My wife and I spent January in Victoria painting our investment property. This picture is from early in the month.

Interest Rates, where to now?

The RBA left the cash rate at 4.35% on Tuesday 6th February 2024 for the second meeting in a row.

The top photo is just about how we left the property at the end of January. Plenty of painting and decorating.

Owner Occupied rates (at time of writing).

For an owner occupied $400,000 loan at 60% LVR the rate available is 5.98% with a comparison rate of 6.4%.
And
For an owner occupied $400,000 loan at 80% LVR the rate available is 5.98% with a comparison rate of 6.4%.
Investment property rates.
For an investment property with a $400,000 loan at 60% LVR the rate available is 6.14% with a comparison rate of 6.59%.

Property values and other statistics

Darwin property values have increased by .3% during the last month. This result is ahead of Sydney, Melbourne, Hobart and Canberra. This month units are doing better than houses.
According to CoreLogic the last 12 months show Darwin property values rising by -.1%, near on even which continues the trend.
Palmerston and Darwin City have again outpaced the Northern Suburbs.
Darwin is the cheapest capital to buy property in with a median value of $501,520. 

Please don’t hesitate to contact me should you require assistance or have question to be answered.
Regards,