FHBA Market Update – Property market as hot as the weather
We are now into the last month of summer 2016-17 and it’s hot. And not just the weather. Most property markets are hot as well, with Sydney leading the way, followed by Melbourne. Even Perth, according to CoreLogic RP Data referred to in this week’s Market Update has also seen a small recovery over the last 3 months with property prices rising faster than Adelaide and Brisbane.
The use of the First Home Owners Grant has also been in the headlines again.
Plus tomorrow the RBA meets for the first time this year to review the official cash rate. As always, FHBA News has got you covered. Enjoy being informed by this week’s FHBA Market Update.
News affecting first home buyers
Here are the top stories affecting first home buyers this week:
- First Home Owner Grant – FHBA co-founder Daniel Cohen spoke to Domain on the weekend about the First Home Owners Grant in Queensland, how it’s currently at a good setting and why other States such as NSW should copy Queensland’s policy read more in Domain
- Suburb Focus: Newcastle – Every week, actually make that every day, Sydney’s booming property market is in the news headlines. But what about other major cities in NSW such as Newcastle & Wollongong? Last week we took a closer look at the suburb of Newcastle and why some first home buyers may want to call this part of Australia ‘home’ read more
Capital City Price Movements
The CoreLogic RP Data Daily Home Value Index (as at 06/February/2017):
- Adelaide – 474.61 (Qtr + 0.26% / Yr + 4.74%)
- Brisbane – 557.72 (Qtr + 0.75% / Yr + 4.73%)
- Melbourne – 868.36 (Qtr + 2.76% / Yr + 11.45%)
- Perth – 581.18 (Qtr + 1.80% / Yr – 2.61%)
- Sydney – 1071.44 (Qtr + 2.67% / Yr + 16.38%)
Weekend Auction Clearance Rates
Interest Rates Update
Tomorrow the Reserve Bank of Australia (RBA) board will meet for the first time since the start of December to review the official cash rate. The cash rate significantly influences the cost of funding for banks, thereby influencing the interest rates they offer saving and home loan customers.
New Homes of the Week
The latest edition of FHBA New Homes of the Week (edition 40) focused on First Home Owner Grant eligible homes that are suitable for single first home buyers. We know it’s tough for any first home buyer, let alone a single first home buyer. So we thought we would dedicate this edition to single first home buyers.
Some of the winner homes are larger than 1 bedroom, but you could always rent out the spare rooms to help with loan repayments!
Tweet of the Week
We (@fhba_com_au ) think the #Queensland first home buyer policies should be copied by #NSW. See my interview in @Domain. @GladysB #FHBA https://t.co/UxViCkpoM0
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First Home Buyers Australia