Preparing for a spring property purchase

Spring has sprung and in the property world, it’s an exciting time of year.

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Blog 11

So, what will this year’s spring selling season look like?
Property prices are still on the rise in many markets, despite the Reserve Bank of Australia’s aggressive interest rate hikes since May 2022. Property prices rose 0.7% in July – the fifth straight month of gains.
Listings are also on the increase but remain below 2022 levels. If you’re a potential buyer, you’ll need to be ready when you find a bargain this spring. Here are our tips for being ready.

Tip 1. Do your Research

The property market is continually changing. If you are looking to purchase, you should make sure you have the most recent information available so that you are confident when making an offer.
We can supply a variety of reports to help you cover your bases. Get suburb reports with all the information you need to narrow down your property search. Access property reports with valuation ranges, recent sales data and more.

Tip 2. Get your finances in order

If you find a bargain, you’ll want to be ready to jump on it. Speak to us about arranging pre-approval on your finances sooner rather than later.
Pre-approval means that a bank has agreed, in principle, to lend you a certain amount of money.
Having pre-approval gives you confidence during price negotiations with vendors. It may also give you an advantage over other buyers without pre-approved finance.

Tip 3. Find out why the vendor is selling

Understanding the vendor’s reason to sell may give you an upper hand during negotiations.
What type of settlement terms and deposit will be most appealing to them?
They may be moving interstate, or need liquidity fast, in which case they may lower their price for a shorter settlement.
Perhaps they need an extra-long settlement while they find somewhere else to live. 

Or maybe a larger deposit would make you more favourable compared to other purchasers?
Ask the real estate agent why the vendor is selling and use the information as a negotiation tool. 

Tip 4. Rally your team

If you are planning a spring property purchase, start thinking about which professionals you desire on your team.
You’ll need a reputable conveyancer or solicitor to take care of the legalities for you.
Additionally, you will need to establish building and pest inspectors to ensure the property is free of unwanted surprises like termites and structural defects. If they do discover anything problematic, you can use this during price negotiations.
As your 1st Street Mortgage Broker, we’ll compare the market and suggest a competitive home loan that suits your specific financial situation and goals.

Get in touch

Property prices are increasing in many markets, but there are plenty of opportunities available for savvy buyers.
Get in touch with your 1st Street Mortgage Broker today to arrange pre-approval on your finance and be ready to purchase your first home, next home or an investment property this spring.

Our service is completely


Yes, that’s right. You pay zero, zip, nada.

1st Street’s premium service comes at no cost to you! 1st Street is paid by the lender when your loan settles, however, this will not affect your interest rate or loan fees! It is often more cost-effective for a mortgage broker to process a loan rather than the lenders processing it themselves in-house. In fact, we often find that we can save you money by negotiating on your behalf.

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Use our online calculators to work out how much you can borrow, loan repayments, stamp duty and lots more.

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A word from our satisfied customers

Maxine Zhong
Maxine Zhong
19 October 2023
Amanda has been such an incredible support throughout our very first time going through the home loan process. Her thoughtfulness to regularly check in to make sure all our questions were answered and that all our documents were in place helped to make the whole daunting process feel seamless and easy. I could not recommend her enough - she made sure to keep us informed every step of the way and made sure all necessary documents/processes were completed well ahead of time so we never had to worry about missing any steps. She went well above and beyond her role, and I know we will definitely be coming back to her in the future, as well as recommending her to all of our networks! Thank you again, Amanda!
Mark Nesbitt
Mark Nesbitt
11 October 2023
Greg and the team provide an outstanding service. Highly recommended
Christine Tran
Christine Tran
23 September 2023
Yuval handled my first ever home loan, he did such an amazing job I asked to him to refinance for me 2 years later. Yuval made everything very easy for me, and will give his best recommendation as if it was his own. Would always recommend Yuval :)
David Petrini
David Petrini
25 August 2023
Yuval Bloomfield was an absolute delight to work with. He made it extremely easy for my clients to discuss about their financial situation. With Yuval's strong connections he was able to get the loan my clients wanted in very quick time. Will definitely refer Yuval again.
Sophie Linehan
Sophie Linehan
24 August 2023
Greg and the team at 1st Street were fantastic all the way through the process of getting our financing sorted and buying a new home. They not only secured us the most competitive mortgage in the market but they also gave advice on a number of mortgage-adjacent questions that came up along the way. Their responsive and thoughtful guidance helped make the nail-biting process clear and calm. We would definitely recommend their services.
Gabrielle Scott-Jones
Gabrielle Scott-Jones
18 August 2023
Greg and his team gave me exceptional advice and support. They were timely and detailed in their responses and dealt patiently with me as a first home buyer and all of my questions. The lender at the bank commented on how well I was being looked after compared with other brokers in the market. I’d highly recommend 1st Street to anyone, including friends and family.
Eli Simic
Eli Simic
15 August 2023
Great communication and fast service
Richard Kuipers
Richard Kuipers
11 August 2023
Jeremy and his team are superb. Negotiated the best deal for us and were an absolure pleasure to work with. Highly recommended, you can't do any better in my opinion.
Jordan Rivkin
Jordan Rivkin
1 August 2023
The team at 1st Street truly are professionals. I can't recommend Jeremy highly enough, he is extremely competent and just a great guy. You're in safe hands with 1st Street!
Yossi Bengida
Yossi Bengida
23 July 2023
Another amazing job by David and Bree. Always available for our questions, helpful and just 10/10 Seriously good work !! See you on the next one :) Yossi and liz