What improved borrowing capacity means for buyers

The Sunshine Coast property market is buzzing with opportunity, but waiting for interest rates to drop could mean missing the boat.

While some prospective buyers are sitting on the sidelines, hoping for a more favourable lending environment, the reality is that property prices in this region are unlikely to remain static, with healthy median price growth in recent years forecast to continue as more people migrate north.

The good news is that Australian lenders are hungry for new business and competing more aggressively than ever.

They are, in fact, changing their ‘rule books’ (also known as credit policy), making it much easier to borrow money, now that home loan interest rates have stabilised and lenders see less risk.

Any decrease in interest rates is likely to improve this even more, so will likely ensure stronger competition, pushing property prices higher.

Instead of chasing lower rates, consider using an experienced mortgage broker to access better lender options so you can focus on securing your property at today’s prices.

This generally creates equity down the track which keeps all property punters smiling.