COFFEE’S ON US!!!
Lambros Realty is all about supporting our beloved local community, especially through the testing times we have all endured over the past few months.
To celebrate the first step on the easing of restrictions, THE FIRST 250 REGULAR COFFEES ARE ON US!!!
Please head on over to “THE BURROW” between 7am – 2:30pm on Monday 11th October 2021 to claim your FREE REGULAR COFFEE!
The Burrow’s Address 132 Shepherds Dr, Cherrybrook
First-time buyers across a range of age and income spectrums
– including key workers like teachers and nurses – accessed the
first home loan deposit scheme during the first six months of 2020.
One in eight first-home buyers availed of the scheme with NSW
taking the largest share of the guarantees, according to a National
Housing Finance and Investment Corporation report.
Out of the 10,000 scheme allocations, 2263 went to NSW residents,
1845 to Queenslanders and 1617 to Victorians. Demand was lower
in WA and South Australia due to long-standing FHB support, the
NHFIC chief executive Nathan Dal Bon says demand for the scheme in the six months to June 30 continued despite
the onset of the pandemic. Major cities attracted nearly 62% of buyers, while 38% opted for regional areas.
The majority who bought in capital cities purchased in areas up to 30km away from the CBD, with fewer than
a quarter buying within 15km.
Decentralisation will become more prevalent for
future home buyers, according to industry experts.
The traditional town planning model – where CBDs
are filled with office towers, retail and high-density
apartments surrounded by urban sprawl – is losing
its appeal, says Propertyology head of research
He says Australians are in the midst of re-evaluating
their priorities. More manageable mortgages, lowdensity
locations (that are less susceptible to future
lockdowns), regional lifestyle destinations and
working from home will become important to buyers.
Pressley predicts a new era of regionalisation is
likely to produce about twenty low-density towns
and cities that will benefit from significant internal
Social demographer Mark McCrindle says locations
with a low risk of future lockdowns with an industry
mix conducive to this new world will be the ones to
watch. This includes a good quality detached house
in a location that offers plentiful open space and a
The results of a new survey have revealed what property investors are most concerned about in the current market but also found that they feel more positive than other property owners.
According to the latest edition of ME’s Quarterly Property Sentiment Report, perceptions of the market is mixed. A slim majority feel neutral towards the market (37 per cent), while more than a third feel positive (35 per cent) and 28 per cent feel negative.
However, investors feel more positive than owner-occupiers or first home buyers, at 44 per cent of respondents.
According to ME’s general manager of home loans, Andrew Bartolo, the positivity in investors and younger age brackets shows the sentiment that price declines provide a good opportunity to purchase property.
Property investors are also optimistic about property prices. More investors expect the value of their property to rise over the next 12 months more than those who think they will hold steady or decline; 32 per cent are expecting a rise, as opposed to 30 per cent expecting declines and 30 per cent not expecting any movement.
Overall, property owners in metropolitan Tasmania are expecting value rises the most at 50 per cent, followed by those in metropolitan NT (40 per cent), and then metropolitan South Australia and Queensland, both at 36 per cent.
“Enduring positivity about price expectations is possibly linked to Australians’ long-held belief that property prices will always go up,” Mr Bartolo said.
Given that a large proportion expect prices to rise in the next 12 months, 58 per cent of respondents plan to sell their property, while 34 per cent plan to buy property.
For investors, 44 per cent plan to buy property and 23 per cent plan to sell. Two-fifths (39 per cent) said they do not plan to buy or sell.
The largest property fears
First home buyers are most concerned with housing affordability (94 per cent), followed by owner-occupiers (87 per cent). Investors are least concerned, at 83 per cent.
Affordability was a greater concern for investors than many other issues, such as: switching from interest-only loans to principal and interest loans (at 74 per cent), the value of their property declining (64 per cent), declining property prices resulting in owing more on a property (53 per cent), and tighter credit policies making refinancing more difficult (53 per cent).
“People often forget house prices doubled in recent years, so falls of 10-15 per cent won’t do much to improve affordability over the long term,” Mr Bartolo said.
“Concerns about credit may change given the recent APRA announcement on serviceability.”
Meanwhile, 59 per cent of investors were happy that property prices were declining, which could make property purchases a more appealing option.
“Cooling property prices present new opportunities for those trying to get into the market,” Mr Bartolo said.
“If you’re planning to buy, it’s important to think long-term and always buy affordable.”
“Consider whether you can comfortably repay your mortgage over the long term regardless of changes to interest rates, your lifestyle, and without having to rely on less dependable sources of income like rent and bonuses.”