Ep156: Luke Piccolo How To Strategise Your Buying Ability Around Interest Rate Changes

With so many interest rate rises hitting mortgage pockets this year, there is various commentary on when they will stop, slow down or continue for the foreseeable future. However, will interest rate rises put a halt to buying property? Should home owners wanting to sell be nervous, or buyers needing a mortgage be concerned? Today we are going to find out how we can strategise your ability through interest rate changes.

Luke Piccolo, Director of Woodards South Yarra, is a member of the REIV, the REIA and at least 2nd generation real estate agent. He is passionate about the Woodards Foundation, that paves the way for corporate social responsibility, and received a REIA national award in 2021 for his excellence in community service. 

1. When do you think interest rates will stabilise?

2. What interest rate should home buyers be comfortably be able to pay with the current uncertainly?

3. What are you hearing about bank pre-approvals? Are they reducing the pre-approval time based on the anticipation of interest rate rises, which makes buyers have a sense of urgency to buy?

4. How has the market reacted to the uncertainty of interest rate rises? Do we have certain sectors of the market playing the 'wait and see' game?

5. There are always the 5 D's that keep the real estate market - Death, Divorce, Debt, Distance and Deadlines - this kind of market really takes away those who are 'testing the market' or on the fence to make a change...are you finding the same?

 6. What are your best strategies for buyers who are navigating these interest rate rises?

7. Do you have any strategies for vendors looking to sell?

 

Contact Luke Piccolo by email at: lukepiccolo@woodards.com.au

by phone: 0412 951 273

or head to the website:

https://www.woodards.com.au/office/south-yarra

 

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