Ray White Belconnen

The biggest factor in the local property market at present is the availability of credit. In the wake of the Hayne Royal Commission, lenders tightened their serviceability criteria, and as a result prospective buyers were unable to access the same borrowings they would have previously. However the move by APRA to reduce the ‘plug rate’ (the rate at which banks have to calculate serviceability) from the high water mark of 7.25% has already made a significant impact on the level of competition at open homes. Have you considered buying, or do you currently own, an investment property?With interest rates at historic lows, having a good mortgage broker on your side has never been more important. Our Loanmarket partner, Nitish Kumar, has extensive experience with property owners and investors, and offers a free service to review your current lending or pre- approval to ensure it’s best suited for your situation. Please get in touch if this would be of value. Now that the Federal Election is behind us we expect to see the market continue to normalise, and are forecasting a busy spring. We encourage buyers to step up and bid with confidence if their preferred home hits the market, to avoid the disappointment of missing out later when momentum starts to put upward pressure on prices, as we expect. As always please get in touch if you’ve got any specific needs that we can assist with. Our teamwould be only too happy to help. What’s happening in our market? Jake Battenally Licensed Real Estate Agent 0413 313 676 DominicaMcNamara Sales Consultant 0438 514 473 Samuel Fitzsimmons Sales Associate 0400 305 041