28/09/2021
There are plenty of reasons to check out your personal financial health this month, whether you're looking at a big mortgage or a small loan. Rates are at their lowest yet, as at least one lender has taken the scissors to their numbers, while Aussies are making a dent on credit card debt in lockdown, and the government is taking a good look at the superannuation funds that could be doing better. There's so much to check out, and so many reasons to get your money health in order.
House prices have risen in most suburbs of Perth, W.A. and it looks like the investors are set to cash in as the rental prices soar, are we in for a rent war?
Australia’s biggest bank sounds the alarm on rapid surge in house prices | WATCH
PHOTO: In August, Australia property values soared by 18.4 per cent, marking the fastest annual growth since July 1989 when interest rates were at 17 per cent
• Commonwealth Bank chief Matt Comyn ‘concerned’ about rising house prices
• He conceded rising property values also meant surging and unmanageable debt
• Australian property prices in August surged by an annual pace of 18.4 per cent
The boss of Australia’s biggest home lender has admitted he is worried about the rapid surge in house prices.
Commonwealth Bank chief executive Matt Comyn has become the first head of a major bank to raise the alarm about unsustainable debt levels as property values climb at the fastest pace in 32 years.
During a parliamentary hearing, Liberal MP Tim Wilson had asked him if he was concerned about mortgage stress, a situation where borrowers can’t meet their monthly home loan obligations.
We are finding that some investors who had properties before the covid 19 outbreak and had a large mortgage, were hammered in all directions, financial and mentally to the point where as soon as they were able they opted to sell their investments and cut their losses, some losing more than $50,000.
However….now the market is a little more stable, and activity has shrunk back a little with purchasers pulling back and waiting until the market finds its feet and stabilizes as it were.
Before the mad rush in my opinion, I’d say NOW is the time to go see your broker, I’m happy to provide you with some brokers we have used in the past and found they looked after our clients very well.
Are you considering SELLING????
Perfect….. I am happy to conduct a appraisal on your property, FREE of charge, call now for your obligation free property analyses.
Contact myself Andrew Chant on 0439521009 or [email protected]
