Smart Buying: How to Navigate Australia’s Spring/Summer Property Market

Despite the jitters about large gatherings, MMJ Real estate offices remain "Open for Business" and would like to remind our clients of many personal services we already offer that adhere to the social distancing required to slow the spread of the virus.

With first-home hopefuls set to face rising prices already in the housing market this year, the First Home Loan Deposit Scheme will offer help to a select number of buyers who may not have the backing of wealthy parents.  The scheme will allow 10,000 first-home buyers to purchase their first home each financial year with as little as a 5 per cent deposit, without incurring lenders mortgage insurance.

 If you were to purchase a home today, you’d most likely need to have 20% of the property’s value saved as a deposit to secure a home loan. From January 1, 2020, things may get a little easier if you’re one of 10,000 borrowers eligible for the First Home Loan Deposit Scheme.

National Housing Values Mark Five Months Of Consistent Growth, Taking The National Index Back Into Positive Annual Growth Territory For The First Time Since April 2018.

CoreLogic’s national Home Value Index surged 1.7% higher over the month and delivered the fifth consecutive monthly increase, coupled with the largest monthly gain in the national index since 2003. 

Keen buyers are being urged to keep their eyes peeled for property bargains over summer, as experts report an emerging trend for vendors to list earlier in the year.