From Gloom to Bloom! Nicci Daniele explains…
” Curious and Curiouser” cried Alice.
As we all shake our heads and squint our eyes to the real estate horizon, asking the BIG question.
Are we on the road to recovery?
It is beginning to look like the “knights” of Aussie housing have arrived to rescue us from the “dark queen” by the way of Scomo, Wayne Byre & Philip Lowe.
These three kings are offering the following gifts in order to resuscitate the housing market:
Wayne Byre (Chairman of the Australian Prudential Regulatory Body APRA)is going to scrap the 7% serviceability buffer on home loans, this will encourage banks to approve more home loans.
Governor Philip Lowe (Reserve bank of Australia RBA) has forecast that we can expect a cut in interest rates and this will stimulate the economy and affordability.
Scott Morrison our prime minister has promised to help first home buyers by reducing the deposit to 5% of the price of the house and removing the need to pay lenders mortgage insurance.
In conclusion to the real estate rescue mission, it is clear to see that the knights in shining armour are hoping to bring in lower interest rates, and encourage the banks to give more for less.
If you have been sitting on the fence and watching the battle from a distance it might be time to jump in and buy now before the prices increase with the positivity that’s predicted.
Nicci Daniele m: 0427 802 277 – [email protected]
Prime Realty Albany