by clicking the arrows at the side of the page, or by using the toolbar.
by clicking anywhere on the page.
by dragging the page around when zoomed in.
by clicking anywhere on the page when zoomed in.
web sites or send emails by clicking on hyperlinks.
Email this page to a friend
Search this issue
Index - jump to page or section
Archive - view past issues
The Mercury Real Estate Guide : January 6th 2011
62 --- MERCURY Thursday, January 6, 2011 property MERCURY MORTGAGE WATCH Fixed Rates Standard Variable Home Institution Phone Intro rate Intro Term Rate Equity rate 1 Yr Term 3 Yr Term 5 Yr Term Application Fee AMP 133030 6.87f 12 7.82 - 7.09 7.24 7.84 $545-895 ANZ 131314 - - 7.8 7.95 6.99 7.1 7.74 $0-600 Aussie 131 333 - - 7.58 7.47 7.14 7.44 7.79 $600-675 B&E Ltd 1300 306 716 7.25f 12 7.7 - 7.19 7.74 8.44 $650 Citibank 1300 361 922 - - 8.02 8.39 7.24 7.29 7.59 $250-649 Commonwealth Bank 132 221 6.94f 12 7.81 7.91 7.09 7.39 7.79 $600 CUA 133 282 6.84v 12 7.22 7.72 6.98 7.19 7.69 $795 HomeSide Lending 132464 - - 7.2 7.88 6.94 7.2 7.89 $600 ING DIRECT 1800 133 464 - - 7.34 7.72 7.24 7.44 7.79 $220-719 ME Bank 131563 - - 7.24 - 7.29 7.39 7.99 - mecu 132 888 - - 7.44 7.54 7.04 7.19 - $595 MyLoan MyWay 1300 721 240 - - 7.03 7.61 6.75 7.65 8 $0-395 MyRate.com.au 1300 663 558 - - 7.03 7.5 7.28 7.68 7.83 - NAB 131312 6.58v 12 7.67 7.15 7.04 7.3 7.99 $600 Nationwide Mortgage (02) 9265 1700 6.45v 12 7.43 7.53 7.06 7.32 7.77 $710-730 QuickDirect 1300 79 69 80 - - 6.65 - 6.95 7.75 8.1 - RESI Mortgage Corporation 136 126 6.60v 12 7.55 7.55 7.26 7.28 7.97 $0-633 St. George Bank 133330 6.84f 12 7.8 7.9 7.14 7.44 7.94 $100-800 Suncorp 131155 6.84f 12 7.83 7.83 7.04 7.39 7.79 $600 Westpac 132 032 - - 7.86 8.01 7.19 7.49 7.89 $60 The introductory rate reverts to the standard variable rate after the initail term f=fixed c = capped Source: www.infochoice.com.au INDEPENDENT PROPERTY INSPECTIONS • PRE-PURCHASE INSPECTIONS • 5 STAR CONDITION RATING -- FREE • OVER 12,137 INSPECTIONS EXPERIENCE • REPORTS START FROM ONLY - $250 • FREE BUILDING CONSULTANCY UNTIL SETTLEMENT • REPORTS COMPLETED THE SAME DAY OR IT'S FREE FOR INSTANT SERVICE -- CALL 0418 120 828 Your Local Experts 11740590 WE MAKE THINGS EASY at Tony Robinson 0438 789 493 6231 5600 Borrow up to 95% of the purchase price 2014187-LS AVAILABLE 7 DAYS NO UPFRONT BROKERAGE FEES PHONE 6231 5600 firstname.lastname@example.org MORTGAGE W RLD *Aust Credit Licence No 382124 take a fresh look at home finance 0219 Fresh Housing Loans is a fresh approach to nancing your new residence or even re nancing your existing home. Owner-occupier home loans Investment property loans Re nancing/debt consolidation Self-employed applicants Credit-impaired applicants For professional service and quick approvals call Cameron Dick today! Mobile 0417 369 915 Phone 6213 3318 Fax 6234 5171 Email cdick@fresh- nance.com.au 15 Warwick Street Hobart www.fresh- nance.com.au FINANCE AND CONVEYANCING Our house market tops world HIKE HEAVEN: Australia led the world in house price increases this year but relief is on the way in 2011. Australian house prices led the way last year, a new report reveals WHILE Australia led the world in house price increases last year, it is likely interest rate hikes will slow the market in 2011, reports Global Real Estate Trends. The report, released by Canada's Scotiabank, tracked the housing markets in 12 advanced economies throughout 2010. Australia recorded the highest increase in home prices in the year to September --- 9.4 per cent, the report found. The next biggest increase was France, with a 6.8 per cent gain, followed by Sweden (5.6 per cent) and Switzerland (4.7 per cent). Spain recorded a drop of 5.2 per cent in home prices, as did Japan (2.8 per cent) and the US (0.4 per cent). Australia led the pack, thanks to relatively low unemployment and tight housing supply. But interest-rate hikes and a cut to the first homeowners grant slowed a ''red-hot'' property market in 2010 to some degree, the report said. Economist Adrienne Warren anticipates the Reserve Bank of Australia will lift interest rates by an additional 75 basis points in 2011. Australia's close trade ties with Asia and resource wealth would continue to underpin a solid pace of domestic activity. ''Higher interest rates will worsen already strained affordability,'' Ms Warren said in a statement. Canada's market also fared well, but was ''one of the most volatile'' expected to be tempered by more moderate employment and income growth in 2011. The UK property market staged a strong early-year recovery while Germany's decade-long housing slump also came to an end. But it was a different story in Spain, Ireland and Italy, where the market continues to fall. Japan's two-decade- long property slump continued in 2010, and is expected to slump further in2011onthebackofa weaker economy. The surprise result came from the US where the housing market stabilised. That trend is expected to continue. The report predicts the US Federal Reserve will maintain its record-low 0.25 per cent rate through to the end of 2011. Big spenders need to hold back PRUDENT APPROACH: Reserve Bank of Australia's Glenn Stevens. Consumption we get used to today is harder to wind back in the future if circumstances change' AUSTRALIANS should save rather than ramp up spending while the economy surfs a ''once in a century'' tidal wave of prosperity, according to Reserve Bank governor Glenn Stevens. Sounding a warning about the ''challenge of prosperity'' facing the nation, Mr Stevens said recently that it would be unwise for Australia to become hooked on unsustainable levels of spending. There was no way to know if Australia's roaring terms of trade --- the value of exports relative to imports --- would continue at its current 60-year high, he said. But he signalled that it would be foolish to assume the nation's exports would continue to be so lucrative in the long run. ''It would be a mistake to rest on our recent achievements, as significant as they have been, and to fail to press on in our efforts to do better,'' Mr Stevens said. ''On all the indications available we are living through an event that occurs maybe once or twice in a century.'' Australia's chief central banker said the shift in terms of trade, ''unless clearly quite temporary'', would drive structural shifts in the economy. Some business sectors would prosper while others suffered, and the ''policy challenge for governments will be whether to help these sectors resist change or to help them adapt to it''.The value of the nation's exports relative to imports has surged 60 per cent this decade, compared with the average over the 20th century. ''A prudent approach might be to use the current period of exceptionally favourable international prices to raise our saving,'' Mr Stevens said. He said that five years ago, a shipload of iron ore was worth about the same as about 2200 flat-screen television sets. Today it is worth about 22,000 flat-screen TV sets, partly due to TV prices falling but more due to the price of iron ore rising by a factor of six. He noted that the household savings rate had already swung substantially into positive territory over the past five years. Australian households are saving about 10 per cent of their income, compared with minus one per cent five years ago, when they were spending more than they were earning. Mr Stevens said the nation should ''seek to save the bulk of the surge in national income occurring in the next year or two'' until the long-run prospects became clear. The name you d recommend in Conveyancing 168 Collins Street Hobart 7000 Facsimile: 6224 4166 Email: email@example.com Website: www.simwolf.com.au 6224 4133 Call Chris Perriman for all your conveyancing needs 2059129-LS
December 16th 2010
January 13th 2011