News Archive
30 March 2008
Hope for first home buyers
First home buyers might be facing the lowest level of housing affordability on record but that doesn't preclude them from entering the property market at another level. It is not uncommon for people to buy an apartment or house in an area they don't want to live in and rent it out while they stay at home or rent something themselves for less than it costs to cover the loan. A foot in the do... read news item »
27 March 2008
Boom and bargain
It's not just about location. For people trying to get a foothold in the Sydney property market, timing is just as important. And now the timing is just about perfect if you're looking to invest in property, according to Steve Martin, president of the NSW Real Estate Institute. "Timing is everything in buying real estate, and the good players, and the ones that have been successful in inv... read news item »
20 March 2008
Vigil to mark Earth Hour
ON the eve of Earth Hour 2008 the news is not good for planet. The Federal Government is warning of the "biggest shake-up in the economy in decades" to deal with climate change in Australia. The United Nations recently published a disturbing new report showing the world's glaciers are melting at an alarming rate. United Nations environmental program manager Achim Steiner has warned... read news item »
19 March 2008
Landlords' tax bonanza
The popularity of negatively geared rental housing, and its cost to taxpayers, continues to balloon. More than a million Australians claimed they lost money on renting out homes in 2005-06, resulting in a collective tax break to them of $3.5 billion, the Australian Taxation Office has revealed. In the same year, only half a million people reported having made money on renting out p... read news item »
17 March 2008
Ten things to watch out for when buying a house
Sydney auction clearance rates are off to a slower start this year as buyers are clearly spooked by the prospect of rising interest rates, the credit crunch and a slowing economy. Last weekend, the auction clearance rate was 49.9 compared with 60.4 per cent for the same time last year. These figures include properties that have been withdrawn from sale, says Michael McNamara, general manager... read news item »
17 March 2008
More is less: The danger of overcapitalising
At one extreme, the top end, it's not that hard to spot a house that's been overcapitalised. Towering over the neighbours, it's the sort that has everything money can buy - a home theatre, swimming pool, tennis court perhaps, and fittings and fixtures that would befit a palace - and looks dramatically out of step with surrounding properties. Take it down a few notches and overcapitalising - ... read news item »
17 March 2008
Budget busters
Anyone who has ever renovated knows how horrifyingly expensive the whole process can be. Whoever dreamt a bathroom tap could cost the same as an air fare to Bali, or that the price of a medium-sized kitchen compares with that of a medium-sized family car? Renovating is expensive at any time, but especially now, with interest rates on a steady upward climb, and inflation keeping building mate... read news item »
17 March 2008
Bring in the green
Environmentally friendly houses and apartments sell more quickly and appeal to new home and apartment buyers, according to Stockland Apartments sales and marketing manager Peter Chittenden . "The market is clearly telling us that people want sustainable places to live," he says. "Today we try to build complete laundries so people can dry their shirts on a rack rather than rely o... read news item »
13 March 2008
High price of an empty nest
PARENTS desperate to untie the apron strings are increasingly agreeing to family equity loans as a polite way of saying goodbye. Mortgage Choice corporate affairs manager, Warren O'Rourke, said rising house prices in the major cities had seen the popularity of unconventional mortgages soar. Family equity mortgages usually use the parent's home as security to support a loan application by an... read news item »
10 March 2008
A new look at mortgages
Interest is growing in this loan with a twist, writes Barbara Drury. Rising mortgage interest rates and low housing affordability are stretching many household budgets to their limits and providing fertile ground for innovative home loans. Savings & Loans Credit Union reports a sharp rise in the popularity of its 40-year mortgage (launched in April last year), especially among young firs... read news item »