Bruce's Blog

Easter update and message

Sat, Apr 23rd 2011, 07:05

Just a few thoughts for you all.

 

BANKS COMPETING ?

 

You have all seen the various headlines over the last few months and many are sceptical that banks are truly competing.

However, they have made some better offers recently but only to new customers. Existing customers are not getting the same deal as new customers to the bank.

Whether you are buying, renovating or just want to consolidate debts and get a better finance structure, now is a good opportunity to review your finances.

 

RATES – WHERE TO?

 

Again no move by the Reserve Bank of Australia last month and at this point with the Australian dollar at a high, there is unlikely to be any rate rise for some months. Some are suggesting no rise this year and the futures markets seem to support this. Banks made their big moves last November and have actually given some back since with their new business offers.

Anyone who took out a fixed rate loan 3 or more years ago, should ask their lender just what the exit cost would be. It may just be worth considering if the savings can be made. I am happy to review with you.

 

PROPERTY MARKET OUTLOOK

 

The March Quarter has certainly seen a better balance between buyers and sellers and going a bit more the buyer’s way. Volume of sales is down on the same period last year and prices have eased particularly at the top price end over $1m. The next price bracket down still appears to be busy and holding up for good quality property. Unsold stock is still fairly high and there will be some good buying opportunities over the next few months. Remember to negotiate hard but keep in mind that vendors may choose not to sell if prices are not to their expectations. If the non mining parts of the economy hold up, then supply which is tight will keep prices up. Any difficulty in these areas which leads to job cutbacks will have an adverse effect on buyer numbers.

 

Most importantly,

A great chance to wish you all a safe and happy Easter break.

Some of you are no doubt enjoying some school holidays with the family.

Take care on the way home if you are travelling.