Changes to the Privacy Act should mean increased transparency and lenders able to offer more attractive terms to low risk clients, according to Michael Daniels of Smartline Mortgage Brokers. Daniels says credit reporting will move away from the existing system where only negative information such as defaults and bankruptcies can be reported. He says with access to much more detailed information about a person’s management of their debt obligations, it makes sense that lenders should be able to provide funds at a cheaper rate to those who manage their money well.
Also – the most recent Bendigo Bank REIA Real Estate Market Facts report shows national house prices grew by almost six per cent in the December quarter 2013, and the upswing is likely to continue. President of the Real Estate Institute of Australia, Peter Bushby, says the outcome will give property owners a reason to smile and gains weren’t limited to just Sydney with all capitals contributing to the increase. He says these outcomes, and steady economic influences, bode well for continued growth in 2014.
Finally – for any delusional fellas out there who think they have a say in where the family settles down, one comparison website has put that myth to bed. A survey of 155 real estate agents by the website Which Real Estate Agent, has confirmed women call the shots on life’s big property decisions, such as what homeowners will spend and how high prices will go. Managing director of Which Real Estate, Thomas Roberts, says “Eight times as many agents witness women as the dominant decision maker when selling real estate over their male counterparts,” And if you thought one state was more “blokeish” than another, then think again with Roberts confirming the result were fairly consistent across the country.
Coming up this week on the show we get some negotiations tips from a master, we find out how much money or income producing assets you will need to retire, Margaret Lomas explains cross- collateralization and we find out about a plan to have agents and sellers disclose the reserve price on an auction property 7 days out from the auction. All that and lots more in this weeks show. Its free and you can get all the details at the website – realestatetalk.com.au