HOME LOAN MARKET UPDATE | SEPTEMBER 2020
I hope everyone is coping as well and staying healthy, particularly here in Victoria. It has been a very tough few months and it has been particularly sad seeing people’s livelihood so seriously impacted with the COVID restrictions. Hopefully we can all move past this and see the easing of restrictions sooner than currently forecast.
In this month’s update we discuss the property market and some of the factors that could potentially impact the market over the next three to six months.
Our most recent client activity has been predominantly first home buyers and investors looking to purchase and people refinancing their home and investment loans. Our enquiries and pre-approvals are very strong at the moment which indicates there are plenty of buyers out there. These people are waiting for a further drop in housing prices and want to be ready if any good buying opportunities come up when they can physically inspect properties in Victoria. It will be interesting to see if this buyer demand keeps the property market more buoyant than many experts are predicting. Lower interest rates will also mean that property owners whose work has been seriously impacted by COVID-19 may not be forced to sell their properties.
As always I am happy to have a chat (not a coffee unfortunately!) and advise on your personal circumstances.
Sean.
