From 1st July 2022, many home lenders will offer the federal government's low-deposit housing scheme assistance program. From 1 July, 40,000 new places under the Federal Government’s Home Guarantee Scheme (HGS) will become available to help Australians to buy their own home. To be eligible for the HGS you need to qualify with the below: Your household income must be less than $125,000 for...
The Australian property market surpassed the $10 trillion dollar mark early this year. The Melbourne property market represents a large proportion of the Australian real estate. Melbourne has many popular suburbs with a number of reputable suburbs part of the million dollar club. Toorak continues to hold the top spot increasing to a massive $5,550,000. Second place was Brighton with $3,700,000 and East...
Top things to do in Ringwood Ringwood has become a well regarded established suburb. It's become a very good employment hub, while its filled with many amenities and recreational activities. The suburb is well suited to families of all ages. Here is a list of things to do, but in no particular order: Eastland Shopping Centre Eastland Shopping Centre is situated in the heart of the suburb. Perhaps some...
Melbourne ranked top ten (10) liveable cities. According to the 2022 Global Liveability Index recently released by the Economist Intelligence Unit (EIU), Melbourne is the only city in Australia to reach the 10. The EIU ranked 173 cities around the world on a variety of factors, including health care, crime rates, political stability and infrastructure to name a few. Melbourne officially came in...
As we hit half way in the 2022 calendar year, the Melbourne property market only saw half of the suburbs from last quarter achieving a double digit growth appreciation. However there were many suburbs increasing above the average long term growth rate. Here we focus and share the latest quarterly figures within the Melbourne property market. Top growth suburbs by median house price Here is a current list...
Rental Market Snapshot: The Melbourne property market has seen a huge decrease in vacancy rates since the Reserve Bank of Australia (RBA) increased interest rates for three consecutive months. There are economical opinions that there may be some more movement in interest rates as we approach the end of 2022. This has influenced vacancy rates to decrease significantly however Rental yields have remained...
The Australian Taxation Office (ATO) are to target property investors. The Australian property market has been steadily growing for the last decade. Property investors have been able to utilise various practices to reduce their tax and increase their rental return. However, some of these investors might not comply with the law. The ATO has decided to look closely at all income and tax deductions from the...
The benefits of a rear loaded home. There are many house designs created to cater many different forms of land sizes. Pricing affordability has also introduced a number of different house and land packages to meet buyer's budgets. Rear loaded homes are one of these great solutions that are being warmly received by buyers. What is a rear loaded home? A rear loaded home is when a garage is situated at...
What is a planning permit? In this market insight we discuss the planning permit process and why its an important aspect to any new build. There are many planning permits that apply to both residential, commercial and various home imprisonments or renovations. In this market insight we will discuss the aspect of managing a brand-new home on a vacant block of land. Prior to commencing a home build, you'll...
Property values doubled in the last seven years. Back in June 2014, the combined value of all the residential properties in Australia was valued at $5.1 trillion. That figure has now amassed to exceed the $10.0 trillion mark for the first time. According to the latest data from the Australian Bureau of Statistics (ABS), as of March 2022, the combined value of all the residential properties in Australia...