Recently, the Governor of Australia’s Reserve Bank forecast that the unemployment rate will skyrocket to double digits by June.
This, of course, is bad news in itself.
But when you consider that the bank’s own calculations suggest that for every 1 percentage point lift in unemployment, the mortgage arrears rate increases by 0.8 percentage points, it’s clear that a lot of borrowers could soon be at risk of default.
Millions of people could soon struggle to balance living expenses and mortgage repayments…
Like all situations in life where one door closes, another opens. In the coming months we predict that buyers will have the opportunity to potentially secure these distressed properties at up to 10% to 40% below market value – while also helping the families who’ve fallen on hard times.
In order to assist our sellers we will be trying to save them as much money as possible, especially when it comes to marketing costs. This means that money will not be spent to advertise on all of the usual websites. These properties will be listed exclusively as OFF MARKET listings only.
If you would like to sell your property “off market” without any marketing costs, please contact Tracie Harrington.
You can register your interest in by emailing us.