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What’s New at Austral Mortgage?
 
Self Managed Super Funds (SMSF)
 
The continued growth of self-managed superannuation within Australia has been nothing short of phenomenal. According to recent surveys, Self-Managed Super Funds are the fastest growing area of the superannuation industry in Australia. Because of the range of advantages over other super funds, including greater control over how their assets are invested, ability to manage tax outcomes and potentially reduced costs, it comes as no surprise to the mortgage industry to hear of the growth. As at December, 2012, total SMSF assets were estimated to be $474 billion.
 
A key reason for the rapid growth of self-managed super funds has been it’s relatively low set-up cost and the fact that it gives investors control over where their retirement savings are invested. One of the major law firms in Sydney is currently processing over 200 SMSF loans a week on behalf of various lenders in this market. The correct loan structure is important to ensure compliance with ATO requirements and as a result legal fees and other costs are generally higher than a standard private property purchase. If you would like more information on loans for self-managed super funds, give us a call on (02) 9299 1833 or email us at enquiry@australmortgage.com.au.
 
Auction Clearance Rates
 
The recent Federal election failed to curb Sydney buyers’ thirst for property with the city recording an auction clearance rate of 87.6 per cent, breaking yet another record for the best auction clearance rate for the year. Investors are back in the market sensing prices are set to increase after a number of years of relatively flat growth.

The central coast, the city and east, along with the north-west and the west all recorded results for 100 per cent clearance rates.

Researchers advise that Sydney’s residential values have grown 7.5 per cent in 2013 alone and 7 per cent since September last year. Further this time last year, the combined capital city auction clearance rate was a poor 53.2 per cent across a total of 1,298 auctions.

If you are contemplating buying property in NSW and have your eye on a particular suburb, give us a call and we will happily run a Residex Suburb Report for you at no cost. These reports provide a lot of information on the suburb, its population make-up, the services provided and most importantly property trends/ growth predictions for the area. Call us on (02) 9299 1833 or email us at enquiry@australmortgage.com.au
 
Fixed Rates
 
Fixed rates remain low particularly for 1 and 2 year terms (currently around 4.87% p.a.) Longer term rates are slightly higher ranging from 5.24% for 3 years through to 5.89% for 5 years. If you have no plans to sell in the near future it appears an opportune time to fix part, or your entire loan.
 
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Austral Mortgage Corporation Pty Ltd | 1300 30 30 99 | Level 16 / 15 Castlereagh St, Sydney NSW 2000 Australia
Australian Credit Licence No: 392204 | MFAA Member No: 42 | COSL Member No: 400028
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