- 15 May 2024
Insights from your mortgage broker, Helen Avis of Specialist Mortgage
Entering the new year, we are flooded with predictions and forecasts from the media as to what property prices, interest rates and what the direction the industry in general may or may not be heading. Each economist, commentator and journalist has either opposing or complimentary sentiments and its difficult to know where anything is heading!
Here are my thoughts for the year taking into account the varying shades of insight. The Australian property market is definitely poised for dynamic shifts and challenges and as a mortgage broker I’m at the frontline facilitating property transactions and may be able to offer some more tangible insights likely to share the real estate landscape.
Australian home loans – Interest rates and housing affordability
I do agree, there will be a continued impact of interest rates on housing affordability. As rates fluctuate, they play a pivotal role in influencing borrowing capacities and, consequently, property prices. Exploring competitive loan options and understanding interest rate movements becomes crucial for both first-time buyers and seasoned investors.
Buying Property in Australia
The trend of regional property resurgence is anticipated to persist. We’ve seen an increasing number of individuals seeking the tranquillity and lifestyle benefits offered by regional areas. This shift not only diversifies investment opportunities but also challenges the conventional notions of property hotspots.
The digital age and its effect on Australian Property and mortgages
In an era dominated by technological advancements, I am predicting an accelerated integration of digital tools in property transactions. From virtual property tours to streamlined online mortgage applications, technology is set to enhance efficiency and convenience in the buying and selling processes.
Changes in government policies and regulations often have a direct impact on the property market. Industry leaders have emphasised the importance of staying informed about policy shifts related to grants, incentives and lending criteria but it is hard to stay on top of and it is always changing, so if you are starting to look at purchasing options get in touch so I can update you on the changes that have been made and what’s potentially coming. These changes can significantly influence market dynamics and individual purchasing power.
Going green – Environmental sustainability when it comes to getting a home loan
A growing consciousness about environmental sustainability is influencing property preferences too. I’m seeing a higher demand for eco-friendly homes and properties with sustainable features. This trend reflects not only a shift in lifestyle choices but also an awareness of long-term environmental impacts.
Given the unpredictability of global and economic factors, we do seem to stress the importance of adaptability! Navigating uncertainties requires a proactive approach, strategic financial planning, and a willingness to explore diverse property investment avenues. I’ve got a great team behind me and we are here to help so that you don’t have to do it alone. We’ve got access to a great number of resources to assist you too.
As we navigate the intricate landscape of the 2024 property market, hopefully these insights serve as a compass, guiding both buyers and sellers. The ability to embrace change, stay informed, and leverage professional expertise positions individuals for success in the Aussie real estate environment and I am only a message, call or email away!
Helen Avis, Director of Finance, Specialist Mortgage
