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Steps to buying a house in Australia
First Home Buyers Incentive from NSW Government
Interest Rate On Hold
Interest Rate Update
Is selling your property at Christmas a good idea?

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Buying a property

Steps to buying a house in Australia

 
1. Are you ready?
The saying goes, “look before you leap”, and it couldn’t be more true than when considering purchasing a property. Before you leap into finding your dream home, take a breath and ask yourself the big question - “am I ready? If you’re still experiencing itchy feet and wanderlust then possibly you’re not quite ready for the commitment at this time in your life.
But if you think you’re all in, assess whether you have job security needed to make it work. High job security (12 months plus) will give lenders more confidence in you and will give you a better chance of getting your foot in the door.

First Home Buyers Incentive from NSW Government

The NSW government has announced a new package designed to even the playing field for first time buyers and bring housing costs under control.

The new measures, effective July 1, include stamp duty exemption for first time buyers purchasing new or existing properties under $650,000. Buyers of homes under $800,000 will also get stamp duty discounts.

Those purchasing homes with small deposits will no longer have to pay 9 per cent stamp duty charges on lenders’ mortgage insurance.

Other measures are aimed at further restricting investor purchases.

Interest Rate On Hold


Interest Rate News

The Reserve Bank has once again left interest rates on hold at the historic low of 2 per cent. However commentary in the meeting, suggested a rate cut could be on the cards in the near future.

Auction clearance rates in Sydney and Melbourne hit their lowest points this year and capital city property prices flat-lined over October. This drop off, coupled with some banks raising their interest rate, is casting shadow over consumer spending leading into Christmas.

It will certainly be an interesting couple of months to end 2015, and likely to be a very different playing field to what the year kicked off with,

Auctions Tips Can Save You

Here are five more tips to help you form a winning auction strategy:

1 - Boost your knowledge

“This will also give you a realistic insight into the prices properties are advertised for and the prices they actually sell for. Before you attend the auction, ensure that you have a plan including knowing when you intend to commence bidding and at what price point you should stop. 
 
2 - Be ready and confident 
 
“If you have any questions about the auction rules, ask the agent in attendance.
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