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Why dips in the property market shouldn’t discourage long-term investors

Residential property prices in Sydney and Melbourne have fallen in the past 12 months. Domain Group data shows a 6.5 per cent drop in Sydney and a 3.2 per cent drop in Melbourne in the year to September 2018, and economists and market commentators predict further falls. But as Domain economist Trent Wiltshire points out, you need to put these falls into context. “In Sydney between 2012 and 2017, house prices went up by 85 per cent,” Wiltshire said. “People who bought at least five years ago will see gains regardless.” Time in the market, rather than timing the market, remains a critical factor for successful property investing, and a look at long-terms trends of the Australian property mark

NAB to stop chasing customers with big discounts

The decision by NAB chief executive Andrew Thorburn to stop chasing new business with aggressive discounts and to reward loyal customers has put the bank in uncharted territory after delivering a result that revealed further deterioration in its net interest margin. The bank faces a tough assignment in convincing the market that the strategy of discounting mortgages for new business has passed its use-by-date, as it faces up to a future of lower margins and higher regulatory and compliance costs, with the bank revealing more than $1 billion in restructuring and compensation charges. Mr Thorburn outlined the long-term benefits for the bank as it unveiled a 14 per cent fall in cash profit to

 
 
 

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