New Faces🙋♂️, Figures📈 & Financial Updates💱 – November 2019
Meet our new employee, then see where rates and property prices are heading, in this month’s Black & White Finance update for November 2019. Enjoy!
Meet Angelo
Please meet our brilliant young gun, Angelo.
He’s hard-working, a great communicator, holding a degree in journalism and someone we believe will add significant value to the experience we’re providing our customers with.
He brings with him amazing values, a love for family, a lot of passion and eagerness to help Black & White Finance grow.
“Hi Black & Whiter’s, I’m super excited to be part of the team here!
Here’s a little about me; I worked for ANZ for 2 years starting off as a service consultant and then moving on to be a personal banker.
When I’m not helping people break into Sydney’s property market, you can typically find me playing video games cracking banter online or going for a relaxing weekend ride on my motorbike.
I’m really looking forward to making my mark and showing the world I’ve got what it takes!”
Do you rate it? – Sydney’s Property Rates
Last month, the Reserve Bank of Australia dropped the cash rate by 25 basis points to 0.75 per cent. Even though not all banks passed on the full rate cut, it’s brought our interest rates to ridiculous lows.
There have been worries that the disputes between the US and China, would be detrimental to international trade flows, concerns about Australia’s unemployment rate and our dollar.
Alan Oaster, NAB’s leading economist believes rates will come down again once this year because of what the current conditions are like.
However, it’s not all bad news, both commercial and residential borrowing rates are at historically low levels meaning if you were on the fence about breaking into the property market, now could be the time to do so.
Property Values – Nothing can stop them they’re all the way ⬆!
Data from CoreLogic suggests that Sydney’s property prices are rising, with September’s figures on the up & up. The housing market gained up to 3.6% over the quarter compared to the unit market which gained up to 3.3%.
While we still have a ways to go to reach the market peak of 2 years ago, the numbers are in black and white and housing values are increasing.
We’ve definitely noticed the investors back on the hunt and maybe it is a good time to consider purchasing an investment property to turn a profit in the coming years.
Do you consider this risky to jump in now?
Or would you rather think to the future, because you understand how property prices have performed historically?
Food for thought, nevertheless.
Hot Spots! – The property kind🏠, not mobile data📵!
CoreLogic data suggests that over the month of October, Melbourne property values sky-rocketed 2.4% leaving Sydney in their dust.
This price surge in housing is the biggest monthly gain since May 2015 and this is indicated in the table below;
(click here to open the table if you’re a numbers person)
So if Sydney’s property market is just not doing it for you, or you’re sick of going to auctions and being outbid, or if you simply just hate your neighbours, then why not consider Melbourne?
Based on these figures alone, it would seem that Melbourne could give you the most bang for your buck.
A definite contender for investment and residential needs alike!
Final Thoughts
Everything we’ve mentioned today should give you a clear indication on the current state of the property market.
From a black and white perspective, these low rates and market improvements are showing us that things are again, looking positive.
We would love to help you on that journey whether you’re a first home buyer to purchasing your 10th investment property or anything in between.
Regardless of which stage of life you are in, we treat every black and white customer the same way.
Not as another number, but as a member of our family.
From everyone here at Black and White Finance we wish you all the very best!
See you in next month’s blog and good luck in tomorrow’s Melbourne Cup!
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We’re also keen to receive your questions and if you want to know of some other great terms or rates on offer at the moment, and would rather email, please send a note to peter@blackandwhitefinance.com.au
* Your full financial situation would need to be reviewed prior to any acceptance of any offer or product. Subject to lenders terms and conditions, fees and charges and eligibility criteria.