Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

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Friday, 15 January 2016

Cranewatch

Good morning!

Just looking out the window, as you can see below there is stacks of apartment construction underway looking out over Fortitude Valley towards Bowen Hills and the Brisbane Showgrounds.


And even more apartment construction taking place in Newstead around the gasworks area.


I very much doubt we will see all of them built, but the Greater Brisbane area has seen some 19,775 units and apartments approved over the year to November. 


Self-evidently investors need to think very carefully about what and where they buy in 2016.

AMP slashes lending rates

AMP has this morning announced sweeping cuts to lending rates, which will take effect from Monday 18 January. 

The Essential Variable Loan will be slashed effective Monday by 30 basis points (bps) to just 4.08 per cent, while the 3 year fixed rate will be dropped by 28bps to 4.28 per cent. 

The variable rate on new loans to investors will be cut by fully 40bps to 4.57 per cent, while the 3 year fixed rate for investors will also drop by 35bps to 4.57 per cent.

Potentially a very significant move.