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How prepared are you for your property purchase?

Eighteen per cent of Australian bidders have failed to get pre-approved finance prior to attending an auction, a new study has revealed.

According to a recent YouGov Galaxy poll, nearly one in five adults in Australia failed to secure finance before buying at auction.

Given it takes time to seek and be granted pre-approval it is important to seek professional advice as early as possible.

Buyers need to determine how much they can borrow and gain certainty that they are being realistic with their expectations.

Pre-approval is an indication from a lender that they feel comfortable lending a set amount of money to a potential buyer. It puts the buyer ahead of the game and strengthens their position when negotiating a purchase.

Carl Thompson – Commercial Lending Specialist, Strategic Investor Group

Is your loan structured correctly?

The Reserve Bank has left the official cash interest rate on hold at 1.5 per cent for the 20th month in a row.

It is “universally anticipated” that the RBA won’t move on rates in the immediate future.

Most economists only expect one rate rise this year and 10 out of 24 analysts expect rates to remain on hold into 2019, and potentially beyond.

It is important to remain fully informed, and understand your options, by reviewing your individual circumstances today.

Carl Thompson – Commercial Lending Specialist, Strategic Investor Group

Location, Location, Location

Sydney has the nation’s most evenly distributed new apartment market – putting it at less risk of inner-city oversupply – according to the 2018 UDIA State of the Land Report.

Just over a fifth of new Sydney unit completions (apartments, townhouses and terraces) were within five kilometres of the city centre in 2017 compared with almost half of all Melbourne unit completions – the country’s fastest-growing apartment market – the report found.

A third of new Sydney units were within 5 to 10 kilometres of the CBD, 28 per cent of completions were 10 to 20 kilometres out and 18 per cent of completions were as far as 50 kilometres from the centre of town.

Obtaining industry best advice is essential prior to making any potential property investment decision.

Carl Thompson – Commercial Lending Specialist, Strategic Investor Group

Australian Economic Indicators

In an ever-evolving financial market place, it is important to keep informed and up to date.

Australian economic indicators remain sound with growth picking up more recently.

Momentum in the labour market has improved. Strong employment growth has been recorded over recent months, although wage growth remains low by historical standards.

Economic conditions continue to vary across the states, with the New South Wales economy performing strongly, and there are signs that economic conditions are starting to improve.

Conditions in the established housing market remain strongest in Sydney, which is consistent with better economic growth expected in coming months.

Are your financial circumstances positioned to take advantage of current sound economic conditions?

– Carl Thompson – Commercial Lending Specialist, Strategic Investor Group

Hate Auctions?

ARE YOU WORRIED ABOUT:

–    Letting your emotions get the better of you?
–    Not having a strategy on how to bid?
–    Overpaying?
–    Negotiating if the property is passed in?

We are experienced buyers agents and have saved our clients thousands of dollars and many sleepless nights.

$550* is a small price to pay for peace of mind & an unfair advantage at any auction.

CLICK HERE or on image below to download our Auction Bidding Flyer