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When and why an agent might have to act in the tenant’s interest

May 25, 2020Cameron Micallef

It is common knowledge that agents should act in the best interest of landlords. However, COVID-19 has thrown a spanner into the mix, a government statement has explained. ...

REB_top100agents
top 10 agents

1

Alexander Phillips

Year of Experience: 20

Support Staff: 3

Residential Properties Sold: 215

Total Value of Residential Properties Sold:

$ 522,477,791

VIEW COMPLETE REPORT

Have you experienced sexual harassment or bullying in the workplace?

Yes, I've been the victim of sexual harassment (15.8%)
Yes, I've been the victim of workplace bullying (21.1%)
No (63.2%)

Total votes: 19
The voting for this poll has ended on: April 30, 2020
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REBAWARDS Listready
Real Estate Business Awards 2020

The REB Awards is the benchmark of success in the Australian real estate industry. It reflects not only the business astuteness of the country’s leading real estate operators and networks..

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Why we’ll keep delivering for our communities in the face of COVID-19

alex

As Australia tries to keep pace with a rapidly changing business and social landscape in the wake of COVID-19, Momentum Media is leading the way delivering essential content to our communities, writes Alex Whitlock, director of REB.

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Demand for fixed rate mortgages falls

20 May 2019 Tim Neary

Demand for fixed rate home loans fell in April, new data from Mortgage Choice shows.

According to the company’s latest national home loan approval data, demand for fixed rate home loans fell over the month of April, accounting for 21.41 per cent of all home loans written — a reduction of 1.23 per cent from the month prior.
 
Mortgage Choice CEO Susan Mitchell said the findings are intuitive.

“While demand for fixed rate home loans hovers around its 12-month average, we could expect to see more borrowers choosing to fix in the coming months as lenders announce reductions to their fixed rate products.
 
“In their continued effort to lure borrowers, major lenders and smaller lenders on our panel have slashed the interest rates on their fixed rate home loans. ANZ announced a reduction to a range of fixed rate home loan rates last week, which follows recent announcements from CBA, NAB and Westpac as well as other lenders on our panel.”
 
Competitive

Ms Mitchell said fixed rates are well below their long-term average.

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“Which means borrowers who are seeking repayment certainty on their home loans will have access to a range of competitive deals if they commit to a fixed term.
 
“That being said, average variable rates are still lower by comparison, and as an official cash rate reduction from the Reserve Bank of Australia is on the cards, variable rates stand to move even lower, cementing variable loan popularity over the long term.”
 
Ms Mitchell said this makes a compelling case for borrowers who may want to split their home loan into fixed and variable portions.
 
The data revealed that fixed rate demand was highest in New South Wales, with this type of product accounting for almost 25 per cent of loan applications.
 
This was followed closely by Queensland, where fixed rate demand accounted for 24 per cent of all home loans.
 
Borrowers in Western Australia were the least likely to fix their interest rate, with 13 per cent choosing this type of product, followed by Victoria where 16 per cent of borrowers fixed their interest rate.
 
The most popular home loan products among borrowers were ongoing discount variable rate loans, followed by basic variable rate loans.

Demand for fixed rate mortgages falls
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