Western Property February 17 2023

NOT ALL LENDERS ARE THE SAME, EXPERTS WARN

Mortgage holders have been slapped with a ninth consecutive rate hike in February and while it will add to repayment pain, borrowers need to be aware that not all lenders respond to the cash rate in the same way, says Canstar.

The Reserve Bank of Australia lifted the cash rate in February by a further 0.25 per cent to reach 3.35 per cent. According to Canstar, the latest rate rise means borrowers with a

$500,000 mortgage over 30 years will be paying $969 more per month on their repayments than they were in April. That adds up to $11,628 per year. This is probably not the last cash rate hike in 2023, with three of the four major banks predicting rates will continue to rise. With further rate increases on the cards, Canstar’s Editorat-Large, Effie Zahos cautions borrowers about the differences between banks and non-bank lenders and how they price home loans.

“Typically, non-banks – those that don’t have a full banking licence and can’t accept deposits from the public – tend to offer lower rates than banks. But as rates continue to rise, both here and overseas, the cost of funding for non-bank lenders will climb higher than it will for banks,” she said.

“One reason for this is that non-banks don’t have access to cheap deposits they can call

on for funds, while banks that offer savings accounts do.

“We’re already seeing the gap between bank and non-bank rates closing. The gap between the average variable rate of the banks compared to the non-bank lenders in May 2022 was 0.71 percentage points. Today, that gap has shrunk to 0.56 percentage points.

“The tip here for borrowers is to keep an eye on their rate and how it compares to other rates on the market. Even if you have scored a rock-bottom rate, keep in mind that this may change so it can pay to be vigilant.

“If you do notice that your rate is increasing faster or higher than that of other lenders then you may want to look into refinancing.

“Reserve Bank data shows that there’s a 0.5 per cent difference between the interest rate offered to new customers versus existing home loan customers.”

This Duplex Sold for above the Owners expected price at the first open home.

Hear what the owners have to say about the experience Selling with Jocelyn:

Exceeds Expectations

We chose to use Jocelyn to sell our property after having previously bought our property through her and having been impressed by her communication, skills and expertise. Jocelyn has gone above and beyond to help us through the sale process. Her communication is frequent and thorough and ensures we know what is happening every step of the way. She ensured our property was in its best position to sell and sold above our asking price on the first open house. Jocelyn has been exceptionally supportive throughout the sale period with both ourselves and the purchasers and has gone beyond her role to ensure that everyone had what they needed and knew each step of the process and what to expect. Would 100% recommend using Jocelyn Verified by RateMyAgent

• DA Approved for 6 Townhouses • In the Approved DA plan each townhouse does consist of 2 bedrooms plus study with two bathrooms and powder room • The first stage and second stage done, base and frame

• The third, fourth and final stage with enclosing, fixing and practical completion is for you to finalise

• Zoned R3, nestled on a 1208 square metre block

• Situated in a quiet cul-de-sac

M: 0428 934 618

PERSONAL AND PROFESSIONAL FANTASTIC AGENT

“Gizzelle was very helpful and supportive throughout the entire sale process. Communication was great and we felt she always had our best interests at heart. We really appreciate all the hard work Gizzelle put in and would not hesitate to recommend her to anyone looking at selling their property.”

Thinking of Selling, Buying

Very Happy Sellers

Litsa took care of every detail of our property sale and we could not have asked for a better outcome. From the moment we decided to sell with Litsa, we didn’t have to worry about anything as she handled the whole process with a high degree of knowledge and expertise and all with a friendly smile. The outcome of the sale exceeded our expectations thanks to Litsa and I would highly recommend her services for anyone wanting to buy or sell. Thank you Litsa.

Investing?

Just Listed Just Listed Just Listed 1 1 1 + 3 2 1 Artist impression

Sale : Just Listed

Inspection:

storage • Split system air conditioning

• Spacious balcony with spectacular view of the Blue Mountains, perfect for entertaining family and friends

• Spacious car space

M: 0428 934 618

E: gizzellepowell@remax.com.au

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EVERYTHING REALTY REALESTATE has sold hundreds of homes in the local area.

So ! What do you look for in the AGENT you are listing your most prize possession ?

You should look past the NAME of the REALESTATE and choose the PERSON you can TRUST and who has the EXPERIENCE to NEGOTIATE to achieve for you the best possible market price for your home.

Robert Thomson & Bruce Mansell are two of the most honest experienced trustworthy blokes in the Realestate Business in your area!

Robert has spent the past 20 years working in Real Estate sales. Initially he worked in local Residential Real Estate Sales, winning many awards during that period. Robert gained a reputation for listing many properties and delivering excellent sales results for his clients. In addition to sales, Robert was instrumental in preparing and providing detailed market appraisals including valuable listing preparation advice to clients.

The final role Robert held before moving to Everything Realty, was with a Real Estate based in Bella Vista. In addition to the role of Sales Manager, Robert was the manager in charge of Office Management, Market Appraisals and Presentations, HR Management, liaising with Solicitors, Financial Institutions, Investors, Developers and Builders.

Given the extensive experience acquired in Residential Sales along with Property Development, including all facets of the Real Estate industry, Robert was exceptionally well positioned to become the Principal of Everything Realty and is well versed to handle your needs, whatever they may be!

Bruce started his career in the Real Estate industry in 1984. Initially, Bruce was a Sales Manager based in the Parramatta area of Sydney. This quickly expanded to include all facers of Real Estate –Auctions, Project Marketing, Finance and Investment Properties. Many of Bruce’s business principals were learned during his sixteen years as an owner of a hotel complex in the Chanel Islands, UK, followed by this property development company in Australia. As a fully licenced Real Estate Agent and Auctioneer, Bruce has gained extensive experience and exposure to The Hills District and Parramatta Region that is hard to match. Throughout his Real Estate career, spanning over 30 years, Bruce has been involved in the sale of over two thousand homes.

One of the hallmarks of any good Sales Manager, is clients who remain loyal over a period of time. The client list that Bruce has is extensive and is a fantastic indicator of the level of service that is provided. Whatever your needs be, please do not hesitate to contact Bruce to discuss.

GOWDA

Member!!!

Richard has been a full-time real estate agent for 22 years and has personally sold hundreds of properties.

Prior to his career in real estate, Richard worked in London as an Encyclopedia Britannica field salesperson, later becoming a property rental agent in the East London area of the UK. Throughout those formative years, Richard learnt how to negotiate at an international level. After moving to Australia in the 1990’s Richard embarked on a career in real estate sales.

The lure of property renovation captured his attention and Richard became involved in his own residential renovation projects.

When Richard decided to venture into real estate in late 2001, he had a basic business philosophy to offer superb service on an individual basis and to develop a loyal client base. And in addition to this Richard’s unusual blend of careers, languages and an interest in different cultures has helped him to become the successful agent he is today.

ROBERT THOMSON – Principal/ Director

BRUCE MANSELL – Area Manager

RICHARD

– New Team

TOP LOCATION FOR PERFECT FIRST HOME

What is so great about this property? Location.

Who does this property suit? First home buyers, families, etc…

Tell us about the suburb the property is in? Beautiful family environment, quiet, great community surrounds.

“Don’t

HELP IS AT HAND TO SAVE ON RATE RISES

With the Reserve Bank Governor Dr Philip Lowe committed to “do what is necessary’ to tame the inflation dragon, mortgage holders may need a friend to get through the coming months of further interest rate pain.

At Bell Partners, we are receiving calls from clients concerned about their ability to cope with rising interest rates, including many who will be coming off low level fixed rates.

Let me assure you that with our high-level team of finance brokers, you do have a friend to help out

through these difficult times. Dr Lowe did not pull any punches when he announced the RBA’s latest interest rate increase this month from 3.1 per cent to 3.35 per cent, after the December inflation figures of 7.8 per cent were at the high est level since 1990.

“The Board is seeking to return inflation to the 2–3 per cent range while keeping the economy on an even keel, but the path to achieving a soft landing remains a narrow one,” Dr Lowe said.

“The Board expects that further increases in interest rates will be needed over the months ahead to ensure that inflation returns to target and that this period of high inflation is only temporary. The Board remains resolute in its determination to return inflation to target and will do what is necessary to achieve that.”

At Bell Partners, we have dedicated brokers determined to achieve top results for their clients. If that means getting a lender to reduce your interest rate, we can deliver. If you wish to refinance to a more competitive loan, we can help.

Bell Partners has been providing financial services for more than 60 years. Our brokers are backed by experienced lending support staff to deliver the highest standard of service. They are specialists in all types of finance, including home loans, vehicle, asset and equipment finance; commercial and business lending, rural and agri lending, development finance and private lending. Our headquarters is in Sydney and we can offer face to face and online services. Don’t hesitate to seek our assistance if you need help.

At Towns Conveyancing, we understand how important making the correct decision is –whether it be your first home or an investment property. We’re here to help you throughout the journey and aim to simplify the process to leave you with time for yourselves. We are committed to you, will guide you through all the necessary steps and will ensure that your transaction is as stress-free as possible. We pride ourselves on the ability to cover every aspect of your transaction and communicate with you at all times – keeping you informed each step of the way. We assist with the following;

Find The Right Property Why

We’ve won multiple awards, and know what we’re doing when it comes to buying and selling.

We’ve been servicing the Penrith community since 2002. With over 20 years of conveyancing experience, we pride ourselves on ensuring that you’re in safe hands.

We’re happy to help you, day or night. We’ll keep you updated every step of the way, and should you need anything else, we’re willing to help..

Welcome to the less-is-mortgage.

Welcome to the less-is-mortgage.

It happens. One day you wake up and there’s a credit card debt, a car loan and two maxed out store cards.

It happens. One day you wake up and there’s a credit card debt, a car loan and two maxed out store cards.

And while it can easily get out of control, it’s just as easy to make your debts manageable again.

And while it can easily get out of control, it’s just as easy to make your debts manageable again.

Consolidating all your debts into

month. So you’ll not only pay less, you’ll worry less too.

Consolidating all your debts into your mortgage means a lower interest rate and a single repayment every month. So you’ll not only pay less, you’ll worry less too.

To find out whether you could benefit from bundling all your debts into a single lower-rate loan, give me a call today. It’s stress-free, obligation-free - and could be one of the best investments you ever make.

To find out whether you could benefit from bundling all your debts into a single lower-rate loan, give me a call today. It’s stress-free, obligation-free - and could be one of the best investments you ever make.

Anita Peniata – Colyton/St Clair

Anita Peniata Leasing Consultant

Anita joined the team at LJ Hooker Colyton St Clair in

Anita joined the team at LJ Hooker Colyton St Clair in 2022, with a background in interior design along with managing various small business ventures for the last 15 years. This experience has taught her the importance of listening to people and connecting the right solutions with all involved.

She is highly motivated and her friendly, bubbly and approachable personality will help make the letting process stress-free and enjoyable!

Anita is responsible for managing inquiries from prospective tenants, scheduling and conducting property tours, negotiating lease terms, and completing paperwork for new residents.

Anita is a skilled communicator and excels at building relationships with clients, often going above and beyond to ensure their satisfaction.

Penrith

Melissa Jerzyna, a Senior Property Manager for LJ Hooker Penrith, has one rule when leasing property and that is to place tenants she would happily have living Her criteria has helped the agency to build a management portfolio of more than 600 properties.

“It is very important for everyone to match the right person with the right property,” Ms Jerzyna said.

“We also treat both landlords and tenants the same. At the end of the day, without respect for both parties you have chaos and small issues manifest into larger problems. Mutual respect is the only foundation on which to build solid relationships.”

Ms Jerzyna started working in real estate straight out of high school more than 20 years ago. With a passion for all things connected to the property market, she took an entry-level position as a receptionist. Just a year later, she was promoted to property officer and later into a management position.

Ms Jerzyna joined LJ Hooker Penrith 12 years ago and has won the network’s title of NSW Property Manager of the Year four times in the past five years. She has twice been the recipient of LJ Hooker’s International Property Manager of the Year. She is also a member of the prestigious LJ Hooker Captain’s Club which recognises the network’s top performers.

Ms Jerzyna’s day-to-day tasks include accounts, business development, building portfolios and managing staff.

“I am very big on organisation, so everything runs pretty seamlessly”, she said. “I really enjoy helping people, particularly those who have just bought their first investment property, so I will hold their hand the whole way through and make sure they are happy with the process. The system doesn’t have to be hard if you have the right advice.”

Melissa Jerzyna

Senior Property Investment Manager LREA penrith.ljhooker.com.au

4732 2322

Do you read Western Property?

ORAN PARK

FINALAPARTMENTS NOW SELLING ACT NOW!

This is your last opportunity to secure a luxury apartment in the prestigious Metro precinct, centrally positioned in the heart of the Oran Park community.

Generously sized, these 3-bedroom apartments feature ample floor space, sophisticated style and the finest finishes.

Built in partnership with the award-winning Allen Jack + Cottier Architects and currently under construction with Richard Crookes Construction, the residences are completed to a high standard with:

• Miele oven, gas cooktop, rangehood, built-in microwave oven and dishwasher plus striking Parisi tapware, tinted mirror splashback and Caesarstone benchtop centrepiece

• Ceramic tile floor throughout with carpet to bedrooms

Apartment G.03

Interior 111sqm

Exterior 33sqm

Total 144sqm

9043 7500

Apartment 3.10

Interior 108sqm

Exterior 23sqm

Total 131sqm

Price $819,500

REAL ESTATE FLASHBACK

This week, we’re looking back to Glenmore Park in 1992 as the suburb starts to take shape. Photos thanks to Penrith City Library.

NORTHERLY VIEW OF A SECTION OF ALLISON DRIVE.

EXHIBITION HOUSES AND LAND SALES OFFICE FOR THE GLENMORE PARK ESTATE.

HOUSES UNDER CONSTRUCTION ON THE CORNER OF ACACIA STREET AND FLORIBUNDA DRIVE.

VIEW FROM THE CORNER OF FLORIBUNDA DRIVE, SHOWING THE EXHIBITION HOMES IN ACACIA STREET.

VIEW LOOKING NORTH WEST TOWARDS REGENTVILLE.

NEW HOUSES IN HONEYSUCKLE AVENUE. VIEW LOOKING ACROSS TO INTERSECTION OF BURSARIA CRESCENT AND ACACIA STREET.