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LATEST NEWS FROM DAVID BRIGHT HOMES
Conditions right for investing
ONE in four homeowners are on the hunt to buy investment properties, new data has found. Research has shown 26 per cent of existing homeowners are looking to buy a second property and, of those, 28 per cent have owned their own home for three to five years. Investors are now considering delving into the property market. "We are seeing people really start to think about coming back to real estate investment," he says. "Even Gen Ys now look at buying an investment property rather than an owner-occupier as an alternative simply because it gives them a chance to get into the real estate market in the first step." The volatility surrounding the share market and a combination of other factors have made now an appealing time for investors to buy a second property. "It's a great time, rates are still fairly stable," he says. "Vendors are looking to move on, so people looking to buy property are going to get a good deal out there." Bromley says competition remained high in the mortgage industry, with plenty of good home loan deals on offer. The results were compiled from a survey of more than 1000 people and found 42 per cent believed interest rates were a deciding factor when considering a home loan. Mortgage and Finance Association of Australia chief executive Phil Naylor says potential property buyers still remain cautious but now is a good time to snap up an investment property. "What we are seeing at the moment is people are a bit reluctant to borrow money because they're a little bit uncertain about what's happening in the world," he says. "The time is probably right in that we have seen in some areas falls in housing prices." Naylor says with inflation levels remaining under control and unemployment levels stable, the only thing holding people back from borrowing finance to buy property was an uncertain global economy. "Is something from Europe going to blow up again and impact on the global finance environment?" he says. Simon Pressley, the founder of 6-Point Property, which buys properties for investors, says he was not surprised by the results. "What we've seen post-GFC is, even though the Australian economy has been very solid, there's been a lot of negative sentiment about what's happening externally," he says. "People are saving more than ever. You've seen greater capacity, you've also got interest rates with a couple of recent drops ... so things have been working in the investor's favour." The Reserve Bank of Australia will announce its monthly rates decision tomorrow, with experts tipping they will fall
Aussie named among world's best tradesman
An Australian has claimed fourth place in the world finals of the IRWIN Tools Ultimate Tradesman Challenge.
NSW leads national home building jump
There are early signs of renewed interest in home building during the recent period of interest rate stability.
Signed guarantee: Hospital upgrade commitment confirmed in writing by Coalition
AN IRONCLAD guarantee in writing has been given by the NSW Coalition that it will provide all necessary funds to complete the total redevelopment of Tamworth Hospital.
Tamworth Regional Local Environmental Plan
21 January 2011 In a very positive development the Tamworth Regional Local Environmental Plan 2010 (LEP) was published (gazetted) on Friday 21 January 2011. The publication of the LEP means that the previous 5 LEPs and 33 Development Control Plans (DCPs) that had applied to the Tamworth Regional Council since 2004 no longer have effect from today.
Display Home
New David Bright Homes display home is now open.
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