Who really uses negative gearing? Nurses, teachers, clerical staff

The Property Council of Australia refutes claims made today that average Australian workers are not the main beneficiaries of negative gearing.   The latest available data from the Australian Taxation Office is indisputable and it shows that some of Australia’s most valued, but lower paid workers are the primary beneficiaries of negative gearing.   This includes the 42,000 nurses, midwives and aged care workers, 62,000 teachers and child carers, 12,300 emergency service wor...
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RECORD HIGH LEVEL OF NEW HOME BUILDING HELPS HOUSING AFFORDABILITY

The latest ABS Building Activity data released today shows that 2014 was a bumper year for new residential construction with the value of work and number of building starts both recording double digit increases in the year to December, seasonally adjusted. New residential dwelling commencements jumped 17.9 per cent year on year hitting 197,972 in seasonally adjusted terms for 2014, despite commencements for the quarter falling by 10.6 per cent. The value of new residential building work ...
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NAB helps first home buyers get a foot in the door

National Australia Bank analysis shows first home buyers are increasingly turning to their families for help to achieve their home ownership dreams. NAB’s research has found that 6.7 per cent of first home buyers are now using the NAB Family Guarantee to get a foot in the property market – up from 4.8 per cent in 2010. Customers in the Northern Territory and Tasmania accessed the NAB Family Guarantee the most, with 14.3 per cent and 12.1 per cent respectively of first home buyers taking up...
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Interest Only Home Loans – for Investors or Everyone?

There's been a lot of talk about this type of loan structure lately, with industry heavyweights such as John Symonds (Aussie Home Loans) and Mark Bouris (Yellow Brick Road) weighing in on the topic. Symonds went as far as calling for a ban this type of loan, whereas many, such as Bouris consider it effective when used correctly, in tandem with professional financial advice. With a normal loan, each monthly payment would consist of an amount that's paid off the debt (principle) and the interes...
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What’s the difference between a buyer advocate and a real estate agent?

You’ll see them at open for inspections and auctions. In their orange vests and badges, clutching Ipads and clipboards, they are checking out houses for clients. ?Mal James of James Buyer Advocates (he’s the one in the checked hat) and his team specialise in finding properties in the $1million plus range for clients. Buyers’ advocates do not sell real estate. They act solely in the interests of the buyer. The real estate agent, in contrast, acts for the seller. While the role of the buyer ...
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Good news for aspiring property buyers in Melbourne and Sydney

Aspiring property buyers in Melbourne and Sydney will soon have the opportunity to minimise those necessary but pesky property inspection costs when buying a home. https://vimeo.com/121581102 Easy Inspect, a Melbourne based startup, aims to use its platform to pool interest and crowd-source property inspection resources to drive down the cost of property pre-purchase inspection services which, for a combined structural and pest report, market price currently stands at around the $600 mark....
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9 Million New Homes To Meet International Report Projections

“Australia will need more than 9 million new homes to meet the needs of the population projected in the Intergenerational report released today,” Wilhelm Harnisch CEO of Master Builders Australia said. “The nation will need to more than double its current housing stock over the next 40 years to accommodate the expected 1.3 per cent in annual population growth,” he said. “The key challenge will be to tackle intergenerational housing affordability in order to preserve home ownership as a fun...
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Realestate.com releases Apartment Hotspots List

Victoria has had the most searches for off the plan apartments nationally over the past three months, according to realestate.com.au’s New Apartment Hotspots list. . The following ten Australian suburbs have had the most views for off-the-plan apartments in the past three months: 1. Collingwood (VIC) 2. Hampton (VIC) 3. Lane Cove (NSW) 4. Mosman (NSW) 5. Melbourne CBD (VIC) 6. Brisbane City (QLD) 7. Rhodes (NSW) 8. Wollongong (NSW) 9. Carlton (VIC) 10. Richmond (VIC) Victoria has...
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Overseas Buyers Creating ‘Seismic Changes’

A Federal Government proposal to charge foreign buyers application fees each time they buy property in Australia is ‘tickling around the edges’ - and it won’t tackle the ‘seismic’ changes in Melbourne’s housing market. Mal James of James Buyer Advocates in Melbourne says 50 to 75 per cent of properties on the books of some real estate agents are now being sold to overseas buyers. He says the latest Government proposal won’t slow the influx of international buyers snapping up properties in Mel...
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Sydney land prices now rising faster than houses

21 February 2015: Sydney’s median residential land price increased by 19.7 percent over 2014 and the city clearly remains the most expensive of all the state capitals, according to data from the Domain Group. The December quarter median land price of $390,000 was well ahead of Melbourne at $245,000 and Brisbane $237,950. Dr Andrew Wilson, Senior Economist, Domain Group, commented; “Sydney’s annual land prices increased at the fastest rate in over a decade and recorded stronger growth than...
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This Week in Mortgage News

Centrelink reverse mortgage scheme is just for the wealthy A little-known government reverse mortgage scheme trumps those offered by the private sector in many respects, but curiously, the government scheme is only available to better-off retirees. Read more: http://www.theage.com.au/money/super-and-funds/centrelink-reverse-mortgage-scheme-is-just--for-the-wealthy-20141002-10p4tt.html Home loan interest rates continue to fall on fixed and variable mortgages, but be ready for a rise Savvy h...
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Making News This Week – 27/6

Give mortgage brokers the respect they deserve: MFAA Read More The MFAA has demanded that APRA back down from its claim that third-party loans are riskier than loans from other sources. The MFAA has now responded with an official submission that calls for APRA to withdraw such comments from its final version of the guide. Housing costs, mortgage stress in Perth cripples families Read More A recent survey reports that thirty per cent of WA Speaks respondents said they were lucky to have $100...
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Whats Making News this Week

Heres a roundup of whats making headlines this week: Mortgage brokerage on top Broker News Australia Aussie Home Loans took out the Mortgage Broker of the Year award for the seventh year running at the 2014 Asia-Pacific Banking & Finance Magazine Awards. Pending Home Sales Miss Expectation Business Insider Australia Pending home sales climbed 0.4% month-over-month in April. This missed expectations for a 1% rise. On the year, pending home sales were down 9.4% worse than expectation...
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In the News This Week

Links to some of the stories making headlines this week: Coles faces long road to home loan success Supermarket giant Coles is possibly seeking a banking licence ... Read more at: www.smh.com.au/... Frequent flyer points the new property trend The Macquarie Bank Flyer Home Loan offers the mortgage holder 10,000 Qantas Points on their loan at the time of settlement and more ... Read more at: www.propertyobserver.com.au/... Westpac offers $1500 to new customers Westpac is now offering cashba...
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Tax Tips: Switching Your Home into a Rental Property

There are many reasons why homeowners may choose to change their current principal place of residence (PPOR) into an investment property. Perhaps they are looking to upgrade to a larger – or perhaps downsize to a smaller – model, and wish to retain the original property as an investment, or maybe they have been geographically relocated due to work obligations. Regardless of the reason, there are numerous factors that homeowners, and subsequent investors, should be aware of when making the switch...
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