The housing rally is by no means just an Australian issue. Globally, the mixed outlook on inflation data is the only thing holding back rising interest rates as post-Covid recovery kicks off. Starting over the Tasman with New Zealand, central banks everywhere are either tightening, or talking about tightening, monetary policy.
While it’s still very much a sellers market here, the potential for buyers having more restricted borrowing at their fingertips is increasing. It’s likely that regulators are hoping that by flagging their intention to tighten policy, they’ll persuade the market to be more cautious.
https://www.smh.com.au/politics/federal/regulators-poised-to-intervene-in-sydney-melbourne-property-boom-20210929-p58vms.html
However, history has shown that it is more likely that borrowers will try to get loans approved ahead of any tightening! Such is human nature…
So, if you’re selling…it may be worth getting a wriggle on, and if you’re buying, apply some sensible criteria to the debt you’re looking to take on, just in case your bank decides to do it for you.
https://www.smh.com.au/business/banking-and-finance/apra-unveils-loan-curbs-for-new-customers-as-housing-risks-grow-20211006-p58xlt.html
We’re quite enjoying Daylight Saving so far…the early morning sun not hitting quite so early…and slightly longer evenings, perfect over the past week for early evening picnics, which we’ve noticed has been increasingly popular – and fun – even with Covid appropriate numbers and social distancing!
Locals will know this, but there are currently very low low tides, meaning that the late afternoons this week have revealed vast areas on the beaches. The beach and headland between Mona Vale and Warriewood has been a ‘through walk’ this week, definitely worth a trip to see – if you have the time. There’s some amazing geology to see on the headland, but do check the tide times – to avoid a much longer walk back!
As we head toward the ‘Great Reopening’ with greater freedoms for the double-vaxxed, there are signs and hopes that we’ll be getting back to normal. Or maybe a ‘new’ normal? We’ll be remaining Covid compliant here at SHORES, which at present still means one-on-one home opens, requiring prior appointments. This may change – but for now, please note: masks and pre-registration is still required…
We’re rolling out some ripper listings this coming week… stay tuned!
LIGHT AT THE END OF THE TUNNEL…
