MARKET UPTURN 

Fresh data today released by CoreLogic provides confirmation that the (general) downward property market slide from the last 18 months has concluded. 

Major decisions in May and June were very positive for Australian real estate, but it was always going to take time for any consumer response to be reflected in data.

✅ Federal election [May] outcome provided certainty over property taxes, including negative gearing

✅ First home buyer government policy [May] meaning that eligible borrowers can buy property with as little as 5% deposit and no mortgage insurance from January 2019

✅ APRA public acknowledgement [May] of overzealous tight credit policy

✅ RBA interest rate cuts [June & July] for the first time in 3 years, making loan costs the lowest they’ve ever been

✅ Tax cuts got locked in [July] 

✅ Financial institutions formally reduce their loan application assessment rates [July] by circa 2% plus