An optimistic start to 2019

The year has started on a good note!

A survey of almost 2100 people, commissioned by comparison site Canstar, found 5 per cent of Australians expect prices to skyrocket, with an additional 33 per cent expecting steady growth. A quarter of those surveyed predict prices will remain stable.

And it’s not hard to see why. Despite predictions of a falling market in some of the major cities such as Sydney and Melbourne, in Newcastle, property prices remain relatively steady.

Newcastle – the place to be

Newcastle is a desirable place to live. Compared to Sydney, just a two hour drive away, property is affordable. We’ve got good employment rates and a great university making it an attractive place for young and older people alike.

The investment in local infrastructure is making it easier to get from the Newcastle CBD to surrounding suburbs, and with the Hunter Valley and a great coast on our doorstep, it’s not hard to see why the population of Newcastle is growing; some sources are predicting the population will increase to over 450,000 in 2019*.

Low interest rates

The Reserve Bank of Australia (RBA) has just chosen to leave the cash rate on hold at 1.5 per cent – giving us well over two years of no cash rate movements. Furthermore, there are predictions of this rate remaining low for at least the next few months.

Incentives

As well as the NSW government giving out grants and reducing stamp duty to first-time homebuyers, mortgage providers are keen for business; some are offering rate cuts while others have cash-back incentives. When reviewing offers, be sure to read the terms and conditions and seek the advice of a financial specialist so you know exactly what you are signing up.

Banking commission

After a year-long investigation, the recommendations from the royal banking commission have been made. These include overhauling the way in which mortgage brokers are paid, and while we have yet to see the final impact on this, at least the uncertainty has ended and the finance industry can start to move forward and adapt to any changes needed.

With all these positive aspects, make 2019 the year to really start working towards the financial goals and lifestyle you want, and use investing in property to help you get there.

Property is an investment that has stood the test of time – after all, everyone needs somewhere to live. We’ve been in business for over 40 years now, so we truly believe bricks and mortar are a good investment.

We do more than simply manage and sell property and we’re keen to share our knowledge and experience to help you realise your financial goals through property. Get in touch if you want to know more!

Give us a call on 02 4956 9777, send us an email to mail@newcastlepropertymanagement.com.au  or pop into our Cardiff office for an informal chat.

For more property management tips check out our Facebook page: www.facebook.com/NewcastlePropertyManagement

* http://www.population.net.au/newcastle-population/