hhmmm.. .25% interest rate cut last week.
more rate cuts to come… soon…
stamp duty & mortgage duty concessions have kicked in now for properties under $500k…
a R/E friend of mine has told me he's noticed an upswing in buyer interest in properties under $500k already.
could this possible momentum (if that's what it is) dominoe up the property ladder??your thoughts…
mackar,
There is buyer interest but not purchasing – it was on the news the other night. Most buyers a waiting for at least a whole percentage drop in interest rates (from the banks, not the RBA). Bears are attending auctions and home opens (people like me) – to see how low things are getting, not looking to buy just yet.
As for the stamp duty concessions it depends on the state but yeah, most have zero stamp duty for FHB at the cheaper end of the market.
Personally, I still feel we are going to see more interest rate hikes form the big banks in Oz over the next 2 years – even if the reserve keeps lowerring. Reasons being – ANZ and National are struggling and it will be the best way for them to try and stay afloat. On the flipside, Westpak and Commonwealth will use interest rates to achieve purchasing power in attempts to buy the other 2. Commonwealth has already declared it can't guarantee low IRs in the foreseeable future.
BOOM OR NOT? ARE YOU INVESTING IN THE HOPE OF CAPITAL GROWTH? I HOPE THAT IS NOT YOUR ONLY STRATEGY…… SUPPLY DEMAND…… DO NOT LISTEN TO BANKS OR AGENTS….
BUY AT THE RIGHT PRICE…..
YOU SHOULD KNOW BETTER….IF MY PROPERTY BOOMS AND TRIPLES IN VALUE WHAT HAPPENS? DEMAND IS HIGH BECAUSE OF THE BOOM, PROPERTY'S HAVE ALL TRIPLED, TAXES ARE HIGHER… IS A BOOM THE BEST WAY TO PROFIT FROM PROPERTY? IF THE MARKET STAYS THE SAME AND YOU BUY AND SELL MAKING A REASONABLE MARGIN CAN YOU MAKE MORE MONEY???
HAPPY HUNTING FELLOW INVESTORS……
A PERSON WHO IS NEVER WRONG MAKES NO DECISIONS……
you talk a lot but dont really say ANYTHING (despite the shouting)
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