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Market movements & economic review – April 2024

April 8, 2024

Stay up to date with what’s happened in markets and the Australian economy over the past month.

Expectations of interest rate cuts later this year in Australia and the United States fuelled activity in the markets last month.

Australian shares reached a new record high at the end of the month, driven by mining shares with gold, iron ore and lithium all rebounding.

US markets also reached new highs during March, leaving the benchmark index up more than 10 percent so far in 2024.

Click here for our April update video.

Please get in touch on 03 9723 0522 if you’d like assistance with your personal financial situation.


Suite 2, 1 Railway Crescent
Croydon, Victoria 3136

Email: integrityone@iplan.com.au

Telephone : 03 9723 0522

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This information is of a general nature and does not take into consideration anyone’s individual circumstances or objectives. Financial Planning activities only are provided by Integrity One Planning Services Pty Ltd as a Corporate Authorised Representative No. 315000 of Integrity Financial Planners Pty Ltd ABN 71 069 537 855 AFSL 225051. Integrity One Planning Services Pty Ltd and Integrity One Accounting and Business Advisory Services Pty Ltd are not liable for any financial loss resulting from decisions made based on this information. Please consult your adviser, finance specialist, broker, and/or accountant before making decisions using this information.

Filed Under: Blogs, News

Insurance is a sound investment

March 18, 2024

Managing risk is an essential part of investment strategy to reduce the potential for losses.

Risk is not just associated with investing though – life can throw a curve ball or two and insurance is one way to manage risk in a broader context.

It’s a matter of weighing up your risks and thinking about what you would do if the worst happened. Could you afford to build a new house, buy a new car or support your family if you became too ill to work?

Various insurance products or self-insurance can help to mitigate these types of risks.

Underinsurance

While many Australians have some form of life insurance through their superannuation, the level of cover is rarely sufficient. The standard offering within the super framework is well below what your family need to live comfortably should you die or lose your ability to earn an income.

A Financial Services Council report, estimates that as many as one million Australians are underinsured for death and total permanent disability (TPD) and 3.4 million for income protection.

Rice Warner estimates that insurance cover for a 30-year-old with dependents should equal eight times the annual family income for life insurance, four times the family income for TPD and 85% of the family income for income protection. The default superannuation offering falls well short of this figure.

Home and contents

But it’s not just life insurance. There is also a fair amount of underinsurance in home and contents.

With the growing incidence of bushfires, floods and storms, protecting your home and possessions with insurance is more important than ever.

The biggest mistake is insufficient cover to rebuild your property particularly with the recent surge in building costs. You should also consider the costs associated with demolition and removal of debris, the cost of architects and builders and the need to find alternative accommodation while your home is being rebuilt.

It is important not to head for the cheapest policy as this may well fail to meet your needs. Read the product disclosure statement to make sure the cover delivers exactly what you need.

Health and travel

Health insurance and travel insurance are also important considerations.

You will pay a Medicare Levy surcharge if you do not take out private health insurance and have a taxable income above $93,000 for singles or $186,000 for a family, couple or a single parent (increased by $1,500 for each dependent child after the first child). This starts at 1% of your taxable income and goes up to 2.5%. So, it is worthwhile weighing up whether taking out private health insurance is the better option.

When it comes to travel insurance, if you can’t afford it, you can’t afford to travel overseas, according to the Federal Governments Smart Traveller website. The cost of medical care in other countries can be exorbitant and you may need to be transported back to Australia. The expenses can be enormous.

Of course, travel insurance can also help to compensate for cancelled or delayed trips and lost luggage.

Self-insurance alternative

An alternative to taking out an insurance policy is to self-insure. That means putting money aside regularly to build up a big enough fund to help keep a roof over your head or replace a vehicle.

The upside is that these funds are yours and, properly invested, can grow over time. The downside is that you may not have enough money together when a disaster happens.

Insurance can be the difference between successfully recovering from an event and changing your life forever. If you would like to discuss your insurance needs, call us.


Suite 2, 1 Railway Crescent
Croydon, Victoria 3136

Email: integrityone@iplan.com.au

Telephone : 03 9723 0522

Integrity One Facebook

This information is of a general nature and does not take into consideration anyone’s individual circumstances or objectives. Financial Planning activities only are provided by Integrity One Planning Services Pty Ltd as a Corporate Authorised Representative No. 315000 of Integrity Financial Planners Pty Ltd ABN 71 069 537 855 AFSL 225051. Integrity One Planning Services Pty Ltd and Integrity One Accounting and Business Advisory Services Pty Ltd are not liable for any financial loss resulting from decisions made based on this information. Please consult your adviser, finance specialist, broker, and/or accountant before making decisions using this information.

Filed Under: Blogs, News

Quarterly property update – March 2024

March 12, 2024

Slowly but surely: Home values are on the way up

Home values across the country have largely settled into positive territory despite interest rates remaining elevated. Perhaps it’s the talk of impending rate cuts and easing inflation that has caused prices to inch up in every capital over the quarter, except for Melbourne and Hobart.

Values gaining momentum

In the three months to February 29, CoreLogic’s Home Value Index (HVI) reported national values had risen by 1.3%. Over the same period, the combined capital cities increased by 1.2% and the combined regions were up by 1.3%.

During the quarter, Perth surged ahead jumping 5.2% in three months taking the 12-month hike in the West Australian capital to an incredible 18.3%.

CoreLogic research director Tim Lawless said ongoing financial challenges haven’t overwhelmingly dampened the Australian demand for bricks and mortar.“Housing values have been more than resilient in the face of high interest rates and cost of living pressures,” he said. “The ongoing rise in housing values reflects a persistent imbalance between supply and demand which varies in magnitude across our cities and regions.”

Home values moving forward

Historically, the major capitals of Sydney and Melbourne do a lot of the heavy lifting when it comes to housing values. The HVI demonstrated that Melbourne values had just come out of a “three-month slump” to record a modest 0.1% rise in February and in Sydney values returned to positive territory by February after recording declines late last year.

“Potentially we are seeing some early signs of a boost to housing confidence as inflation eases and expectations for a rate cut, or cuts, later this year firm up,” Mr Lawless added.

However, Mr Lawless said multiple factors are holding the domestic housing market back from a “significant rebound”.“Affordability constraints, rising unemployment, a slowdown in the rate of household savings and a cautious lending environment, are all factors likely to keep a lid on value growth over the near term.”

Eleanor Creagh, senior economist at REA Group’s data business PropTrack, was more optimistic. “Housing demand is being buoyed by population growth, tight rental markets, resilient labour market conditions and recent home equity gains. Meanwhile, the sharp rise in construction costs and labour and materials shortages have slowed the delivery of new builds, hampering the supply of new housing,” she said.

Rents still on the rise

The start of the calendar year has always been a strong period for rental growth and the beginning of 2024 has been no exception. CoreLogic figures show national rental values had risen by 0.9% in February, the highest reading since March 2023. As a result, the rolling quarterly change in rents rose to 2.4%, the highest since May last year.

Dwelling values over the quarter

Melbourne
The Victorian capital has once again recorded a median dwelling value below Brisbane at $778,941 – sitting close to the national median of $765,762. The city saw negative growth across the quarter with a -0.6% change in dwelling values, however, this last month figures moved into positive territory, up 0.1%. The annual increase for Melbourne was 4%.

Sydney
Maintaining its place as the country’s most expensive city, quarterly figures show that the Harbour City had a very subtle movement in dwelling values rising only 0.6% to $1.128 million. The annual figure demonstrates a more impressive number having jumped 10.6% in 12 months.

Brisbane
Brisbane’s median home price is now $805,593 after a quarterly increase of 2.9%, but it is a longer term picture that showcases the Queensland capital’s impressive year in property. During the 12 months to February 29, median dwelling prices jumped 15.6%.

Canberra
Sitting in its relatively new position as Australia’s second priciest city for property, Canberra had a quarterly home price movement of just 0.3% taking the current median to $840,103. Over the past year, the nation’s capital rose by 1.6%.

Perth
Often proving to be a city that dances to the beat of its own drum, Perth has leapt streets ahead over other capitals with an annual home value surge of 18.3% to a median of $687,004. It has also been a strong quarter with a local home value growth of 5.2%.

For more information about how you might be able to purchase a property in the current market, get in touch with us today.

Note: all figures in the city snapshots are sourced from: CoreLogic’s national Home Value Index (March 2024)

If you have any questions or need any information please give us a call on 039723 0522.

Nicholas Berry Credit Representative Number 472439 is a Credit Representative of Integrity Finance (Aust) Pty Ltd – Australian Credit Licence 392184.
This information is of a general nature and does not take into consideration anyone’s individual circumstances or objectives. Financial Planning activities only are provided by Integrity One Planning Services Pty Ltd as a Corporate Authorised Representative No. 315000 of Integrity Financial Planners Pty Ltd ABN 71 069 537 855 AFSL 225051. Integrity One Planning Services Pty Ltd and Integrity One Accounting and Business Advisory Services Pty Ltd are not liable for any financial loss resulting from decisions made based on this information. Please consult your adviser, finance specialist, broker, and/or accountant before making decisions using this information.

Filed Under: Blogs, News

Sorting mortgage facts from fiction

March 4, 2024

Among all the voices analysing the Australian property market, you’ve probably heard many truisms about how to secure a home loan. The real truth is that there are lots of options.

We thought it was time to correct some frequent misconceptions we hear from our clients. Hopefully this will help you identify the path to home ownership that best suits your circumstances.

Beat the deposit treadmill

A common belief is that you need the holy grail of a 20% deposit before the banks will even look at you. It may be their ideal, but they also realise it’s out of reach for many – even with the help of mum and dad. The vast majority of lenders have a variety of deposit options. These include deposits as low as 5% and, if you qualify for a government guarantee, not having to pay mortgage insurance.

Guarantor home loans are becoming more common. These allow you to avoid stumping up a cash deposit by having a guarantor (usually a close relative) pledging their home equity to cover the equivalent of your 20% deposit.

You may also qualify for the Government Equity Scheme where the government pays 50% of your home loan. This lets you to enter the market with less deposit and reduces your repayments. However, it also means the government owns half the equity in your home.

When 30 years is too long

Most people want the longest mortgage possible as it means smaller monthly repayments. Of course, the downside to a 30-year mortgage is paying more interest over the long-term. For some situations, like if you want to increase your equity quickly, it might be better to opt for a shorter term where you pay more interest each month but less over entire the length of the loan. Knowing your timeline and expected cash flow will help decide what’s right for you.

The pros and cons of fixed rates

Now that there’s serious talk of interest rates falling, people are once again seeing the value of not locking in their interest rates for long periods. When deciding on a fixed or fluctuating mortgage you need to think about your long- and short-term financial goals and cash flow.

For example, at the time of choosing your mortgage, the fixed rate is usually higher than the fluctuating rate so you need to ask yourself if you can afford it. Many buyers decide to hedge their bets by splitting between the two. You can also fix rates for different time spans. Again, in general, the longer the ‘fix’, the higher the rate.

When interest-only makes sense

Getting an interest-only loan is often seen as risky and isn’t as popular as it once was. However, some people still find them useful, especially property investors. With an interest-only loan you just pay back the interest on your home loan and not any of the capital. This results in smaller monthly repayments but limits your equity growth in the property. Some people choose to start out interest-only so they can pay for renovations or get on top of their cash flow. They then switch to an interest and principal repayment structure later on.

Pre-approval is no guarantee

Estate agents love you to have ‘pre-approval’ for a home loan. It tells them you are serious about buying and that you know your limit. Pre-approval also speeds up the buying process because some of the basic paperwork has been submitted.

What it doesn’t do is guarantee that you will get the loan. Lenders still need to go through due diligence before approving you. You also need to be aware that pre-approvals last three months. After that, you have to apply to have it renewed.

With all the advice out there, identifying your individual path to home loan approval can appear tricky, but that’s only because you have options. There is no one size fits all. So, why not start the ball rolling by having a chat with us about your goals and options. We can arm you with the facts and help you set off on your property-owning path.

Nicholas Berry Credit Representative Number 472439 is a Credit Representative of Integrity Finance (Aust) Pty Ltd – Australian Credit Licence 392184.
This information is of a general nature and does not take into consideration anyone’s individual circumstances or objectives. Financial Planning activities only are provided by Integrity One Planning Services Pty Ltd as a Corporate Authorised Representative No. 315000 of Integrity Financial Planners Pty Ltd ABN 71 069 537 855 AFSL 225051. Integrity One Planning Services Pty Ltd and Integrity One Accounting and Business Advisory Services Pty Ltd are not liable for any financial loss resulting from decisions made based on this information. Please consult your adviser, finance specialist, broker, and/or accountant before making decisions using this information.

Filed Under: Blogs, News

Market movements & economic review – March 2024

March 4, 2024

Stay up to date with what’s happened in markets and the Australian economy over the past month.

Stay up to date with what’s happened in markets and the Australian economy over the past month.

The economic indicators for February were mixed.

Inflation has remained at a two-year low, giving confidence of a possible rate cut in the coming months, and business capital investment rose in the December quarter.

However, the Australian dollar remained in the doldrums and retail figures from January remained weak, after a 2.1% loss in December.

Click here for our March update video.

Please get in touch on 03 9723 0522 if you’d like assistance with your personal financial situation.


Suite 2, 1 Railway Crescent
Croydon, Victoria 3136

Email: integrityone@iplan.com.au

Telephone : 03 9723 0522

Integrity One Facebook

This information is of a general nature and does not take into consideration anyone’s individual circumstances or objectives. Financial Planning activities only are provided by Integrity One Planning Services Pty Ltd as a Corporate Authorised Representative No. 315000 of Integrity Financial Planners Pty Ltd ABN 71 069 537 855 AFSL 225051. Integrity One Planning Services Pty Ltd and Integrity One Accounting and Business Advisory Services Pty Ltd are not liable for any financial loss resulting from decisions made based on this information. Please consult your adviser, finance specialist, broker, and/or accountant before making decisions using this information.

Filed Under: Blogs, News

Congratulations Matt & Nic

March 4, 2024

A big congratulations to Nic Berry & Matt Borg on successfully completing the 2024 Oxfam Trailwalker event!

After 25 years and raising more than $100 million to help eliminate poverty, Oxfam celebrated the final Trailwalker event last weekend. Recent extreme weather events in the Dandenong and surrounds damaged sections of the planned Oxfam Trailwalker course which necessitated route changes that made the overall route 87km. As Oxfam Trailwalker veterans, Matt (3) and Nic (2), our boys were having none of this and did an extra 13km before their official start to match the traditional length of the event!.

The team, Dbl Trouble, which included Nick Hartrup, Matthew Donald & Steve Donald completed the course in 19 hrs 58min crossing the finish line at 2.15am at Silvan finishing 17th of approximately 500 teams.

So far the team has raised $7,776 for Oxfam, and donations are still open and can be made here – https://trailwalker.oxfam.org.au/t/dbl-trouble.

Well done lads, we are very proud of you!


Suite 2, 1 Railway Crescent
Croydon, Victoria 3136

Email: integrityone@iplan.com.au

Telephone : 03 9723 0522

Integrity One Facebook

This information is of a general nature and does not take into consideration anyone’s individual circumstances or objectives. Financial Planning activities only are provided by Integrity One Planning Services Pty Ltd as a Corporate Authorised Representative No. 315000 of Integrity Financial Planners Pty Ltd ABN 71 069 537 855 AFSL 225051. Integrity One Planning Services Pty Ltd and Integrity One Accounting and Business Advisory Services Pty Ltd are not liable for any financial loss resulting from decisions made based on this information. Please consult your adviser, finance specialist, broker, and/or accountant before making decisions using this information.

Filed Under: Blogs, News

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Integrity One Planning Services Pty Ltd (ABN 59 125 846 933) is a Corporate Representative (315000) of Integrity Financial Planners Pty Ltd (AFSL No. 225051).