The good news for investors
With house prices coming down throughout the country , it could be a good time to purchase . On top of this , rents have jumped by 17.6 per cent for units and 14.6 per cent for houses over the last year , according to Domain . At the same time , the number of rental properties that are vacant is at an all-time low . This presents an opportunity for investors who may be able to find more positive yields .
What does it mean for refinancing ?
If the value of your home has decreased , it will impact your equity . However , if you ’ ve continued to pay down your principal , this impact will be mitigated . On top of that , while housing values have declined over the last year , they ’ ve not yet surpassed the boom in values during the pandemic , which peaked in March last year . According to Proptrack data , prices nationally are still 28.5 per cent above their pre-pandemic levels . This means the amount your equity will have been impacted will depend on when you purchased the property . If it was pre-pandemic , your home is likely to still be worth more today than when you bought it . Regardless , if your interest rate has increased and you haven ’ t refinanced in the last year , reach out to your Loan Market broker to see if you could be on a better loan .
The information provided on this site is on the understanding that it is for illustrative and discussion purposes only . Whilst all care and attention is taken in its preparation any party seeking to rely on its content or otherwise should make their own enquiries and research to ensure its relevance to your specific personal and business requirements and circumstances . Terms , conditions , fees and charges may apply . Normal lending criteria apply . Rates subject to change . Approved applicants only .
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