WooHoooooo…………….we (The Gold Coast) have scored the 2018 Commonwealth Games!!!!!!!!!!!!!!!!!!!!
Interest rates are on the way down……………..
The Light Rail Project will be completed on time………………
Ron Clarke will be Mayor till he is 90…………….no hang on, getting a little carried away there!!!!!
But what great news for the Gold Coast. This is just what the doctor ordered to help kick start our ailing economy.
Having close ties to the Gold Coast real estate industry, I get out and about most weekends visiting properties ‘Open for Inspection’ with a number of real estate agents.
For the majority of the properties I visit there are few inspections and I see first hand the state of our property market.
Then I talk to our Head Auctioneer who regularly travels to Sydney and Canberra. He says the agents are complaining down south about the state of their property market yet they generally have big numbers to their ‘Open for Inspections’…….to the extent they require a couple of agents on hand to manage the visitor numbers.
Having said that, I know interest rates and the Commonwealth Games announcement had nothing to do with it, but last week I had the busiest week (and it continues to be busy).
Nine new deals lobbed on my desk with further new enquires coming in this week.
Good to see an increase in activity from first home buyers plus buyers returning to the market after exiting at the height of the GFC.
Also seeing activity in the investment market.
As I said, I tend to think it all just a coincidence at this stage after all the encouraging news over the past couple of weeks, but maybe…just maybe……we may start to see a little improvement over the next 6 to 12 months as we hear new projects being announced to cater for the 2018 games.
Competition between the banks for a bigger share of the business is still happening with a couple of lenders announcing cuts to their fixed rates.
3 year fixed rates at 5.99% p.a.
It would appear that for the medium term, banks consider interest rates to remain down.
Receiving some good service from a couple of the banks of late.
Lodged a deal with ANZ a couple of weeks back and had an unconditional back within 24 hours.
Another deal lodged with CBA last week which was just a little complicated having a guarantor plus multiple securities yet the bank was able to provide an unconditional approval within a week.
Yet I hear of Contracts of Sale ‘subject to finance’ needing extention after extention.
There are lenders and ‘there are lenders’.
Before buyers use the services of a broker, they need to ensure the person they engage has the experience to process the deal quickly and efficiently.
There are broking groups out there who sell franchises to interested parties ‘no experience necessary’.
I’ve been in the industry over 35 years and I still learn something new each day.
Till next time…………..HAPPY DAYS!!!!