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# Finance: Melbourne Historical Property Price

1. Investigate the historical housing price data for Sydney or Melbourne and make an appropriate forecast of the housing price for the next 20 years. Clearly state the assumptions you make in order to obtain the forecasts of housing price and justify your assumptions by providing convincing arguments.                             Historical housing price data are available on the ABS website.
1. Investigate the historical income data for Sydney or Melbourne and make an appropriate forecast of the income of your client for the next 10 years. Clearly state the assumptions you make in order to obtain the forecast and justify your assumptions by providing supportive arguments.
1. Calculate the nett income of your client, given that she is single and does not have dependent. You can use the ATO tax Calculator to determine the nett income. Make a realistic assumption on the monthly expense of your client and determine the capacity of monthly repayment of your client. Find out the most favourite current home loan rate, and determine the maximum amount your client can borrow at the best rate.
1. Usually, a bank will finance only up to 80% of the property value, i.e. the buyer needs to pay upfront 20% of the property value. Alternatively, if the upfront payment is less than 20% buyer needs to pay mortgage insurance. When purchasing a property you need also to consider the stamp duty that is associate with property purchase. You can determine the amount of stamp duty with online stamp duty calculator. What is the house price your client can afford now?
1. Since current interest rate is at its historically low. In the coming years, the mortgage rate may increase to 7% and stay at the level for several years before it goes down again. Assuming that the mortgage rate will increase to 7% in the third year after purchasing the house, what is the impact of the increased interest rate on your financial plan? Show the impact on the excel table of your financial plan. Can your client withstand this increase in interest rate? How would you advise your client to manage this risk?
1. Based on your analysis above, write a report with financial plan to your client detailing what are the assumptions underlying this financial plan, when the “Austrian Dream” can come true, and what are the potential risks entailed by the assumptions and how the risk is managed in the financial plan.

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