Unit demand to remain strong with continuing under-supply forecasted

Australia’s chronic property shortage is set to be one of the key issues underlying the real estate market for years to come, and will drive up the demand for units, says the government’s housing supply advisory. According to the National Housing Supply Council’s recently released State of Supply Report 2011, Australia’s overall shortage of dwellings sits at 186,800 and is projected to hit 640,000 by 2030. In terms of sheer numbers, the largest housing shortfalls are in NSW and Queensland,...
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Property investment from Super Funds rising

The popularity of investing in property through self-managed superannuation funds (SMSFs) appears to be on the up, judging by the latest statistics from the Australian Taxation Office. The ATO’s recently released Self-managed superannuation funds: A Statistical Overview report reveals that the percentage of all SMSF assets accounted for by 'real property' rose by just under 2% between 2008 and 2009 – bringing its total share of the SMSF market up to 14.7% ($48.3bn). With the report also po...
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Mortgage Refinancers Boost Loan Market Activity

More and more Australians are looking for a better deal on their home loan, with the most recent data from the ABS revealing that refinancing activity jumped by 17% over 12 months and 5% over three months. With the RBA having since instigated back to back interest rate cuts, it is predicted that real estate activity will increase further in the coming months. “The RBA rate cuts in November and December have brought forward queries of those looking to refinance and also first home buyers, p...
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Housing confidence continues to slump in NSW, VIC

Property confidence is down in Australia’s biggest states as investors look to resource-rich areas in 2012. A Property Council-ANZ survey found real estate professionals are more confident about demand from investors in South Australia, Western Australia, Queensland and Northern Territory, which are linked to major resource projects. The top performing territory in the survey was NT, which increased from 120 points in September to 145 points. Confidence in Queensland jumped 10 points from ...
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Western Sydney Property Prices to Outgrow the Nation

Western Sydney will prove to be one of the nation’s property investment hotspots next year, according to a recent report by SQM Research. The Western Sydney Regional Report, gives Sydney’s west a score of 4.25 stars out of five, and forecasts that the area will outperform most Australian regions next year. Western Sydney’s property prices are expected to grow by between 2.6% and 6.6% in 2012, says the report, thanks to various factors. These include: Significant regional development ov...
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Buying an Apartment: 5 Key Features to Look For

The timing has never been better to invest in property, with low interest rates and a depressed real estate market presenting a rash of opportunities for savvy buyers. And if you’re in the market to buy a unit, there are certain features you should look for to ensure that you stretch your dollar ever further, says Cate Dundon from www.buyersadvocate.com.au. To begin with, you need to do your research on your chosen areas using reputable data providers such as Residex or RP Data. “Targ...
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Tax Time: Possible Deductions available to Property Investors

Tax time may be a few months off, but it pays to be organised – and by getting your ducks in a row now, you can save yourself a giant headache come tax time. Also, if you know exactly what you can claim, you can actually start enjoying the savings in your pay packet each week, rather than waiting til End of Financial Year. For instance, if you know that your property-related tax deductions amount to $6,000, that equates to a tax refund of $1,890, if you pay tax on a standard 31.5% tax brac...
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Property: 10 tips for choosing the best location

Shopping for your new home or next investment property? When you’re in the market for a new piece of real estate, finding the right location is crucial to ensure strong long-term capital growth – so we’ve rounded up some advice to help you locate the best possible spot! Tip One: Know your budget For most buyers, your budget dictates which areas you can afford to live in or invest. “The best way to determine your budget is to meet with a mortgage broker or lender and obtain a pre-approv...
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Six ways to Devalue your Property

Did you know that your dodgy next-door neighbours could substantially decrease the value of your property? Bad smells, hasty renovations and noisy neighbours can all serve to lower the value of your home, according to Nicole Marsh, Licensed Buyers Agent from Eureka Property on the Gold Coast, while letting your property fall into a state of disrepair is another quick way to shrink its value. Here, Marsh outlines a few key features that can drag down your home’s value and ultimately, the sale ...
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Rental Management: Is your property manager choosing the best tenant?

If you’ve ever been to an open house for rental properties particularly in capital cities, you’ll know that it’s quite normal to see several dozen prospective tenants browsing one property.  It’s also not unusual to receive dozens of rental applications for each property. This is great news for landlords, as it means there’s plenty of demand. But here’s where problems can arise: often, the real estate representative showing the open home is not the same person who processes the application...
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Renovating Tips: 5 things you need to do first

Renovating is not for the faint hearted. Things will go ‘wrong’, it will take time and it will be messy. If you don’t like the sound of these things – don’t renovate! However, if you are super keen and just can’t wait to get started make sure that you have covered the following things before you do anything. Firstly, take a deep breath…  Then ask yourself the questions below. Write them down and write your responses down as well – you will need to refer to them during the course of the ...
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9 Steps to reach a Successful Settlement

The settlement process can be daunting for both sellers and buyers. Whether you are buying or selling, it is always good to keep everyone involved informed. Keep written confirmations of any verbal decisions and agreements. If there are any issues regarding the settlement, these will provide assurances. As for the contract itself ensure that any actions required clearly outline an understood standard. Avoid situations like the one recently where a bare brick wall was required to be render...
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Mortgages in Australia aren’t as easy as they say

The experts are trying to make the mortgage situation in Australia sound all optimistic - they think interest rates won't rise too much and they suggest that plenty of Australians are still able to cope well with an existing mortgage or to enter the home loan market for the first time. But just because Australia may not have been as badly affected by the global financial crisis as many other countries, that doesn't mean that mortgages are easy for everyone, as news this week makes absolutely cle...
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More Australians paying more rent?

Rising interest rates don't just mean that the people with the mortgages and home loans have to pay more. Sometimes I forget that an interest rate rise has a flow on effect; it's likely to start leading to rises in rental costs as well. Obviously if the repayments on an investment mortgage start to rise, the investor wants or needs to recoup those extra costs somehow, and the most obvious way to do that is to ask the tenant for more rent. Predictions are that this will happen on a wide scale ...
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Buying your first home, getting your first mortgage

I don't know which is scarier: choosing your first house, or choosing your first mortgage. Of course, these are exciting times, but they are big decisions that have a significant impact on your future, so these choices should definitely not be made lightly. It's about ten years ago that I chose my first home and my first mortgage, and I was really in a great position to do a good job at this decision. I'd grown up with a mother who was a real estate agent, and a father who was a bank manager ...
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