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Most economists forecasting rate cuts🤔🔮🪚

The Reserve Bank is expected to reduce the cash rate by 0.35 percentage points by mid-2025, and to then keep lowering it, according to a survey of 29 economists by The Conversation.

On average, the economists expect the cash rate to fall from 4.35% to 4.00% by June 2025.

Of the 29 economists, 24 expect the cash rate to be lower by June 2025 than it is now, while four expect it to be the same and one expects it to be higher.

The cash rate is then expected to keep falling, reaching 3.70% by the end of 2025 and 3.50% by the end of 2026.

If the forecasts are true, that would mean home loan interest rates would start declining from 2025.

LMS Takeaway- Remember when rate cuts were already meant to be here? Don't hold your breathe waiting. If rates get cut it should be a bonus to your budget, not a requirement to make ends meet.

#property #realestate #interestrates #realestateaccountants
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Most economists forecasting rate cuts🤔🔮🪚The Reserve Bank is expected to reduce the cash rate by 0.35 percentage points by mid-2025, and to then keep lowering it, according to a survey of 29 economists by The Conversation.On average, the economists expect the cash rate to fall from 4.35% to 4.00% by June 2025.Of the 29 economists, 24 expect the cash rate to be lower by June 2025 than it is now, while four expect it to be the same and one expects it to be higher.The cash rate is then expected to keep falling, reaching 3.70% by the end of 2025 and 3.50% by the end of 2026.If the forecasts are true, that would mean home loan interest rates would start declining from 2025.LMS Takeaway- Remember when rate cuts were already meant to be here? Dont hold your breathe waiting. If rates get cut it should be a bonus to your budget, not a requirement to make ends meet.#property #realestate #interestrates #realestateaccountants

How buyers are coping with higher prices 😥↗️👍

Rising property prices are a double-edged sword for buyers, making it both more attractive and more challenging to buy a property.

But a new home buyer sentiment survey, conducted by mortgage insurer Helia, shows that buyers are actively searching for ways to overcome the deposit hurdle.

The survey found that a significant number were looking for ways to save a deposit more quickly, with 39% working overtime and 27% taking a second job. And 45% were looking at government assistance schemes such as the federal Home Guarantee Scheme, which helps buyers enter the market with a small deposit.

Furthermore, 92% of respondents said they were considering using lender's mortgage insurance to purchase a property. This lets eligible borrowers qualify for low-deposit loans, in return for paying an insurance premium designed to protect the lender in case they default on their mortgage.

* Do you have a strategy around property?
* Are you extracting wealth from your business to build a second income stream?
* Have you considered less than 20% deposit for your next property?

Contact us today to get started

#property #realestate #investing #realestateaccountants
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How buyers are coping with higher prices 😥↗️👍Rising property prices are a double-edged sword for buyers, making it both more attractive and more challenging to buy a property.But a new home buyer sentiment survey, conducted by mortgage insurer Helia, shows that buyers are actively searching for ways to overcome the deposit hurdle.The survey found that a significant number were looking for ways to save a deposit more quickly, with 39% working overtime and 27% taking a second job. And 45% were looking at government assistance schemes such as the federal Home Guarantee Scheme, which helps buyers enter the market with a small deposit.Furthermore, 92% of respondents said they were considering using lenders mortgage insurance to purchase a property. This lets eligible borrowers qualify for low-deposit loans, in return for paying an insurance premium designed to protect the lender in case they default on their mortgage.* Do you have a strategy around property?
* Are you extracting wealth from your business to build a second income stream?
* Have you considered less than 20% deposit for your next property?Contact us today to get started#property #realestate #investing #realestateaccountants

Net wealth has doubled since 2012 2️⃣❌

The average Australian had a net worth of $598,000 at the end of March, based on the latest data from the Australian Bureau of Statistics.

Average net worth is calculated by adding up all of our assets (such as our properties) subtracting all our liabilities (such as our home loans) and then dividing that net wealth equally among every Australian.

Household wealth went backwards for parts of 2022, due to a downturn in property prices, but has since increased for six consecutive quarters.

As the graph shows, net wealth has doubled since 2012, tripled since 2003 and quadrupled since 2001. Much of that wealth gain is due to the long-term increase in property prices.

LMS Takeaway - You cant buy groceries with net wealth How is your cashflow? Contact us if you'd like to explore the difference

#property #realestate #wealth #realestateaccountants
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Net wealth has doubled since 2012 2️⃣❌The average Australian had a net worth of $598,000 at the end of March, based on the latest data from the Australian Bureau of Statistics.Average net worth is calculated by adding up all of our assets (such as our properties) subtracting all our liabilities (such as our home loans) and then dividing that net wealth equally among every Australian.Household wealth went backwards for parts of 2022, due to a downturn in property prices, but has since increased for six consecutive quarters.As the graph shows, net wealth has doubled since 2012, tripled since 2003 and quadrupled since 2001. Much of that wealth gain is due to the long-term increase in property prices.LMS Takeaway - You cant buy groceries with net wealth How is your cashflow? Contact us if youd like to explore the difference#property #realestate #wealth #realestateaccountants

Home loan volumes rise 12.1% ✍⬆️️

Significantly more property buyers have entered the market over the past year, based on the latest mortgage data from the Australian Bureau of Statistics.

The number of new home loans (excluding refinancing) rose from 50,595 in May 2023 to 56,730 in May 2024, an increase of 12.1%.

* Owner-occupier loans rose 5.7%, from 33,641 to 35,572 loans
* Investor loans rose 24.8%, from 16,954 to 21,158 loans

More buyers in the market means more competition, which tends to lead to higher prices. Between May 2023 and May 2024, Australia's median property price rose 8.3%, according to CoreLogic.

#property #realestate #homeloans #realestateaccountants
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Home loan volumes rise 12.1% ✍⬆️️Significantly more property buyers have entered the market over the past year, based on the latest mortgage data from the Australian Bureau of Statistics.The number of new home loans (excluding refinancing) rose from 50,595 in May 2023 to 56,730 in May 2024, an increase of 12.1%.* Owner-occupier loans rose 5.7%, from 33,641 to 35,572 loans
* Investor loans rose 24.8%, from 16,954 to 21,158 loansMore buyers in the market means more competition, which tends to lead to higher prices. Between May 2023 and May 2024, Australias median property price rose 8.3%, according to CoreLogic.#property #realestate #homeloans #realestateaccountants
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