Otis Finance

15/03/2023

There’s another factor that, over the long-term, has a surprisingly strong impact on property prices.

21/02/2023

Don’t be fooled by the catching headline, the fundamentals of the Perth Property market remain strong as noted in the below article by REIWA

What if your property price falls? We remain positive on Perth property overall this year, but conditions differ for every suburb...so if you are worried…

25/10/2022

The rapid increase in interest rates feels all too sudden for borrowers, but it's not the first time this has happened. Here's how events played out almost 30 years ago.

23/10/2022

Variable vs Fixed Interest Rates is always a topic of conversation

An insightful article from the Prop Track team looking at the uptake of fixed rate mortgages during COVID. Historically fixed rates occupy 10 - 20% of new lending.
With the support of the RBA's Term Funding Facility, this saw fixed rates below 2% the uptake for fixed rate mortgages peaked in July 2021 with 45% of new loans having a fixed rate.
12 months on, as the TFF facility is no longer available, the uptake of fixed rate mortgages has shrunk dramatically to be 5.5%

In 12 months, fixed rate mortgages have gone from 45% of new lending to only 5.5% in July - a remarkable shift in such a short period of time.

30/08/2022

Core Logic this week released a report providing an insight into Australian Property Values over the past 30 years.

Some relevant statistics taken from the report include:

- Capital cities have produced an average 5.4% compounding growth rate since July 1992
- Melbourne has the highest growth rate during this period of 5.9%, with Perth recording the lowest at 4.8%

Overall a great insight into property investing and the long term benefits provided historically

02/08/2022

At its meeting today, the Board decided to increase the cash rate target by 50 basis points to 1.85 per cent. It also increased the interest rate on Exchange...

21/07/2022

It is taking longer and longer for most Aussies to get into their first home. So, who are the first-home buyers able to crack the market now?

18/07/2022

Many Australians are keen to have an investment property, and if you are lucky enough to possess sizeable home equity, it's possible.

15/07/2022

With the start of the new financial year upon us, I'm sure you would have heard in the past 'It's a good time to review your banking and finances'

Yes, I'm an advocate for doing this annually - but I want to summarise why now is just as important as ever before.

The last 2 years the landscape has changed, we've seen the property values appreciate, the labour market tighten and now central banks increasing interest rates to combat inflation.

This means that you have likely seen a spike in the value of your property, you've considered or accepted a new role in the same or a different industry or you are concerned about the increase in interest rates.

A finance review is important, to take time and consider the road ahead, forecast what changes you are expecting and protect against unexpected changes or events. It's a time to review your existing position and if required make adjustments to align with the road ahead.

To support you in this, I wanted to put together some things to consider

Future Planning:
- Where do you see yourself in 3 - 5 years
- What do you envisage during this time (starting family, new car, new job, one income, upgrade house, school fees, buy your first home, purchase an investment property, renovate your property, start a business, travel)

Current Position:
- Review of budget, is there any unnecessary expenses that can be adjusted
- Where is my/our surplus cashflow best suited, do I need to make consider rising interest rates
- What is my/our current interest rate, when was the last time this was reviewed with my Broker/ Banker
- Is our insurance coverage adequate for our current and future circumstances (life and income protection, building and contents, health)

Once you have an understanding of what's ahead, this can allow you to plan appropriately. Some of the actions I am seeing as a result of the above include:

- Unlocking equity to purchase an investment property, complete renovations or purchase a new car
- Renegotiating interest rates with current lender or seeking more competitive options
- Restructuring current lending or maximising borrowing capacity for further/future investments
- Adjusting budget to allow additional repayments to mortgage/s
- Utilising support available through FHB grants and schemes to get into the market earlier

I've found the following resources a great support during this process:
- https://mortgage.monster/
- https://moneysmart.gov.au/saving/save-for-a-house-deposit

If you would like guidance to support you through this process, please reach out
[email protected] or 0448 436 703

Thanks :)

12/07/2022

Looking to understand the breakup of your suburb, with the 2021 Census Data coming available - check it out below

From the remote town leading the nation on housework to the "man-drought" in our wealthiest suburbs, few datasets shine a light on our neighbourhoods quite like the census. See what's happening in yours.

06/07/2022

A great flashback and comparison from 1982 to now 🙈

How much more expensive has life gotten since 1982? I compare wages, the cost of property and groceries then and now. Check out the results of my 40-year...

05/07/2022

The Reserve Bank has made the decision to increase the cash rate by 0.5% at todays board meeting.

Commentary provided sees inflation peaking towards the end of the year, returning to an appropriate range of 2 - 3% in 2023

At its meeting, the Board decided to increase the cash rate target by 50 basis points to 1.35 per cent.