Signs of improvement
The start of October came with promising news that retail trade had increased by zero point four per cent in August according to the Australian Bureau of Statistics (ABS). Backing this up was Westpac's consumer confidence index measurement of 110.63 in September showing that consumers appear more upbeat about the current economy.
These signs indicate that the Australian consumer may finally be prepared to get out and spend money ahead of the Christmas period.
Properties have also been selling fast in some Newcastle areas according to two local real estate agents. With this comes limited properties available for those left looking, so you will need to be prepared and ready to act. Stock availability will always go in cycles so keep your eyes and ears out for anything new that hits the market.
What does this mean for you if you are in the market to buy a home? With increased consumer confidence, spending on the rise, houses selling fast and limited stock, there could be more competition trying to buy your dream home.
What can you do to help yourself? Pre-approvals can enable you to make offers with confidence and our complimentary property reports can assist you with your property research.
John Paine is a mobile broker that will come to you and match you with a great home loan product to suit your needs. For more information and find out what loan is right for you, get in touch with a mortgage broker in the Newcastle area.