WE’RE RICH DAAAAAAAAAAARLING!!!
Cancel that holiday to the Central Coast and fly first class to Monaco. Don’t grab a cab, book a driver. Eat lobster not bbq chicken for dinner...things aren’t so bad....you’ve got more money in your back pocket than you think! Below are some financial facts that will have you jumping up and down shouting...."I’m rich, I’m rich"...
The only trouble is....you’re family will want a private island for Christmas not a pair of socks!!!1. If you are an average variable rate mortgage holder with a loan of $300,000, you now have $500 more in your pocket at the end of the month compared to 3 months ago.
2. If you are an average driver who fills up a 60 litre tank of petrol every week, you are now around $100 per month better off.
3. If you have a term deposit, you are now lucky to lock in for a 5.5% return.
4. If you prefer investing in the stock market then you are braver that I given it has dropped over 30% since the beginning of the year.
5. If you invest in a Sydney residential unit you are now looking at a median gross rent return of 5.7% according to RP Data. That’s $438 per week in rent for a $400,000 unit.
6. If you fix the interest rate on your mortgage for 2 years, one of our panel lenders is now offering 5.99%.
7. If you are looking to buy a property in NSW you should be aware that we have a shortfall of 50,000 dwellings (according to the Housing Industry Association numbers).
8. If you are wondering why the roads seem busier lately, 60,000 people arrived in NSW last year from OS and interstate. Another 60,000 will arrive this year.
9. If you are a first home buyer looking to purchase a home for less than $500K, you not only pay $0 in transfer stamp duty but the Govt’s will now throw between $14,000 and $24,000 as a tax free grant.
10. If you are taking out a mortgage for the purpose of buying residential property, the abolition of mortgage stamp duty in NSW this year has saved you around $1,100 if you borrow $300,000.
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