Quick Post - What we are seeing in the Market right now

We seem to be in a 2 tiered market right now:

Under $1m - populated by first home buyers, and investors who have had to reduce their budget.

This part of the market remains strong. Last weekend we even had clients attend an auction that went well above expectations around the $900k mark with multiple bidders. We have lots of first home buyers who are forging ahead with the 5% deposit scheme, having reached their goal of saving 5%. So dont listen to all the media doom and gloom.

Melbourne seems to be performing relatively better than elsewhere with Melbourne prices being roughly 40% cheaper than Sydney.

Above $1m:

A general broad 5% (depends where) correction, with large variability. A bit of a Mexican stand off between sellers and buyers. The winner is the person who wants to buy or sell the least. Hit and miss.

Investors largely absent.

Rural and Regional

Still fairly robust with a slight softening.

Of course there are regions within regions. There is never a bad time to move out of the city and follow your acreage dreams if you ask me.

SMSF Residential Borrowing

There is still a small window for borrowing to purchase residential property in your SMSF. Note however the lenders in the space have basically shut their books to new applications, so effectively this is off the table now.

Thinking about a refinance?

If you think property prices will continue to be weaker, better to lock in that extra equity now whilst you can get a better valuation, even if you dont use it.

Want to chat about anything property or finance related?

Look forward to your email at [email protected] or call me 0403397060 or book in:

No Snow - No Problem

We often go through snow seasons where June has no natural snow, but cold nights save us with snow making keeping the slopes open. Unfortunately this June has been exceptionally warm. For the 2nd time in over 70 years Spencers Creek has zero snow at the end of June. Its very busy in town as noone is up the hill and I am watching the rain hit my office window. But as we locals know, there is SO MUCH ELSE TO DO IN THE SNOWIES.

Click here for awesome things to do whilst you are waiting for the white stuff to fall (maybe this Friday):

Get Your Financial Plan in Place

We’re in the Snowy Mountains, Wagga Canberra and Tamworth this Month

Want to discuss your financial needs? Lets catch up in person or via Zoom

That’s it for this week.

Keep showing up and keep cheering each other on — life is better when we support each other.

Reggie and the Thunderbolt Team