Category: News

Number of construction projects rose in January

Latest news: Vacancy rates jump in middle Sydney Many Australians unaware of tax deductions Agents struggling to manage price expectations CoreLogic’s Cordell Construction Monthly Data for January 2018 confirms that 1,719 development applications and proposals were added to the construction pipeline across Australia in January.
This represents a significant increase on the number of development applications captured in the previous month (+31%), reflecting what is likely a seasonal surge in construction following the holiday season.
The combined value of projects captured in the pipeline over January (including commercial, industrial, and apartments and units) was nearly $18bn. “This combined construction value is above the 5-year average of AU$13.6 billion, and was also substantially higher than the $6.4 billion recorded in December,” the report said.
Residential projects captured by CoreLogic represented 21% of the $17.9bn in work proposed over the last 12 months, with residential pr..

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Vacancy rates jump in middle Sydney

Latest news: Number of construction projects rose in January Many Australians unaware of tax deductions Agents struggling to manage price expectations Residential accommodation options in middle Sydney have hit a five-year high, with availability favouring those seeking rental property, according to the Real Estate Institute of New South Wales’ (REINSW) January 2018 Vacancy Rate Survey.
Leanne Pilkington, president of REINSW, said last month’s results saw the availability in middle Sydney rise 0.3 percentage points to 2.9%.
“This is the highest level since August 2012 when the vacancy rate for middle Sydney was at 3.0 per cent, she said. “The area has seen a significant increase in available stock and a decline in applications.”
In Inner Sydney, vacancy rates rose 0.1 percentage points to 2.1%, while Outer Sydney dropped 0.1 percentage points to land at 2.2%. The vacancy rate across metropolitan Sydney rose 0.1 percentage points, landing at 2.3%.
Hunter is also seeing vacancy rates gre..

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Agents struggling to manage price expectations

Latest news: Number of construction projects rose in January Vacancy rates jump in middle Sydney Many Australians unaware of tax deductions A survey of Sydney and Melbourne agents, conducted by auction livestreaming app Gavl, found that, after securing a listing, the most common challenge for agents is managing the price expectations of vendors.
Fifty-three per cent (53%) of agents admitted that managing the price expectations of their clients was their biggest challenge for the year, while 31% said their biggest challenge was achieving a sale price that aligned with vendors’ expectations. Just 16% of agents said that attracting an adequate number of interested buyers for a property was the most challenging aspect of the job.
Sydney agents feel greater pressure to meet the price expectations of vendors (45%) than their Melbourne counterparts (27%).
Attracting an adequate number of potential buyers to a property is particularly challenging for newer agents. Thirty-five per cent (35%) of..

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Many Australians unaware of tax deductions

Latest news: Number of construction projects rose in January Vacancy rates jump in middle Sydney Agents struggling to manage price expectations New research, conducted by Galaxy Research on behalf of non-bank lender State Custodians Home Loans, suggests many Australians could be missing out on the opportunity to buy investment property due to poor financial knowledge.
Less than half of those surveyed were aware of the main tax deductions that are claimable on investment properties. These include real estate management fees (only 44% are aware this is a deduction), depreciation on appliances (42%), interest payments on mortgages (39%), building and pest inspections (37%), depreciation on construction costs (36%), damage caused by tenants (35%), advertising for new tenants (34%), and gardening (27%).
Overall, women appear to be less aware about tax deductions on investment property than men, despite the fact that nearly half (47%) of Australians who own investment property are women.
A m..

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Inside the March 2018 edition of Your Investment Property magazine

Latest news: Number of construction projects rose in January Vacancy rates jump in middle Sydney Many Australians unaware of tax deductions It is fair to say that all property investors are looking for good capital growth and a healthy return on investment. Is it possible to get both? It is – the team at Real Estate Investar and Your Investment Property magazine have crunched the numbers to give you a list of 98 suburbs in Australia that are currently giving 10% (or more!) returns per annum.
In this podcast, Kevin catches up with Clint Greaves from Real Estate Investar.
Hear Clint outline how they decided on the suburbs, what made them stand out and what properties to buy in each one. Kevin and Sarah also talk about the suburbs and discuss an outstanding Aussie Investor success story as well. Pure inspiration!
In this 13 minute podcast you will also get details of some of the other articles in the March issue of Your Investment Property magazine, on shelves at your local newsagents now..

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Preventing illegal subletting on your property

Latest news: Number of construction projects rose in January Vacancy rates jump in middle Sydney Many Australians unaware of tax deductions Due to the growing popularity of short-term rental sites in Australia, as many as 35,000 properties are being sublet by tenants throughout the country.
While most guests who stay in short-term rentals are law-abiding and honest, unauthorised subletting could expose properties to a whole host of risks, including out-of-control parties, uninsured property damage, disorderly conduct, drug use, and other aberrations.
While property owners, building and strata managers, and property managers could manually monitor the various short-term rental sites for unauthorised sublets, the process is both time-consuming and tedious.
To address this pain point, BnbGuard recently launched the first service in Australia that monitors unauthorised subletting. According to site co-founder Reuben Schwarz, there is a strong need for such a service in the thriving real es..

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BRW Rich-Lister shares secret to property success

Latest news: Number of construction projects rose in January Vacancy rates jump in middle Sydney Many Australians unaware of tax deductions Allister Lewison, national property developer at OpenCorp, has appeared on the BRW Young Rich List for three years, jumping from a ranking of 64 to 33 in 2017. In the last financial year Lewison almost doubled his fortune, with a total of $74 million in assets, up from $42 million the year before.
The entrepreneur’s impressive rise mirrors that of OpenCorp itself, which has evolved since its inception to not only offer investment advice, but also a funds management and property development division with $500m of national projects in the pipeline.
With this evolution, the group has taken the step to rebrand its residential property development branch to Equire, and Lewison has taken charge of this new brand as director.
“Given the continued growth of the development division of the OpenCorp group of companies, it was a natural progression to create ..

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Property prices could go backwards

Latest news: Number of construction projects rose in January Vacancy rates jump in middle Sydney Many Australians unaware of tax deductions Anaemic wage growth, higher borrowing costs, and tighter lending restrictions will hamper residential dwelling price growth in 2018, according to CBRE’s Real Estate Market Outlook Australia report.
The apartment development cycle has peaked, with Brisbane and Melbourne further advanced in the cycle than Sydney.
“Given the extent of market completions to occur in 2018, vacancy is expected to increase across most markets, exerting downward pressure on rent growth,” the report said. “Sydney and Melbourne’s low vacancy rate at this present juncture make them best placed to withstand new supply.”
In the east coast capitals, where price growth has been strongest over recent years, prices could fall 5-10%. This slide is consistent with normal market downswings in the absence of material supply imbalances.
“Yields on real assets are at cyclical lows and we..

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NSW to receive nearly $1bn in social housing

Latest news: Number of construction projects rose in January Vacancy rates jump in middle Sydney Many Australians unaware of tax deductions New South Wales’ community housing industry is projected to deliver nearly $1bn in social and affordable housing by 2020, according to new data from the NSW Federation of Housing Associations.
Between 2012 and 2020, 18 of the state’s largest community housing providers would have delivered $1bn in new projects in 34 local government areas, according to the NSW Community Housing Industry Development Snapshot.
Moreover, between 2012 and 2017, the community housing industry provided 1,296 new social and affordable homes valued at $438m.
The industry is committed to delivering another 1,404 homes by 2020, bringing total investment to $963m.
Eighty-five percent of homes will be delivered via new development projects, and almost 80% will be developed solely by community housing providers (CHPs).
Areas that have been particularly hard hit by rental stress..

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More social housing should be built in VIC

Latest news: Number of construction projects rose in January Vacancy rates jump in middle Sydney Many Australians unaware of tax deductions While the Victorian economy is booming and thousands of new jobs are being created, economic growth has a dark side.
More than 40,000 people in Victoria were “evicted into homelessness” last financial year, according to data from the Australian Institute of Health and Welfare (AIHW). This figure was only 17,930 in 2011-2012.
Meanwhile, the Andrews government’s mid-year state budget forecast revealed that it expected to collect $6.57bn in land transfer duty over 2017-18, compared to $3.3bn in 2011-12.
The Council to Homeless Persons (CHP) wants the state government to use this windfall to build more social housing and prevent vulnerable Victorians from being evicted into homelessness.
In its Pre-Budget Submission 2018-19, the CHP called on the Victorian government to build 14,500 new social housing dwellings over the next five years, as well as r..

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