Don’t forget you can still save for your first home with the Governments “First Home Buyers Deposit Saver Scheme.” No need to rush, house price’s may well come down 20% post 31 December 2009, as the depression deepens! So keep saving.

In the mean time speak to a quality Mortgage Broker about how much you need to save.

It seems all the original criteria remain the same, with just the date for expiry extended to 30th September 2009, in its current form and to 31st december 2009 with slightly reduced benefits. So get your skates on, free up your cash. Sell that expensive car and take the bus, cut out excessive spending on entertainment and clothes, give up smoking and take a part-time job. Above all save, save, save.

Unfortunately property prices have gone up because of the boost, but there are still some reasonably priced properties available and interest rates are at historical lows.

Do you have a granny who is ready for the nursing home? Why not buy her house? You could even let her stay as boarder after you take over. You will save on agents fees at least. She may be happy that her home is staying in the family.

There are heaps of things you can do to find a reasonably priced home. Please be innovative, think outside the square. However, make sure you abide by the rules of the boost. I hear the government will be checking up on people.

If you dont have a contact with a Bank or Mortgage Broker, I am now using Easy-Loans for my customers. All the work is done either by email, instant messenger or telephone, hassel free.

My information is that one of the big four Australian Banks may be about to break ranks and cut their variable home loan interest rate dramatically. With rates already at historical lows, a further drop will provide a welcome lift to first home buyers, those with big borrowings, the economy and the many small business’s in need of a cash flow boost with cheaper credit. Check out what a rate drop will do for you.

I have been trying to embrace the teachings in The Secret dvd my wife gave me for my birthday. When I heard about the possibility of a one of the big four Banks breaking ranks over not passing on the RBA cuts I was chuffed, as one of the things I have been visualising, is a better rate on my home loan. I recently purchased a work book to record the things I want to attract. maybe it is working! I guess I will find out when the news breaks.



The Secret Vision Book is a wonderfully illustrated, easy to use e-Book that will change your thought process from unsuccessful to successful and happy using The Secret DVD philosophy. Did you know that 97% of people who watch the secret DVD or read the books from The Absolute Secret range will fail to apply the principles? Why? Because, they don’t know what to do next. The Secret Vision Book is a working system in which you can record all the things you want to attract into your life.

Maybe Australia is not as insulated from the world wide property bubble as we would like to think?

A Second consecutive quarterly fall in the Established House Price index may well be the precursor for more dramatic falls in 2009, despite the Federal Governments interest rate cuts and First Home Owner Boosts.

The Australian Bureau of Statistics provides quarterly estimates of changes in housing prices in each of the eight capital cities of Australia.

The information is presented in the form of price indexes and is published quarterly.

The following is an exert from the ABS July to September 2008 quarter paper released 3rd November 2008.

“SEPTEMBER KEY POINTS

ESTABLISHED HOUSE PRICES

Quarterly Changes
Preliminary estimates show the price index for established houses for the weighted average of the eight capital cities decreased 1.8% in the September quarter 2008.

The capital city indexes fell this quarter in Brisbane (-3.3%), Canberra (-2.5%), Melbourne (-1.9%), Sydney (-1.8%), Perth (-1.1%), and Adelaide (-0.1%), and rose in Hobart (+0.7%), and Darwin (+0.1%).

The movement in the preliminary established house price index between March and June quarters 2008 has been revised from an estimated decrease of 0.3% to a decrease of 0.2%.

ANNUAL CHANGES (SEPTEMBER QUARTER 2007 TO SEPTEMBER QUARTER 2008)

Over the year to September quarter 2008, preliminary estimates show that the price index for established houses for the weighted average of the eight capital cities rose 2.8%.

Annually, house prices rose in Adelaide (+9.7%), Melbourne (+8.1%), Darwin (+6.4%), Brisbane (+5.6%), and Hobart (+2.4%), showed no change in Canberra (0.0%), and fell in Perth (-4.1%), and Sydney (-0.4%).

The movement in the preliminary established house price index between June quarters 2007 and 2008 has been revised from an estimated increase of 8.2% to an increase of 8.6%.”

This information is generally hidden away and scantly reported by the popular media. I find it interesting as it contradicts the reports by most media outlets. The information is useful If you are buying an established house.



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First home buyers who purchase established homes will now receive a grant of $14,000

First home buyers who contract to build a new home or purchase a spec type, newly constructed home will receive a grant of $21,000.

To qualify for a grant you must have never owned or had an interest in a residential property other than a block of vacant land. The same seems to apply if your spouse/domestic partner previously owned a residential property anywhere in Australia. According to the SA government fact sheet, a spouse/domestic partner must be included on your application.

The boost is applicable to contracts signed between October 14 2008 and June 30 2009.

For clarification of your position I suggest you contact a reputable mortgage broker, they will also be able to advise you about which lenders can be used to take advantage of the grant. You may also want to consult the relevant Government Department in your state. I also suggest you get information on the First Home Buyers Deposit Saver Scheme as well.

Property developers and vacant land owners should benefit from these changes the most. So if you have a piece of land that has development potential, get moving. This is why I like investment properties on their own title. The opportunities for wealth creation are always there, even in tough economic times.