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Home Value Index Continues to Rise

This month CoreLogic released its latest report on the health of the Australian housing market, recording a rise of 1.5% in the national home value index in September, taking Australian housing values 17.6% higher over the first nine months of the year, and 20.3% higher over the past 12 months.  The annual growth rate is now tracking at the fastest pace since the year ending June 1989.

Every capital city reported … Read the full post »

Rule Changes to Ease Rising Household Debt

The Australian Prudential Regulation Authority (APRA) has increased the serviceability buffer in response to concerns around rising household debt levels throughout the nation; advising authorised lenders that when assessing a new borrower’s ability to service their loan payments to work on an interest rate at least 3% higher than the current product loan rate. The previous buffer in place was 2.5%.

APRA Chair Wayne Byres said that whilst they have strong … Read the full post »

Queensland: Australia’s Most Active Property Market

According to the research by the online property exchange network PEXA, more homes were bought and sold in Queensland over the last quarter than in either NSW or Victoria, for possibly the first time in history.

With COVID-jaded Sydneysiders and Melburnians buying up big in the Sunshine State, as well as locals splashing out for their own sea and tree changes, $42 billion worth of property was settled from July to … Read the full post »

Buying Your First Home: 6 Useful Tips

There can almost be nothing more exciting than purchasing your first property; but along with the adrenalin can also come some trepidation – it is a huge financial commitment, the biggest most people make in a lifetime.

Below we have outlined some useful tips to prepare yourself and as a consequence make the process less stressful and daunting, and much smoother.

Pre-Approval: Once you’ve made the decision to enter the market, … Read the full post »

Multiple Offer Situations

The robust state of the property market in key hot spots, such as the Sunshine Coast, is pushing prices upwards, mainly driven by the strength of demand in relation to supply, leading to many sellers (and buyers) facing a multiple offer situation.

It is important that both parties – buyers and sellers, understand what the real estate agent’s obligations are in this scenario, within a legal and ethical context.

Agents have an … Read the full post »

Assistance for First Home Buyers

With housing affordability at crisis levels – for both renters and buyers, the Federal Government recently announced the extension of the New Home Guarantee, and the establishment of a new program called the Family Home Guarantee, to assist people to purchase their first home.

10,000 First Home Loan Deposit Scheme places are available for the 2021-22 financial year; and an additional 10,000 New Home Guarantee places will be available also throughout … Read the full post »

Easements Explained

When buying real estate, particularly for the first time, you sometimes come across some unfamiliar terms, one of them being ‘easement’; we get frequently asked about easements and what they mean.

The legal definition of an easement is “the right to cross or otherwise use a portion of someone else’s land”.   Sometimes the easement is perhaps land that contains essential services; buyers can usually find the necessary information on the location … Read the full post »

Hold on Property Tightens Nationally

Australian homeowners are holding onto their properties for longer than previous years according to CoreLogic; 10 years ago, the average length of time Australians stayed in each property they owned was 7.5 years for houses and 6.5 years for apartments.

The latest analysis by realestate.com.au reveals the average hold time across both houses and units is around three years longer than it was a decade ago.  As of late 2020, we … Read the full post »

Apps to Help you Save Money!

Saving for a house deposit is certainly not easy, particularly in an environment of rising property prices and low wage growth; budgeting is a ‘must’ and there are various ways of doing this from the old-fashioned writing down a checklist or setting up a spreadsheet…and now there are also a number of apps available to assist you to save.

Quite a lot have emerged in recent years, and each adopt a … Read the full post »

Still a Seller’s Market!

Despite the disruption the global pandemic continues to inflict on freedoms and the economy, the Australian property market is still going gangbusters, with home sales continuing to outpace new listings.

According to CoreLogic, the sales-to-new listings ratio hit 1.4 over the three months to July, meaning that for each dwelling added to the market, more than one gets sold.  This ratio has trended ever since June 2020 when the Federal Government … Read the full post »

Investment Property: Tax Deductions

Well, we are now six weeks into a new financial year, which means (if you haven’t already) it’s time to think about submitting your tax return.  If you are an investor with a rental property (or properties) there are deductions you can claim for against some of the expenses you incurred during the past financial year.

It is important to note you can only claim deductions for expenses that relate to … Read the full post »

Olympic Fever…What Will it Mean for Property Prices!

Well, despite COVID19 and all that accompanies it, re: lockdowns, border closures etc – the Tokyo Olympics (so far) has been an amazing spectacle, and Australia has achieved some of its best results ever.  Well done Team Australia, and well done to Japan for hosting this complex international event in the midst of a global pandemic.

Unless you’ve been under a rock, you’ll now know that Brisbane has secured the 2032 … Read the full post »

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