Due to global supply chain disruptions and COVID-19 pandemic’s effects on consumer and investor confidence, the construction industry faces unpredictably and uncertainty, resulting in project delays and price hikes for essential materials. Here in Uptain, we offer quick and effective solutions to help clients to continue financing their construction in the current lending climate.
Uptain offers an burden-free conditional approval tailored to clients’ specific loan needs, which outlines all expected rates and fees. We typically offer a loan to value ratio (LVR) up to 75% depending on the location and type of security property. We accept residential, commercial, and vacant land properties across Australia as security. Individuals, companies, or trusts can apply for construction loans for personal or business purposes as long as they have sound real estate security and a strong repayment strategy.
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Australia’s Housing Market in Transition
Australia is seeing a significant decline in approvals for attached homes, such as apartments, townhouses, and semi-detached homes. These types of housing are essential for creating more sustainable urban development, using existing infrastructure like public transport, schools, and healthcare services.
Rents Ease After 5-Year Boom
CoreLogic Australia’s economist, Kaitlyn Ezzy, reported a recent slowdown in rent increases, a notable shift after a 39.7% surge in rental prices over the past five years.
Are Luxury Suburbs Losing Their Shine?
House prices in some Sydney suburbs with medians of $2 million or more have declined by up to 7.5% in the past three months due to affordability issues and interest rate uncertainties, CoreLogic reports.
How Are Borrowers Coping with High Interest Rates?
Recent data shows that four out of five borrowers have tightened their budgets to manage home loan repayments amidst high interest rates.
What Makes New Homes So Attractive to Buyers?
Property views for new homes have surged by 9% this year compared to last year, with inquiries soaring by 27%. In general, views for all properties for sale have risen by 7%, and inquiries have increased by 11%.
Why Affordable Homes Are Hot
Securing a home has become harder due to rising prices and reduced borrowing capacities. Many people are now looking for more affordable properties.
Is Victoria’s Property Market Meeting the Needs of First-Time Buyers?
In the first three months of 2024, more foreign investors bought properties in a new Victorian development than local investors did. A report from a major bank shows that fewer first-time home buyers are purchasing new builds, putting pressure on affordable homes in the city.
May Housing Market Report
Mid-sized capitals in Australia are experiencing notable growth in home values. In May, home values increased by 2.0% in Perth, 1.8% in Adelaide, and 1.4% in Brisbane.
Estimating Your Super before Retirement
Determining how much superannuation you’ll need for retirement hinges on two main factors:
How Cash Rates Drive Housing Dynamics
The transmission of monetary policy through cash rate changes to mortgage rates is a critical aspect of understanding economic dynamics, especially in a country like Australia with a significant proportion of variable-rate mortgage holders.