Australian Prudential Regulation Authority (APRA) is tightening lending criteria. Announcement made 5th October 2021, many will see this as either a good outcome or a bad change. Essentially borrowers will be assessed with the expectation that they can pay for the proposed loan if interest rates increased by 3%. This boosts the ‘buffer’ by 0.5% at the time of the statement. For example, a borrower...
What is stamp duty? Here is a guide to understanding stamp duty in Victoria when purchasing a direct residential property. Before purchasing a property, it's wise to assess the stamp duty implications to ensure you can afford the total cost of buying a home. What is stamp duty? In Victoria is also known by the term 'land transfer duty'. It is essentially incurred when a buyer purchases a...
Top things to do in Geelong Geelong is among the fastest growing areas in Victoria. Many would say it is the largest city outside Melbourne. There are many things to do, both day and night. Here is a list of things to do, but in no particular order: Geelong Waterfront This popular destination is extremely popular among locals and tourists. The area features many restaurants and cafes, landscaped gardens,...
The ongoing costs of keeping a property. When buying a property, there are always necessary holdings costs. Most are aware that a loan is usually part of the purchase, so paying a mortgage is a common ongoing cost. This is very true, but in this market insight we want to share with you the type of other outgoing costs are associated to owning a property. If the property is for investment purposes...
Australian population update. Over the last few years, or even decades, the Australian population has witnessed some strong population growth. However in the wake of the global pandemic, growth numbers have fallen. With the international border restrictions that took place from March 2020, Australia’s population has increased by 35,700. The net overseas migration was 95,300 over the year to March....
Setting property investment goals is a key contributor to being a successful property investor. In this market insight we share some tips to help you establish goals that will help you advance into your investment journey. What is your motive or plan behind investing in property When investing into any form of investment, you need to understand what your motive is. Of course, we all want to...
When buying an investment property, one of the many contributors that makes property the best investment are the tax benefits achieved when implementing a negative gearing strategy. It shouldn't be the sole reason to invest in property, but its something that should be taken into consideration when making an informed decision. If you are a property investor, you've probably learnt a little about the...
Will the Delta-strain destroy the property market? The answer is NO according to the latest ANZ Bank research.Life in Australia is far from the norm, with covid-19 and the new delta-strain continuing to trouble our lives. In spite of this, the property market nationally has witnessed some strong price rises. According to recent studies conducted by ANZ Bank, the property market is likely to continue...
Top tips before applying for a mortgage. Most people need some form of mortgage to purchase a property. In this market insight we outline some helpful tips to better your situation before apply for a loan. It’s essential to obtain a loan pre-approval or gain clear understanding around your borrowing capacity. It will ensure you purchase a property within your affordability. It also helps narrow your...
Top things to do in Thornbury Thornbury is a vibrant suburb that has evolved into one of the most popular locations in Melbourne. If you are a foodie or a social butterfly, you won't be disappointed. Here is a list of things to do, but in no particular order: Welcome to Thornbury If there is anything we can think of when it comes to Thornbury, this always takes top spot. For the foodies, you have so many...