Peter Oates Senior Lending Adviser from Lendtribe, specialising in Home, Investment and Construction Loans
Here is a quick wrap up of the Auctions from the weekend, our Mortgage Rates on offer and tip of the week.
We have quite strong clearance rates from parts of Australia with the ACT being 77%, SA was 78%, Victoria at 79% and NSW was a standout again at 83%. So, very positive across most of Australia with plenty of energy to buy in the market. Please remember though that these clearance rates are also supported by there being far less stock in the market than last year with Victoria listing 30% less Auctions when compared to last year. Please take a look this graph illustrating the clearance rate changes over the past decade and you can see the recent improvement.
Auction clearance rates have soared in recent months (CoreLogic)
We also have the news of dwelling values improving in Sydney, Melbourne and Brisbane from the August reporting here. So, pretty positive stuff.
National dwelling prices have lifted for the first time since 2017 (CoreLogic)
On the Mortgage front, here are some of our rates to consider right now with great variable and fixed rates on offer. Many clients have been taking advantage of the 3.11% Owner Occupied Principle and Interest Rate and the 3.55% Investment Interest Only Rate.
Tip of The Week
If you thinking of growing your family and planning for maternity leave, or you may already be on maternity leave, many clients believe they cannot borrow in these circumstances. This is not entirely true as some lenders have got various policies for applicants on maternity leave, even if you are not receiving any income whilst you are on mat leave.
A key factor is whether or not you are returning to work within 12 months and already have a return date, role and salary organised with your employer. If this sounds like you, then there are several options with our lenders.
If you would like to discuss this tip or anything to do with your plans to borrow more funds or find a better deal on you current lending, please feel free to email myself directly on email@example.com or contact us at Lendtribe.com.au.
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Thanks for reading, listening or watching!