The autumn property season is in full swing, get pre-approval on your loan now so you can move fast and secure the property you want. With clearance rates down, you may even get a bargain!

Despite a rising Aussie dollar, the Reserve Bank of Australia (RBA) decided to keep the official cash rate on hold at 2.0% during its April meeting last week and it looks as though rates will remain on hold for the foreseeable future.

Most markets around the country have been seeing steady auction activity over the past month, however both auction numbers and clearance rates are down compared to this time last year, with Melbourne and Sydney scheduling half the number of auctions compared to the end of March 2015.

Home values only showed slight movements last month, however for the first quarter of this year Hobart proved to be the best performing capital city with home value growth of 6.5%. Most other cities showed home value growth of around 2% for the quarter. Brisbane and Perth were the only cities showing a decline, with Brisbane home values falling 0.1% and Perth 0.9%. Perth’s property market is particularly slow, providing some great opportunities for home buyers and investors.

Market conditions seem to be swinging back in favour of property buyers in 2016, so now is a good time to talk to us about your property purchasing plans. We’ll help you to get pre-approval on your loan so you’re in a great position to buy, whether you’re a first home buyer, next home buyer or property investor. There are also some excellent deals around if you’re looking to refinance, so please give us a call.

We recommend that you seek independent financial and taxation advice before acting on any information in this newsletter. It contains general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances. Your full financial situation will need to be reviewed prior to acceptance of any offer or product. Interest rates are subject to change without notice. Lenders terms, conditions, fees & charges apply. . Information sources: Auction results:www.realestate.com.au. Home values: www.corelogic.com.au
Sincerely , Element Finance