The CoreLogic RP Data Nine Rewards consumer sentiment survey revealed 55.9 per cent of South Australian respondents say it is a good time to buy, despite the rising capital city prices in the past three years.

The survey also showed that 59.3 per cent of people in the state think it is a good time to sell a property in Adelaide. CoreLogic RP Data research director Tim Lawless says around the country, 60 per cent of survey respondents were optimistic about the housing market.

“Although with the current growth period having run for so long it isn’t a surprise to see a fall in the proportion of respondents who think now is a good time to buy, particularly in the hottest market Sydney,” he says.

Respondents from regional South Australia were most optimistic about buying conditions, along with those surveyed in Tasmania, Brisbane and in regional Queensland.

According to Mr Lawless, this is not surprising given that these regions are yet to see a substantial run up in prices.

The survey also asked respondents about their expectations for capital growth over the next six and twelve months. Nationwide, 48 per cent of respondents expected home prices to rise over the next six months, while 45 per cent are expecting prices to rise over the next twelve months.

The survey also revealed that 41 per cent of Australians expect interest rates to remain at record lows, and another 14 per cent expected them to drop lower still.

However, a concern to those surveyed is the impact foreign buyers are having on the housing market.

73 per cent of respondents are concerned about foreign buyers pushing prices higher across the country. This was mainly a concern to those in Sydney, regional NSW, Melbourne and Tasmania.

(Source: Tom Dougherty-Messenger Newspaper and Tim Lawless-CoreLogic RP Data)

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Harcourts South Australia chief executive officer Andrew Friebe said the interest rate cut would fuel market activity, particularly leading into Adelaide’s wetter months.

“This will certainly fuel on first homebuyer activity and spur on investors chasing returns as the rates come down their returns go up because their repayments are less,” Mr Friebe said.

We’re certainly seeing a lot of investors coming back into the market from interstate, especially developers who see Adelaide as really good buying.

“There are also a lot of apartments to be released this year through the CBD so interstate investors will be quite excited about that.”

Mr Friebe said the rate cut would provide welcome relief for many households.

“For those sitting on their houses it encourages them to go out and spend the extra money on the economy and having an extra $50 in your pocket a month will go a long way for a lot of people,” Mr Friebe said.

“It represents a good saving across the whole year and means people can pay off their home loan quicker as well by putting that money into an offset account and pay off their loan faster, so it stimulates the property market as well.”

CoreLogic RP Data head of research Tim Lawless said the RBA was in the tough position of trying to stimulate economic growth without placing extra burden on housing demand.

Since the previous interest rate cut in February, CoreLogic RP Data have reported auction clearance rates moving to new record highs and the annual trend in capital gains has rebounded higher after moderating over most of 2014.

“With mortgage rates now moving even lower we are expecting dwelling values will continue rising, however it is hard to imagine the high rate of capital gain in Sydney won’t start to moderate over the coming months as investor demand is curbed by tougher lending standards for investment loans and also by diminishing rental yields and affordability,” Mr Lawless said.

“Potentially we may start to see stronger housing market conditions in cities like Brisbane and Adelaide where capital gains have been relatively muted over the past two cycles of growth.”

The rate cut announcement came just a week before Treasurer Joe Hockey is due to deliver the 2015 budget.

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To minimise risks, consider the following before making a purchase:

• Capital growth is NOT guaranteed. Whether you purchase a new or an older property.
• Research is essential. Be absolutely certain to do your homework on the property market and purchase in an area that is more likely to offer growth potential.
• Know with whom you’re dealing. Unfortunately, there are several stories of developers who go bust during a development or turn out not to be professional operators.

Take note of the developer’s history and speak to family and friends regarding developers they have used in the past.

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List everone for whom you want to buy gifts and the amount you want to spend.  Be sure to shop around for the best possible price.

Keep your receips in a folder and mark off each name and the amount you spent as you go. By going through your list systematically, you’ll ensure you haven’t missed anyone this year and that you have stayed within your limit.

Happy New Year!

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List everyone for whom you want to buy gifts and the amount you want to spend. Be sure to shop around for the best possible price.

Keep all your receipts in a folder and mark off each name and the amount you spent as you go. By going through your list systematically, you’ll ensure you haven’t missed anyone this year and that you have stayed within your limit.

Happy New Year!

The post Christmas book keeping appeared first on Loans and Mortgage Systems.

Monitor announcements made by local councils and governments and visit them to find out their intentions for growth in the area.

Seek out well-located suburbs which haven’t yet experienced a renaissance but that adjoin one or two that have.

Look for locations with several strong industries rather than any dependent on a single industry.

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