March 07, 2013
RBA Cash Rate Steady at 3%:
The Reserve Bank has left the cash rate on hold at 3% for the third month in a row. This will continue to assist home affordability, with figures showing that Australian homes are the most affordable in three years.
The Real Estate Institute of Australia’s (REIA) Housing Affordability Report shows that housing affordability improved in the December quarter, with the proportion of income required to meet loan repayments decreasing by 1.4% to 30.4%. Queensland recorded the largest decline in the proportion of income required to buy a home; a drop of 1.9 percentage points to 28.1 per cent. Read more: http://news.domain.com.au/domain/real-estate-news/interest-rate-reductions-help-home-affordability-20130306-2fk4n.html
Interesting Local Property Fact:
Long term house price growth in Wynnum is currently outperforming Brisbane LGA at 7.1% vs 6.7% (units in Wynnum 6.9% vs 6.8% Brisbane LGA). Read more: http://apm.domain.com.au/Research/AddressLine=wynnum&LocationType=Suburb&State=QLD&SuburbId=41024
Outings in the Redlands:
The Royal Queensland Yacht Squadron is Queensland’s oldest and most prestigious recreational boating club. It offers a wide variety of recreational activities and social functions at its unique Bayside venue with spectacular views of Manly Harbour. Check it out and check out their site: http://www.rqys.com.au/
Free Home Loan Seminars:
Please come to one of my free seminars. Over the next few months I am offering seminars for home buyers, first home buyers and property investors. See my seminars tab for above for details and booking.