Posts Tagged sydney

Beginners Guide to Home Loans Myths


Mortgage Broker SydneyDon’t believe everything you hear about home loans. Seek the truth from a professional. This Beginners Guide to Home Loans  Myths can help understand the home loan process and clear up some of the misinformation you might hear.

I have been involved in arranging home finance for people for many years. I have worked for a major bank and finance company and as I write this guide to home loans, I have been an independent Mortgage Broker in Sydney  for 13 years. With 25 years of experience and access to information from other highly experienced brokers and bankers I still get challenged by clients who sometimes do not like what I tell them, if only they had read this guide to home loans and not believed what their other “experts”had told them !

There is a lot of “water cooler” talk out there in the market place and people, while trying to be helpful, will offer advice on borrowing money or structuring loans. Beware, quite often this advice is based on hearsay and not lender policy or principles, that’s where this guide to home loans comes in. You may have heard people say “just get a guarantor”, or, “you need a credit card to get a credit rating before you get a loan”.  Or perhaps the old favourite “I can buy a house and consolidate all my other debt into the mortgage”. While some of this information may have some relevance in some circumstances, in a lot of cases it is just plain wrong. I hope this guide to home loans will dispel some of these myths to help people looking for a home loan get onto the right track.

Guide to home loans – Myth No 1. You Have to Shop Around for the Best Deal

While I agree you need to look at many loan options BEWARE how you do it. This part of my guide to home loans will help you choose how to research a home loan that is right for you.

Nowadays with so much information on the internet many people use it to source loan information. But what I have seen happen is people can get into a trap of applying for a loan on line with out knowing they are doing it, if only they had read this guide to home loans! Mistakenly applying for a home loan can also happen sometimes if you meet with a lending manager in a Branch. With these methods sometimes before you know it your details are entered into the lenders computer system, a credit check done and you are told your loan is approved subject to you providing the supporting income and savings evidence.  While you might be please to know the lender will give you a loan you were really only shopping around and had not made a decision on the lender of your choice but now you have this application recorded against your credit rating.

Most lenders now use an online credit scoring system to assess loan applications. The human personal element has been removed. Here is a secret the banking industry doesn’t tell you. There are about numerous fields in an application that get a “Score”.  No one knows the exact number of fields, the lender can’t or won’t tell us.  If the score comes in outside the approval score your application is automatically declined. Have you seen Little Britain, “The computer says No”. If the computer says no it is very hard to get it overturned. It might be possible to have it overturned but it will delay your application at a time when time is of the essence. One of the main reasons loans are being declined with this credit scoring system is too many credit enquires over a short period of time on a client’s credit check report. From a lenders point of view they do not know that you have only been shopping around and did not actually proceeded with the loan applications that appear on your report. Their thinking is if the previous lenders would not approve a loan for you why should they take the risk and your loan is declined.

Guide to home loans – Myth No 2.    You can have a guarantor

So many times I have new clients coming to me and saying “my father will go guarantor” so I can get the loan. It just does not work that way, this part of my guide to home loans explains some of the ins and outs of having someone being your guarantor on a loan.

A guarantor can not be used to help you borrow more money than you can afford on your income alone. If their income is needed to help repay the loan the lender will require them to be a co borrower and their name will be on the loan. This in turn will restrict them from borrowing money in their own name as they now have a loan listed on their credit report. The only way a guarantor can be used is by offering an additional property or cash as security against a loan in order to save the cost of mortgage insurance.

When you are buying a property and you need a loan unless, in most instances, you have savings to cover not 20% of the purchase price plus stamp duty and legal costs you have to pay a once only mortgage insurance premium. This premium protects the lender in case you default on the loan. The premium can be thousands of dollars. Most lenders allow a guarantor in this instance.  The guarantor has to offer a property as security for the loan and the amount of the guarantee is limited to the mount required to have property offered as security covering up to 20% of property purchase and associated costs.

This form of guarantee is often referred to as a family guarantee or family pledge.

It is important to note that the guarantor in this instance is not being assessed in order to make repayments on behalf of the borrowers. Their guarantee is only being used to save the borrowers the cost of the mortgage insurance.  There usually has to be a family connection in order for this guarantee to be approved and the guarantor has to obtain independent financial and legal advice.

Should the borrower default on the loan both the borrowers and guarantor’s property could be sold to cover the amount owing to the bank.  In most cases should this happen it would be in the guarantors favour to try and arrange finance to cover this limited guarantee and have his property handed back to him. The problem arises then the guarantor does not have the borrowing capabilities to finance the amount of debt he has guaranteed.

Guide to home loans – Myth No 3.  I need to borrow money and get a credit rating before I can get a home loan.

I often hear clients say I have to borrow money on a credit card or personal loan to get a credit rating so I can get a home loan. Borrowing money on a high interest loan just to get a credit rating is just throwing good money away. There are other ways to build a great credit rating – these will now be explained in this guide to home loans.

What you really need to do to get a home loan is show a good savings history that will demonstrate to the lender that you have the income and lifestyle to commit to and repay a home loan.

When a lender is accessing you for a home loan they look for a savings history, stability of employment and your ability to repay the loan based on your income and other loan commitments. By having a credit card or personal loan the amount you can borrow is reduced.

If you have borrowed money in the past and missed payments or defaulted on the loan this will make it very difficult to be able to get a home loan.

Guide to home loans – Myth No 4. I can combine all my debts into my home loan.  

 Time and time again I have clients coming to me and they want to buy a property or refinance their current loan and also combine all their current debts into the new loan. This part of my guide to home loans will explain your options for debt consolidation.

This can only be done if you have enough equity in the property you are giving the lender as security for the loan. By equity I mean the difference in the loan amount to the value of the property. An example of this is you have a loan of $400,000 against a property worth $500,000 which means you have $100,000 equity or 80% equity.

When you are combining additional debts into your home loan this is seen as refinancing and the lender will only lend up to 90% of the value of the property held as security. Most first home buyers borrow between 90% to 95% of the value of the property so combining additional debts is not an option available to them.


No guide to home loans is complete without some tips for making the process of obtaining a home loan run smoothly.

Guide to home loans – Truth Number 1. Seek the Advice of an expert.

When you are looking for a home loan or even once you have one you will constantly have people giving advice on what can and can’t be done. Some advice will be correct, some will have once been right but now due to changes in lending policies will be obsolete and some advice will be just plain wrong. That’s where my guide to home loans, and more importantly personalised advice I can give you, comes in handy.

In order to ensure that you have the most up to date information you need to be speaking with the people who are involved on a daily basis with a variety of lenders and know their policies and procedures.

I have been advising people on home loans for over 25 years and have not only the knowledge and experience that comes with working in the home loan field but I also have the latest information at my fingertips due to the technology I have available to me.

My best advice to you is before you believe any of the “water cooler” talk about home loans you contact me to confirm what you have heard is true of false.

Guide to home loans – Truth Number 2. Know what is on your credit report.

Everyone should be aware of what is on their credit report. My guide to home loans will help you sort this out.

You can get a copy of your report at  You will wait 10 days for a free report or for about $60 dollars it can be emailed back to you in an hour. I provide these free for my clients if we think there may be a problem. So how can you shop around safely, investigate your options and not have your enquiries recorded on your credit report? The best way is by meeting with a reputable mortgage broker who is a member of the Mortgage & Finance Association of Australia.  A  member of this organization has a standard of ethic and education they must meet and you can feel confident you are dealing with a professional.

Guide to home loans – Truth Number 3. Get the best advice and information.

A mortgage broker will be able to show you various interest rates and loan products from a number of lenders. They can also discuss your personal situation and advise you on what loan product best suits your needs. Each lender has different criteria when they assess your loan application and some lenders will offer you a bigger loan than another lender. A mortgage broker can sort through all the options and you get to pick the loan that you want.  They know the policies and procedures of the lenders and can save you a lot of time and effort by talking through any loan characteristics that may or may not suite your situation.

A Mortgage Broker really is a one stop shop for your home loan needs.

I hope you have found this information useful and if you have any questions please contact me Kim Wight Mortgage Broker Sydney at



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Buying At Auction – What You Need To Know

Mortgage Broker SydneyBuying property at auction can be a daunting task, and with more and more properties being sold by auction these days it is important that you understand the process and have your finance in place before you bid.

When you are buying property at auction there is no cooling off period, which means once the hammer is down you have bought the property and have to proceed to pay for it. Unlike a property that is sold by private treaty you do not get 5 days to arrange finance and do property searches all this must be done before the auction.

The most often asked questions people have when buying property at auction are:

1. Can I have the loan approved before I bid?

I advise all my clients to have their loan application assessed before starting negotiation on any property purchase but if you are buying property at auction you need to know in advance that you will be able to get a loan for the amount of money you need.

We can arrange to have your loan pre approved which means that the lender will look at your credit report, income, savings, assets and any other debts you may have and then pre approve you for a loan based on this information.  As you cannot be sure how much you will have pay when buying property at auction, the loan cannot be formally approved.

When buying property at auction, I suggest to all my clients that we get the loan approved for the maximum amount your income can service and that you feel comfortable with and then lower the loan amount once you have successfully purchased the property and we know exactly how much loan money is required.

The loan preapproval with be subject to a valuation on the property and if you are borrowing more than 80% of the property value acceptance by the mortgage insurance company.

There is always an element of risk buying property at auction with no cooling off period but with the right pre work the risk is greatly diminished.

2. Can I have the lender value the property before the auction?

This question is always a tricky one.

When buying property at auction and there is a contract of sale with an amount on it a valuer will base their valuation on the sale amount plus comparative sales in the area. Because someone was prepared to pay the amount on the contract as long as the amount is not unrealistic based on other sales in the majority of cases the valuation will come in at the sale price.

When there is no contract of sale the valuer will base their valuation on comparative sales and the property may value at less than you are prepared to pay. If the Bank has done the valuation before the auction they will accept the valuation amount not the purchase price when accessing the LVR (loan to valuation ratio) which may result in a reduced loan amount or an increase in the cost of mortgage insurance.

Again, when buying property at auction there is an element of risk that the property may not value at the purchase price but if you have done your research  and keep your cool at the auction and do not exceed the maximum amount you believe the property to be worth the risk is extremely low.

In my 25 years of lending I have not had a property purchased at auction come in lower than the amount paid. This gives you confidence to use my service when buying property at auction.

3. How do I know how much to pay?

You need to research property prices in the areas you are looking at prior to buying property at auction. You can do this by attending open houses and gauging the value of the property by the asking price and what the property has to offer in way of size, location, quality of fittings, décor.

You can look on the various real estate sites at the sold properties which often list the sale price.

The easiest way is to ask me to provide a free RP Data property report on any property you are considering buying property at auction, or indeed any property at all.  This will give an estimate of the current value and list comparative sales in the area. This report is one of the tools the valuers use when assessing the value of properties and I can give you free access to it.

4. How can I buy before I sell my current place?

This is the problem existing home owners find themselves in and causes the most stress when buying property at auction or otherwise.

If you sell before you buy what if you cannot find a property you like, but if you buy before you sell how can you afford to pay for the new property?

I always advise my clients who are in this situation to ask for an extended settlement time. Most contracts of sale have a completion date of 42 days (6 weeks) after the signing of the contract.  If you can extend this time to 10 or more weeks to allow you to sell your property you do not have to consider bridging finance.

With a bridging loan, the lender will loan you the money to cover the gap between settlement and buying a property at auction or otherwise. Effectively, the lender agrees to take on both mortgages. Bridging finance typically covers a period from a few days to a few months.

This form of finance is expensive because in most cases your existing loan and the full amount of the new purchase are combined and interest accrues on the new total loan balance. The lender will access your ability to repay the loan based on the amount you will owe after the sale of your existing property. There are additional fees due to the lender having to value two properties plus other associated costs.

There are strict criteria for bridging finance before approval is given which will include the unconditional sale of a borrower’s existing property and restrictions on proposed settlement terms. Other conditions may be imposed on a case-by-case basis. The finance is usually only available for 6 months after which penalties may apply.

My advice is to allow me to fully access your personal situation and together work on the best strategy for you when buying property at auction.  I have always bought before I sold so I understand the stress involved in purchasing this way but with careful planning the stress can be reduced.

5. I haven’t sold my place yet so how can I get the money to pay the 10% deposit.

Once you find the perfect house and you have the thrill of buying property at auction, you sign the contract of sale and will be required to pay the 5% or 10% deposit which ever amount has been agreed upon. If you do not have the money and cannot borrow it short term from family we will need to arrange a deposit bond for you.

A deposit bond is basically an insurance policy. The deposit bond is the policy document that tells the vendor that the insurance company will pay the 10% deposit to the vendor if you for some reason do not proceed with the purchase. The insurance company will then endeavour by all legal means at their disposal to get the bond money back from you.

There is a once only premium paid for the bond. When purchasing at auction the premium is calculated on the maximum amount you are prepared to pay. If you are unsuccessful at auction the bond can be returned and a portion of the premium refunded.

In the normal course of events settlement takes place, the purchase price is paid in full and the deposit bond simply lapses

6. Other than the loan what else should I organise?

Buying property at auction can be an expensive exercise as you have to do all your due diligence even though you may not be the successful bidder but it could be even more expensive if you do not.

  • Have a solicitor review the contract of sale. They can address any conditions of the contract that may not be in your best interest and can also ask for an extended settlement if required. They will also arrange any searches that they feel would be in your best interest to undertake such as strata reports or building surveys.
  •  Get a pest & building inspection done. It is important to find out if there are any building or pest problems before you buy.
  • If you are buying before you sell have the contract for sale for your existing property ready. If you are the successful bidder and you need to sell your existing property time will be of the essence and you need to move quickly to list your property for sale. By law a real estate agent cannot show a property unless they hold a contract of sale. By having your solicitor prepare the contract you will lose no time it getting your place to the market.
  • Have a Real Estate Agent lined up ready to put your property in the market. Again as time is of the essence to sell your current property by having already decided upon the real estate agent you want to sell your property you will save time. A good agent will be able to arrange photos and have your property listed in a day or two. They may already have people to show through which will give you confidence for a sale.
  • Have your house prepared for sale. I cannot stress enough the importance of being prepared to list your current property as soon as you have purchase. Now is not the time to think about decluttering, fixing the gutter, cleaning the carpet etc. you want your house to be ready to show to potential buyers immediately. Have all the jobs that needed to be completed done so you can attract that potential buyer.

As you can see they are many things to consider when buying property at auction. I hope you have found this information useful and if you have any questions that I may not have covered please contact me Kim Wight, Mortgage Broker Sydney at this web page or at

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Fascinating Property Information On House Prices In Australia

Here is some some fascinating property information supplied to us from RP Data.

We have constructed the following two tables from this data so you can quickly see how the entire country is performing.

fascinating property information on houses prices in AustraliaInteresting points:

  1. Melbourne has more dwellings than Sydney (NSW has a more decentralised population).
  2. Melbourne residents hold on to their houses for the longest term (11.8 years), Darwin has the shortest term (7.1 years).
  3. Perth and Brisbane have the highest percentage of their dwellings on the market whilst Canberra has the lowest.
  4. Houses in Sydney sell the quickest with just 49 days as the average “on market” period.
  5. Melbourne had more house sales than Sydney over the last 12 months.


fascinating property information on houses prices in Australia

More interesting points:

  1. The gap between the highest Median house price (Sydney $800,000) and the lowest (Hobart $350,000) is a whopping $550,000.
  2. Rental yields for Sydney and Melbourne are now well below 4%.
  3. The difference between Sydney’s average annual growth rate over 10 years (4.9%) and Melbourne’s result (5.8%) is surprising given Sydney’s recent boom.
  4. Despite extremely solid growth over 10 years, Darwin’s rental yield of 5.8% is very high.
  5. Although Perth’s 12 month median price growth is low, the rental yield is still reasonably strong at 4.3%.
  6. Brisbane’s rental yield is a full 1% p.a. higher than Sydney whilst the median house price is 39.4% lower.

As always , if you are interested in buying an investment property, please contact me Kim Wight, Mortgage Broker Sydney . It is more important than ever that mortgage advice is the first step in the process. 



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House Prices In Sydney

Everyone is talking about House Prices in Sydney and I encourage everyone that owns a home in Sydney to have a quick look at this “Domain” calculator.

This is a bit of fun and a pretty good way to quantify the wealth that house price increases are creating.

I have used Concord as an example and the median (or middle) house has increased in value by $464 per day over the last 12 months.

Click this link to see how your suburb has fared.

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House Prices in Sydney


Don’t forget, these price rises are often creating more equity. Borrowers with more equity are often eligible for greater interest rate discounts.

Give me a call, Kim Wight Mortgage Broker Sydney,  to see if this applies to you.

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How much should you invest to improve an Asset? I see examples of over-capitalisation every day.

Cafe owners that spend $100,000 on a shop fit-out that would need to generate 100,000 more coffee sales to break even.

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Car enthusiasts that spend $50,000 on a $10,000 (second hand) car and end up selling it for $15,000.

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Kitchen renovators that import $50,000 worth of marble from Italy for a house worth $600,000.

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These are all cases where someone has invested more into an asset than they would ever get if they sold that improved asset.

The following unfortunate example is a real scenario:

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Research is the key to avoiding over-capitalisation of a property. This is where I can greatly assist.

I  offer my  clients access to research tools (at no cost) that are usually only available to real estate agents, valuers and property analysts.

One tool that I  have found absolutely invaluable is:

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The “professionals” version of this system is what most real estate agents use to appraise your property. I have access to every property sale amount since the early 80s (see small example below).

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This information above is just the tip of the iceberg.

Please make sure you do your research the next time you are buying, selling, renovating or building. You need this information.

If you would like a report on your own property or a property your are considering buying , please contact me Kim Wight Mortgage Broker Sydney 



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In this day and age there are so many property gurus and property reports available all claiming to have the latest and best information.

Do you remember buying a whole album because you liked a few songs? I  find the same phenomenon happens with property reports.

Nearly every property report contains some valuable insights but it is a very rare occasion when the whole report is worthy of acclaim.

As you know, I receive and purchase numerous property reports so that I can pass on some of that knowledge to our clients.

 The following summary is a compilation from two key reports:

1. 9.7% of Australian properties resold over the final quarter of 2013 sold at a loss, down from 12.6% of sales a year earlier (RP Data).

2. Across the combined capital cities, 6.5% of sales were at a loss compared to 9.8% a year previous (RP Data).

3. The total value of these losses nationally was $457 Million, meanwhile $15.2 BILLION in profit was realised over the quarter (RP Data).

4. 71% of potential first home buyers think the Australian dream of owning your own home is realistic, up from 67% in September 2013 (Genworth).

5. 42% of Australians believe now is a good time to buy a home. However, well over half of the existing property investors believe that now is a good time to buy (Genworth).

6. The average hold period of loss making sales was 5.3 years, while the average hold period of profit making sales was 9.9 years (RP Data).

7. The regions with the highest proportion of loss making re-sales were: Regional Qld (23.7%), Regional WA (19.3%), Regional Tas (18.0%) (RP Data).

8. The regions with the lowest proportion of loss making re-sales were: Sydney (3.6%), Perth (4.3%), Melbourne (6.0%) (RP Data).

9. The reading of consumer confidence fell for the fourth consecutive month and moved below the 100 mark where optimists and pessimists are equally balanced. With a reading of 99.5, the index is virtually at a neutral setting (RP Data)

 As always, if you would like to discuss any of the above information, or are looking for home loan advice please contact me Kim Wight Mortgage Broker Sydney on 9594 5722. 

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Every year we look forward to the release of the BIS Shrapnel “Australian Housing Outlook” report. This report has built up a solid reputation for predicting the future value of property.

QBE Lenders Mortgage Insurance” commissioned this report which lends a great deal of credibility to the analysis. QBE LMI are the second biggest mortgage insurer in Australia and they have a lot riding on the accuracy of the BIS Shrapnel analysis.

The report itself is 45 pages long, however, we have summarised the capital city predictions for your convenience in the table below. If you are looking to purchase a property in 2014 we strongly recommend that you read the full report.

mortgage broker Sydney kim Wight

 As always, please give contant me Kim Wight Mortgage Broker Syndey on 02 9594 5722 or email me at  if you would like to discuss your finance or investment options.

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One of the most important measures of a property’s value is the amount of rental income that it can generate.

A good way to determine if a particular property is generating strong rental income is by looking at the rental yield.

 Here is an example of a rental yield calculation (based on the December 2013 RP Data Property update) below:

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a) The median rent for a unit in Brisbane is currently $409 per week. This equates to $21,268 over a year.

b) The value of this property is $386,690.

c) $21,268 in annual rent is 5.50% of the $386,690 property value. 5.50% p.a. is the Rental Yield.

What makes this current market so enticing for investors is that rental income is often higher than the interest cost of the mortgage.

 Take the above example in Brisbane.

a) A person takes out a home loan for $367,355 to purchase a unit for $386,690 (the home loan is 95% of the unit’s purchase price).

b) The annual interest only payment on this loan with a 3 year fixed rate of 4.89% p.a. is $17,963.

c) The current annual rental income for this property would be $21,268. You do the math.

There are of course other risks, costs and benefits associated with owning an investment property, however, this situation where mortgage interest expense is less than rental income is quite rare.

Now you can see why people are so keen to invest. If an investment property has little impact on your weekly budget then it can be an attractive proposition.

If you would like to conduct a more thorough review of your investment options contact me Kim Wight Mortgae Broker  Sydney  on 02 9594 5722 or email me at

 Note: Don’t forget your Superannuation savings. If it makes sense for you to set up a self managed superannuation fund then buying an investment property could be well within your reach.


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Saving for a home loanAs a Mortgage Broker in Sydney I am asked by many first home buyers’ tips on saving for a Home Loan deposit.  Many find it really hard to get into a savings pattern and I agree it is difficult but the reward is worth the pain of planning and doing without in order to achieve the Australian dream of home ownership.

Here is the advice I give to my clients.

Set a Goal Amount

The first step is to know how much you need to save. If you are buying a property for $400,000 you will need 10% deposit, $40,000. This amount should be enough to give you the minimum deposit required by the lenders and cover your solicitor’s fee and stamp duty.  Lenders Mortgage insurance will also be payable if you are borrow more than 80% of the property purchase price but we will talk about this later in this e book.

Set A Plan For Saving for A Home Loan

Decide how much you can save each month.  Remember   what you are trying to achieve, owning your own home, and decide how much you really want it. What are you prepared to give up to save more money?  Things to consider are things like restaurant meals, gym membership, holidays away, buying lunches when you can take leftovers from home, if you smoke give it up and save the money and the list can go on and on. Only you know what you can change in your lifestyle to save money.  Remember this is not forever just until you achieve your dream of home ownership.

If possible have the amount you want to save deducted from you wages and have it paid into an account that you will not use for everyday use.  By having an account with the sole purpose of saving for a home loan deposit you will have the ‘’buzz” of seeing the balance grow and grow getting you closer to your goal.

Set a Timeframe

Commit to a date that you want to have the deposit saved and apply for a home loan.  This date needs to be realistic. It is no use setting it for 4 months’ time if you do not have the income to achieve that time frame.  By setting dates you will be more focused on reaching your savings goal and know there is an end date to some of the personal sacrifices you are making to save the deposit.

Next Step

Once you have saved the deposit we can then look at your home loans options and discuss your personal circumstances to make sure you have a home loan that fits in with your future plans.

If you want to discuss your plans for home ownership give me a call Kim Wight Mortgage Broker Sydney on 02 95 94 5722. 

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The Australian population is BOOMING

RP Data regularly publish a property blog and their most recent effort covered the impact of migration on this market. I have summarised this blog to save you time. The Australia population is BOOMING.

1. NSW is leaking like a sieve to QLD and WA. However, it is important to note that this net loss of 18,448 people for NSW is well below the 10 year average loss which sits at around 30,000 per annum.

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2. During the decade that preceded the softening of the QLD property market in 2010, 90% of NSW departures headed north across the border. QLD’s share of the NSW bounty has now halved because WA has muscled in on the action.

3. Interstate migration is hotly sought after by State Governments because Australians are very quick to economically integrate and nearly always offer relatively high levels of skill and education.

4. The housing construction industry is one of the main beneficiaries of both interstate and overseas migration. Approximately 300+ new dwellings need to be constructed for every new 1000 migrants.

5. The chart below shows how quickly the Australian population is currently growing as a result of overseas migration. If you add WA’s interstate and overseas numbers together you can see why they have a housing construction boom under way. WA currently need to build approximately 80 new homes every single working day. Interestingly, QLD is not far behind.

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6. Whilst NSW has a relatively low net migration result of just 41,000 new people per annum, this state is not well placed to meet the demand for new housing that this will create. The short supply and growing demand should at the very least continue to support current home prices.

7. I  have always held the belief that Australians migrate to other states for two primary reasons, jobs and housing. Whilst QLD property prices are relatively attractive to their southern neighbours, the jobs market is not so great. WA on the other hand is a terrific jobs market but the rising cost of housing could be a dampener.

Australia’s population has grown by 370,000 people over the last 12 months (1000 per day) and we are about to break through the 23 million mark. This rate of growth (particularly in Sydney, Melbourne, Brisbane and Perth) will see the housing construction market placed under considerable supply pressure. It will be very interesting to see the impact on house prices that this situation will deliver.

If you have any questions  on this or home loans please contact me Kim Wight Mortgage Broker Sydney at 


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