Buehows e-News
Hi Everyone,
A belated Happy New Year and welcome to our first newsletter for 2012, a year that is looking good for real estate investing.
The New Year has continued the positive activity we saw in November & December of last year, with buyers active in the $300,000 to $400,000 range. This activity over the last 3 months has seen properties that had been on the market during 2011 getting sold, and the supply starting to tighten. Buyers looking for newer homes are now having to search in the $400,000 to $450,000 range, this goes well towards getting some price growth in the coming year. 2012 is shaping up to be the year we start to see some upswing in activity and prices.
Did your bank fail to pass on the latest rate cut? A Japanese bank could be the answer to your money woes.
TREASURER Wayne Swan would welcome new foreign lenders to the Australian loans market, saying more competition would mean better deals for borrowers.
Responding to a Daily Telegraph report that Japanese banks could snatch $100 billion of the Australian home loan market by undercutting local lenders which fail to pass on rate cuts, Mr Swan warned the big domestic banks could no longer take their customers for granted.
“I welcome the entry of new lenders who meet our strict regulatory criteria and want to get in the ring and fight for customers by offering good deals for Australian families and business,†Mr Swan said in a statement.
At least three big banks, the $62 billion Mitsubishi UFJ Financial Group, $42 billion Sumitomo Mitsui Financial Group and $35 billion Mizuho Financial Group, are said to be considering operating here, the Daily Telegraph reports.
The arrival of the Asian giants would be good news for homeowners, with the big four banks hinting they won’t pass on an expected 0.25 percentage point rate cut in early February and others likely to follow, blaming rising costs of funds in world debt markets spooked by eurozone woes.
“Banks can no longer take their customers for granted,†the Treasurer said.
“The banks are now having to earn the loyalty of their customers.†|
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