Have we reached the top of the housing price ladder?
Price changes will vary from city to city
A recent survey of property analysts show that most are predicting continued increases in house prices through 2017. However, the story is not the same for all property types and locations. House owners in Sydney, Melbourne and Brisbane can expect continued rises, however apartment prices are expected to level off.
After four strong years of price growth across Sydney and Melbourne, it seems we haven't reached the top of the ladder yet. House price rises in the two largest Australian cities are estimated to increase anywhere from 4% to 18% depending on which analyst you talk to, with the majority in agreement that house prices will continue to rise. However, the degree of change varies from city to city and state to state.
Even though the market is still buoyant, there are many opportunities to be found for home buyers and investors with long term fundamentals of well selected property remaining strong.
Home loan rates continue to remain relatively stable with the RBA continuing to keep the cash rate at its current record low level. However, this does not mean that banks will follow suit with rates increasing across a range of home loan products in recent times.
Home loan rates are still at record low levels and housing prices are generally still strong. Is now the time for you to refinance or even consider upgrading or securing an investment property? How does your existing loan measure up against current market offerings? Perhaps now is the time to review your home loan and gain a better understanding of your equity and capacity. You may even want to consider fixing your interest rate at the current record low levels.
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