Welcome to the property news roundup for this week! Here is a summary of what has been going on over the past 7 days.
A new report has been released by realestate.com.au, and it’s good news mainly for those in the affluent or inner suburbs, and the outer suburbs.
The page also contains a handy interactive map.
Sydney set for more property falls, but some NSW towns and suburbs are fighting back
There is one town that has constantly been coming up a winner throughout this downturn, and that’s Geelong (and even other regional areas in Victoria). You can read more here. This is likely to occur in NSW too, with some hearsay suggesting the Central Coast will see excellent growth this year. We’ll keep you posted once we find some data.
Next, an article sums up so well our thoughts on this downturn: Don’t panic! It’s the housing correction we needed to have. From the article:
“Most commentators regard the Australian economy as in good shape. The regulatory tweaks have taken the intensity out of the housing market, but not much else has changed. Australians can still get loans to buy property, overseas investors still have access, the amount of liquid capital sloshing around the globe looking for safe havens is still appalling.”
Meanwhile, a couple of banks have increased their mortgage rates, whilst a couple have decreased them. Read more about these rate changes here.
Although it is paywalled, there is a practical article from the AFR this week on how to cut annual payments on your mortgage.
This week’s clearance rate was 40%, and you can explore more via realestate.com.au here.
