Construction is set to begin on Badgerys’ Creek Western Sydney Airport

Western Sydney Airport at Badgerys Creek signed-off by Federal Government

Construction is set to begin on Badgerys’ Creek Airport after Prime Minister Malcolm Turnbull and Federal Urban Infrastructure Minister Paul Fletcher recently completed the final sign-off for the project.

Stage One of Western Sydney Airport is due to be operational in the mid 2020s, with a single runway and facilities for about 10 million passengers a year.

Stage One of Western Sydney Airport is due to be operational in the mid 2020s, with a single runway and facilities for about 10 million passengers a year.

Mr Fletcher said Western Sydney Airport would bring big benefits for the city and the nation.

CBA is raising interest rates on a range of fixed-rate home loans

The Commonwealth Bank of Australia is the latest bank to increase costs for home buyers seeking to lock in their interest rate, raising rates on a range of fixed-rate home loans.

The country’s biggest lender on Friday 2nd Dec 2016 raised interest rates by 0.2 percentage points to 4.24 per cent for its three-year owner-occupied fixed-rate loan, the most popular term.

► Increasing rates for our 2, 3, and 5 Year Fixed Rate Home / Investment Home Loans
► Reducing rates for our 1 Year Fixed Rate Investment Home Loans
► Reducing rates for our 4 Year Fixed Rate Home / Investment Home Loans

Interest rates could be on the rise sometime in 2017. That will likely come as a shock to many Australians

 

Westpac

Those who already have a Westpac fixed rate loan will be unaffected.

Figures provided by comparison site Canstar show property investors taking a Westpac five-year mortgage from next week who borrow $450,000 will pay an extra $158 dollars a month in repayments over 30 years.

Newcastle Permanent Fixed Rate Home Loans will take effect from 5th December

1 Year Fixed 3.99% (from 3.69%)

2 Year Fixed 3.99% (from 3.69%)

3 Year Fixed 3.99% (from 3.79%)

4 Year Fixed 4.29% (from 3.95%)

5 Year Fixed 4.39% (from 3.95%)

Banks and lenders are attributing these recent increases to higher international funding costs, due to uncertainty in global debt markets following the outcome of the US election.

Fixed and variable loans are funded differently by lenders and therefore the rates you pay depend on a variety of circumstances

The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this call us or email.

Sydney House prices could rise 18% in 2017

House prices in Sydney have gained 9.1% over the past year according to CoreLogic RP Data. Meanwhile, SQM Research says Sydney house prices could increase by as much as 18% next year.

In SQM Research’s Housing Boom & Bust Report 2017, analyst Louis Christopher forecasted a gain of between 13% and 18% for Sydney, should the Reserve Bank of Australia slash the official cash rate by 0.25% by mid-2017.

Even if RBA doesn’t reduce interest rates, Christopher is predicting gains of between 11% and 16%. On the other hand, if RBA does raise rates by 0.25%, then Sydney prices could see increases of between 8% and 13%.

Melbourne faces a similar scenario, with a rate cut generating growth of between 12% and 17%. No changes would mean 10% to 15% gains in property prices and growth of between 8% and 13%.

Darwin and Perth are expected to continue to decline by as much as 9% if RBA raises the cash rate. Other capital cities are expected to see single-digit growth no matter what the central bank does.

Christopher also forecasted an oversupply of new houses in 2017 and 2018, particularly in Brisbane. The city has numerous apartment buildings currently under construction in and around the central business district. This could see property prices tank and flow through to detached houses.

Whether you are looking to buy your first home, move home, refinance, or invest in property, a mortgage broker can help. Call us on 040380 3470 to discuss further. We will help you with paperwork – plus there is no charge for this service

Best Performing Suburbs in Australia

What were the best-performing suburbs in 2016?

Top Ten performing suburbs. Find the fastest growing and highest yielding suburbs in your state and around Australia
According to various reliable sources, 2016 was yet another high performing year with some suburbs seeing an annual growth of 40%.

This realestate.com.au table lists the top 10 growth suburbs across Australia.

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