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Blog

Why 2020 could be your year to buy property

24/6/2020

 
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If you’ve been thinking about purchasing your first property, 2020 might be the time to pounce. Following a long-awaited correction, many property markets across Australia appear to have plateaued and are now once again increasing in value.
According to Corelogic, in January house price values in Sydney alone rose by 1.5 per cent, 6.7 per cent over the past quarter. While the average increase across the nation’s capital cities in just the first month of the year was 1.1 per cent.

Depending on who you speak to, this renewed growth may be attributed to a variety of factors.

This month, we saw the Reserve Bank once again leave rates on hold at a record low 0.25 per cent. 

Meanwhile, competition to lend money continues to heat up, helping to ensure lender interest rates remain low. Anecdotal evidence also points to an increased willingness from lenders to offer home loans to potential borrowers.

In addition, the Government’s First Home Loan Deposit Scheme is helping more people to gain a foot hold on the property ladder. The scheme works by providing a guarantee that will allow eligible first home buyers on low and middle incomes to purchase a home with a deposit of as little as five per cent (lender's criteria apply).

Long story short, the market is on the up and fear of missing out (FOMO) is a real thing. But it doesn’t need to be. Sometimes taking the first step towards a goal is enough to allay concerns and set a person on the right path.

Contacting Kerry from KLM finance early in your search is often a wise idea as it allows Kerry time to understand your circumstances and potentially help prepare you for a successful loan application when the time is right.

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Email: [email protected] 
Phone: 0417 867 627 
KLM finance ABN 57617732395, Kerry McKenzie is a Credit Representative (Credit Representative Number 399212) of Custom Equity Group Pty Ltd (Australian Credit Licence Number 383666).
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  • Home
  • About
  • Services
    • First Home Buyers
    • Refinancing
    • Investment Home Loans
    • Construction Loans
  • Calculators
    • Loan Repayment Calculator
    • Extra repayment calculator
    • Borrowing Power Calculator
    • Home Loan Offset Calculator
    • Stamp Duty Calculator
  • Testimonials
  • Free Resources
    • Blog
    • E-Book: First Home Buyers Guide
  • Contact