Brisbane

Before we tackle this month’s theme, let’s see what there is to report on market changes under COVID.

Here in Queensland – as at the time of writing at least – we remain relatively in control of the outbreak, although the coming days will be testing. The result is that a tiny bit more confidence has etched its way back into our market.

Anecdotal evidence suggested a considerable slowdown in activity throughout April and into early May with a red...

Spring is just around the corner which traditionally means the property market will start to warm up. If you are considering making that next property purchase, it is recommended to get a home loan pre-approval first. It not only saves you time on your property search but also protects you from overspending at an auction.

How long does pre-approval take?

Turn-around times for pre-approvals vary for each lender from the time of application submission. Ve...

There’s plenty to dig into for this month’s topic but first, a quick update on how our market is tracking.

With restrictions easing on 15 May, Queensland saw relaxations for the real estate industry.

In-house auctions can now be conducted with ten members of the public present and a maximum of three agency representatives running the auction. Open home inspections can be carried out with a maximum of ten people allowed access. Names, addresses and mobil...

Another 10,000 first-home buyers will get the chance to step on to the property ladder sooner when the Federal Government opens the second round of its First Home Loan Deposit Scheme on Wednesday.

Under the scheme first-time buyers are able to purchase a home in Queensland, up to a maximum value $475,000, with as little as a 5 per cent deposit through one of 25 approved lenders.

The government then guarantees the loan with the lender for the difference...

Getting your budget under control and your finances in order is absolutely essential to anyone looking to apply for a home loan, but it’s particularly important for first home buyers about to take the first step on the property ladder. Now the end of financial year has arrived and you’re getting all your paperwork together for your tax return, why not take stock of your financial situation and plan your budget for the year ahead at the same time? Here...

Brisbane

First up – let’s address the current state of play under COVID.

The initial stages of the crisis caused many sellers to shut up shop and batten down the hatches. Meanwhile, some buyers believed they were about to snatch up outrageously good deals.

The market then settled quickly into a standoff where potential purchasers came up against a lack of stock. As such, transaction numbers dropped dramatically, but prices didn’t.

Now, three and half mont...

HomeBuilder provides eligible owner-occupiers (including first home buyers) with a grant of $25,000 to build a new home or substantially renovate an existing home. HomeBuilder will assist the residential construction market by encouraging the commencement of new home builds and renovations this year.

HOMEBUILDER
Summary

HomeBuilder is a time-limited grant program to help the residential construction market to bounce back from the Coronavirus crisis.
Ho...

At its June Board meeting, the RBA has decided to maintain its current policy settings – this includes holding the official cash rate at 0.25%.

In a statement accompanying the decision, RBA Governor Philip Lowe said –


Over the past month, infection rates have declined in many countries and there has been some easing of restrictions on activity. If this continues, a recovery in the global economy will get underway, supported by both the large fiscal...