Marrickville - punching above it’s weight

Marrickville - the home of the fighter Jeff Fenech is punching above its weight

The gentrification of  Marrickville and surrounds has resulted in it being top growth suburb in Sydney growing by over 8% this year! (CoreLogic - see graph)

Ev Foley agrees and shares her view on the market in API magazine

The young professionals, artists and musicians have moved in giving it a  bohemian atmosphere.

Baba’s place - a warehouse converted into  a Lebanese restaurant meeting place  - round the corner from Messina and  “the Factory” hosting sydney fringe festival epitomises the grunge trendiness gives a taste of the vibe of the suburb 

Marrickville’s achieved rockstar status says Aris Dendrinos Richardson and Wrench, who  has just sold a three-bedroom, one bath property on Renwick Street in July for $2.1 million, well above the median dwelling price of $1.7 million.

It seems as if Marrickville will continue to outperform the market !!

Marrickville - A good place to buy? 

API magazine

Below is September’s property outlook - by CoreLogic

If you are interested in a free discovery consultation to see whether you are maximising your property portfolio , leverage index and getting the best mortgage solution - feel free to connect with me - connect with me here 

https://www.bsifinance.com.au/

Interest rates are likely at peak days the banks

New RBA governor Michele Bullock assumed the role yesterday (18 September) following Mr Lowe’s departure after his seven-year tenure.

She assumes the role at a time where all the bank economists are of the view that inflation is now under control and interest rates have peaked or close to peaking.

Commonwealth Bank of Australia (CBA) economist Stephen Wu - CBA’s view that the current cash rate of 4.1 per cent is likely the apex of the cycle

Westpac chief economist Bill Evans the current cash rate of 4.1% looks to be “sustained for the remainder of the cycle”

ANZ economist  Adam Boyton is if the view that  the cash rate should have an extended pause

The NAB Group economics team bekieved there will be a final cash rate hike forward to November from December, to a peak of 4.35 per cent.

Source 

Mortgage business

Time to buy property in Sydney?

Auction activity is buzzing with Sydneys busiest week since early April

Sydney and Melbourne, have recorded their busiest end to winter in over 10 years, with listings up around 20%.

CoreLogic’s Property Market Indicator for the week ending 17 September 2023 has revealed a rise of 2.6 per cent in Sydney’s  auction activity (2,334)

Clearance rate was only  70.1% - not bad when compared to  60.1% 2022 (not as good as in past)

According to PropTracks senior economist Angus Moore, new listings increased year on year since August 2022 - with new listings on realestate.com.au up 20.5 per cent nationally in August and up 4.1 per cent compared to the same time last year. 

He said that they are expecting this activity is likely to continue increasing over the spring selling season, reaching the “typical peak in October and November”.

Home prices nationally have continued to recover, posting their eighth consecutive month of growth in August reaching their previous peak 

Is it time to buy? 

A unit or a house? 

Inspired from mortgage business 

A 10X return - the power of leverage

Imagine buying a property worth $1m with a $100k investment and getting a 10X return! 

With leverage, a 7% return per annum  or more per annum can become a 24% return per annum over 10 years. 

💥100k can give you $1m 

That's a huge difference! 

On the above assumption of property increasing by 7pc pa , a $100k investment with 90% gearing can give you $1m - a 10X return! 

💥The investment 

- a 10% deposit of $100k for a $1m property 

- a shortfall of circa $1500 per month 

(on a $1m property at 6% interest, giving a net rent of $30k pa. 

The risk - if property goes down in 10 years  - you lose more than your initial investment …. So you are making a call that property will either increase or decrease in 10 years) 

#investment #realestate #leverage  

Vote here 

#Leverage is the one word that can transform your investment game!