In this episode of the Home Buyers Australia Podcast, Jack Corbett and Damien Walker discuss the hot topic of interest rates and their impact on the property market. With central banks worldwide starting to cut rates, Jack and Damien explore what this could mean for Australian homeowners, particularly those with variable-rate mortgages. They also touch on the importance of borrowing within one’s means and offer some practical advice for buyers navigating the current property market.

This episode covers everything from inflation trends to predictions on rate cuts, providing listeners with valuable insights and relatable real-life examples. Jack and Damien  If you are keen to understand the potential impact of interest rates on your home buying journey, this one’s for you. 

In this episode:
  • How global economic trends impact Australia’s interest rates.
  • Predictions for rate cuts in 2024 and beyond.
  • The potential impact of interest rate changes on the Australian property market.
  • Practical advice for buyers: when is the right time to buy?
  • Why borrowing power may increase as rates decrease.
  • Why it’s crucial to buy within your means, and how the long game matters in real estate.

Damien and Jack talk about:

00:00Introduction: Interest Rates and Their Future Impact
01:16The Cash Rate Explained: What It Means for Borrowers
02:00Global Trends: How Other Central Banks Are Responding to Inflation
02:43Australia’s Position: Why We're Last to Cut Rates
04:00Timeline for Rate Cuts: When to Expect the First Drop
05:53Will There Be Another Rate Increase Before Cuts?
06:43Borrowing Power and Its Link to Rate Cuts: What Buyers Can Expect
08:00Impact of Interest Rate Drops on the Housing Market
09:14Investor Activity: Factoring in Future Rate Cuts
11:06Advice for First Home Buyers: Why You Shouldn’t Wait to Buy
13:49Supply and Demand: How Rate Changes Affect Property Prices
16:00A Case Study: Navigating High Interest Rates as a First-Time Buyer
17:33Borrowing Strategies for Buyers in a High-Rate Environment
19:11Potential Changes to the Assessment Rate System in the Future
20:23The Relationship Between Housing Affordability and Interest Rates
21:00Conclusion: Key Takeaways on Rate Cuts and Property Prices

ABOUT THE PODCAST:

Are you dreaming of owning your own home? Home Buyers Australia is your ultimate guide to navigating the Australian property market. Join mortgage broker Damien Walker and buyer’s agent Jack Corbett as they break down the home buying process into easy-to-understand steps.

Damien Walker, a mortgage broker at Atelier Wealth, specialises in helping Australians navigate the complexities of property finance. With years of experience in the industry, Damien’s insights are invaluable for those looking to build a robust property portfolio.

Jack Corbett, a buyer’s agent at Corbett Property Buyers, brings a wealth of knowledge in identifying and securing high-potential properties. Jack’s expertise ensures clients make informed decisions that align with their long-term goals.

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