Kochie’s property update: Home loan interest rates and positive property activity

- February 7, 2020 < 1 MIN READ

With Governor Philip Lowe confirming low rates are here to stay. Competition in the home loan market has continued to heat up. There are now over 30 lenders offering variable mortgage rates starting with a “2”.

Lowest advertised rates on

Variable rates

Lender Advertised rate
Reduce Home Loans 2.69%
Well Home Loans 2.72%
Homestar Finance 2.74%

 2-year fixed rates

Lender Advertised rate
Goulburn Murray Credit Union 2.50%
Well Home Loans 2.68%
Freedom Lend 2.69%

3-year fixed rates

Lender Advertised rate
Well Home Loans 2.68%
UBank 2.69%
Freedom Lend 2.69%

 5-year fixed rates

Lender Advertised rate
Bank of Melbourne 2.84%
St. George Bank 2.84%
HSBC 2.85%


Notes: Rates are for owner occupiers paying principal and interest. LVR requirements may apply. comparison rates are typically higher for fixed rate loans. 

Property activity looking positive

I mentioned last week I thought January property price results were a little hard to take too seriously because everyone’s on holidays and there aren’t many properties up for sale.

But some further data has come in which is encouraging.

Property analysts SQM Research, reveal national residential property listings increased in January by 2.2 per cent to 295,295. Compared to 12 months ago, listings were down by 10.0 per cent but they seem to be trending in the right direction.

All capital cities experienced increases in property listings over the month with the largest increase in Sydney of 5.1 per cent, followed closely by Hobart with 4.9 per cent. Canberra had the smallest increase of 0.6% listings.

Year-on-year listings show declines for all capital cities with Sydney recording a significant decline of 24.8 per cent and Darwin 24.7 per cent. However new listings (listings less than 30 days old) recorded a surge for the month and are higher than same levels recorded in January 2019.