Latest news: VIC government unveils planning reforms Capital city dwelling values continue to decline Property News Update: 4th May 2018 Your Investment Property magazine has launched the inaugural Property Investors Awards, with nominations now open.
The awards celebrate services that are integral to the property investor’s success, including agents, brokers, advisors and other specialist professions.
The full list of categories is available on the nomination form and entrants can nominate for up to three categories.
An independent panel of judges will select the winners, who will be announced and profiled in Your Investment Property magazine and online later this year.
The Property Investors Awards seek to establish a benchmark for excellence in the industry, allowing investors to reference Australia’s top performers and what they’re doing right.
Nominations close on Friday 1 June 2018.
With interest rates at their lowest for more than 50 years, there are some great rates avai..
Latest news: Nominations open for Property Investors Awards Capital city dwelling values continue to decline Property News Update: 4th May 2018 The Property Council of Australia approves of the Victorian government’s record infrastructure budget spend and investment in skills and training.
“This investment is necessary to turn the challenge of our booming growth into an opportunity for a more prosperous and liveable Victoria,” the Property Council said. It added that the government’s investment must be accompanied by long-term improvements to the planning system, which is needed to accommodate the 140,000 new Victorians annually.
“With property taxes at 48 percent of state revenue, more money can and should be directed to deliver more … diverse housing supply and transport-oriented density across metropolitan Melbourne,” said Michael Zorbas, interim Victorian executive director of the Property Council.
According to Richard Wynne, the Minister of Planning, reforms to planning will m..
Latest news: Nominations open for Property Investors Awards VIC government unveils planning reforms Property News Update: 4th May 2018 Capital city dwelling values recorded their first annual decline since November 2012, while regional dwelling values continue to edge higher, according to CoreLogic’s April Hedonic Home Value Index.
National dwelling values were 0.1% lower in April, the seventh consecutive month-on-month decline since values started retreating in October 2017.
Tim Lawless, CoreLogic’s head of research, said the declines were concentrated within the largest capitals, while regional dwelling values edged 0.4% higher.
Capital city dwelling values were 0.3% lower over the month, driven by major declines of -0.4% in Sydney and Melbourne, and a smaller decline in Brisbane (-0.1%). The declines were offset by flat conditions in Perth and subtle rises in Adelaide (+0.1%), as well as Darwin and Canberra (both +0.6%). Hobart was the only city where dwelling values rose by more..
Latest news: Nominations open for Property Investors Awards VIC government unveils planning reforms Capital city dwelling values continue to decline What's made the news this week?
Watch (or listen) as Nicola and Kevin catch up to discuss the stories that grabbed their attention this week.
1. Longest interest rate dry spell
The Reserve Bank of Australia has decided to keep interest rates steady at 1.5%
The RBA hasn’t raised official interest rates since late 2010, while rates have remained stagnant since August 2016 – the longest spell of policy inertia to date.
While last year economists were predicting interest rates to finally rise in early 2018, most backtracked and now believe a rate hike won’t occur until later this year… READ MORE
2. Is renovating worth as much as your marriage?
Home improvement is a boom industry but it might be have an unexpected casualty – your marriage.
Experienced divorce lawyer Jeremy Sutton says the cases where couples are facing financial iss..
Latest news: Nominations open for Property Investors Awards VIC government unveils planning reforms Capital city dwelling values continue to decline Residential housing affordability is under threat in Queensland due to the state government’s stamp duty hikes. According to the Australian Bureau of Statistics (ABS), the government’s take rose by $273m from FY2016 to 2017.
The state government’s coffers received a “plumped up injection” of $3.278bn in stamp duty on conveyances in FY2017, compared to the $3.005bn in FY2016, according to the Real Estate Institute of Queensland (REIQ).
“This increase means more than 25 per cent of the total taxation revenue in Queensland is coming from stamp duty on conveyances,” REIQ said. “When land tax and other taxes on property are added to the equation, more than 38 per cent of the total taxation revenue comes from property-related taxes or the equivalent to about $5 billion in FY2017.”
Meanwhile, stamp duty on conveyances revenue contribution inc..
Latest news: Nominations open for Property Investors Awards VIC government unveils planning reforms Capital city dwelling values continue to decline The Royal Commission has highlighted the need for property investment advice regulation, amidst the myriad revelations of dodgy operators and unsound financial advice, according to the Property Investment Professionals of Australia (PIPA).
While planners are subject to regulation, the provision of property investment advice generally remains a free-for-all, according to PIPA chairman Peter Koulizos. In fact, anyone can set up shop as a property investment “adviser” without any qualifications whatsoever.
“While professionals such as buyers’ agents, property accountants and mortgage brokers operate within regulated environments, property investment advice does not,” Koulizos said.
“Not many Australians understand that, which is why so many continue to be the victims of property investment ‘advice’ from unscrupulous fly-by-nighters.
Latest news: Nominations open for Property Investors Awards VIC government unveils planning reforms Capital city dwelling values continue to decline Auction volumes rose across the combined capitals in the week ending April 29, returning a preliminary clearance rate of 62.5%, according to CoreLogic’s latest Property Market Indicator Summary.
A total of 2,539 homes were taken to market, a major increase from the previous week (ending in April 22), when 1,799 homes were taken to market, returning a final auction clearance rate of 62.2% (down from a preliminary clearance rate of 63.1%).
“The combined capital city auction market has seen a relatively steady performance over the year-to-date, with the average weighted clearance rate continuing to track around the low-to-mid 60 per cent range for most of this year despite the level of activity over each week,” CoreLogic said.
Among the capitals, Melbourne led with a 65.5% preliminary clearance rate (1,326 homes were taken to auction). In ..
Latest news: Nominations open for Property Investors Awards VIC government unveils planning reforms Capital city dwelling values continue to decline New research from a national property market research firm has revealed 40 affordable locations where properties are selling faster, leading to price-increase pressures.
Propertyology analysed annual days-on-market (DOM) and sales volume data for all 550 city councils across Australia’s eight states and territories.
“There are locations in every state where buyer activity is increasing and properties are selling faster,” said Simon Pressley, head of property market research at Propertyology. “In some cases, this activity has already created price growth, and in others, it’s only a matter of time.”
The fastest-selling area is Clarence in Tasmania, with an average selling period of just 10 days, a 60% reduction in DOM compared to the same period last year.
“Growth cycles in Sydney and Melbourne are now a thing of the past. However, the f..
Latest news: Nominations open for Property Investors Awards VIC government unveils planning reforms Capital city dwelling values continue to decline New research has identified a number of Australian regions where a swing in relative demand is expected to benefit property owners.
LocationScore’s latest Property Swingers Report assessed demand versus supply across the country’s 20 largest Significant Urban Areas (SUAs). The site also highlighted the most promising suburbs in each SUA, revealing rising markets set for firming capital gains, according to Jeremy Sheppard, director of research at LocationScore.
“Concerning the target markets in our report, we’ve picked SUAs instead of suburbs because when it comes to LocationScore property swingers, size [is important],” Sheppard said. “Given the breadth of data researched, even minor changes to an SUA’s aggregated LocationScore reflect a significant shift in relative demand.”
Based on a three-year comparison, the SUAs of Bendigo, VIC; T..
Latest news: Nominations open for Property Investors Awards VIC government unveils planning reforms Capital city dwelling values continue to decline South Australia’s median price record was beaten once again in the March quarter, according to the Real Estate Institute of South Australia (REISA).
Following the release of the Valuer-General’s median house price data for the March quarter, Alexander Ouwens, president of REISA, said that the latest figures showed notable median house price growth to $470,000—a 1.08% increase from the December quarter and a “sustainable” 2.84% increase from the same quarter last year.
“It is good news that the all-time median price record continues to be beaten from quarter to quarter. Yet again has the South Australian real estate market upped the ante to post a sustainable and healthy median price,” Ouwens said.
“We are by far the most affordable and liveable city in Australia so there are still great opportunities for first-home buyers. It is great ..