Got a lazy $35K in the bank – you could buy a property in Australia’s cheapest town!
Do you have $35,000 sitting in the bank?
Well, that would be enough to buy yourself a house in Australia’s cheapest suburb outright. So much for the affordability furore.
Read on for the top 10 cheapest suburbs in each state and territory. And guess what? Almost three-quarters of the selected suburbs have a median price of less than $200,000.
Brewarrina in New South Wales takes the title of Australia’s cheapest suburb, with a median house price of just $35,000.
In fact, NSW, is the best represented state in the top 10, with four suburbs making the list. Meanwhile, Tasmania is home to three of Australia’s cheapest suburbs, while Queensland has two and South Australia one.
NSW BREWARRINA House $35,000
QLD NELLY BAY Unit $40,000
NSW UNGARIE House $62,000
NSW PEAK HILL House $63,000
QLD CUNNAMULLA House $64,000
TAS ZEEHAN House $67,000
TAS QUEENSTOWN House $75,000
TAS ROSEBERY House $75,000
NSW BOURKE House $75,000
SA PINNAROO House $80,000
Source: RP Data, March 2012
ANZ finally reduces rate…
ANZ today announced that variable interest rates for home loans and investment loans will decrease by 0.37%p.a. after its May interest rate review.
Effective Friday 18 May 2012 ANZ’s variable interest rates will be:
| Loan Type | Current Rate (p.a.) | New Rate (p.a.) | Change (p.a.) |
| ANZ Standard Variable Rate |
7.42% |
7.05% |
-0.37% |
| ANZ Simplicity PLUS |
6.72% |
6.35% |
-0.37% |
| ANZ Equity Manager |
7.57% |
7.20% |
-0.37% |
www.northbrisbanehomeloans.com.au
NRAS approved house and land $333K. Contract crashed – and you profit from reduction in price
CONTRACT CRASHED- Now Reduced by $10,000 for immediate sale- NRAS approved.
HOUSE AND LAND PACKAGE now $333,000- Spacious 411sqm allotment- Mountview Estate, Redbank Plains.
Market rent $320-350 This package must be sold , check out other properties that have NRAS approval, you will not purchase better.
Full turnkey, Questus consortium at 20% discount. WWW.THEMOUNTVIEWESTATE.COM.AU
Location is 30km south west of Brisbane, new shopping complex has commenced, new road will link this estate with Greater Springfield.
Please ask for further information, secure this on $1,000 deposit
07 38899719
Any Investors chasing an Interest in Advance loan? How about 1yr @ 5.64%***
Interest in advance – new money $100K+ 5.64%
Contact us for details
www.northbrisbanehomeloans.com.au
North Brisbane Home Loans – May 2012 Newsletter
Here is the link to our most recent Mortgage Insight Newsletter which includes tips on:
- Reducing your mortgage
- Planning your tax return
- Keeping warm on a budget
http://multimedia.sterlingpublishing.com.au/touchpoint/may12/P108308.html
As always, if you have any questions or queries about how best to manage your home loan give us a call.
Warm regards,
Pat Cranshaw
www.northbrisbanehomeloans.com.au
RBA cuts rates…
The Reserve Bank of Australia today decided to lower the official cash rate. With inflation figures released last week showing the economy cooling, a cut to interest rates was considered a certainty.
The Board decided to cut the cash rate by 50 basis points to 3.75 per cent. For the past three months the Board had kept the cash rate on hold, and this most recent rate cut has come as no surprise to economists.
Official RBA rate cuts may help improve affordability and confidence in the housing market, but whether banks pass along the cuts in full remains an open question. Over the next few days we will find out which lenders will be passing on this reduction, and what percentage.
If you have questions about your current circumstances, or today’s RBA announcement, please get in touch. Lending institutions change their criteria all the time, so it’s always good to check in.
Patrick Cranshaw Dip FS (FP) Certified Mortgage Consultant – MFAA
Phone: 07 3889 9719 Fax: 07 3054 3133
Unit 6 | 25 Ferguson Street
Albany Creek QLD 4035
www.facebook.com/northbrisbanehomeloans
PS. If you have friends, family or colleagues who are currently reviewing their financial circumstances, nothing speaks louder than a referral!
29 out of 29 economists bet on rate cut… some by as much as .50%
Yes its time tomorrow for the RBA to meet (something Mr Abbott and Mr Shorten will well and truly know now – after their embarrassing gaffes last week).
Personally I would like to see at least a .50% cut – as the majors will only pass on around 75-80% of the cut – so if its only a .25% cut that would make “some”difference – but not enough to assist families and assist economy at the coal face.
At .50% – and with poor banks maintaining profit margins (afterall they still need ot make in excess of $4Billion each to maintain shareholder satisfaction!) – at 75% – this would equate to a pass on reduction of just .375 – and on a $350,000 home loan – this would reduce repayments buy around $90 pmth.
If you can keep you repayments the same – it will save you $48K in interest and 3.5 years off your home loan…. however most people will want money in their pocket to pay for the other things going up like power, petrol and groceries!
What will you do with your savings per month?
Its a great time to review and make sure you have the right loan at the right rate. Will you bank tell you if another bank has a cheaper rate? No – but we will 
www.northbrisbanehomeloans.com.au
Rate cut anticipation building
Soft inflation numbers are expected today, leaving the RBA scope for a rate cut when it meets next week.
ABS figures released yesterday show producer prices fell by 0.3% in the March quarter, coming in under economists’ predictions. Now economists are expecting CPI numbers, due later today, to show benign inflation.
An AAP survey of 17 economists found a median forecast of a 0.7% quarterly rise for CPI, bringing yearly inflation to 2.1%. Underlying inflation is expected to track at 2.4%, well within the RBA’s target range.
In the Bank’s statement on monetary policy following its April meeting, RBA Governor Glenn Stevens hinted that today’s inflation figures could be key to the Reserve’s decision to further cut interest rates, saying the RBA “thought it prudent to see forthcoming key data on prices to reassess its outlook for inflation, before considering a further step to ease monetary policy”.
Now is the time to order a Depreciation Schedule for your property!
You’d be thinking, ‘Why now? It’s only the middle of April.’
“Tenants”, is the answer. Tenants and access to the property hold them up more than anything else. With Easter just passed and school holidays in most states straight after that, this is a great time to find tenants at home.
It also means your job will come in just before the busy period. At this time of year, turn-around time is just 2-3 weeks.
Also if you act now – and get your Depreciation Schedule going, we will arrange for you a copy of a new property investing book called: Property Investing the Australian Way.
Contact our office on 07 3889 9719 or via web www.northbrisbanehomeloans.com.au
Is 2012 the best time to buy?
More than 40 per cent of Australians believe 2012 is the best time to purchase a residential property.
According to QBE LMI’s latest mortgage report lmiBAROMETER, more than 60 per cent of Australians intend to buy property in the next three to five years.
QBE LMI chief executive Jenny Boddington said these survey results prove there is still a good appetite for residential property, despite global uncertainty.
“Despite the ongoing global uncertainty and lower sentiment among borrowers, our lmiBAROMETER confirms that Australians intend to continue purchasing properties and 55 per cent believe it is important to get into the market now, rather than later,” she said.
Ms Boddington said the rate cuts at the end of last year have helped promote residential property and encourage first home buyers to jump into the market as quickly as possible.
“The first home buyers segment, who are typically younger, expect an average deposit of 12.2 per cent of the property purchase price and 39 per cent agree it is more important to get into the market now than wait and save for a bigger deposit,” she said.
Source: spionline
www.northbrisbanehomeloans.com.au
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