Residential property reactions are changing.
Thursday 08 Dec 2016
The more things change the more they stay the same. It is a common phrase but for the Sydney property market I think at the moment it should really be; the more things stay the same, the more they change! Key economic indicators are remaining steady but the market reaction in terms of residential property is changing.
Officially interest rates remain on hold. That came as no real surprise but commentators have begun speculating at the potential impact of major banks choosing to increase rates that apply to specific types of loans including interest-only loans and investor loans.
Of course rates cannot remain at record low levels forever. Of course the current low rate environment facilitates the property market as buyers seek access to lower cost finance. But I question the traditional expectation that the prospect of rates rising will automatically dampen market activity.
Our team at Dimension Finance report their clients are increasingly savvy. Just as they search extensively for a perfect property, buyers are also prepared to search the market for the loan that is perfect for them.
The reality is there is a huge number of finance options out there and identifying the right option can be both time consuming and a little daunting. But picking the right finance option is as important as picking the right property. The Morton Dimension Finance team has access to a wide variety of lenders and their aim is to take the hassle out of finding the right option for their clients.
Our Sales Agents know picking the right finance option can also make a real difference to the success of a property purchase and together with Dimension Finance and our award-winning Property Management team I am incredibly proud that Morton has the right experts in place to provide our clients with full service support to help facilitate a stress-free property purchase.
And so it is that even with the prospect that rates may rise in 2017 we are not seeing buyers shy away from the market now. They are conscious of the prospect of a rate move and working with the Dimension team to identify the finance option that will match their requirements now and into the future.