Join Australia's most dynamic and respected property investment community

NAB raises interest rate

Discussion in 'Property Finance' started by Neeraj Prakash, 23rd Oct, 2015.

  1. Neeraj Prakash

    Neeraj Prakash New Member

    Joined:
    23rd Oct, 2015
    Posts:
    2
    Location:
    Sydney
    Last edited: 23rd Oct, 2015
  2. Propertunity

    Propertunity Exclusive Real Estate Buyers Agent Business Member

    Joined:
    19th Jun, 2015
    Posts:
    1,225
    Location:
    NSW
    ANZ IR decisions were de-coupled from the RBA decisions some time ago. They do it in their own time frame and it will have nothing to do with ANZ attempting to "impact next weekends clearance rates", although since all of them are doing it now, it may have that effect in some parts. But really 0.2% is diddly squat IMO.
     
  3. MTR

    MTR Well-Known Member Premium Member

    Joined:
    19th Jun, 2015
    Posts:
    7,355
    Location:
    Perth, Melbourne, USA
    ouch
     
  4. willair

    willair Well-Known Member Premium Member

    Joined:
    19th Jun, 2015
    Posts:
    1,693
    Location:
    Brisbane..
    This is when all of the complexity theorists come out of the woodwork,and it would be good for the stakeholders in ANZ,.plus when i started investing in 1983 the rates were above 16% and very hard to come by "OPM".
     
  5. WestOz

    WestOz Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    625
    Location:
    WestOz
  6. Neeraj Prakash

    Neeraj Prakash New Member

    Joined:
    23rd Oct, 2015
    Posts:
    2
    Location:
    Sydney
    a lot of people are talking about Brisbane is a good place to invest now and Sydney has peaked..

    what would these interest rate rises mean for the Brisbane (and other places forecasted to go up)?
     
  7. Propertunity

    Propertunity Exclusive Real Estate Buyers Agent Business Member

    Joined:
    19th Jun, 2015
    Posts:
    1,225
    Location:
    NSW
    Domain.com.au’s latest Price Report has revealed that Brisbane’s property market returned a disappointing performance over the September quarter.

    House prices rose just +0.8% over the quarter to $497,143, while unit prices fell by 0.6% to $362,737. Year-on-year growth to September 2015 stands at +3.6% for houses and -3.6 % for units.
     
    twistedstats, hpresident and 2FAST4U like this.
  8. hpresident

    hpresident Well-Known Member

    Joined:
    30th Jun, 2015
    Posts:
    75
    Location:
    Brisbane
    Agreeing with Propertunity. I am also a bit uncertain about Brisbane. From all the inspections, I feel like there are a lot of vendors asking for too much, properties that are reasonably priced are going fast but overall the price is not really moving up, at least not strongly. With interest rate going up and media blasting the sydney slow down, I think Brisbane may follow soon.
     
  9. jaybean

    jaybean Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    981
    Location:
    Melbourne
    Dammit. I'm probably within 3-5 days from getting my loan approved too. Not great timing.
     
  10. dabbler

    dabbler Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,668
    Location:
    Sid en e - olympic city
    makes no real difference, it is not all for new loans only.
     
  11. twistedstats

    twistedstats Well-Known Member

    Joined:
    5th Jul, 2015
    Posts:
    80
    Location:
    Sydney
    There's a lot of support for Brisbane as the next "growth" area but I am also not convinced (but happy to be convinced). A lot of investors from Syd/Melb attracted by affordability buying in Brisbane but to get strong growth will really need 1) more buying by locals and 2) inflow of foreign investors. Can't see 1) happening as the macro picture for QLD is not great although Brisbane might be better given tourism boost and lesser impact from mining. 2) is hard to predict but with China cracking down on foreign flows, I don't really see a channel by which we will see anywhere near the growth Syd/Melb has had. There's an apartment oversupply issue in inner-Brisbane which will also keep lid on prices in some areas.
     
  12. Natedog

    Natedog Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    273
    Location:
    Melbourne
    Don't get caught up in the short term media blasts of positive/negative predictions.

    "Long term" the major capital cities in Oz that have diverse industry mix will do fine.

    One measly little interest rate rise is a drop in the ocean.

    We will all do alright in the long run
     
    pugstar205 and KayTea like this.
  13. Davothegreat

    Davothegreat Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    253
    Location:
    Sydney
    ING is raising their variable interest rate from 4.66% to 5.03% (a rather hefty 37 basis points) as of 5th November. I'm guessing this is only for investment loans as they've also changed the "reference rate name" which I interpret as the product name from "Orange Advantage IO" to "Orange Advantage IO for Investors".
     
  14. jpcashflow

    jpcashflow Well-Known Member Business Member

    Joined:
    21st Jun, 2015
    Posts:
    371
    Location:
    Melbourne
    I think rates will climb even further and the natural thing to happen is for people to be spooked out and slow down in buying. For me Brisbane is a overrated market, land tax and insurances are the killer for that state. People who you invested in Brisbane 5 years ago would have made some nice capital gain but i think its to late to make any decent coin in that area.