Following from the Reserve Bank of Australia’a (RBA) first meetings of the year, there have been some signals that the interest rates could be set to rise in the second half of 2017.
There are many mixed signals in the Australian economy at the moment. House prices in some cities (particularly Melbourne and Sydney) continue to rise, with strong demand for housing in both cities.
On the flip side there are some concerns in the sames cities of an over supply of units with more apartment buildings due for completion this year.
Other cities around the country have mostly recorded small increases in general house prices with forecast of moderate growth for the likes of Adelaide, Brisbane and Hobart. Perth is experiencing a trend of lower house prices, mostly attributed to the lower demand in mining which had previously fueled a lot of housing price growth for Perth.
The mixed signals within the Australian economy are coming from various industries which are experiencing differing levels of activity, the mining industry is generally on a downturn and along with manufacturing. There are some growth areas within Information Technology and other specialised service industries. Overall, this has meant a relatively stable unemployment rate within Australia around the 5.5% mark.
Looking at the overall factors of the economy can be confusing, with different economic commentators painting differing pictures for the Australian economy. What can be said though for the purpose of home lending, the banks and other lenders are keen for new business and the lending market remains very competitive.
If you are looking for a home loan, commercial loan, business loan, investment loan or even short term business loans contact us here at MyLoanFinder.com.au to talk about your lending requirements. No loan is too small or too large and can talk with you about having a dedicated broker work with you to get the best available loan that suits your needs.