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Property Listings Rise

Posted on by Laze Spasevski
Vendors reduce asking prices
In good news for buyers, there's been an increase in the number of properties listed for sale, as well as an increase in the total number of properties on the market. SQM Research has reported that the number of new listings (i.e. those less than 30 days' old) in June was 1.6% higher than the month before. At the same time, the number of for-sale properties – which includes both new list...
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ATO Resolution in Resolving Disputes

Posted on by Laze Spasevski
ATO Resolutions in Resolving Disputes
A senior official from the ATO has told businesses that there are multiple resolution procedures in resolving tax-related disputes. She further said that formal disputes and litigation are not the only ways they can resolve arguments with the Australian Taxation Office (ATO). ATO second commissioner Kirsten Fish delivered a speech earlier this month. She said that there were multiple review...
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Unemployment stayed at 3.5%

Posted on by Laze Spasevski
Unemployment stayed at 3.5%
Australia’s unemployment rate has stayed at 3.5% in March. It now had a ‘3’ in front of it for 13 consecutive months. Since February 2022, unemployment has ranged between 3.4% and 3.9%. In March 2023, it held steady at 3.5% for the second consecutive month, according to the Australian Bureau of Statistics. In line with the increase in employment, female participation rates surged to a re...
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Banks Launched Anti-Scam Campaign

Posted on by Laze Spasevski
The Australian Banking Association which represents twenty-two banks (ABA) has launched a new anti-scam campaign to raise awareness about scams. This is a very topical issue, with Scamwatch receiving 14,603 reports about bank impersonation scams in 2022, resulting in more than $20 million in losses, according to the Australian Competition & Consumer Commission. The ABA ads include th...
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ATO Issues Notice to Property Investors

Posted on by Laze Spasevski
The Australian Taxation Office or ATO, issues notice to property investors. It will scrutinize their tax returns in an effort to claw back an estimated $1.3 billion in missing taxes. In a 2020-21 sample audit conducted by ATO, an estimated $9bn of tax revenue was lost due to errors and tax avoidance. According to the ATO, the most common tax errors that property investors make are: inco...
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Home Loan Refinancing Surged

Posted on by Laze Spasevski
The home loan refinancing boom, which has lasted for two years and counting, surged to record levels. Refinancing activity has dramatically increased during that time from $13.7 billion worth in February 2021 to $16.2 billion in February 2022 and, now, according to the latest Australian Bureau of Statistics data, a record $19.9 billion in February 2023. The refinancing surge started ...
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Property Downturn May Be Over

Posted on by Laze Spasevski
Property downturn may be over as Australian property prices rose 0.6% in March. According to CoreLogic, property prices rose for the first time in 11 months since April 2022. But while prices increased at a national level, and in Sydney, Melbourne, Perth and Brisbane as well, they did decline in the four smaller capitals. Among the major capitals, Sydney saw the highest increase in prope...
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Good News For First-time Home Buyers

Posted on by Laze Spasevski
There is good news for first-time home buyers as research from Domain shows that over the past year, it’s become significantly easier to save a 20% house deposit. In order to become homeowners, first-time home buyers must overcome 2 significant financial obstacles. They need to save for a lump sum deposit and they need to keep up with the monthly mortgage repayments. February 2022 data show...
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Housing slowdown – Nearing Its End

Posted on by Laze Spasevski
The housing slowdown may be nearing its end, according to new statistics from CoreLogic. While Australia’s median property price fell 0.1% during February, values then rose in some markets in the four weeks to March 15: Sydney – up 0.8% Melbourne – up 0.2% Perth – up 0.1% Brisbane – unchanged Adelaide – down 0.4% That said, it’s too early to call the bottom of the ma...
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Property Prices Set To Rise

Posted on by Laze Spasevski
New data from CoreLogic suggests property prices are set to rise. With that said, we might be near the end of the housing downturn. While Australia’s median property price fell 0.1% during February, values then rose in some markets in the four weeks to March 15: Sydney – up 0.8% Melbourne – up 0.2% Perth – up 0.1% Brisbane – unchanged Adelaide – down 0.4% Tim Lawless...
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