Mortgage Choice Norwood - Steve Smith

01/06/2026

EOFY is approaching, and for property investors, this year feels a bit different. Between the usual scramble for receipts and the major tax changes announced in the May Budget, there is a lot to get right. The big takeaway is that the "old rules" for negative gearing and CGT are being grandfathered for properties held before 12 May 2026.

If you're looking at buying an established property now, the math has changed. On top of that, the ATO is cracking down on holiday home owners who block out peak periods for personal use - if it’s not "mainly" a rental, you might lose your interest deductions.

In short, don't let the tax tail wag the investment dog. A good property is a good property, but you need to run your numbers based on the new reality.

Want to talk it through? Full breakdown plus a booking link on the website: https://www.mortgagechoice.com.au/steven.smith/blog/eofy-tax-tips-for-property-investors-and-budget-changes/

25/05/2026

Auction clearance rates have taken a sharp dive, falling from roughly 70% in February to the low 50%'s this past weekend. While we usually expect a bit of a seasonal slowdown as we head into winter, this shift is different.

Between the three interest rate hikes we've had recently and the Federal Budget's changes to negative gearing, the "froth" is officially out of the market. Lenders are already tightening up how they calculate borrowing power for established properties, which means some buyers are finding they can't bid as high as they used to.

The upside? For the buyers still in the game, the pressure to overpay has eased. We're moving toward a balanced market where negotiation is back on the table.

Full post on the website with a link to book a 15-minute chat: https://www.mortgagechoice.com.au/steven.smith/blog/why-auction-clearance-rates-are-dropping-and-what-it-means/

20/05/2026

The 2026 Budget changes to Negative Gearing and Capital Gains Tax are now filtering through to the banks. What this actually means is a significant hit to investor borrowing power - in some cases reducing a budget by hundreds of thousands of dollars.

The government's goal is to free up established houses for owner-occupiers, which is a fair objective. However, the side effect is a likely squeeze on rental supply and higher costs for tenants.

I’m already seeing lenders communicate pending changes to their assessment policies to remove the "negative gearing boost" from their calculators. If you’re an investor, the strategy you had yesterday might not work today.

Want to talk it through? Full breakdown plus a booking link on the website: https://www.mortgagechoice.com.au/steven.smith/blog/budget-2026-changes-to-negative-gearing-and-cgt/

11/05/2026

After three consecutive RBA hikes, I’m getting a lot of questions about whether it’s time to fix.

Here’s the thing: fixing isn't a "win or lose" game against the banks. It’s a choice about your risk appetite. While locking in your rate gives you certainty for your budget, it usually comes with trade-offs like limited extra repayments and the loss of your offset account.

Currently, fixed rates are often higher than variable rates, so you’re paying for that peace of mind upfront. If you’re undecided, a split loan - part fixed, part variable - is a practical way to get the best of both worlds.

Want to talk it through? Full breakdown plus a booking link on the website: https://www.mortgagechoice.com.au/steven.smith/blog/should-i-fix-my-home-loan-a-practical-framework/

05/05/2026

The RBA has raised the cash rate by 25 basis points today to 4.35 percent. This effectively wipes out the cuts we saw in 2025 and puts the rate back at the previous cycle peak.

What this actually means is about $90 a month extra in repayments for a $550,000 loan, or $120 for a $750,000 loan.

If you’ve been waiting for rates to drop further before reviewing your mortgage, it is time to reset those expectations. My advice this week is simple: check the gap between your current rate and what your lender offers new customers, stress test your budget for another small move, and don’t "panic-fix" without looking at the numbers first.

Want to talk it through? Full breakdown plus a booking link on the website:

21/06/2023

Major news for First Home Buyers in SA, with the State Government abolishing Stamp Duty for new homes up to $650,000! Along with the incentives already in place, it's a pretty good time to be a first home buyer in SA! 🏡

https://www.statebudget.sa.gov.au/our-budget/housing/support-for-first-home-buyers

📲: 0422262223

The First Home Owner Grant property value cap will be increased from $575,000 to $650,000 for eligible contracts entered into from 15 June 2023.

09/11/2022

https://www.mortgagechoice.com.au/steven.smith/blog/yet-another-reason-to-use-a-mortgage-broker-/

Check out this short blog (by me!) on one of the great reasons to use a broker, and it's probably not the reason you might think! 😌

📲0422 262 223

October 28, 2022 by Steve SmithThere are many compelling reasons for using a mortgage broker. Almost 70% of all loans are done through a broker these days, so more and more people are coming to this realization. But one of the best reasons I can give you for engaging a Mortgage Broker is not the act...

19/07/2022

Just a quick post to let you know that I am now a Mortgage Choice broker, following Smartline's integration into the MC brand.

Nothing changes from a customer perspective, still the same great service and choice as always. Just some new colours and an exciting new brand, and all still powered by the REA Group!

23/09/2021

1.98% variable - this is what one bank is now offering to new home loan customer, for owner-occupied refinances or purchases!

My nephew Jesse was beside himself! I suggested he take out a loan to buy himself some tissues, but that's another story 😅😝

📲 0422 262 223

20/09/2021

Took a break from the socials, but I'm back with a photo of a pretty sweet outdoor pizza oven set up.

Not that you could use it in this weather! 😅🥶