The latest property video from Kevin Turner | 21st August

In this week’s 2 minute property investment news video- Abbot Point’s multi-billion dollar mining town expansion and the current property market

The Queensland mining town of Bowen’s future is on hold. The Federal Government was due to make an announcement on whether or not a massive multi-billion dollar expansion would go ahead at Abbot Point near Bowen – which would no doubt benefit investors in that area.

However, it has now been put on hold until after the federal election. If it does go ahead, Abbot Point will be one of the largest coal terminals in the world and would increase jobs in the area… but there are some environmental groups who are concerned it could also harm the Great Barrier Reef.

[sam id=36 codes=’true’] Meanwhile, the Queensland Government has granted environmental approval for Clive Palmer’s $6.4 billion mine in Alpha, which is in the Galilee Basin.. so perhaps the mining boom isn’t over after all.

Meanwhile, mortgage uptake is on the rise. It seems investors and homebuyers are coming back to the property market, with mortgage enquiries at the highest level they’ve been for the past three years.

An insight report by data company Veda suggests Australia’s property market is past the bottom of its cycle and on the way back up. It says despite a slow March quarter, June is looking much better in almost all states… and inquiry rates in Western Australia are up 15 per cent, while New South Wales is close behind, up 13 per cent. This is largely due to falling interest rates and momentum building in most states.

Finally the Reserve Bank of Australia also seems to think the property market will continue to strengthen because in its quarterly statement, the RBA says demand for housing finance is continuing to strengthen … with loan approvals rising by 25 per cent in just six months.

It adds households are also paying down debt much faster, so many investors are using equity to refinance. However, first homebuyer approvals are still flat – due to changes in first homebuyer incentives and also rising property prices, which obviously makes it much harder for first homebuyers to enter the market.

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If you’re serious about property investment please join me and a group of property and tax experts at my upcoming Property Market and Economic Updates that I’ll be conducting in 4 states in August and September 2013

I will be presenting a heap of BRAND NEW content I haven’t discussed in public before. I guarantee there will be several things I reveal that you are not doing and you should be!

Click here now to get more details and reserve your seat.

Property & Econonomic Update

If you want to cut through all of the media hype, and all the contradictory predictions, and finally learn the truth (good and bad) about what is going to happen to the Australian property markets, this seminar is exactly for you…  Click here now to get more details and reserve your seat.

Michael Yardney

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