Well, here we are… Spring. Where life begins, flowers blossom, days get warmer, and we start to think about how fast the year is going.
Spring is a welcome change after a Winter, which most are happy to see the back of. With the cool nights and short days behind us, we now get the chance to stop and smell the roses.
While some will be basking in the smell of freshly cut grass and flowers blossoming, people like me are rubbing their hands together in excitement. Spring is where the weather as well as the property market starts to heat up. I say instead of Spring cleaning, why not entertain “Spring buying/selling” (you can write that down)?!
The market is stabilising after the Royal Commission, the banks have received their slap on the wrist, now let’s move on. Borrowers are feeling more comfortable getting back into the market, and what a time to do it.
Spring has historically been a great time for buyers and sellers alike, as people are ready to make the move! We have seen a number of projects wow the Brisbane market, none more so than what realestate.com.au are posing as ‘Brisbane’s Best Reno Yet’. In the heart of Paddington on a 1147sqm block, her name was Rhondda and now is Woodrock, if she was hot like a sunrise before you just have to see it now… The boys at Graya have out-done themselves, (again!).
We are seeing more and more fantastic renovations on properties in the Brisbane area and beyond. ‘Character homes’ are being given the special treatment, and new levels of sophistication and class are creating increasing demand. We’re seeing this in the increasing auction numbers, because if you want a renovators delight, you’re not the only one. Take a number.
Like anything in life, the more competitive your offer is, the more likely it is to be accepted. Terms such as “cash offer” are what may ultimately set your offer apart (but don’t dare do that unless you know you have the $$ lined up with certainty!!).
What does this all mean for buyers? Whether you’re an investor, first home buyer, upgrader, down-sizer… whatever your reason for getting into a new property, you need to understand that there are limitations to what you can borrow – more so no than ever – which will vary according to a range of factors. Knowing how to get the finance you need, within the timeframes, could be the difference between getting the property you want, or not.
We can ensure that when that auction comes, or private treaty for that matter, you have the piece of mind of knowing your finance is already sorted.
In the meantime, try to enjoy Spring because before we know it we will be sweating like a gypsy with a mortgage!
Tom Kelly
Home Loan Broker
STAC Capital
