According to CoreLogic’s recent report on the property market in Australia, Sydney house prices has seen an impressive increase, more the twice that of the rest of the country, of 1.6%. What this means, is that we may be seeing the Sydney market recover, after the correction in pricing it has seen over the last several months. , of 1.6%. What this means, is that we may be seeing the Sydney market recover, after the correction in pricing it has seen over the last several months.
What a 1.6% increase means, is that if your home was worth $750,000, it has potentially increased to $762,000. Now that is nothing to retire on, but it is positive news nonetheless.
Greater equity position
When Sydney house prices increase like this, it gives Sydney home owners a greater equity position on their current homes. Now, the RBA and APRA will continue to monitor the situation, as this also potentially leads to consumers increasing their discretionary spending. However, it can certainly help with opportunity to invest, and improve your overall financial position, if you play your cards right.
At Option Wealth, we offer our clients specific strategies to reduce their mortgage term dramatically. If the price of your Sydney home continues to increase, it improves your overall wealth position. Additionally, if you can then pay off that mortgage in quicker time, it will free up cash flow, that can be used to build wealth, not just for you, but for your family and their future.
Contact us now, to arrange a free fact find, and discovery session, to see how we can help you take advantage of the increased value of your home, and set you on the right path to financial security and freedom.