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Congratulations on having made it through 2022!

From our perspective, the year was just as turbulent as 2021, with several rounds of big interest rate increases causing a lot of anxiety. Those rate increases also meant that the affordability test banks put you through became tougher. More importantly, the pace of that toughening saw us scrambling to maintain your borrowing capacity especially if you were mid-flight through a purchase or build project! Let’s not forget the cost-of-living squeeze either.

Like many in other industries, we’ve been saddled with additional compliance with the CCCFA coming into force in December 2021. This bit of legislation made getting your hands on borrowed money much more difficult while rising interest rates made it more expensive for those who could.

It’s no wonder property values reduced and the overall market shrank. Against that backdrop, next year is going to be interesting, that’s for sure.

I’m proud of the way my team adapted to those changes. It forced us to improve our systems and processes too so we’ve actually ended the year as a more efficient business.

I’m also proud that we have completed the following for the calendar year:

  • 13 couples into their first home
  • 16 families into their next home
  • 9 new homes built
  • 6 major renovations undertaken
  • 16 top-ups, and
  • 2 Teslas purchased.

And while all that has been going on we’ve helped 200 customers with their interest rate refix decisions. So it’s been busy despite a shrinking market! What it shows is that people value advice when considering a property transaction and I’m grateful that you’ve chosen Team Hastie to help you in that regard.

We wish you a happy holiday and a safe Summer.
From Campbell and the Hastie Mortgages team.