July Newsletter

JUST WHEN YOU THINK THINGS ARE RETURNING TO SOME KIND OF NORMAL!

In recent weeks we have seen a spike in cases of Covid-19 across Victoria and now NSW, and we have to assume that we may be entering into another round of lockdowns, or at least some level of restriction of trade on certain industries. The difference this time around is that we have some warning and time to prepare.

If you are a business owner who is likely to have your sales reduced by a second lock down, we can speak to you about some options to set up a working capital facility, to get you through the period you are suffering a temporary drop in income. If you have equity in your home you may also be eligible to access this for personal use via a refinance application or an increase with your existing Lender. NOW is the time to speak to us about your options, please reach out and we will do what we can to help. 😊

MORE POSITIVELY...

Our team has expanded! 🦜🦜🦜
We were super excited to have Danni join the Two Birds team in May in the position of Broker Support / Office Manager, and we shortly after moved into a fresh new office space overlooking the bush at Middle Dural, to accommodate the growing team.

Danni spent the last 10 years working as a General Manager in the Hospitality industry over in the UK and is now completing her studies in Finance & Mortgage Broking, so we look forward to seeing her climb the ranks in the business over the coming years.

We understand, it is an uncertain time for many, if your finances are keeping you up at night please reach out for a chat. Every dollar you can save on interest at this time will go a long way.

Stay safe, and thank you as always for your continued support.

Liss & Elle 🦜🦜

PROPERTY REPORT

The Home Value Index report from CoreLogic shows the estimate of home sales activity in June was up by 29.5%. Tim Lawless, CoreLogic’s head of research, said “The downwards pressure on home values has remained mild to-date, with capital city dwelling values falling a cumulative 1.3% over the past two months. A variety of factors have helped to protect home values from more significant declines, including persistently low advertised stock levels and significant government stimulus. Additionally, low interest rates and forbearance policies from lenders have helped to keep urgent sales off the market, providing further insulation to housing values.”

The five largest capital cities have recorded a decline in home values over the month. Melbourne has posted the largest fall over the month, down at -1.1% in June.
Home values were also down in Perth (-1.08%), Sydney (-0.83%), Brisbane (-0.43), and Adelaide (-0.19%), but slightly rose in Hobart (+0.34%), Darwin (+0.28%) and Canberra (+0.14%).

* Monthly Home Values figures as at June 30, 2020
* Australian auction results, clearance rates and recent sales for the week ending July 5, 2020. The clearance rate is preliminary and current as at 10:15 am, July 6, 2020
Source: www.corelogic.com.au/research/monthly-indices
https://www.corelogic.com.au/news/housing-values-decline-second-consecutive-month-june-turnover-recovers-april-low

FIRST HOME LOAN DEPOSIT SCHEME

Earlier this month, an additional 10,000 places became available for first home buyers (FHBs) looking to secure a spot under the government’s First Home Loan Deposit Scheme (FHLDS).

The FHLDS aims to help eligible FHBs enter the property market sooner, by reducing the size of deposit needed to secure a mortgage to as little as 5%.

The government has agreed to guarantee the difference between the borrower’s deposit and the standard 20% deposit required to take out a home loan, without paying lender’s mortgage insurance (LMI).

It is important to get in quick to reserve your place, as the last round of places were taken up within a few months! If you are a first home buyer and wanting to understand the benefits, be sure to reach out for a chat.

First home buyers and the construction industry will be the big winners under a targeted boost, which will eliminate stamp duty on newly-built homes below $800,000 and slash thousands of dollars for properties up to $1 million.

The change to the thresholds will only apply to newly-built homes and vacant land, not to existing homes, and will last for a 12-month period, commencing on 1 August 2020. Other purchases will continue to benefit from existing schemes.

For the full press release CLICK HERE