News Archive
07 April 2009
Reserve Bank cuts interest rates to 3pc
THE Reserve Bank has cut interest rates to 3 per cent, giving homeowners a boost as Australia's jobs outlook deteriorates. The move takes the official cash rate to the lowest point since 1960. But there's no guarantee the cut will be passed on to homeowners by the nation's big banks. The cut, if passed on in full by banks to customers, would reduce the monthly repayment on an average ... read news item »
04 April 2009
Oh to be a first homebuyer...
I don’t know about you but when I bought my first home, there was no such thing as a government handout. That of course changed on July 1, 2000 when the First Home Owner Grant (FHOG) was introduced. Under the FHOG scheme, a one-off grant of up to $7000 became payable to first homeowners who satisfied the eligibility criteria. Then last October the Rudd Government announced the F... read news item »
04 April 2009
Scrapping provides extra deductions for renovators
Having dual depreciation reports drawn up before and after a renovation job can help investors claim thousands of extra dollars in deductions, according to BMT Tax Depreciation quantity surveyors. The first report is conducted prior to any renovation or refurbishment, identifying the value of all plant and equipment and qualifying capital expenditure contained within the property, BMT’s ne... read news item »
31 March 2009
Your house is safe, RBA says
Australia's house prices will hold up better than those overseas, despite the slumping economy, the Reserve Bank said, largely because of the quality of the loans underpinning the market. "We continue to believe that the market here will hold up better than overseas,'' RBA deputy governor Ric Battellino said in a speech to the Urban Development Institute of Australia in Brisbane. "Th... read news item »
23 March 2009
Race on for investment properties
PROPERTY buyers . . . on your mark, get set, go. The race is on for residential investment properties before the competition gets too hot, according to two national forecasters. Record low interest rates and record high rents mean for many investors their new rental properties will be profitable from day one - without relying on negative gearing. However, the same conditions also make buying a... read news item »
17 March 2009
Beefed Up Grant Sees Kippers Given Marching Orders
Up to 95% of KIPPERS (Kids In Parent’s Pockets Eroding Retirement Savings) are being encouraged by parents to take advantage of an enlarged First Home Owner Grant as a way of getting into their first home and out of mum and dad’s hair. In Sydney’s east, Paul Spanoudakis, proprietor of Raine & Horne Maroubra says properties are walking out the door in the wake of fi rst home... read news item »
13 March 2009
Point of view: First home-buyers
The number of new housing loans rose by 3.5% in January. The value of construction loans increased by 2.5% while loans for the purchase of established dwellings rose by 3.9%. The average new home loan stood at $251,100, up 7.4% on a year ago. First home buyer interest remained strong, with 38,687 contracts being signed in the three months to January – the best three month result since Febr... read news item »
13 March 2009
Save now and you won't pay later
NOTE: The First Home Owners Grant (FHOG) is scheduled to terminate on June 30. The deadline could be extended, pending a decision scheduled for release in May. Saving for a deposit can be tough in today's climate. Meeting day-to-day living expenses and other regular financial commitments can make spare cash hard to come by. Lower interest rates, ... read news item »
13 March 2009
First Home Owners Boost
Buying your first home has never been more achievable. There has been a lot of talk recently regarding changes to the First Home Owners Grant. But what does it mean for you? Are you even eligible? We answer all of your questions, so you can start worrying about more important things, like what colour to paint the feature wall. If you are a first home buyer, you may be eligible for additional... read news item »
12 March 2009
Government resists requests to extend first-home buyers grant boost
THE Government is resisting requests to extend its highly successful increase in the first-home buyer's grant, raising fears of a housing slump once the scheme is terminated on June 30. A record 26.5 per cent of new home loans went to first-home buyers in January, and the scheme appears to have reversed a five-year decline in the new home building industry, softening the effects of the reces... read news item »