News Archive
21 June 2007
Home buyers get the green bug
It used to be about location, location, location -- but green-conscious house hunters now want to know where the water tank is, too. New figures from the Real Estate Institute of Victoria show water and energy-saving features are key factors when buying a home. But price still remains the most important factor in determining a purchase. The survey showed 93 per cent of Australians rate green c... read news item »
19 June 2007
Land tax sweetener for investors
Property investors will get a 6 per cent sweetener in the state budget with the 1.7 per cent land tax rate cut to 1.6 per cent from the 2008 tax year. It represents a $148 annual saving for an investor with a $500,000 block of land, down from $2516 to $2368 annually based on the $352,000 land tax threshold. The 1.6 per cent tax rate is the lowest tax rate since 1997, excluding the 2004 budget ... read news item »
19 June 2007
State Budget - A step in the Right Direction
The Real Estate Institute of New South Wales has applauded property initiatives announced in the State Budget including the reduction of land tax from 1.7% to 1.6% and the bringing forward of the abolition of mortgage duty to September 1, 2007. “The reduction in land tax duty will improve the position of property investors in New South Wales, which in turn, should eventually assist the chr... read news item »
08 June 2007
Top 10 don'ts of open homes
Here's what not to do in your attempt to entice buyers. Could presenting a dirty house for sale really lose you money? What about leaving smelly pet-food bowls on the kitchen floor or following potential buyers around at an open inspection? It's difficult to put a dollar figure on what it will cost you if you fail to prepare your home properly but some of Sydney's top estate agents and valuers ... read news item »
07 June 2007
Pressure Still on for Renters
Vacancy rates for Sydney rental properties showed little pick-up in May, giving tenants no respite from the lack of available accommodation in the city. The situation in both the inner city and those suburbs within 10 kilometres of the CBD remained static with vacancy rates of 1.3% and 1.2% respectively. In outer Sydney, the rate dropped to 1.4% - the lowest level recorded. The overall vacancy r... read news item »
09 May 2007
INVESTORS Return to Residential Real Estate
The percentage of mortgages being sold to investors has hit record levels for the second month in a row in an indication that residential property is "back in favour", a new survey shows. In April, 33.8 per cent of new mortgages were sold to investors as opposed to owner occupiers, a rise of nearly one per cent over March's previous all-time high of 32.9 per cent, according to the late... read news item »
27 April 2007
Home ownership offers the key
Leading economic indicators suggest 2007 will be ‘more of the same’ as we gallop through our 16th consecutive year of economic growth. The Westpac-Melbourne Institute leading index of economic activity – points to accelerating economic conditions for the rest of the year, potentially with economic growth rates well above average. We are certainly not out of the woods as far as ... read news item »
06 April 2007
Stamp Duty and Commercial Property Transactions
The Real Estate Institute of New South Wales has welcomed a call by the Federal Treasurer Peter Costello for the NSW State Government to abolish stamp duty on commercial real estate transactions. “Part of the original agreement with the States back when the GST was introduced was that they drop stamp duty by 2005,” said REINSW President Cristine Castle. “We urge both sides of... read news item »
05 April 2007
First home buyers are proving
Buying a first home is always a challenge, but research by Raine & Horne Financial Services shows tight affordability and an expanding variety of home loans is seeing a growing number of first homebuyers sidestep the traditional 20 per cent deposit. Gary Lees, Director of Raine & Horne Financial Services - the mortgage broking arm of the Raine & Horne property group - says “Our... read news item »
28 February 2007
The Truth About Sydney's "Renting Crisis"
For the last few months we have had an almost constant stream of media attention on Sydney’s rising rents, with sensational headlines to grab everyone’s attention. But what is really going on? Firstly, for a background on this subject please refer back to our newsletter dated 15th June 2006 “Property Investment Cycle”. This gives us a very simplistic overview of how we ha... read news item »