finance Archives - realestatesource

What to Expect When Buying a Home

November 25, 2009June 29, 2017 Marc Pallisco buying, contract, finance, inspection, making an offer, Mortgage, property research, settlement

BUYING a property is a complicated process. There’s more to it than scouring websites and newspapers for sale prices, or knowing what your neighbour’s house sold for last week. A large part of it is getting your finances right – and knowing what the legal processes are.

Below are some tips on what to expect when buying:

National

Australians Borrow Less for Second Successive Month: ABS

January 17, 2010 Marc Pallisco ABS, banks, finance, first home buyers, interest rates

HIGHER interest rates, and a winding-down of government grants for new homes, have contributed to a contraction of housing finance, for the second successive month in November, 2009 (released January 2010).

Strong population growth, pent-up demand, and re-interest in real estate, by investors, is expected to result in the RBA increasing interest rates when it meets next month – making it an unprecedented fourth straight interest rate rise since late last year.

It’s been speculated interest rates could rise between 1 and 3 per cent this year.

According to the recent ABS statistics, the number of housing finance approvals fell 5.6 per cent (seasonally adjusted) in November from October.