Since house prices rose at the third-fastest rate in history in 2021, it's 'no surprise' that Aussies want to know what the housing market will look like in 2022.

With many experts predicting house prices will keep steaming ahead, Director of Aus Property Professionals Lloyd Edge (pictured below) believes house prices "won't decrease that much" unless APRA intervenes further.

"With our current economy and the fact that our international borders are now open, this will also drive demand," Mr Edge said.

"Taking this into account, many buyers will be looking to secure a home before the end of the first quarter to beat out the competition."

Mr Edge said a common barrier he comes across is people getting overwhelmed by the steps it takes to purchase a property. With this in mind, below are his top tips to help people comfortably get through their home buying journey.


Step 1: Strategise

Mr Edge said the first step is to know your why - as in, why you are purchasing the property - and create an investment strategy.

"Why should you have a goal? You need a reason and vehicle that motivates you to stick to your investment strategy," Mr Edge said.

"Take a moment to pinpoint your ‘big picture lifestyle goals’ – is it financial freedom, working for yourself, semi-retirement, overseas holidays, helping underprivileged communities?"

He said that once you have determined this, you can turn your dream into a concrete number and start working on your strategy.

"Next, you will determine your where, when and what to buy," he said.

"Your goal will inform this decision, for example you might buy a blue-chip property for long-term growth or you will build a duplex for cashflow."

Step 2: Secure finance

Mr Edge said that a lot of people believe you need millions of dollars to invest, but that this is 'far from the truth'.

"Getting a mortgage is not always a simple thing to do, so I highly recommend consulting a mortgage broker," Mr Edge said.

"They will assess your financial position and explain to you how banks will see it, explain the different types of interest rates, ascertain what loans are likely to suit your goals and strategy, determine the best bank and outline any changes you’ll need to make before applying for your home loan of choice."

He said that if you're doing it on your own, you need to show lenders who you are, where you are looking to buy, the type of property you want to buy, your intent in doing so, and how much you need to borrow.

"I always recommend having a strong buffer for costs, as it’s easy to underestimate - and saving enough just to cover your deposit will only lead to financial strife," Mr Edge said.

Step 3: Hire the dream team

"To successfully finance and purchase properties, and to meet a multitude of legal and practical requirements involved on time and within budget, you need to build up a dream team of professionals," Mr Edge said.

"These include a buyers agent, a mortgage broker, a financial planner, an accountant, a solicitor or conveyancer, a building and pest inspector, a quantity surveyor and an insurance representative."

Step 4: Find the right property

Mr Edge said that less than 5% of properties available are 'investment grade', and said that you should be looking for a home with the 'property trifecta': instant equity, cashflow, and growth.

"To achieve this, shortlist properties based on the following factors: good regional growth drivers, presence of several different industries, approved increased government spending in the area, transport links, low local unemployment, low vacancy rates and proximity to education and childcare facilities," Mr Edge said.

"If the property meets your budget requirements, aligns with your strategy and fits the above criteria, I would encourage you to invest or purchase. Searching can take some time, so be patient!"

Step 5: Signing and settling

"Once you’ve found the dream property, placed a bid and been accepted, contracts must be signed between you and the vendor," Mr Edge said.

"Make sure you take note of any special conditions, disclosures and insurance in your Contract of Sale (CoS)."

Mr Edge said it's also important to know what can be negotiated in the contract, such as the cooling-off period, settlement period, deposit amount, and fittings and fixtures.

"On settlement day, all representatives of the parties, including any financiers, communicate with each other to exchange legal document," he said.

Step 6: Landlord's toolkit for investors (if applicable)

If you purchased an investment property, Mr Edge said it's important to understand your responsibilities as a landlord to avoid costly mistakes, maximise your returns, and protect your investment:

"The six steps of becoming a landlord are buying a property, understanding the legislation set out by the state or territory level of government, appointing a property manager – don’t just go with the cheapest or biggest agency, finding quality tenants – screen them by running a credit check, assessing their employment and rental history and contacting their references, signing the lease and maintaining the property – it’s important to determine who pays for repairs and maintenance."


Buying a home or looking to refinance? The table below features home loans with some of the lowest interest rates on the market for owner occupiers.

Update resultsUpdate
LenderHome LoanInterest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees LVR Lump Sum Repayment Additional Repayments Split Loan Option TagsFeaturesLinkCompare
6.04% p.a.
6.06% p.a.
Principal & Interest
Featured 4.6 Star Customer Ratings
  • No monthly or ongoing fees
  • Unlimited free redraw
  • No application fee
5.99% p.a.
5.90% p.a.
Principal & Interest
Featured Apply In Minutes
  • No application or ongoing fees. Annual rate discount
  • Unlimited redraws & additional repayments. LVR <80%
  • A low-rate variable home loan from a 100% online lender. Backed by the Commonwealth Bank.
6.09% p.a.
6.11% p.a.
Principal & Interest
Featured Unlimited Redraws
  • No annual fees - None!
  • Get fast pre-approval
  • Unlimited additional repayments free of charge
  • Redraw freely - Access your additional payments when you need them
  • Home loan specialists available today
Important Information and Comparison Rate Warning

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of . View disclaimer.

Lead Image by R ARCHITECTURE on Unsplash

Lloyd Edge image supplied

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