Boom for home buyers if credit restrictions are lifted – such as & # 39; High-rise Harry & # 39; Triguboff scraps off his Meriton apartments in the aftermath of the elections
- Meriton magnate Harry Triguboff has scrapped the discount for his apartments
- He expects real estate prices to rise after the unexpected coalition election victory
- On average, households could get $ 60,000 more for a $ 1 million loan
Financial regulators have raised credit restrictions for property buyers, allowing Australians to take out larger home loans.
On average, households could get $ 60,000 more for a $ 1 million loan under the new rules, the Australian said.
Australians will be able to borrow nine percent more than before, because banks can borrow more money and interest rates will be lower.
Buyers of first homes are expected to benefit from the fact that they already enjoy lower house prices and mortgage rates.
Meanwhile, Meriton magnate Harry Triguboff claims that the demand for his Meriton apartments has risen explosively following the coalition's unexpected election victory.
Meriton magnate Harry Triguboff said that after the amazing election victory of the Coalition there is a huge wave on the real estate market. He is depicted with his Ronda (right) and Victorian Premier Daniel Andrews in the foreground
The billionaire, 86, has scrapped the 10 percent discount on thousands of apartments on the east coast of Australia in the wake of the shock result.
Mr. Tirguboff is a real estate developer with the nickname & # 39; high-rise Harry & # 39; and is one of the richest people in Australia.
He believes he can sell 30 apartment units a week after selling only five a week in January, while the housing market slowed down drastically.
Financial regulators lifted the lending for first-home buyers on Tuesday and interest rate cuts are expected to breathe new life into the real estate market.
Mr Triguboff expects house prices to rise, as he has already seen buyers who have broken up his apartments since the elections.
& # 39; The buyers did not know if they should go ahead or not, but as soon as they saw the results of the elections, they went ahead & he said to ABC & # 39; s The Business.
& # 39; The way Labor conducted it wanted people to lose money and nobody wants to lose money. & # 39;
He supported potential interest rate cuts that would come as soon as two weeks after the Reserve alluded to the move.
& # 39; I think it will be very good (interest rate cuts). "It will be a great help to the real estate market, which is very weak," said Mr. Triguboff.
& # 39; It will give hope or it will give people reason to buy and not to withdraw and not to think. & # 39;
He said buyers from China and Hong Kong had recently bought apartments in Surfers Paradise after the election result.
& # 39; We already feel the difference, & # 39; he said.
Mr Triguboff expects house prices to rise, as he has already seen buyers who have broken up his apartments since the elections. He is shown shaking hands with former Prime Minister John Howard
The billionaire, 86, owns Meriton apartments (pictured) for sale on the east coast of Australia
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