Owner occupier Home Loan approvals in Australia are down. The Australian Bureau of Statistics reports the number of owner occupied housing loan approvals dropped 4% in February 2010 as compared to January 2010. Loans for the construction of dwellings also decrease 2.8%.
So the RBA puts up interest rates in April?
The message, get ready to cash in on some bargains in a rising property market.
If you have the capacity and are contemplating buying an investment property, start making ridiculous offers on house’s you like. The higher rates go and the nastier the banks become, the tougher it will be for those who are highly committed.
Many will be tempted to sell. Be ready to be ruthless. There will be no place for compassion.
Your rents should reflect rental demand. The government will have some hand out available for those who need to rent, so charge as much as you can.
You need a competent mortgage broker if you are going to get the best mortgage finance deals. Shop around and get your advice in writing.