New Figures Show Growth in Australian Property
This year the Australian property market is experiencing strong growth as mortgage loans have increased for six straight months now. According to the Australian Bureau of Statistics, November saw a 2.5 percent increase in home loans and December reported a 2.1 percent increase.
Nsw Rent Hike Proof of Housing Undersupply
A surge in residential rents in NSW is an inevitable consequence of a massive housing undersupply, property development industry group the Urban Taskforce claims. Rent figures released this week by the NSW Government reveal that rents for three bedroom Sydney homes jumped by 10 per cent in 2010 - $40 a week - more than double the 2009 increase.
First Home Buyers to Make a Comeback
First-home buyers numbers may be on the rise again this year with a range of motivators in the market. The end of the financial top-up to the first home owner's grant took many first-timers out of the Sydney apartment market last year.
Rba Keeps Interest Rates on Hold
Home owners have been spared another rise in mortgage repayments, with the reserve Bank opting to keep interest rates on hold. At its first meeting for 2011 this week, the RBA kept the official cash rate at 4.75 per cent. Rates rose by a quarter of a percentage point four times last year, with the last hike in November.
2011 - the Year of Paying More Rent
Capital city rents are set to rise by 7 per cent this year and rose faster than inflation in 2010, putting additional strain on household budgets, new figures show. RP Data said rents in capital cities rose 4.2 per cent in the year to December, above the 2.7 per cent official inflation rate over the same period. Outside capital cities, rents rose 2.9 per cent, RP Data said.
First Home Buyers Filter Back into Market
First home buyers are edging back into the market, with new data revealing the highest number of first home purchases since March 2010.
Investors to See More Value in Property
Sydney investors could enjoy strong returns in 2011, according to SQM Research. Figures released this week by the property research house show Sydney could enjoy robust rental growth of between five and 7 per cent heading into 2011.
Ten Tips to Renovating Wisely
Renovating can be a mine-field and costs can vary widely so chose carefully between using a builder or an architect to run the show. 1. Look closely at council’s guidelines to see what you are allowed to do. For example, you may be able to add an upper bedroom in a terrace if you don’t interfere with the roof form, 2. Source building materials at auction houses or online. 3. Shop around.
Cgt Benefits a Winner for Homeowners
Capital gains tax benefits even apply to the family home when it's rented out. The capital gains tax exemption for a person’s home is extremely valuable, and as I have learnt, very generous. In a recent article I placed too conservative an interpretation on section 118-145 of the Tax Act that extends the exemption. The exemption even applies when someone rents out their home.
Holiday Homes : Bliss or Burden?
A getaway shack by the sea sounds good but sometimes the numbers don't stack up. It's that time of year again when Australians flock to the coast for much needed rest and recreation. Seduced by the lifestyle, many will dream of buying a holiday home in their special magical spot - a place they can call their own.
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