Chris Kang Home Loans

Chris Kang Home Loans Contact information, map and directions, contact form, opening hours, services, ratings, photos, videos and announcements from Chris Kang Home Loans, Mortgage brokers, 23/301 Castlereagh Street, Sydney.

Chris Kang is an accomplished mortgage broker who is renowned for his ability to simplify the lending process, always going over and above to negotiate with lenders to secure the best possible mortgage rates and conditions for his clients.

18/02/2025

🚨 RBA Cuts Interest Rates to 4.1% 🚨

After holding rates at 4.35%, the Reserve Bank has finally reduced the cash rate by 0.25%. This is the first cut since November 2020 and could save mortgage holders hundreds annually.

🔑 Key highlights:

Inflationary pressures are easing faster than expected.

Big banks are passing on the rate cut in full by late February/early March.

The government says there’s still more work to do to tackle cost-of-living pressures.
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What does this mean for you? Drop your thoughts below! 👇

Demand for housing is higher than interest ratesThe strong demand for housing in the face of chronic undersupply cancell...
30/01/2025

Demand for housing is higher than interest rates

The strong demand for housing in the face of chronic undersupply cancelled the effect of higher interest rates on the property market in 2024, according to PEXA.

Despite high rates typically resulting in fewer buyers being able to afford property – and prices going down as a result of less demand and competition – home values still increased last year.

PEXA chief economist Julie Toth said the primary reason was the chronic and sheer imbalance between the supply and demand for homes in Australia.

“This was driven by a tight rental market pushing more renters into buying, rapid population growth due to a peak in immigration and the ongoing trend of smaller household formation – a hangover from the pandemic.”

Meanwhile, with housing supply forecast to fall short of demand for another five years, Toth does not believe affordability will improve in the near term.

“The cash rate is a bit of a red herring to the whole housing affordability debate [but] other factors are much stronger…Demand is going to outstrip supply.”

Across the combined capitals, house and unit prices rose 5.7% and 5.3% respectively last year.

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Interest rate cuts unlikely to drive property prices significantly higherWhile property prices are likely to go up once ...
29/01/2025

Interest rate cuts unlikely to drive property prices significantly higher

While property prices are likely to go up once interest rates start coming down, the increases are not expected to be substantial.

According to CoreLogic head of research Eliza Owen, rate reductions may have “little effect” on home values and transaction activity this year.

“Even if the average mortgage rate drops by 135 basis points (the lower-bound of forecasts for the cash rate at the end of 2025), a median-income household could reasonably afford a $593,000 home – still much lower than the current median home value of $815,000.”

A rate of 3.1% by the end of 2025 is also higher than the pre-Covid decade average (2.55%) that supported strong lending volumes in the 2010s, she said.

Without a huge rise in buying activity – the trigger for increased competition among buyers and, thereby, a key driver of home value growth – there is unlikely to be a significant increase in prices.

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Investors eye property for retirementInvestors seem to agree that property investment can be a great way to boost your r...
28/01/2025

Investors eye property for retirement

Investors seem to agree that property investment can be a great way to boost your retirement savings.

In just three months, the proportion of investors stating their main property goal in the next 12 months is to position for retirement has almost doubled, according to the Australian Property Investors magazine.

An investment property can generate an income for you, helping pay off the mortgage. When you are ready, you can sell the property and put the money towards your retirement.

One way to buy an investment property is by leveraging the equity in your existing home loan. Equity represents the difference between your property's current market value and the outstanding mortgage balance. Here’s an example:

Your home is worth $700,000. You have contributed $400,000 towards your mortgage. That means you have $300,000 in equity.

You can access this equity by refinancing your current home loan, and then use that money to pay the deposit on your new investment property.

However, lenders may have slightly different methods of calculating equity. It can be a good idea, therefore, to work with a mortgage broker who can help you find a solution that suits your financial circumstances and long-term investment goals.

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Early cash rate cut could boost property pricesA February cash rate cut could bring back some confidence to the property...
23/01/2025

Early cash rate cut could boost property prices

A February cash rate cut could bring back some confidence to the property market, particularly in cities like Sydney and Melbourne where activity has slowed, according to Ray White chief economist Nerida Conisbee.

It will, however, also mean that the price downturn will be “fairly quick.”.

“In Melbourne’s case, it may be that price declines stop. In Sydney, it may be that [price growth] starts to pick up again,” she told PropTrack.

While Ray White has factored in price growth of up to 3% from a potential rate cut next month, there could be a period after the first cut where sellers choose to ‘watch and wait’ before deciding to list their homes.

The first quarter of the year may, therefore, prove the best time for buyers; interest rate cuts are likely to see an uptick in activity, which typically leads to increased competition and rising prices, Conisbee said.

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A government scheme helps 200,000+ people become homeownersMore than 200,000 homeowners have purchased property with the...
22/01/2025

A government scheme helps 200,000+ people become homeowners

More than 200,000 homeowners have purchased property with the support of the Home Guarantee Scheme (HGS) since its inception in 2020, according to Housing Australia.

The HGS is an Australian government initiative that helps first home buyers, single parents, and regional buyers to purchase a home sooner; the scheme provides financial guarantees to participating lenders that enable buyers to put down smaller deposits without needing to pay lender’s mortgage insurance.

The HGS is available for eligible buyers through a panel of participating lenders and their authorised mortgage brokers.

Housing Australia reports that more than 52% of homeowners who purchased with the support of the HGS were under the age of 30, and over half were women.

Regional Australians have also been actively making use of the scheme, with more than 67,000 eligible buyers acquiring a home in these locations.

Meanwhile, the government’s Help to Buy scheme, which is expected to be rolled out across the country this year, will offer first-home buyers additional assistance to enter the market.

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Your guide to upsizing in a buyer's marketThis year is shaping up to be a buyer’s market, with a surge of listings expec...
21/01/2025

Your guide to upsizing in a buyer's market

This year is shaping up to be a buyer’s market, with a surge of listings expected as homeowners list their properties post-holiday season. So, if you’re looking to upgrade, this could be your chance to secure a bigger, better home at a favourable price.

However, upsizing involves juggling two properties: the one you’re selling and the one you’re buying.

Before starting your search for the perfect home, take steps to prepare your current property for sale. Assess its value and then, using this information, explore potential neighbourhoods that fit your lifestyle and budget.

It is also advisable to secure mortgage pre-approval so you can search for properties that align with the loan size a mortgage lender is willing to give you.

When searching for your new home, conduct thorough inspections and research its history. Most importantly, take your time to make informed decisions.

If you find your dream property but have not yet sold your current home, bridging finance can help. This is a short-term loan that can help you finance the purchase of a new property while you wait for the funds from your sale.

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Address

23/301 Castlereagh Street
Sydney, NSW
2000

Opening Hours

Monday 10am - 7pm
Tuesday 10am - 7pm
Wednesday 10am - 7pm
Thursday 10am - 7pm
Friday 11am - 5pm

Telephone

+61413207961

Website

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