Loan Industry Giant Predicts Major Housing Market Gains After Elections
Announcement posted by Smartline Rockingham 20 Jun 2013
Mortgage broker in Rockingham concurs, reveals why those who wait to buy a house could lose thousands of dollars.
Rockingham, WA, June 20, 2013 - Recently, over 3000 real estate agents attended the Australian Real Estate Conference, which was held on the Gold Coast. One of the speakers was the founder of Aussie Home Loans, John Symond, who was also ranked number eight in a poll (naming the most influential economic, business and political leaders of the last 60 years), conducted by the Australian Financial Review.
During his speech, Symond predicted that the housing market would recover very quickly after the September election. Symond cited current low property prices and low interest rates as perfect conditions for the market to recover, while declaring that the only factor holding the housing market back from a full recovery is “consumer confidence.”
Symond predicted that the interest rate--already at a historic low--may lower even more before September, while prices are slowly starting to increase. He feels that the upcoming elections will cause the majority of Australians to have confidence in their government's ability to make decisions, rejuvenating their confidence in the housing market.
Further, Symond feels that the ability of first-home buyers to obtain home loans around 5% should be enough for many to finally say ‘yes’ in buying. He also cited RP Data research which states that the average home loan repayment is now less than the average rent in 796 suburbs, 296 up from 500 suburbs in 2011.
Symond predicts steady growth rather than a market leap and feels that real estate will continue to be a great long-term investment and that those looking for short-term gains probably won't find them in real estate.
According to Justin Smith, Symond's prediction is solid and the Perth real estate market is already starting to see the recovery of which Symond speaks: “I agree with pretty much everything that John Symond said but what he predicts is already happening in Perth, Rockingham, Baldivis and much of WA.”
Smith continued, “John Symond is based in Sydney and is talking about a national recovery. In the Perth market and really in most of WA, we are ahead of the rest of Australia due to the mining boom. Our economy didn't suffer nearly as bad from the ‘global financial crisis’ as the rest of Australia did and it is much further along in its recovery than most of Australia.”
Smith added, “I do agree with every figure and every trend he cited, it's just that it's happening faster here. I definitely agree 100% with one of his major concepts: Right now is the best time to buy real estate no matter what part of Australia you are in. While nothing is ever guaranteed, every indicator says the market is ready to explode soon. Every cost associated with buying a house is low, while income is relatively high in comparison.”
Smith explained further: “Historically, real estate has been a solid long-term investment because the market has risen in many more years than not. Market struggles since the ‘global financial crisis’ were rare but have created a great opportunity for those who want to enter the market--from first-home buyers to investors--because of regression toward the mean.”
Smith concluded, “Ultimately, this means that the real estate market should soon be as it was for most of the last 50 years: Healthy with steady growth.”
The Mortgage Gallery Rockingham are mortgage brokers who serve Kwinana, Rockingham, Baldivis and surrounding suburbs. For more information, please call (08) 9527 1800 or visit their website: http://www.themortgagegalleryrockingham.com.au/ .
During his speech, Symond predicted that the housing market would recover very quickly after the September election. Symond cited current low property prices and low interest rates as perfect conditions for the market to recover, while declaring that the only factor holding the housing market back from a full recovery is “consumer confidence.”
Symond predicted that the interest rate--already at a historic low--may lower even more before September, while prices are slowly starting to increase. He feels that the upcoming elections will cause the majority of Australians to have confidence in their government's ability to make decisions, rejuvenating their confidence in the housing market.
Further, Symond feels that the ability of first-home buyers to obtain home loans around 5% should be enough for many to finally say ‘yes’ in buying. He also cited RP Data research which states that the average home loan repayment is now less than the average rent in 796 suburbs, 296 up from 500 suburbs in 2011.
Symond predicts steady growth rather than a market leap and feels that real estate will continue to be a great long-term investment and that those looking for short-term gains probably won't find them in real estate.
According to Justin Smith, Symond's prediction is solid and the Perth real estate market is already starting to see the recovery of which Symond speaks: “I agree with pretty much everything that John Symond said but what he predicts is already happening in Perth, Rockingham, Baldivis and much of WA.”
Smith continued, “John Symond is based in Sydney and is talking about a national recovery. In the Perth market and really in most of WA, we are ahead of the rest of Australia due to the mining boom. Our economy didn't suffer nearly as bad from the ‘global financial crisis’ as the rest of Australia did and it is much further along in its recovery than most of Australia.”
Smith added, “I do agree with every figure and every trend he cited, it's just that it's happening faster here. I definitely agree 100% with one of his major concepts: Right now is the best time to buy real estate no matter what part of Australia you are in. While nothing is ever guaranteed, every indicator says the market is ready to explode soon. Every cost associated with buying a house is low, while income is relatively high in comparison.”
Smith explained further: “Historically, real estate has been a solid long-term investment because the market has risen in many more years than not. Market struggles since the ‘global financial crisis’ were rare but have created a great opportunity for those who want to enter the market--from first-home buyers to investors--because of regression toward the mean.”
Smith concluded, “Ultimately, this means that the real estate market should soon be as it was for most of the last 50 years: Healthy with steady growth.”
The Mortgage Gallery Rockingham are mortgage brokers who serve Kwinana, Rockingham, Baldivis and surrounding suburbs. For more information, please call (08) 9527 1800 or visit their website: http://www.themortgagegalleryrockingham.com.au/ .