After sitting on the sidelines for the past few years, first home buyers have re-entered the market following a decline in property prices over the past 12 months, according to Grant Bailey, General Manager of Deposit Power. “With the property markets cooling in Melbourne and Sydney since early … [Read more...] about First home buyers re-enter the property market
So does that mean the market decline is over? Recent data released by Core Logic (Core Logic News 3rd June 2019) reveals that whilst properties listed for auction were down 27% week on week compared to the same time last year, clearance rates were up from 54.1% to 61.5% compared to the same week … [Read more...] about Auction Clearance Rates Are Up!
A bank guarantee is an undertaking issued by a bank to a beneficiary for a specific amount of money that has the effect of guaranteeing the liabilities or commitments of one party to another. A bank guarantee cannot be issued unless the bank has some type of asset security backing the face value of … [Read more...] about Why Banks are shying away from issuing Bank Guarantees
Deposit Power welcomes the Coalition’s proposed First Home Loan Deposit Scheme that will offer up to $500 million in equity through the National Housing Finance and Investment Corporation. General Manager of Deposit Power, Grant Bailey stated "given the significant increase in property prices that … [Read more...] about First Home Buyer Scheme
Sydney first home buyer Luke Handren found his first opportunity to break into the housing market when it cooled in 2017. But the 26-year-old - like most first timers - didn't have enough for a deposit to buy a $550,000 apartment in Pendle Hill in Sydney's west and while his family was willing to … [Read more...] about Deposit Power Bonds on the rise in cooling market
In light of the recent headwinds that the mortgage broking industry is currently facing, we wanted to let you know that Deposit Power stands shoulder to shoulder with Mortgage Brokers in their efforts to ensure this important national industry, which millions of Australian’s benefit from, remains … [Read more...] about We Support YOU!
The struggle to save is real with the time now being more than 5 years to save for the average deposit amount. With so many struggling to save a property deposit to buy a home, we spoke to several experienced Mortgage Brokers for some tips for prospective first home owners. Reduce your … [Read more...] about Tips for saving for your home deposit…
Despite the doom and gloom in the media of further property declines, we do not anticipate prices will experience the sorts of falls that some commentators are predicting. There are several reasons for this. Historically, all market corrections, property included, happen after a strong and … [Read more...] about Where are property values heading?