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Location may be a big driver of property prices, but in any given suburb a few streets can be all that separates paying top dollar for a home or potentially scoring a bargain. Here is how to use a tool to find pockets of value in any given neighbourhood. 

Each suburb has its own median house prices, and sites like realestate.com.au can provide a useful guide to median values for a particular postcode. However, the median is obviously only the middle point in each suburb’s dataset, and it’s common for prices to vary widely across a single suburb. Fortunately, there is an easy online tool that can help you identify more affordable pockets in the suburbs you are looking to buy in.

Interactive price tool

PropTrack has developed an interactive property price tool that reveals the median values across different parts of each suburb. The price differences can be surprising. 

For example, in Beecroft, on Sydney’s North Shore, the median house price is about $2.4 million. But as PropTrack’s price tool shows, in certain parts of Beecroft,  the median rises to more than $2.8 million, but several streets away, the figure is closer to $2.2. million. There is a reason for the $600,000 difference. The most affordable parts of the neighbourhood lie adjacent to the M2 Hills Motorway. 

It is a similar story in Melbourne’s popular inner suburb of Fitzroy North. Known for its character-filled terrace houses, Fitzroy North has a median house value of $1.6 million. But if you want to live near Edinburgh Gardens, the suburb’s attractive parkland, be prepared to pay closer to $3 million. 

In Brisbane’s Fortitude Valley, the trendy James Street Market side of James Street has a median house price of $3 million, whereas, across the road towards Brunswick Street, there is a median house price of under $1.9 million. 

These price differences are not unusual. According to a PropTrack analysis, home buyers can typically save around $365,000 by buying in the most affordable areas of a suburb. In some neighbourhoods though, the price gap becomes more of a chasm.

In the Perth suburb of Subiaco, for instance, several pockets of homes have median values topping $2 million. Head just around the corner to Subiaco Oval and the surrounding homes are priced closer to $840,000.

What to watch with bargain buys

By this stage, you have probably noticed a trend. Nearby features can have a real impact, good and bad, on surrounding property values. 

Access to the beach, great views or a local park, can push property values higher. On the other hand, homes bordering a 6-lan highway or nearby industrial estate can offer bargain buying – as long as you are prepared to live with whatever is keeping the price lower. 

And then there may be not-so-obvious factors such as flood zones or upcoming changes to council zoning, so it is worth doing your research. After all, there is a lot you can do to renovate a home, but you can’t change the location. 

Seizing opportunities

Pricing differences within suburbs can offer opportunities to save. A single street can be all that separates an expensive home from its more affordable neighbour. Buying in the cheaper neighbourhood lets you enjoy all the amenities of the more expensive postcode, without the higher price tag.

It is also worth keeping tabs on any planned local developments that could have the potential to transform today’s ugly duckling pocket into tomorrow’s upmarket enclave. 

Thinking of buying? Call us to understand your borrowing power – it will help let you know where you can afford to buy.

Phone: 1300 855 022
Email: clientservices@zippyfinancial.com.au


Zippy Financial is an award-winning mortgage brokerage specialising in home loans, property investment, commercial lending, and vehicle & asset finance. Whether you are looking to buy your first home, refinance or build your property investment portfolio, the team at Zippy Financial can help find and secure the right loan for you and your business.

About the Author:   

Louisa Sanghera is an award-winning mortgage broker and Director at Zippy Financial. Louisa founded Zippy Financial with the goal of helping clients grow their wealth through smart property and business financing. Louisa utilises her expert financial knowledge, vision for exceptional customer service and passion for property to help her clients achieve their lifestyle and financial goals. Louisa is an experienced speaker, financial commentator, mortgage broker industry representative and small business advocate.   

Connect with Louisa on Linkedin.   

Louisa Sanghera is a Credit Representative (437236) of Mortgage Specialists Pty Ltd (Australian Credit Licence No. 387025).

Disclaimer:This article contains information that is general in nature. It does not take into account the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. This article is not to be used in place of professional advice, whether business, health or financial. 

Applying for a mortgage when you are self-employed can have you jumping through more hoops, but it does not need to deter you from getting into the property market. Here are 4 tips to help you apply for a mortgage like a boss. 

Being your own boss does have its advantages: the flexibility of setting your own hours, building your own business to represent your values, having someone else get you a coffee… but when it comes to home loans, you may have more to prove than the average applicant. 

Lenders may view you as a little more risky. That is because, in their eyes, you may not have a steady paycheck to make those all-important repayments. But being self-employed does not need to stop you from getting your slide of the great Australian dream. Planning ahead and knowing what lenders generally look for could give you an edge when it comes to mortgage application success. 

Get your finances in order

As a self-employed applicant, having rock-solid finances is important. Even if your business is booming, most lenders will see you as more of a risk for defaulting. That is because self-employed incomes can be less consistent. 

Lenders want to know if the likelihood of making regular payments is high. To mitigate risk, loan options available to you may have a lower loan-to-value ratio (meaning you may need a higher deposit) and/or have a higher interest rate. 

To prepare to apply, consider getting your finances in check by:

Gather your documents

It is important to keep your business and personal finance documents up to date. For verification of income, many lenders need two years’ worth of lodged business and personal tax returns. 

It is a great idea to tell your accountant in advance that you are planning on applying for a home loan. That is because some of the financial wizardry they apply to lower your tax bill might work against your application and lower your borrowing capacity. Also, keep in mind that business owners who do lots of “cash jobs” can find it harder to obtain a home loan because they have less income to show for their work. 

On top of running your credit score, some lenders may want statements from loans and credit cards for proof you can make regular repayments. They may also want to see verification of assets such as any property, savings, and investments. 

Some lenders may want to see everything when applying for a loan and some may need less. Some offer low-doc loans if you don’t have extensive documentation, but they may come with higher interest rates or the need to pay lenders mortgage insurance (or both). 

Exactly what documents are required depends on the lender and the type of loan. 

Choose your lender wisely

Not all lenders are comfortable providing self-employed loans for the reasons mentioned above. And every time you apply for a home loan your credit history is “pinged”. The more this occurs, the more of a red flag this may pose to lenders. 

So, targeting lenders that have a track record of approving self-employed loans might be a wise move. 

Having a reputable mortgage professional on your side may be helpful here. 

Get in touch with us today

Just as you will want to give your accountant plenty of notice, so too will you want to reach out to a mortgage broker sooner rather than later. That is because we can help you work out your borrowing capacity and provide you with other tips that you can start working on that may eventually help make your application more attractive to lenders. 

If you are self-employed and think you will be seeking a home loan in 2024, get in touch today! 

Phone: 1300 855 022
Email: clientservices@zippyfinancial.com.au


Zippy Financial is an award-winning mortgage brokerage specialising in home loans, property investment, commercial lending, and vehicle & asset finance. Whether you are looking to buy your first home, refinance or build your property investment portfolio, the team at Zippy Financial can help find and secure the right loan for you and your business.

About the Author:   

Louisa Sanghera is an award-winning mortgage broker and Director at Zippy Financial. Louisa founded Zippy Financial with the goal of helping clients grow their wealth through smart property and business financing. Louisa utilises her expert financial knowledge, vision for exceptional customer service and passion for property to help her clients achieve their lifestyle and financial goals. Louisa is an experienced speaker, financial commentator, mortgage broker industry representative and small business advocate.   

Connect with Louisa on Linkedin.   

Louisa Sanghera is a Credit Representative (437236) of Mortgage Specialists Pty Ltd (Australian Credit Licence No. 387025).

Disclaimer:This article contains information that is general in nature. It does not take into account the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. This article is not to be used in place of professional advice, whether business, health or financial. 

It is commonly known that the bigger your deposit, the smaller your home loan and therefore the lower your monthly repayments. Today we will investigate another way your deposit size could reduce your repayments: by potentially reducing your interest rate. 

A question we are commonly asked is “How can I get a lower interest rate?”

There is no straightforward answer to this one as it usually depends on a myriad of factors, including whether lenders see you as high risk or low risk, the competition in the market at the time and how big your deposit is, or more technically, your ‘loan to value’ (LVR) ratio. 

What is LVR?

LVR refers to how much of your home’s value you are borrowing. 

If you plan to buy a home priced at $600,000 using a deposit of $120,000, you will need to borrow $480,000 or 80% of the property’s value. For lenders, this means you will have an LVR of 80%. 

Why does this matter? Well, a bigger deposit lowers your LVR. This in turn helps reduce the risk you represent to a lender. A loan with an LVR of 80% may be seen as less risky than one with an LVR of 90%. 

As a general rule, lenders tend to reward borrowers for that reduction in risk with a lower home loan interest rate. 

But note: these figures do not include stamp duty and other up-front costs, which you may also need to budget for. 

Average interest rates by LVR

Mozo checked out the average variable rates for different LVRs. As you can see below, for home loans with an LVR of 95%, meaning a 5% deposit, the average variable rate is about 7.38%. Borrowers who can pull together a slightly bigger deposit may see their rate fall. As a guide, on an LVR of 90% (deposit of 10%), the average variable rate falls to 7.13%. That is a potential rate raving of 0.25%. This may not sound like much, but along with lowering your monthly repayments, a lower rate could mean paying less interest charges over the life of your loan. 

How your LVR can see you save in other ways

Your LVR doesn’t just shape the rate you are likely to pay. 

If you have a small deposit, usually less than 20%, you could be asked to pay lenders mortgage insurance (LMI). This type of cover protects the lender if you can’t keep up your loan repayments. LMI can be a substantial up-front cost. 

There are options for first-home buyers with a small deposit to avoid this expense. For example, the First Home Guarantee Scheme allows eligible buyers to purchase a first home with just a 5% deposit and no LMI.

What if I am refinancing my home loan?

If you are refinancing your mortgage, your LVR will be shaped by home equity. The same basic rule applies. The more equity you have in your place, the smaller the loan you may need. This may help lenders see you as a lower risk (all other things being equal), so chances are you may be offered a lower rate.

How can we help?

With so many loans and lenders to choose from, home loan interest rates can vary widely, and your deposit or home equity can play a role in the rate you pay. But a variety of other factors come into play also.

That is why it is important to speak to us if you are buying a first home, your next home, or refinancing. We can help you find a home loan that’s suited to your needs at a competitive rate in line with your LVR and any other contributing factors.

Phone: 1300 855 022
Email: clientservices@zippyfinancial.com.au


Zippy Financial is an award-winning mortgage brokerage specialising in home loans, property investment, commercial lending, and vehicle & asset finance. Whether you are looking to buy your first home, refinance or build your property investment portfolio, the team at Zippy Financial can help find and secure the right loan for you and your business.

About the Author:   

Louisa Sanghera is an award-winning mortgage broker and Director at Zippy Financial. Louisa founded Zippy Financial with the goal of helping clients grow their wealth through smart property and business financing. Louisa utilises her expert financial knowledge, vision for exceptional customer service and passion for property to help her clients achieve their lifestyle and financial goals. Louisa is an experienced speaker, financial commentator, mortgage broker industry representative and small business advocate.   

Connect with Louisa on Linkedin.   

Louisa Sanghera is a Credit Representative (437236) of Mortgage Specialists Pty Ltd (Australian Credit Licence No. 387025).

Disclaimer:This article contains information that is general in nature. It does not take into account the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. This article is not to be used in place of professional advice, whether business, health or financial. 

Family Finance: Building Financial Health Across Generations

Parental Gurantee

In today’s ever-changing economic landscape, maintaining good financial health is a crucial goal for families. It’s not just about managing money; it’s about building a foundation of financial health management that benefits every family member, from the youngest to the oldest. This comprehensive approach ensures stability and prosperity across generations.

The Evolving Landscape of Family Finance 

Family finance has undergone significant changes due to factors like technological advancements, economic fluctuations, and evolving family structures. These shifts have made it imperative for families to adapt their financial strategies to maintain financial health in a dynamic environment.

Strategies for Managing Family Finances 

Effective financial health management involves a range of strategies:

Budgeting and Saving:

Establishing a family budget and saving plan is fundamental. It helps in tracking expenses and setting aside funds for future needs.

Investing Wisely:

Investing is a key component of building wealth. Families should explore various investment options and choose those that align with their risk tolerance and long-term goals.

Debt Management:

Managing debt effectively ensures that it doesn’t hinder financial growth. This includes prioritizing high-interest debts and avoiding unnecessary borrowing.

The Role of Financial Education in Families 

Financial education is the cornerstone of good financial health. It’s essential to educate children and young adults about money management, savings, and the principles of investing. This education empowers them to make informed financial decisions in the future.

Preparing for Major Family Financial Milestones 

Life’s major milestones – such as higher education, home ownership, and retirement – require careful financial planning. Early and consistent saving can ease the financial burden associated with these significant events.

Navigating Financial Challenges as a Family 

Families often face financial challenges like unexpected expenses or economic downturns. Navigating these challenges successfully requires open communication about finances and a collaborative approach to problem-solving.

Legacy Planning and Wealth Transfer 

Legacy planning and wealth transfer are critical aspects of financial health. They involve making decisions about estate planning and ensuring that wealth is transferred to future generations in a way that supports their financial security and well-being.

Strategic Approaches for Financial Planning and Property Investment

  • Integrated Financial Planning: Legacy planning involves integrating financial planning, ensuring that estate decisions align with broader financial goals. Seek professional advice for a comprehensive plan considering property investments in wealth transfer. 
  • Property Investment Strategies: Explore real estate as a strategic component of legacy planning. Professionals provide insights into property choices, potential returns, and the role of real estate in preserving and enhancing generational wealth.
  • Wealth Preservation through Real Estate: Consider property investment’s role in wealth preservation. Professionals guide decisions on property management and leveraging real estate assets for long-term financial security.

Ensuring Smooth Wealth Transfer

  • Estate Planning Guidance: Professionals offer guidance on effective estate planning, structuring assets, and ensuring seamless wealth transfer, incorporating property investments.
  • Intergenerational Property Strategies: Explore strategies for smooth transfer of real estate assets, aligning with the financial well-being of future generations.
  • Incorporating Property in Legacy: Ensure property investments are seamlessly incorporated into your legacy plan, contributing to a lasting financial legacy for heirs.

Long-Term Financial Security

  • Strategic Property Portfolio Management: Professionals assist in managing a property portfolio aligned with legacy and wealth transfer goals, optimizing contributions to long-term financial security.
  • Balancing Risk and Returns: Achieve balance in property investment by mitigating risks while maximizing contributions to generational wealth.
  • Adapting Plans to Market Changes: Professionals guide in adapting legacy and wealth transfer plans to property market changes, ensuring resilience in dynamic economic conditions.

Utilizing Professional Financial Advice

Professional financial advisors, including expert mortgage brokers, play a vital role in helping families achieve and maintain financial health. They can provide personalized advice tailored to the family’s unique financial situation and goals.

Building and maintaining financial health is a continuous process that requires commitment and adaptability. By embracing a holistic approach to financial health management, families can ensure financial stability and prosperity for current and future generations.

Frequently Asked Questions

What is financial health and why is it important for families?

Financial health refers to the overall stability and well-being of a family’s financial situation. It’s important because it ensures long-term security, enables better handling of emergencies, and allows for future planning across generations.

How can families improve their financial health?

Families can improve their financial health by creating and sticking to a budget, saving regularly, investing wisely, managing debts effectively, and educating all family members about financial management.

What role does budgeting play in family financial health?

Budgeting is crucial as it helps track spending, identify areas for cost-saving, and ensures that the family lives within its means while saving for future goals.

Why is financial education important in families?

Financial education is key to building good financial health. It equips family members, especially children, with the knowledge to make informed financial decisions, understand the value of money, and develop responsible spending habits.

How important is investing for family financial health?

Investing is vital for family financial health as it helps in wealth accumulation and provides financial security. Diversifying investments can also protect the family’s finances from market volatility.

Can professional financial advice benefit family financial health?

Yes, professional financial advice can be extremely beneficial. Financial advisors can offer tailored advice based on the family’s financial situation and goals, helping to optimize their financial health.

Phone: 1300 855 022

Email: clientservices@zippyfinancial.com.au

Zippy Financial is an award-winning mortgage brokerage specialising in home loans, property investment, commercial lending, and vehicle & asset finance. Whether you are looking to buy your first home, refinance or build your property investment portfolio, the team at Zippy Financial can help find and secure the right loan for you and your business.

About the Author:   

Louisa Sanghera is an award-winning mortgage broker and Director at Zippy Financial. Louisa founded Zippy Financial with the goal of helping clients grow their wealth through smart property and business financing. Louisa utilises her expert financial knowledge, vision for exceptional customer service and passion for property to help her clients achieve their lifestyle and financial goals. Louisa is an experienced speaker, financial commentator, mortgage broker industry representative and small business advocate.   

Connect with Louisa on Linkedin.   

Louisa Sanghera is a Credit Representative (437236) of Mortgage Specialists Pty Ltd (Australian Credit Licence No. 387025).

Disclaimer:This article contains information that is general in nature. It does not take into account the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. This article is not to be used in place of professional advice, whether business, health or financial. 

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Crafting Your Holiday Budget: Navigating Finances During the Christmas Season

Parental Gurantee

Managing your finances during the festive season can be quite the juggling act, especially if you are planning a home purchase in the near future. With presents, gatherings, catering, and potential travel plans, it is easy for your savings to take a hit. So, how can you enjoy the holiday season without jeopardizing your bank balance or your goals for the upcoming year?

Australians are known for their generosity, and statistics from the annual Christmas Retail Trends Report by Monash Business School reveal the expected spending:

  • $427 on Christmas presents for immediate family
  • $246 for extended family
  • $149 for friends
  • $266 on self-indulgence

That is an approximate total of $1,000 per person, excluding additional costs associated with celebrations and catering.

The financial strain of Christmas can significantly impact individuals aiming to invest in property, especially given the ongoing cost-of-living challenges we face.

Nevertheless, there are strategies to safeguard your deposit for a property despite the seasonal expenses.

Tips for managing Christmas expenses:

Establish a budget:

Commit to a spending limit for gifts to avoid overspending.

Craft homemade gifts:

Consider gifting homemade delights like lasagne or baked goods instead of store-bought items.

Gift experiences:

Offer personalised experiences such as preparing a meal, providing babysitting services, organising a beach picnic, or arranging a movie outing. These can be more affordable than traditional gifts.

Skip gift exchanges:

Propose skipping the customary gift exchange this year among family members to save a substantial amount while focusing on your house deposit savings.

Embrace Secret Santa:

Participate in a Secret Santa exchange or even try a whimsical version where each person contributes the quirkiest gift they can think of.

While these strategies can help manage expenses during the holiday season, individuals planning to buy a home in 2024 should consider other financial aspects to ensure readiness.

In recent years, financial institutions have meticulously scrutinized bank statements during loan evaluations. Instances of ‘buy now, pay later’ debts, numerous subscriptions, frequent Uber trips, or consistent UberEats orders might indicate a challenge in managing finances efficiently. These conveniences often come with added costs that banks consider.

To prepare your financial statements for a home loan application, it is advisable to curtail spending on such discretionary items from now onwards.

If you are aiming to expedite the homebuying process or seeking to explore mortgage options, get in touch. We can uncover potential ways to save money and better align your finances with your aspirations.

Frequently Asked Questions

Why is it important to create a holiday budget?

Creating a holiday budget is crucial to manage your finances effectively during the Christmas season. It helps prevent overspending and ensures you can enjoy the festivities without financial stress.

How do I start crafting a holiday budget?

Begin by assessing your current financial situation, including your income, savings, and any upcoming expenses. Then, allocate a realistic amount that you can afford to spend on holiday activities and gifts.

What are the key expenses to include in a holiday budget?

Key expenses include gifts, decorations, festive meals, travel costs, and any holiday events or parties you plan to attend.

How can I avoid overspending during the holidays?

Avoid overspending by sticking to your budget, tracking your expenses, and being mindful of impulsive purchases. Prioritize your spending based on what’s most important to you and your family.

What if I don’t have enough savings for the holidays?

If your savings are limited, adjust your holiday plans to fit your budget. Consider less expensive gift options, host potluck dinners instead of elaborate meals, and enjoy free local events.

Is it a good idea to take a loan for holiday expenses?

Taking a loan for holiday expenses is generally not advisable. It’s better to adjust your holiday plans to fit your budget rather than incur debt.

Phone: 1300 855 022

Email: clientservices@zippyfinancial.com.au

Zippy Financial is an award-winning mortgage brokerage specialising in home loans, property investment, commercial lending, and vehicle & asset finance. Whether you are looking to buy your first home, refinance or build your property investment portfolio, the team at Zippy Financial can help find and secure the right loan for you and your business.

About the Author:   

Louisa Sanghera is an award-winning mortgage broker and Director at Zippy Financial. Louisa founded Zippy Financial with the goal of helping clients grow their wealth through smart property and business financing. Louisa utilises her expert financial knowledge, vision for exceptional customer service and passion for property to help her clients achieve their lifestyle and financial goals. Louisa is an experienced speaker, financial commentator, mortgage broker industry representative and small business advocate.   

Connect with Louisa on Linkedin.   

Louisa Sanghera is a Credit Representative (437236) of Mortgage Specialists Pty Ltd (Australian Credit Licence No. 387025).

Disclaimer:This article contains information that is general in nature. It does not take into account the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. This article is not to be used in place of professional advice, whether business, health or financial. 

RELATED ARTICLES 

SERVICE LOCATIONS

Modern Solutions to Housing Affordability: A Comprehensive Guide

Parental Gurantee

Housing affordability remains a critical issue in today’s economy. With rising property prices and changing market dynamics, finding affordable housing solutions has become more challenging than ever. This guide explores modern approaches to improving housing affordability, offering insights for policymakers, stakeholders, and potential homebuyers.

Current State of Housing Affordability 

The landscape of housing affordability in Australia is marked by increasing property prices and a competitive market. Factors such as low interest rates, urbanization, and demographic shifts have contributed to this trend, making affordable houses harder to come by for many Australians.

Revisiting Government Recommendations 

The original report presented to the federal parliament outlined 16 recommendations to tackle housing affordability. These ranged from tax reforms, such as replacing stamp duty with land tax, to innovative financing models like using superannuation for home loans. Assessing the implementation and impact of these recommendations is crucial in understanding their effectiveness.

Innovative Approaches to Housing Affordability 

Innovative solutions are key to addressing the housing affordability crisis. Sustainable urban planning that increases housing density in under-utilized areas, community housing projects, and leveraging technology for affordable housing development are some of the approaches gaining traction. These solutions aim to create a more inclusive housing market. 

The Role of Private Sector and Community Initiatives 

Private sector and community-led initiatives have shown promise in improving housing affordability. From developing affordable rental models to building community housing, these initiatives complement government efforts and provide practical solutions to housing challenges.

Policy Reforms and Future Directions 

Looking ahead, policy reforms play a pivotal role in shaping the future of housing affordability. This includes revising planning regulations, incentivizing affordable housing development, and exploring new funding models. Learning from successful international housing models can offer valuable insights for future policy directions.

Practical Tips for Homebuyers 

For individuals struggling with housing affordability, understanding the market and leveraging available resources is key. This includes taking advantage of government grants and schemes designed to help first-time buyers and those seeking affordable houses.

Call to Action for Policymakers and Stakeholders 

Addressing housing affordability requires a collaborative effort. Policymakers, industry stakeholders, and community organizations must work together to implement effective solutions. This collaborative approach is essential for creating a more balanced and accessible housing market. 

Collaborative Solutions for Affordable Housing 

  • Advocate for policy reforms like incentivizing affordable housing and streamlining approval processes. 
  • Encourage industry engagement in affordability solutions through innovative construction and sustainable practices. 
  • Highlight community organizations’ role in fostering initiatives like community land trusts and cooperative housing. 

Data-Driven Decision-Making  

  • Emphasize using data for effective housing policies, including analytics for identifying affordability challenges. 
  • Advocate for transparency in market trends through regular reporting on housing prices, rental rates, and demographics. 
  • Suggest involving experts in urban planning, economics, and housing development for valuable insights.

Public Awareness and Advocacy

  • Stress the importance of public awareness campaigns to educate citizens about housing challenges and solutions. 
  • Support community advocacy groups focused on affordable housing to ensure diverse voices are heard. 
  • Call for inclusive decision-making processes addressing unique challenges faced by different demographic groups. 

Monitoring and Adaptation

  • Advocate for regular assessment of policy impacts and data-driven adjustments for ongoing effectiveness. 
  • Emphasize flexibility in approaches to housing affordability based on changing conditions.
  • Encourage learning from successful case studies and best practices to inform future strategies.

Addressing housing affordability is a multifaceted challenge that demands a comprehensive approach. Incorporating modern solutions and fostering collaboration among stakeholders, including the expertise of mortgage brokers and financial planning, can pave the way for a future where affordable housing is accessible to all.

Frequently Asked Questions

What are the current trends in housing affordability?

Current trends include rising property prices, fluctuating interest rates, and evolving market dynamics, which have made finding affordable housing more challenging.

How can I stay informed about changes in the housing market?

Staying informed involves researching local market trends, following economic news, and possibly consulting with real estate professionals to understand the latest developments in housing affordability.

What innovative approaches can improve housing affordability?

Innovative approaches include sustainable urban planning to increase housing density, community housing projects, and leveraging technology to develop affordable housing solutions.

What policy reforms are needed to address housing affordability?

Policy reforms may include revising planning regulations, incentivizing affordable housing development, and exploring new funding models to effectively address housing affordability issues.

How can policymakers and stakeholders collaborate to improve housing affordability?

Collaboration involves joint efforts in implementing effective solutions, sharing resources, and fostering partnerships between government, private sector, and community organizations.

Where can I find resources for further reading on housing affordability?

Resources can be found through real estate websites, economic forums, government housing agencies, and financial advisory services.

Phone: 1300 855 022

Email: clientservices@zippyfinancial.com.au

Zippy Financial is an award-winning mortgage brokerage specialising in home loans, property investment, commercial lending, and vehicle & asset finance. Whether you are looking to buy your first home, refinance or build your property investment portfolio, the team at Zippy Financial can help find and secure the right loan for you and your business.

About the Author:   

Louisa Sanghera is an award-winning mortgage broker and Director at Zippy Financial. Louisa founded Zippy Financial with the goal of helping clients grow their wealth through smart property and business financing. Louisa utilises her expert financial knowledge, vision for exceptional customer service and passion for property to help her clients achieve their lifestyle and financial goals. Louisa is an experienced speaker, financial commentator, mortgage broker industry representative and small business advocate.   

Connect with Louisa on Linkedin.   

Louisa Sanghera is a Credit Representative (437236) of Mortgage Specialists Pty Ltd (Australian Credit Licence No. 387025).

Disclaimer:This article contains information that is general in nature. It does not take into account the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. This article is not to be used in place of professional advice, whether business, health or financial. 

RELATED ARTICLES 

SERVICE LOCATIONS

Property Buying in Today’s Market: Essential Tips and Insights

Parental Gurantee

Navigating the property buying landscape in today’s market requires more than just a keen eye for good deals. With fluctuating interest rates and evolving market dynamics, understanding the nuances of property buying has become crucial for anyone looking to invest in real estate.

Understanding the Current Property Market

The current property market presents a mix of challenges and opportunities. Global economic factors, local market conditions, and policy changes are reshaping the landscape of property buying. It’s essential for potential buyers to stay informed about these changes to make strategic decisions.

Updated Tips for Property Buying

Market Research:

Conduct thorough research to understand local market trends and property values. This knowledge is key to identifying the right time and place to buy properties.

Financial Preparation:

Assess your financial situation carefully. Understand your borrowing capacity and ensure you have a solid financial plan in place.

Consider Long-Term Goals:

Align your property buying decisions with your long-term financial goals. Whether it’s for investment or personal use, think about how the property fits into your broader financial strategy.

Financial Planning and Budgeting

Effective financial planning, with the assistance of a mortgage broker, is the backbone of successful property buying. Create a realistic budget that accounts for all potential expenses, including mortgage payments, taxes, and maintenance costs. Ensure you have a financial buffer to manage unexpected market changes.

Navigating a Buyer’s Market

In a buyer’s market, you have more room to negotiate. Use this to your advantage to secure better prices and terms. Be prepared to act quickly when you find the right opportunity, as market conditions can change rapidly.

Making the Most of Government Schemes and Incentives

Explore government schemes and incentives that can make buying property more accessible. These programs can offer significant savings and support, especially for first-time buyers or those looking for affordable housing options.

The Role of Professional Advice in Property Buying

Seeking professional advice can greatly enhance your property buying experience. Real estate experts and financial advisors can provide valuable insights, help you navigate the complexities of the market, and assist in making informed decisions.

The Ultimate Guide to Buying Property

Navigating the property investment journey involves a multi-step process that demands careful planning and execution. From initial research to closing the deal, each step should be approached with diligence and strategic thinking. Ensure you understand all legal and financial aspects of the transaction before finalizing your property investment.

Property buying in today’s market can be a rewarding venture if approached with the right knowledge and strategies. By staying informed and prepared, you can navigate the complexities of the market and make sound investment decisions.

Frequently Asked Questions

What should I research before buying property in today’s market?

Research local market trends, property values, and economic factors that can influence the real estate market. Understanding these aspects is crucial for making informed property buying decisions.

How important is financial preparation in property buying?

Financial preparation is critical. Assess your borrowing capacity, create a realistic budget, and ensure you have a financial buffer for unexpected expenses or market changes.

Should I align property buying with my long-term goals?

Yes, aligning your property purchase with long-term financial goals is essential, whether for investment or personal use. Consider how the property fits into your broader financial strategy.

How can government schemes and incentives aid in property buying?

Government schemes and incentives can provide financial support and savings, especially for first-time buyers or those seeking affordable housing. These can include tax benefits, grants, or low-interest loans.

How do I ensure I’m making a sound investment when buying property?

Ensure you’re making a sound investment by conducting thorough research, seeking professional advice, and considering factors like location, property condition, and market trends.

What financial aspects should I consider when buying property?

Consider mortgage options, interest rates, property taxes, insurance, and ongoing maintenance costs. Also, plan for potential changes in your financial situation or market conditions.

Phone: 1300 855 022

Email: clientservices@zippyfinancial.com.au

Zippy Financial is an award-winning mortgage brokerage specialising in home loans, property investment, commercial lending, and vehicle & asset finance. Whether you are looking to buy your first home, refinance or build your property investment portfolio, the team at Zippy Financial can help find and secure the right loan for you and your business.

About the Author:   

Louisa Sanghera is an award-winning mortgage broker and Director at Zippy Financial. Louisa founded Zippy Financial with the goal of helping clients grow their wealth through smart property and business financing. Louisa utilises her expert financial knowledge, vision for exceptional customer service and passion for property to help her clients achieve their lifestyle and financial goals. Louisa is an experienced speaker, financial commentator, mortgage broker industry representative and small business advocate.   

Connect with Louisa on Linkedin.   

Louisa Sanghera is a Credit Representative (437236) of Mortgage Specialists Pty Ltd (Australian Credit Licence No. 387025).

Disclaimer:This article contains information that is general in nature. It does not take into account the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. This article is not to be used in place of professional advice, whether business, health or financial. 

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Rental Crisis: Turning to Homeownership in Australia

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In the face of the escalating rental crisis in Australia, many are reevaluating their long-term housing strategies. With rental prices soaring and vacancy rates plummeting, the dream of homeownership is becoming more appealing and, for some, a necessary escape from the rental market’s volatility.

Current Rental Market Analysis 

The rental crisis Australia is currently experiencing is unprecedented. Factors contributing to this crisis include a surge in demand, limited housing supply, and economic pressures. These elements have combined to create a challenging environment for renters, with many facing increased rental costs and limited options.

Impact of the Rental Crisis on Homebuying Decisions 

The rental crisis is significantly influencing Australians’ decisions to buy homes. Faced with rising rents and uncertainty, the stability and financial benefits of homeownership are becoming increasingly attractive. For many, buying a home is not just a financial decision but also a move towards a more secure and controlled living situation.

Government Schemes and Incentives for Homebuyers 

In response to the rental crisis and the broader housing affordability issue, the Australian government has introduced several schemes and incentives to assist potential homebuyers. These include first-home buyer grants, stamp duty concessions, and low-deposit schemes, which are making homeownership more attainable for many Australians.

Financial Planning for Homeownership 

Transitioning from renting to owning a home requires careful financial planning. Prospective buyers should consider their long-term financial goals, assess their borrowing capacity, and plan for associated costs such as mortgage repayments, property taxes, and maintenance expenses. Creating a budget and building a savings plan are crucial steps in preparing for homeownership.

Long-Term Benefits of Homeownership 

Owning a home offers several long-term benefits over renting. These include the potential for property value appreciation, the ability to build equity, and the freedom to make modifications to the property. Homeownership also provides a sense of stability and security that renting cannot always guarantee.

Challenges and Considerations in the Home-Buying Process 

While homeownership offers many advantages, it also comes with its own set of challenges. The current market is competitive, with high property prices and significant demand. Potential buyers should be prepared for these challenges and consider various factors, including location, property type, and market timing, when making their purchase.

Navigating Challenges and Key Considerations in Homeownership

  • Market Dynamics and High Property Prices: Discuss the impact of high property prices on the home-buying process. In a competitive market, potential buyers may face affordability challenges. Delve into strategies such as budgeting, exploring different financing options, and considering emerging neighborhoods to navigate the hurdle of high property prices.
  • Demand-Supply Imbalance: Address the significance of demand-supply dynamics in the current real estate market. With significant demand and limited supply, potential buyers may encounter fierce competition for desirable properties. Offer insights into strategies for standing out in a competitive market, such as prompt decision-making, pre-approval for financing, and effective negotiation skills.
  • Location Considerations: Emphasize the importance of location considerations in the home-buying process. Location significantly influences property prices, amenities, and future appreciation. Guide potential buyers in conducting thorough research on neighborhoods, considering factors like proximity to work, schools, and public services, to make informed decisions aligned with their lifestyle and long-term plans.

Why Is There a Rental Crisis? 

The rental crisis is primarily driven by a combination of high demand for rental properties, a shortage of available rentals, and economic factors affecting affordability. Understanding these underlying causes can help prospective buyers navigate the market more effectively.

Role of Professional Financial Advice 

Navigating the home-buying process amidst a rental crisis can be complex. Professional financial advice, including mortgage broker services like Zippy Financial, can provide guidance on loan options, government grants, and overall financial planning for buying a home.

The rental crisis in Australia is prompting many to consider homeownership as a viable and attractive alternative. With the right planning, financial advice, and understanding of the market, turning to homeownership can be a wise decision in these turbulent times.

Frequently Asked Questions

What is causing the rental crisis in Australia?

The rental crisis in Australia is driven by high demand for rental properties, a shortage of available rentals, and economic factors affecting affordability.

How is the rental crisis affecting Australians?

The crisis is leading to increased rental costs, limited housing options, and instability for renters, prompting many to consider homeownership as a more stable alternative.

Why are people considering homeownership in response to the rental crisis?

Homeownership offers stability, potential for property value appreciation, and freedom from the uncertainties of the rental market, making it an attractive option during the rental crisis.

What financial planning steps should be taken when considering homeownership?

Prospective buyers should assess their borrowing capacity, create a budget, plan for mortgage repayments and other associated costs, and build a savings plan.

How can professional financial advice assist in the home-buying process?

Professional financial advisors can provide guidance on loan options, help navigate government grants, and offer overall financial planning advice for buying a home.

What should renters do if they are struggling due to the rental crisis but are not ready to buy a home?

Renters should explore all available options, such as seeking more affordable rental areas, negotiating rent, or considering shared housing, while also planning and saving for potential future homeownership.

Phone: 1300 855 022

Email: clientservices@zippyfinancial.com.au

Zippy Financial is an award-winning mortgage brokerage specialising in home loans, property investment, commercial lending, and vehicle & asset finance. Whether you are looking to buy your first home, refinance or build your property investment portfolio, the team at Zippy Financial can help find and secure the right loan for you and your business.

About the Author:   

Louisa Sanghera is an award-winning mortgage broker and Director at Zippy Financial. Louisa founded Zippy Financial with the goal of helping clients grow their wealth through smart property and business financing. Louisa utilises her expert financial knowledge, vision for exceptional customer service and passion for property to help her clients achieve their lifestyle and financial goals. Louisa is an experienced speaker, financial commentator, mortgage broker industry representative and small business advocate.   

Connect with Louisa on Linkedin.   

Louisa Sanghera is a Credit Representative (437236) of Mortgage Specialists Pty Ltd (Australian Credit Licence No. 387025).

Disclaimer:This article contains information that is general in nature. It does not take into account the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. This article is not to be used in place of professional advice, whether business, health or financial. 

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One-In-Three First Home Buyers Use Guarantee Schemes

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First home buyers are ignoring headlines warning that it can take years to save a deposit. Instead, they are flocking to guarantee schemes that allow them to get into the market with just a 5% deposit, and without the cost of lenders’ mortgage insurance (LMI).

NHFIC, which runs the First Home Guarantee schemes set up by the federal government, says that in 2022/23, close to one in three first home buyers tapped into the guarantee schemes. That’s up from one in seven the year before.

In total, 41,700 home buyers got into the market with the help of guarantee schemes last financial year, following an uptick in the number of places available.

Younger Australians are buying a home 

What’s especially exciting about NFHIC’s research is that it shows the schemes are allowing younger buyers to crack the property market.

In 2022/23, more than half of all places in the First Home Guarantee and Regional First Home Buyer Guarantee were taken by people under the age of 30. There has also been a fivefold increase in the number of buyers aged 18-24.

Key workers are buying with just a 5% deposit 

The low deposit schemes are also helping a growing number of key workers such as teachers, nurses and social workers purchase a home. Around 7,721 guarantees were issued to key workers last financial year.

Debunking the low deposit myth 

The First Home Guarantee has at times attracted criticism. This has largely been around the risks of buying with just a 5% deposit, which can mean taking on a larger loan with higher repayments. However, NFHIC data suggests that this has not been a problem.

Fewer than 0.1% of homeowners using the schemes have fallen behind on their loan repayments, which is less than the market average for all buyers with a low deposit loan. Better still, close to 10,000 scheme borrowers (over 12% of total guarantees issued to date) have already transitioned out of the scheme, with most of these buyers having accumulated enough equity to achieve a loan-to-value ratio (LVR) of less than 80%.

Could you be eligible for a 5% deposit scheme? 

If you are a first home buyer struggling to save a 20% deposit, it is good to know there is a pathway to home ownership that can get you into a place of your own sooner. It can also help you to avoid paying LMI, which can cost you anywhere between $4,000 and $35,000, depending on the property price and your deposit amount.

Conditions apply for the 5% deposit schemes, but new rules mean you can buy with a sibling or a friend and still be eligible for this valuable financial helping hand.

With property values rising in many markets across Australia, time is of the essence. Call us today to see if you can buy a home with a 5% deposit and zero LMI.

Frequently Asked Questions

What are the guarantee schemes mentioned in the article?

The guarantee schemes include the First Home Guarantee and the Regional First Home Buyer Guarantee, which assist first home buyers in entering the market with a lower deposit.

How do these schemes benefit first home buyers?

These schemes allow first home buyers to purchase a property with just a 5% deposit and avoid paying lenders’ mortgage insurance.

How many first home buyers used these schemes last year?

Last financial year, 41,700 home buyers got into the market with the help of these guarantee schemes.

Is it risky to buy a home with just a 5% deposit?

Despite concerns, data shows that fewer than 0.1% of homeowners using these schemes have fallen behind on repayments, indicating that it is not as risky as perceived.

Can these schemes be used for any type of property?

The schemes are generally available for a range of property types, but specific criteria should be checked for the type of property you are interested in.

How can a first home buyer apply for these guarantee schemes?

First home buyers should consult with a mortgage broker or financial advisor to understand the application process and check their eligibility for these schemes.

Phone: 1300 855 022

Email: clientservices@zippyfinancial.com.au

Zippy Financial is an award-winning mortgage brokerage specialising in home loans, property investment, commercial lending, and vehicle & asset finance. Whether you are looking to buy your first home, refinance or build your property investment portfolio, the team at Zippy Financial can help find and secure the right loan for you and your business.

About the Author:   

Louisa Sanghera is an award-winning mortgage broker and Director at Zippy Financial. Louisa founded Zippy Financial with the goal of helping clients grow their wealth through smart property and business financing. Louisa utilises her expert financial knowledge, vision for exceptional customer service and passion for property to help her clients achieve their lifestyle and financial goals. Louisa is an experienced speaker, financial commentator, mortgage broker industry representative and small business advocate.   

Connect with Louisa on Linkedin.   

Louisa Sanghera is a Credit Representative (437236) of Mortgage Specialists Pty Ltd (Australian Credit Licence No. 387025).

Disclaimer:This article contains information that is general in nature. It does not take into account the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. This article is not to be used in place of professional advice, whether business, health or financial. 

RELATED ARTICLES 

SERVICE LOCATIONS

Unusual Surge in Mortgage Refinancing | Zippy Financial

As In a financial landscape where interest rates are on an upward trajectory, an unexpected trend is emerging: a significant surge in mortgage refinancing. This phenomenon is reshaping the way homeowners and potential buyers approach their mortgage strategies.

Understanding the Surge in Mortgage Refinancing

Mortgage refinancing typically becomes less attractive as interest rates rise. However, recent data indicates a contrary trend. Despite the Reserve Bank of Australia’s rate hikes and similar trends globally, homeowners are increasingly opting for mortgage refinancing. This unusual surge is a response to a complex set of market conditions and borrower expectations.

Why Are Homeowners Refinancing Now?

Anticipating Further Rate Hikes:

Many homeowners are refinancing their mortgages to lock in rates before potential further increases. This proactive approach is a strategic move to manage future financial uncertainty.

Competitive Offers from Smaller Lenders:

The market has seen smaller lenders providing competitive refinancing options, drawing borrowers away from major banks. These offers are often more attractive, even in a rising rate environment.

Financial Restructuring:

Home mortgage refinancing allows homeowners to restructure their finances. Whether it’s consolidating debts or adjusting the loan term, refinancing provides a pathway to better financial management.

The Impact of Global Economic Trends

The global economic landscape, including policy decisions by central banks and financial institutions, plays a significant role in influencing refinancing rates. Homeowners are becoming more attuned to these trends, making informed decisions to safeguard their financial future.

Refinancing Your Mortgage: A Strategic Move

Refinancing your mortgage in the current climate is not just about securing a lower interest rate; it’s a strategic decision. It involves analyzing personal financial goals, market conditions, and the potential long-term benefits of refinancing.

Navigating the Refinancing Process

The process of refinancing requires careful consideration. It’s essential to understand the costs involved, including potential exit fees from your current loan and establishment fees for the new loan. Consulting with financial experts, including professionals specializing in home loan and personal loan services, as well as mortgage brokers, can provide valuable insights and guidance.

Understanding the Costs of Refinancing

Strategic Approaches to Refinancing

The current surge in mortgage refinancing is a clear indicator of homeowners adapting to changing economic conditions. By understanding the motivations behind this trend and carefully navigating the refinancing process, homeowners can make strategic decisions that align with their financial objectives. In a world where economic conditions are constantly evolving, staying informed and adaptable is key to financial success.

FAQ

A: The surge in mortgage refinancing is primarily due to changing economic conditions, fluctuating interest rates, and homeowners seeking better loan terms or lower monthly payments.

A: Refinancing can lower monthly mortgage payments, reduce the total interest paid over the life of the loan, or help homeowners switch from a variable-rate to a fixed-rate loan.

A: Yes, risks include potential fees, longer loan terms, and the possibility of paying more over the life of the loan if not carefully planned.

A: The pandemic has led to historically low-interest rates, prompting many homeowners to refinance to reduce their mortgage costs and take advantage of favorable terms.

A: The process involves applying for a new loan, undergoing a credit check, property appraisal, and potentially paying closing costs, similar to the original mortgage process.

A: The refinancing process can take anywhere from a few weeks to a few months, depending on various factors including the lender, the complexity of the homeowner’s financial situation, and the property appraisal.


Phone: 1300 855 022
Email: clientservices@zippyfinancial.com.au

Zippy Financial is an award-winning mortgage brokerage specialising in home loans, property investment, commercial lending, and vehicle & asset finance. Whether you are looking to buy your first home, refinance or build your property investment portfolio, the team at Zippy Financial can help find and secure the right loan for you and your business.

About the Author:

Louisa Sanghera is an award-winning mortgage broker and Director at Zippy Financial. Louisa founded Zippy Financial with the goal of helping clients grow their wealth through smart property and business financing. Louisa utilizes her expert financial knowledge, vision for exceptional customer service and passion for property to help her clients achieve their lifestyle and financial goals. Louisa is an experienced speaker, financial commentator, mortgage broker industry representative and small business advocate.

Connect with Louisa on Linkedin.

Louisa Sanghera is a Credit Representative (437236) of Mortgage Specialists Pty Ltd (Australian Credit Licence No. 387025).

Disclaimer:This article contains information that is general in nature. It does not take into account the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. This article is not to be used in place of professional advice, whether business, health or financial.

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Comparison Rate calculated on a secured loan amount of $150,000 for a term of 25 years. WARNING: This Comparison Rate is true only for the example given and may not include all fees and charges. Different terms, fees and other loan amounts might result in a different Comparison Rate. Fees and Charges Apply. Terms and Conditions are available on request.