Aussies reno costs rise by more than 40%
The latest Houzz data shows the median renovation cost is now at $30,000 which has increased from $21,000 the year before, reports Domain. But the biggest of the big spenders are splashing much more cash on top notch refurbs with ‘higher-net worth homeowners’ upping their budgets from $150,000 to $230,000. That will almost buy you […]
Market Update: Northern suburb townhouses set to shine as buyers chase value
With house prices topping over $1 million in inner north locations – like the Grange, Gordon Park, Lutwyche and Windsor – small properties are offering big value, report valuers Herron Todd White. “There’s strong demand for this product with open homes seeing 30 to 40 visitors at a time. It’s obviously a function of price,” […]
Are 13 million spare bedrooms the solution to Australia’s housing woes?
For some thought-provoking solutions to Australia’s housing woes, we couldn’t go past the latest Matusik Missive. Michael Matusik hails from Brissie and is a veteran of the property analysis game. He’s spent some time number crunching census data on unoccupied dwellings and spare bedrooms and turned up some interesting stats. There are around 1 million […]
#7 “bulletproof” suburbs tipped to avoid the slowdown
So where should you park your property dollars if you don’t want to get trampled in a race to the bottom? Not surprisingly, pick those markets that have less room to fall, reports realestate.com.au. “Sydney and Melbourne are already dropping in price at the moment and historically it’s these cities that have had the biggest […]
Market Update: Rate hikes see price growth begin to cool off
Confused? We’ll explain. The data shows a cooling of rapid price growth since the Reserve Bank of Australia hiked up interest rates twice this year. This doesn’t necessarily mean prices have gone backwards, just that the pace of growth has significantly slowed. Data from CoreLogic showed that Brisbane prices grew 0.1 per cent in June, […]
Brisbane City Council hikes rates for short stays
The Brisbane City Council has announced it will increase rates bills by 50 per cent for properties rented for more than 60 days a year on short term accommodation sites like Airbnb and Stayz, reports the ABC. University of Queensland researcher Dr Thomas Sigler said less than 2 per cent of Brisbane dwellings are listed […]
Everything you need to know about tax and your rental property
But let’s give credit where credit is due. The ATO website can sometimes provide some very useful information, especially if you’re a first time property investor. If you’re thinking about buying an investment property, or you already have one – or more – check out the ATO’s rental property video series which breaks down chunky […]
Market Update: How high will interest rates go?
The good news is, you got this. Your bank made sure of it. When you apply for a loan, most banks stress test your ability to repay that loan if interest rates were to rise by 2 or even 3 per cent, explains Property Investment Professionals of Australia (PIPA) chair Nicola McDougall in a recent […]
Market Update: Will house prices really fall 30 per cent?
Now we’re seeing eerily similar headlines with forecasts of 20 and 30 per cent dips. Only this time round it’s the prospect of rising interest rates – not a global pandemic – that is threatening to sink Australia’s property price growth party. No doubt first home buyers and those struggling to get into the market […]
#5 Downsizer burbs growing in popularity
So, where should Brissie downsizers look to build the next chapter in life? “This buying group has a wide range of options open to them. Most have flexible budgets and have also enjoyed rising property values in the past few years, meaning a big chunk of equity to spend on their next home,” report valuers […]
