One of lenders has updated their policy with some changes that benefit those on casual or commission income.

Casually employed workers can use 100% of their casual income with no further shading.  A minimum of 6 months of employment in the current role is needed, and we’ll annualise your income based on 52 weeks instead of 48.

Only 6 months of history are needed to accept commission income, and we will annualise out the YTD income and shade to 80%.

Looking for ways to improve your borrowing cacpacity? Book in a telephone appointment with me and I will show you how. Click here to go my calendar to make a time.

The monthly house price results from CoreLogic show national house prices rose another 0.7% in June, taking the annual growth to 8%.

Perth (+2%), Adelaide (+1.7%) and Brisbane (+1.2%) had the strongest growth over the month, with Perth now up more than 23% over the year.

Melbourne (-0.2%) was the only capital city to see house price soften.

Regional house prices are expected to hit record highs in almost all parts of Australia in the next 12 months, according to analysis by Domain.

Its FY2025 Price Forecast Report predicts Queensland’s Gold and Sunshine Coasts will achieve the strongest growth and will become the most expensive regional housing markets in Australia.

It predicts the Gold Coast will grow by between 3% and 6% and the Sunshine Coast will grow by between 2% and 5%.

Regional Queensland is predicted to grow by between 2% and 4% and Regional NSW by up to 3%. Regional Victoria is predicted to drop by between 0% and 3%.

Domain Chief of Research and Economics Dr Nicola Powell, says regional house prices in NSW and Queensland would improve the most in large regional towns, such as Tamworth, and satellite towns of the major cities, such as Wollongong and Newcastle.

She says ongoing undersupply will continue to drive the markets. Powell says taxation changes in Victoria impacted that market and investors are looking elsewhere because the capital growth isn’t there.
 

Growing demand for apartments means unit values are tipped to hit record highs in more suburbs in the coming months.

CoreLogic data shows that unit values hit new highs in the past month in nearly 40% of suburbs in Australia.

The data shows that 90% of Brisbane and Adelaide unit markets have already beaten their previous highs, 80% in Perth and 20% in Sydney.

CoreLogic head of research, Eliza Owen, predicts apartment values will continue to rise at a faster pace than house values as buyers seek out the more affordable apartment market.

“In most of the capital cities at this point, growth in unit values is starting to overtake that of houses, and that could be reflective of people trying to make their money go further up by purchasing into cheaper asset types,” she says.

This is particularly the case in inner city markets, according to Owen.

“As house values soar to new heights, some of that demand must start to shift towards units just out of necessity.”

“It’s a more realistic option, which means the added demand could take some unit markets to new record highs as well as what we’ve recorded last month.”

It is possible to borrow up to 95% for investment purchases.

Typically the maximum most lenders will go to for investment is 90% but some will lend up to 95%. Meaning a substantially lower deposit. This means you can push your purchasing range further or keep more capital up your sleave for your next investment purchase. This is available for both purchases and construction. 

Click here to see if you qualify