Mortgage Minute Buying your First Home Podcast

In this episode of the Buying Your First Home Podcast, we dove into the latest updates on the Australian housing market, interest rates, and the effects of these changes on homebuyers and investors. We also discussed the ban on rental bidding in Western Australia and the surprising trends in the unit market.

Highlights of this episode:

1. Interest rate predictions have shifted, with rate cuts possibly delayed due to persistent inflation.
2. Australia's variable rate mortgages don't necessarily make the RBA's monetary policy more effective.
3. Low interest rates are currently helping to sustain housing market stability.
4. Houses generally yield more profit than units upon resale.
5. Properties held for longer periods, around nine years, are more likely to sell at a profit.
6. Western Australia has banned rental bidding as of May 16, 2024.
7. Violating the rental bidding ban in WA could result in fines up to $50,000.
8. Unit rents and prices are rising faster than those for houses, making them attractive to investors.

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