With the property market in the River City looking good in comparison to other Australian capitals, where to buy in Brisbane if you’re house hunting next year? 

From fires to floods to fevers, 2020 has certainly been one surprise after another for many Queenslanders – including those looking to buy or sell a home during this period. Housing growth has notably slowed down in the big hubs of Sydney and Melbourne thanks to both the global pandemic, overall affordability, tighter lending standards and weak wage growth. The good news? While things simmer down south, Brisbane looks to be picking up the slack. 

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How The Brisbane Property Market Is Handling Covid-19 

It’s understandable that many homeowners (and buyers) have proceeded with caution in regards to the Queensland property market this year. However, record population growth continues to fuel demand for housing, with Brisbane leading the pack. 

While it varies from suburb to suburb – and between units and houses – the forecast shows that it’s actually Brisbane that will see the strongest national growth within the next three years, jumping 13% to a median property price of $620, 000. Queensland has now become the top  destination for internal migration within Australia, taking over from Victoria. Overseas migrants are also starting to see Brisbane as the place to be, bringing 12,847 residents into the city. With over 300 days of sunshine per year, where else would you rather be? 

The best performing Brisban suburbs in the last twelve months have been relatively close to the CBD. Indooroopilly has been a star performer, where the median house price increased by 24.1 percent to $1.01 million. Also on the list is Paddington, where the median house price rose 19.8 percent to $1,269, 500. However if you’re searching where to buy in Brisbane and this is slightly over your budget, where else is predicted to see strong growth?

Where To Buy In Brisbane For Strong Market Growth 

This time five years ago, buyers might have turned their noses up at these suburbs. However, as we all know 2020 is a whole new ball game, and when paired with cheap prices, a lack of supply and a confident market – the time is right for investors to move outside of the inner city ring. 

If you’re on the hunt for a new property in 2021, then insights from this year would be a good place to start educating yourself. According to RealEstate.com, Brisbane’s “Top 10 Suburbs To Buy Property In 2020” include the following – 

1. Bridgeman Downs 
2. Carina Heights
3. Everton Park
4. Ferny Grove
5. Keperra
6. Loganholme
7. Mansfield 
8. Oxley
9. Stafford Heights
10. Wynnum 

With all of the above special mentions conveniently located less than 15km from the CBD, the Brisbane property market is holding particularly strong for traditional three bedroom style properties that include land. With lifestyle and rapidly expanding infrastructure also big factors to consider, buyers are not afraid to head out into the suburbs to explore new growth opportunities for the not so distant future. 

Have You Got A Mortgage Pre-Approval Yet?

Before you head out house hunting, one of the best secret weapons that any buyer can have is a home loan pre-approval. Not only do you know your spending limits, but the stress and time that traditionally goes into organising one is already taken care of – and did we mention bargaining power?

If you’re on the hunt for a highly recommended mortgage broker in South East Queensland, or even some friendly and honest advice on where to buy in Brisbane, then it’s time that you met with George Samios and the team at Madd Loans. 

Since their inception in 2012, the team at Madd have worked tirelessly in providing over 1700 Queenslanders with finance options to help turn their dreams into reality. With the entire brand being built on referrals, George takes great pride in making the mortgage process both fun, educational and stress free – and he has a swag of awards to prove it. 

An independent operator can be your greatest asset when it comes to navigating loan options, as brokers are there to make you happy – not the banks. To speak to a Brisbane based mortgage professional, please get in touch with the team at Madd Loans today to help turn your financial dreams into reality.

Have you taken the time to secure the future of your assets? If not, it may be time to think about why you need a will at any age. 

By definition, a will is classed as a crucial legal document that outlines your wishes regarding the distribution of your assets, property and dependents should anything happen that incapacitates you. If you don’t have one, there’s no way to guarantee what happens next in regards to settling your affairs. 

There’s a common misconception that wills are for the rich and famous, or those approaching the later stages of their life. The simple reality is that once you start investing your hard earned cash – even if it’s just a car – then a will is necessary if you want to have a say in who gets what when you die, especially if you have dependents like a partner or children. So why do you need a will, and what should they specifically outline?  

What Does A Will Cover 

While there is no particular age at which people need to have a will, anyone over the age of 18 can action one. If you don’t yet have a will in place, it’s important to know what they actually cover – and what you should make sure is included. 

Appoint An Executor – Your executor should be someone you trust who is capable of dealing with complex legal and financial financial matters, and liaise with industry professionals like lawyers and accountants. Despite popular opinion, an executor can also be a beneficiary. 

Funeral And Burial Wishes – You should advise in your will whether you wish to be buried or cremated, along with any specifics regarding your end of life celebration. If not, it will be left to your friends and family to decide on what you would have preferred. 

Guardians Of Dependents – The ongoing care of any existing children is a hugely important aspect of your will, particularly if you are a single parent. What qualifies as “dependents” varies from one person to another though, as this can also include pets. 

Trust Structures – If you have extensive assets or property, then it might be worth considering a trust set up for any minors that you wish to provide for. These can get tricky and need to be set up properly though, so you may wish to consult with a solicitor first. 

Asset Divisions – If you don’t have a clear document outlining who you intend on leaving your property or assets to, this is where family disputes can get particularly messy after a death or passing. Avoid the stress, and get your financial ducks in a row. 

Sentimental Items – A will is about far more than the “big” things. If you have family heirlooms or particularly sentimental items such as jewellery, ensure that they aren’t forgotten about in the legal document to ensure that they end up in the right hands. 

Donations – Not everybody is in the position to leave a charitable donation to a cause close to their heart, however if you intend on doing so – it needs to be documented appropriately. Some people prefer to include a donation as a part of their “legacy”. 

What Happens If You Don’t Have A Will

New research shows that only 48% of Australian adults have an active will in place. Of that 48% – 4% don’t actually want a will, but an alarming 14% don’t believe that they have enough assets to warrant one. 

If you don’t have an active will in place when you pass away in Australia, then control over your estate reverts to the Public Trustee under state intestacy laws. The laws provide a formula to determine which family members receive what share of your estate, with little to no wriggle room for negotiation. Each state and territory of Australia have different rules about what is classed as a person’s next of kin, and what portion of your estate they will inherit.

The only way to retain control over the distribution of your estate and to avoid being classed as “dying intestate” is – you guessed it – having an active and valid will in place. 

Where To Source Help With The Future Of Your Finances 

Since its inception in 2012, Madd Loans has helped over 1700 ordinary Australians obtain the finance they needed in order to get their dreams rolling. 

With the entire business built on referrals, the team at Madd have taken the mortgage broking industry by storm. Their overwhelmingly positive feedback has helped them to take out numerous industry awards, including the title of “Queemsland’s Broker Of The Year” for four consecutive years. 

After working with a wealth of clients in regards to their mortgage options, it made sense for the team at Madd to have the capacity to offer a full financial planning service. Thus, in late 2019 – Madd Life was born. 

If you’re familiar with the Madd Loans brand, then it’s fair to say that you know the team’s captain George Samios. Relentless in his pursuit of gold quality customer service, George quickly spotted another way to best steer his clients towards their financial goals. 

“I’ve been in this industry now for ten years, and I really believe in the power of financial planning. If you don’t have an organised plan to achieve your financial dreams – they’ll never happen. What Madd Life essentially does is we aim to pull the goals out of your brain, and transform them into a road map.” 

If thinking about your financial future strikes a chord with you, then it might be time to speak to a professional. Whether you’re chasing mortgage solutions or a financial fairy godmother, the team at Madd work together as a collective to turn your goals into reality. 

With extraordinary new lows not seen in over thirty years, is now the time to fix your interest rate? If you want to save in the long term – the answer is yes. 

Interest rates are market prices, which means they are a function of what is essentially supply and demand. There are both short term and long term factors that have driven interest rates lower on a global scale, all of which have in one way or another affected us here at home. 

Why Are The Interest Rates So Low In Australia?

In Australia, one of the shorter term domestic factors is weak consumption growth, which has largely been driven by very weak wages growth – translating as consumers who are burdened by very high levels of household debt, and people are reluctant to spend as they once might have done. 

Even before the arrival of Covid-19, our economy was already showing signs of slowing down. Over the past year and for a variety of reasons, economic growth in Australia has slumped. Exacerbated by the knock on effect of the pandemic, other contributing factors include ongoing trade wars, heightened political uncertainty in a number of countries and an insufficient amount of manufacturing activity.

As a result, the Reserve Bank Of Australia has continued to drop interest rates to record lows in an effort to keep our economy moving. With the big banks passing on these cuts to consumers, some fixed home loan rates now sit at below 2% – so is now the time to fix your interest rate?

What Is A Fixed Interest Rate? 

Choosing a fixed or variable interest rate for your home loan often comes down to how familiar you are with the interest rate cycle (or not). With the world feeling slightly more daunting than usual – particularly if it’s your first big foray into a large scale loan – you should be paying extra attention to your financial commitments, and ensuring that you’re taking advantage of these record low interest rates. 

When compared to a variable interest rate, or one that fluctuates along with global economies, fixed term interest rates can provide stability, certainty and security. In the past, many people have shied away from them and have taken the gamble of tying their mortgage repayments to a rate that could go up or down. 

The main benefit of a fixed rate home loan is that it gives you the certainty of knowing that your repayments won’t change over the fixed interest period, which is usually between one and five years. This way, you also know exactly what you’ll need to spend each month and can budget confidently. Should the interest rates rise, having a fixed rate loan means you won’t have to pay more – at least until your fixed term expires. This can make it a good choice if you think interest rates may be about to increase, or you’re concerned about making repayments if your interest rate does rise.

Is There Another Way To Fix Your Interest Rate?

Madd Loans owner George Samios believes that split loans offer the best of both worlds in the realm of interest rates. 

“There are pros and cons to fixed and variable loans, and that’s why we normally do offer a split loan option to our customers. My clients actually have both the offset account and redraw ability that comes with a variable loan, but they also have the security of a fixed loan.” 

Although there are no limits with how much consumers wish to allocate to each portion of the split loan – for example 60% fixed, 40% variable, etc – what you are essentially doing is distributing interest rate movements, as well as the relevant risks that may apply or be associated with each feature. It’s always worth talking to your broker to discuss in depth which option is the best fit for your individual circumstances. 

Want To Keep Talking Interest Rates?

Whether you’re an existing Madd Loans customer or not, when it comes to the world of interest rates George believes that every consumer should have access to a good deal. 

“Ultimately we are here to look after our customers – not the bank. We save our clients thousands of dollars every year by doing the leg work, and we can happily help people to renegotiate their current interest rate at no charge.”

If you think you might be paying too much or even just want a professional opinion, make an appointment today with the team at Madd Loans to see how we can get lower interest rates for you and your loan.