Brighter And some

Market Update: Interest rates to dip further? LMI for just $1 and the Brissie property market gets a gold star!

by Justin Watt, CEO 16 July 2020

A new record low interest rate has been set with one bank now offering rates of just 2.06% and speculation says we may see “teaser rates” dip even lower!

This is all despite the RBA holding firm on the cash rate target in their July meeting where they made the call to maintain it at 0.25%

With so many first home buyers in the market LMI has been a hot topic this month. St George Bank has made a competitive move by offering up lenders mortgage insurance for just $1! This is for qualified first home buyers borrowing with 15% deposit.

Brisbane is pulling ahead of the eastern capital cities as economic growth and affordability factors slow down the Sydney and Melbourne property markets. BIS Oxford Economics are predicting a jump in prices as much as 20% over the next 3 years as people choose the sunshine state over our southern friends. We have seen a rise in enquiry from buyers agents acting on behalf of investors and buyers from New South Wales and Victoria

Brissie’s population is growing quickly too, Researcher Michael Matusik says this means we will need 8,825 new homes, which will be another boost for the property market.

Ready to make a move? View our current listings for sale or talk to us about your plans.