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We   specialise    in    delivering  services    to    the    expatriate community.  You  can   find our advertising,  articles or  contact details  by visiting or contacting the   following   expat organisations:

www.homesick.com.au

www.newcomersnetwork.com

www.australiansabroad.com

www.southern-cross-group.org

Proper Finance Solutions            Level 1, 1104 - 1108 Toorak Rd Camberwell VIC 3124 Australia    telephone: +613 9809 1444 facsimile: +613 9809 1499

In this issue:

• Housing lending slows down, banks relax lending criteria
• Recent testimonials
• Need a professional hand with the property hunt? Buyer's agent can help.
• Our selection of articles by The Age

It was discussed in our July 05 newsletter that the banks responded to the slowdown in housing lending by offering interest discounts on home and investment loans. As the the chart below shows, the decline has continued into the second half of 2005. In an attempt to maintain falling volumes, banks have relaxed their lending criteria and have launched new products. For example, it is no longer a requirement to demonstrate savings pattern to obtain a mortgage for up to 95% of the property value. Another example is no deposit home loans, where you can borrow up to 100% (not available for overseas borrowers). Previously they were accessible through specialised lenders only. Now St George and Westpac have them on offer and other banks consider following the trend. From our experience,  getting a home loan approved these days is considerably easier than 2 years ago.

Lending growth by sector

Recent testimonials

Hi Matt and Anton

Finally settlement is taking place, so all's well that ends well! Thank you so much for all your help. What we appreciated best was the constant personal communication and have already recommended you to our expat friends.

Gerry

UAE

February 2006

Hi Anton

Thanks for your email informing us of our recent property settlement. Unfortunately for us the champagne chilling in the fridge will have to wait until tonight, as I left work early yesterday and only received your email this morning.

Many thanks to you once again for all your hard work and dedication - very much appreciated. thanks Anton - we will definitely be asking you to source our next loan.

Kind regards 

Christine & Ricky

Melbourne

February 2006

Engaging a buyers agent when you need assistance with the property hunt

Industry Background

The buyer’s agent sector within the Real Estate industry is about 6 years young in Australia, although it has been well established for many more years in USA and Europe.  Less than 1% of all real estate businesses registered to practise in Australia (in excess of 10,000) are buyers’ agents.  

The obvious difference between licensed buyers’ agents and the traditional licensed selling agents is that the buyer’s agent is retained by and works exclusively for the purchaser while the selling agent is retained by and works exclusively for the seller.  

In Australia unlike the USA and Europe, to avoid conflict of interest, the Real Estate Act determined a licensed real estate agent can not act on behalf of both the buyer and the seller of a property at the same time.  

What an effective buyer’s agent will do for you:

• Work with you to determine your objective as an investor or owner-occupier.

• Assist with your determination what the property specifications are, be it residential, industrial or commercial.

• Save you valuable time.  Will search, inspect, research and analyse each and every property that meets your objective and property specifications.

• Save you money by negotiating the lowest possible price and the most favourable terms and conditions on your behalf.

• Assure you a stress-free outcome to settlement and beyond by taking care of the entire process including the coordination of all essential services relevant to your purchase e.g. solicitors, local councils, strata building and structural and pest inspections and others.

• At no extra fees, offer guidance on the most suitable property manager (for investment properties) and/or how to best sell your current property.

• Ensure your absolute confidentiality while delivering an objective, independent service.

This article was presented by Property Search 4U, a young innovative real estate company with a focus on providing a professional service to its clients on a personal level.  They only buy for their clients. They do not sell properties.

For more information about Property Search 4U, its principals, services and offices, visit them at:

http://www.propertysearch4u.com.au

Our selection of articles by The Age

Victoria stays bullish on homes

AUSTRALIA 'S peak housing body has forecast a slower year for the residential building sector, although it expects the downturn to be far less pronounced in Victoria ... more

Welcome to the sky-high club

It might be one of the world's most liveable cities, but when it comes to buying a house, Melbourne is not that hospitable. The city has been ranked in the top 20 most unaffordable housing markets in the world...more

Housing solid but apartments slipping

MELBOURNE 'S housing demand is now a tale of two cities. Approvals for high-rise apartments have crashed by 70 per cent from their 2002-03 peak — yet approvals for new houses ended 2005 on a slight upturn...more

Australian leads the way in free markets

AUSTRALIA is the most deregulated economy in the Western world, the OECD says. In a new report aimed to whip up enthusiasm for economic reform, it depicts Australia as its pin-up model for open markets and small government...more

Reserve chief in housing warning

SLOPPY lending practices among the banks and their smaller rivals could jeopardise Australia 's long economic boom, the Reserve Bank has warned, as new figures reveal a growing number of Victorians are being stung by the slowing property market...more

Why Melburnians are better off

A material wellbeing survey rates Sydneysiders high, but Melburnians higher...more

In our  next newsletter - June 2006

• Property market overview and news

We will be happy to discuss and research various options for your new or existing mortgage in Australia. There are plenty of deals in store for you, simply contact us by sending an enquiry.

If you would like to send us feedback, please do so on

 feedback@properfinance.com.au

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