend last year’s 1,242,500. Higher-priced inner suburban regions again reported the top regional results led by the Northern Beaches, the Inner West and the City and East with boom-time clearance rates. Consistently strong auction results should encourage wary sellers into the spring market despite the latest media scare campaign regarding the prospect of a recession - yes really..

15.01.2022 #Inflation Still Low - But Rates Likely to Remain Steady Latest ABS CPI data for the September quarter reveals that Australia’s inflation rate remains low but steady. Underlying inflation increased by 1.6% over the year ending the September quarter which was the same as recorded over the previous June quarter.... Although the latest data confirms ongoing subdued prices growth, the Reserve Bank is unlikely to cut rates again next week following 3 cuts over the past 5 months

13.01.2022 #Melbourne Auctions Return As Others Take a Holiday Another topsy-turvy weekend for auction markets with holiday distractions impacting listing numbers in some capitals but the Melbourne market has surged back following last weekends pause for the AFL Grand Final long weekend Clearance rates however generally remained near the strong levels recorded over the past month with the Melbourne market revealing its buyer depth despite listings now tracking a little closer to the ...levels of last year at the same time. Already confident buyers will be further buoyed by the predictable cut in rates by the RBA last week and signals that more are likely to follow, particularly given disappointing retail turnover data from the ABS with no sign of a bounce from the recent tax cuts

13.01.2022 From a #property market perspective, a virus is a one-off event which comes and goes within a relatively short period of time. Like SARS (2002-3) and swine flu (2009-10), we all have every reason to expect that this #coronavirus risk will be largely gone within months, not years. While I agree that the global quarantine efforts to contain the coronavirus has the potential to have a significant impact on the national #economy, I anticipate that the federal budget (as opposed t...o the local economy of every town and city) will wear the biggest brunt. And it will be short-term. Well-established, sustainable businesses adjust to one-off events, they draw on financial reserves as required, and they get on with it. In time, they look back on the financial results of that isolated situation as a small moment in time. The short-term reduction in the supply of some goods and services due to global quarantine measures will be offset by a bloody big and targeted stimulus packages, additional fast-tracking of #infrastructure projects, and some cuts somewhere else in the Federal Budget. Other countries are also likely to introduce stimulus. All of the pent-up demand created during these quarantine months will be followed by a big surge as we have seen in the past.

12.01.2022 The best and worst #superfunds have been revealed. How has yours performed over the last 5yrs?

11.01.2022 Are you a first home buyer? Join the largest support group in Australia. No spam, no annoying real estate sales agents and no BS - just great educational information daily.

10.01.2022 #Sydney Auction Clearance Rates Heading For 80% - Can You Believe It? Sydney’s weekend #auction clearance rates continue to soar and are now remarkably on course to reach the boom-time benchmark of 80%. Sydney recorded another 2-year high result on Saturday with a 76.0% clearance rate which was well ahead of the previous weekends 71.7% and light years away from the same weekend last year's 52.7% ... Low listings are clearly influencing higher clearance rates, providing buyers with limited choices. Only 283 homes were reported listed on Saturday which was similar to the previous weekend’s 289 but again well down the 347 auctioned over the same weekend last year. Sydney’s weekend median auction price of $1,187,000 was slightly lower than last weekends $1,195,000 but again higher than the same weekend last year’s $1,072,000 Canterbury #Bankstown and the #UpperNorthShore were the top regional performers at the weekend with the #NorthWest well down on its recent strong results. Relatively small offerings can however produce volatile results at the regional level School holidays finish this week with a more-focused auction market set to resume in coming weekends with higher listings but how much higher will be the acid test for a reviving Sydney market.

09.01.2022 Spring in the Air for Revived Sydney Auction Market The Sydney auction market produced more robust results for sellers generally on Saturday with clearance rates again well over 70% despite a surge in listings. Sydney’s weekend rate of 75.9% was down on the previous weekends two-year high 78.9% result but again well ahead of the 55.6% recorded over the same weekend last year. ... Sydney has now reported 5 consecutive weekends above 70% in a remarkably consistent mid-winter performance for a clearly revived market. The strong weekend result was recorded despite a surge in listings that increased by 27.3% to 340 compared to the previous weekend’s 267 but still behind the 417 listed over the same weekend last year. Sydney’s weekend median auction price of $1,110,000 was lower than last weekends $1,187,000 and the same weekend last year’s $1,124,000. The South and the City and East were top weekend regional performers with most areas recording rates well above 70%. Saturday’s auctions were the first increase in weekend listings for two months and signal the beginning of the rise in activity towards the spring selling season. With strong clearance rates from rising listings a clear spring prospect, higher home prices are sure to follow. #houseprices #auction #auctionresults

07.01.2022 How does your #income compare to others? The Australian Bureau of Statistics shed some light on how much Australians are really earning and how your income compares to others. #Households that earned $4,275 a week (before tax) were in the 90th percentile, which means they are in the top 10% of income earners in the country. In #NSW you need to earn $4,493 to be in the top 10% of earners and in #Victoria you need $4,097.... The statistics also reveal the differences between #wages in Australia’s capital cities. #Darwin has the highest mean household income, with those in the greater city area earning about $3,075 a week before tax. #Sydney comes in second on $2,867 a week while Australia’s mean is $2511. A Sydney household has to be earning more than $2,495 a week (before tax) to be in the top 40% of wage earners in the greater city area. Australia’s #richest households have been getting richer over the past decade while middle and low-income earners have barely seen an increase their earnings. The #wealthiest 20% now control 60% of all household wealth. The #poorest 20% controlled less than 1% of all household wealth, with average wealth currently at $35,200 - less than $1,000 higher than where it was 15yrs ago.

01.01.2022 What support packages are the #bank offering customers? There’s been a lot of news lately about how different services are responding to the #COVID19 crisis. It’s likely that you have missed some information that affects you amongst all of the headlines. Here’s is a table from RateCity.com.au showing what the big four banks’ different support packages look like. Other measures include:... Westpac: Offering over 65's an 8-month term deposit of 2.00%. Commonwealth Bank: Customers paying extra on their home loan will have their repayments reduced to the minimum to free up #cash. Commonwealth Bank: Offering easier eligibility criteria for personal overdrafts. National Australia Bank: Lowest fixed rate is for first home buyers only. Westpac’s lowest rate is for people with a deposit of 30% or more. Not with one of the big four banks? Here’s what you can do: Call your broker. You won’t be alone in needing extra support at the moment. Let them know your situation and be aware they may ask for proof of financial hardship. Worried about your home loan? Most lenders are supporting customers in hardship by waiving fees, allowing deferred #loan payments (up to six months) and even extending loan terms to lower repayments. The National #debt hotline can also help 1800 007 007