The number of Australians keen to buy a home in the country has dropped in the past 12 months, although the majority still favour doing so.
A new survey carried out by CoreLogic RP Data on more than 1,000 people, reveals that 60 per cent of respondents believe that the June quarter will be a good time to buy a home, in spite of rapidly rising house prices. This compares to 71 per cent in the same quarter last year and 80 per cent a year earlier.
Respondents were most optimistic about buying conditions in Tasmania, South Australia, Brisbane and Queensland, said Tim Lawless, the Research Director at CoreLogic RP Data.
Unsurprisingly, the least optimistic purchasers were found in New South Wales, in particular Sydney, where average property prices recently exceeded the AUS$1 million mark.
“Sydney- and regional New South Wales-based respondents were the least optimistic about buying conditions which can probably be attributed to the high rates of capital that have been recorded over the past few years,” Lawless said.
According to the latest figures, price rises averaged 0.6 per cent in the five mainland state capitals in the week ending 19th July, while annual price growth was at 10.5 per cent.
No matter where in Australia you’re thinking about moving to, one way you can ensure you pick up the best deal possible when it comes to buying a house in the country is by making sure you make the most of the currency exchange process.
When exchanging large lump sums, even only slight fluctuations in the currency exchange markets can have a huge impact on the money you’ll have available to start your new life.
The Pound-Australian Dollar exchange rate has been rising fairly steadily over the past three months. For example, back on 8th May £1 would have purchased you AUS$1.912, while as of last Friday you would have received AUS$2.116. If you were exchanging £150,000 – say from the sale of your UK home – then this would equate to a difference of almost AUS$30,600! A useful contribution toward buying a home.
Fortunately, you don’t have to be a financial whizz kid to make sure you get the best exchange rate – that’s what companies like Halo Financial are there for.
Foreign exchange companies understand why the exchange rates are moving and just what impact this has on your currency transaction. What’s more, they can also explain how to make your money go further and give you a range options on exactly when you wish to exchange, and how much you should exchange at a time.
Article published 28th July 2015
Author: David Fuller
To find out how you can take advantage of positive fluctuations in the market and exchange your currency at the right time to get the best possible rate, call 020 7350 5474 or visit www.halofinancial.com
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