March wrap-up

There has been a significant change in the Australian property market, as more suburbs now offer cheaper rental options than buying a house or apartment.

This shift is due to the increasing costs of mortgages, which have risen faster than rent prices. This has worsened the housing shortage, with insufficient new homes built to meet demand.

Rent prices have been going up faster than inflation, making it challenging for people to find affordable homes, let alone save up for a down payment on a property.

The solution to this problem is prioritising building more new homes, especially in high-demand areas like big cities. Encouraging property investors to invest in the market again can also help by offering incentives and making it easier and cheaper for them to buy and maintain rental properties.

Not sure which direction to take? Book a free consultation today to learn more about renting and buying pros and cons!

*DID YOU KNOW*

A Mortgage Broker helps you get a home loan and acts as a middleman between you and the lender.

They are legally obligated to suggest a loan that is best for you and will explain the loan terms so you can understand them better.

Mortgage Brokers will also tell you about the different types of loans available to you based on your situation and the conditions of each loan.

BEFORE YOU GO…

If you're a first-time investor, you may not know what questions to ask. To help you, we've compiled a list of questions for you to use. If you have any other questions, feel free to contact us.

• Do you know what you can afford? Both lending and purchase price?

• Do you have any equity within your existing home you use leverage?

• Is the existing bank the best bank, or what else is out there?

• Which structure is right for me?

• How long does my Pre-Approval last?

• How much deposit do I need? (cash deposit &/or Equity)

• How much cash &/or equity at settlement will I need? (funds to complete)

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