Barry Plant Croydon Blog

Australia is building momentum, and property markets will staystable

croydon — Mon, 06 Feb 2012 02:41:39 +0000

This Tuesday we have our first Reserve Bank of Australia meeting for 2012, where it would come as no great surprise if the bank leaves the cash rate at 4.25%. The RBA is well aware that Australian banks’ funding is under great pressure as a result of the global financial crisis to the extent that our banks have already forewarned that if the cash rate is reduced it is highly unlikely they will pass on such cuts.

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Housing market sentiment up in December quarter, with NSWbrightest: NAB

croydon — Wed, 01 Feb 2012 02:34:16 +0000

Housing market sentiment improved in the December quarter, with market participants now forecasting a modest 0.4% drop in house prices over 2012 compared with expectations of a 1% annual decline in the September quarter, according to NAB’s Quarterly Australian Residential Property Survey.

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Can home loans be as simple as airfares to compare?

croydon — Mon, 23 Jan 2012 02:34:05 +0000

When people talk about competition, they normally focus on the number of companies competing for your business. As anyone who’s ever flown to a destination that was historically only served by Qantas, and then has Virgin or Tiger starting up, as a general rule you’ll understand that more players generally makes for a more competitive environment.

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Best Wishes For The Festive Season!

croydon — Fri, 23 Dec 2011 03:48:39 +0000

Everyone at Barry Plant Croydon would like to wish all of our clients a wonderful festive season & a safe & happy New Year.

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Industry Market Wrap

croydon — Fri, 16 Dec 2011 05:05:18 +0000

The ABS released housing finance data for October 2011 this week. The data showed that the volume of owner occupier housing finance commitments excluding refinances increased for the eight successive months and has risen by 1.2% over the past 12 months. The successive increases in owner occupier finance commitments is somewhat encouraging for the housing market however, refinances continue to dominate the landscape, rising by 17.8% over the year however, they did fall by -1.8% in October.

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Why House Prices Should Recover in 2012. By Craig James

croydon — Thu, 15 Dec 2011 07:16:52 +0000

The housing market is constantly in a tug-o-war between two factors — demand and supply. And really it doesn’t get simpler than that. If there is a limited number of properties for sale and plenty of keen, cashed-up buyers then prices are almost certainly going to be bid up. Similarly if there is an abundance of property on the market and buyers are cautious — preferring to take time to find the ‘right’ home — then prices are more likely to ease.

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Reserve Bank Interest Rate Announcement

croydon — Tue, 06 Dec 2011 03:55:26 +0000

The Reserve Bank has cut interest rates by 0.25 per cent.

The 25 basis point fall comes on the back of a similar cut last month. The reduction is good news for people paying off a mortgage. "This will put an extra $60 into the pockets of borrowers each month," says Domain property expert Carolyn Boyd.

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Housing is as affordable as the 80′s!

croydon — Thu, 01 Dec 2011 00:19:18 +0000

Contrary to popular belief, property prices in Australia over the past 30 years have only grown in line with rising incomes and lower interest rates, a prominent property economist has claimed.

Head of property research at ANZ Bank, Paul Braddick, said today’s purchasing power was equal to the actual cost of the average home (including mortgage payments), as it was during the mid-1980s.

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House prices 25% overvalued: The Economist

croydon — Sun, 27 Nov 2011 23:25:04 +0000

Australian house prices could plunge by as much as 25 per cent on the back of a global credit crunch caused by the European meltdown, The Economist magazine predicts.

In a dire warning for Australia and other developed countries, The Economist says global house price indicators suggest property was still overvalued.

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Rate cut has lifted buyer confidence

croydon — Mon, 21 Nov 2011 01:51:05 +0000

THIS month’s interest rate cut is yet to have a noticeable effect on auction clearance rates but it has given buyer confidence a boost, say agents.

Many are reporting a positive change in buyer sentiment, which will be put to the test this coming weekend, when more than 1000 auctions are scheduled.

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