Welcome to our January newsletter
Approved All Loans Group
Investment Loans, Loan Calculators, First Home Buyers
Happy New Year! We hope you enjoyed your holiday break and took the opportunity to spend some quality time with your family and friends.
While you may be finding it a bit hard to return to work after the holidays with summer in full swing, you can expect 2015 to be a fantastic year for property in Australia with some great opportunities for those of you looking to invest or purchase a home.
Looking back to the end of 2014, the number of auctions and their respective auction clearance rates slowed right down during the Christmas and New Year holiday period, with few auctions recorded nationally from mid December.
As a result, we didn’t see much movement in home values during the month, with small rises showing in all capital cities except for Darwin and Canberra, which showed very marginal decreases of 0.6 per cent or less.
In December, Sydney home values showed a rise of 0.01 per cent, Melbourne was up by 1.57 per cent, Adelaide increased by 1.81 per cent, Perth was up by 1.92 per cent, Brisbane (including the Gold Coast) was up by 0.77 per cent, and Hobart showed the biggest increase for the month, with home values up by 2.65 per cent.
The December property market activity topped off a great year in most capital cities. Auction activity was very strong throughout the year, being driven by historically low interest rates and an increase in consumer confidence. The national annual increase in home values was 7.9 per cent, with the recovery in Sydney’s market leading the way with an annual appreciation in home values of a whopping 12.4 per cent.
The next best performing market was Melbourne, which saw an increase in home values of 7.57 per cent for the year. Brisbane (including the Gold Coast) saw an annual increase of 4.86 per cent, Adelaide 4.31 per cent, Perth 2.08 per cent, Darwin 1.63 per cent and Hobart 3.5 per cent.
Analysts are predicting that our strong property market will continue during 2015 with some saying that average home value growth should be roughly double our inflation rate. This is fantastic news for property owners and those looking to get ahead by investing in property this year.
Interest rates look set to remain around our current historical low throughout 2015. Some financial analysts are speculating that the RBA may consider lowering the cash rate even further if the Australian dollar does not perform to expectations early this year. We’ll have to wait and see what happens when the RBA meets again in the first week of February!
If you’re considering a property purchase in 2015, the seasonal lull in market activity is a great time to talk to us about your plans and to formulate your strategy for the year. The mortgage market is offering some very competitive deals with a huge variety of lenders eager to secure your business, so give us a call to see how we could help you get ahead in 2015.
Sincerely, Shaun Howie at Approved All Loans
First Home Buyers
, Investment Loans
, Investment Strategy
, Loan Calculators