Should I buy a house in Australia now or wait for mortgage rates to go down? - expert insights.

Several experts anticipate the Reserve Bank will begin lowering interest rates in the fourth quarter of 2024. So, if you want to enter the market, should you buy now or wait for mortgage rates to go down?

Deciding whether to buy a house now or wait for potential interest rate changes is a crucial decision that hinges on various factors. Our expert insights delve into long-term growth, economic outlook, affordability, and mortgage options to guide your decision:

1. Long-term growth perspective:

  • Nicola Powell, Domain's chief of research, advocates a strategic approach. Viewing property purchases as part of a broader wealth-building strategy to set the stage for long-term financial prosperity.
  • As Powell wisely suggests, 'When you’re purchasing a property, you are going to ride multiple property cycles, and that’s how you build financial wealth.” The complexity of housing markets underscores the importance of buying when it aligns with your individual needs.

2. Interest rate and economic outlook:

  • Stay informed with a keen eye on forecasts and economic indicators. A stable or improving economy may signal potential interest rate rises, while a less robust economy could prompt central banks to consider holding or lowering rates.
  • In the ever-evolving economic landscape, an informed view on these changes becomes crucial when deciding whether to buy a house now or wait for potential adjustments in mortgage rates.

3. Affordability and budget:

  • Assess your financial health. Consider job stability, income growth, and any existing debt when determining affordability. Budgeting extends beyond the purchase price to include ancillary costs such as maintenance, property taxes, and insurance.
  • Understanding your budget links your financial comfort with the entire cost of home ownership. Analysing your financial status thoroughly is necessary in order to make an informed decision.  It’s important to account for not just the monthly loan repayments, but also the additional costs of maintaining the property such as strata fees / council rates and levies, repairs and maintenance, insurance etc.

4. Mortgage Options:

  • Exploring tailored mortgage options becomes paramount. Aussie Expat Home Loans can guide you through diverse loan products, interest rates, and terms, ensuring a solution perfectly aligned with your unique circumstances. Mortgage options available to expats or non-resident Australians are not always obvious but we make it simple.


Deciding whether to buy a house now or wait for potential interest rate changes involves a delicate balance. Your unique circumstances and ambitions shape this decision. Contact Aussie Expat Home Loans today, and let's discuss your specific needs. We're here to provide personalised financing choices tailored to your homeownership goals.

Source: © Aussie Expat Home Loans

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