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Victoria Extends Stamp Duty Concession

Posted on by Laze Spasevski
Victoria Extends Stamp Duty Concession
  Victoria delivers amazing news for all off-the-plan homebuyers as it extends the off-the-plan stamp duty concession for another 12 months—boosting housing affordability and driving new construction. The Allan Government initially introduced this concession in October 2023 as part of its Housing Statement, with an original end date of October 2025. However, the 2025/26 Victorian St...
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Homebuilding Approvals Hit 2-Year High

Posted on by Laze Spasevski
Building approvals hit two-year high
Homebuilding approvals are heading in the right direction as it hit a 2-year high, opening up the possibility of more residential construction activity in the near future. According to the Australian Bureau of Statistics, a total of 16,579 approvals were issued in January. This marked a 6.3% month-on-month increase and 21.7% year-on-year increase. This increase was also the highest monthly ...
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Rate Gap Highlights Need for Regular Loan Reviews

Posted on by Laze Spasevski
 Rate gap highlights a need for regular loan reviews as results on Finder, a comparison website, shows a gap between the average variable interest rate and lowest variable rate of 1.57 percentage points in early March, while the gap between the average and lowest fixed rate was 1.37 percentage points. It is very important to note that interest rate comparisons are not always equal, and some loa...
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ATO Warns Investors

Posted on by Laze Spasevski
ATO Warns Investors.
The ATO (Australian Taxation Office) warns property investors it will pay close attention to their reported income and deductions this tax time. Based on official data, 90% of investors make mistakes on their tax returns. ATO assistant commissioner Rob Thomson emphasized the importance of correctly categorizing expenses related to rental properties. He said that general repairs and maintena...
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Commercial Sales Set To Rebound

Posted on by Laze Spasevski
  Commercial sales are set to rebound as transaction activity in the Australian commercial property market appears to be trending up. However, sales activity in 2023 will almost certainly be well down on last year's results. There were $29.2 billion of sales in the office, logistics & industrial, and retail sectors during 2022, according to JLL. Which is considerably higher comp...
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Rental Shortage Set To Linger

Posted on by Laze Spasevski
The rental shortage is set to linger as the national vacancy rate in July dropped to 1.3%. It is forecasted by SQM Research that this is unlikely to change anytime soon. The rental shortage is likely due to 2 major factors: A rapid increase in population. Fewer new homes are completed in 2023 compared to 2022. SQM managing director Louis Christopher said. “Australia currently has...
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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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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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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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