Property news round-up: 7 things to know this week
Happy Monday everyone! There's lots of fresh news from over the weekend today.
Firstly, clearance rates this weekend from Domain, and it seems that the mid-range part of the market is suffering the most, whilst homes that have 'the full package' (good streets, proximity to transport and schools and newly renovated) are consistently performing.
This is good news for buyers looking in the mid-range, and we maintain that waiting is not always a good tactic - prices could plateau a while and not fall further. If you are currently looking to buy, SMH has released some data on the best suburbs for affordability.
Are you prepared for EOFY? Here is a little guide to help you with property tax bills before July rolls in.
Finally, over to the banks. A few weeks ago we mentioned that expats looking to return were a group that would help keep the market moving, but it seems that banks are starting to limit lending to this group:
However, in an effort to help buyers, it seems some re-packaging of interest-only loans has occurred: Big four banks cut interest-only loans to win property buyers
Also, this isn't news, but a helpful guide into why property investing becomes more beneficial as you continue to buy more.
Have a great week everyone!