Tag: australian property market

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Stamp duty reforms don’t go far enough to help homebuyers

Stamp duty reforms don't go far enough to help homebuyers

First homebuyers will be given the opportunity to choose between an upfront payment or a smaller annual property tax under reforms aimed at making home ownership more affordable in NSW.

The First Home Buyer Choice scheme is part of a multi-billion dollar housing package to be unveiled in the 2022-23 NSW Budget.

Under the new initiative, first homebuyers who opt into the property tax will pay an annual property tax of $400 plus 0.3 per cent of the land value of the property.

But while these reforms are a step in the right direction to bridge the affordability gap, they don’t go far enough as PropTrack economist Angus Moore explains.

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Multigenerational living: Should you live with your parents forever?

Multigenerational living: Should you live with your parents forever?

More Aussies are taking in their elderly parents, while fewer kids are flying the family nest, making instances of multigenerational living more common.

Once upon a time, this kind of living scenario wasn’t uncommon, with two or three generations more likely to live together under one roof. But it faded away over the past 100-odd years as rising wealth and societal changes in the West saw living in smaller family units favoured.

Now, for a number of reasons, chief amongst them affordability concerns, multi generational living is on the rise once more.

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Is now the best time to buy property?

Is now the best time to buy property?

New listings are up strongly, as activity ramps up as we enter spring selling season. So is now the best time for buyers to consider purchasing a property?

Choice for buyers continued to improve in August, with the total number of properties listed for sale lifting 3.9% month-on-month as market activity picked up ahead of the spring selling season.

August saw new listings in capital cities up 11.3% month-on-month after a seasonally quieter July.

Regionally, new listings were up 7.9% month-on-month in August.

Nationally, the total number of properties listed for sale was up 3.9% month-on-month in August as the busier month of new listings helped increase choice for buyers. The increase in the month brought the total number of properties actively listed for sale up 13.7% compared to a year ago – the largest year-on-year increase since 2010.

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A heritage home given a complete transformation

A heritage home given a complete transformation

A late 1800’s workers’ cottage in Sydney has been given new life through a spectacular renovation and extension.

The four-bedroom, three-bathroom property in West Ryde began life in a very different form, as a humble home for stable hands and gardeners at neighbouring Lynwood House some 140 years ago.

Take a tour through this amazing Sydney home.

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The renters taking a different route onto the property ladder

The renters taking a different route onto the property ladder

Many young Australians, particularly those in the expensive major cities, are prioritising lifestyle over owning their own home ­– but this doesn’t mean they can’t still buy property, and many are turning to investing to do it.

Renters are realising that renting where they want to live and buying real estate elsewhere — or ‘rentvesting’ — allows them to have their cake and eat it too.

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What makes a good investment property?

What makes a good investment property?

Reduced buyer competition, increased choice, softer prices, and extremely tight rental markets mean now is the prime time for property investors to act. And it’s not just cashed-up and seasoned landlords who are able to take a step up the property ladder, there’s plenty of opportunities for first-time investors with a solid strategy in place.

But what makes a good investment? And what are the things you should look to avoid? Luke Harris from The Property Mentors explains.

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Would you buy a home with your sibling?

Would you buy a home with your sibling?

With property prices rising 24% last year, cracking the market remains tough for many young people – prompting some to explore buying with a different type of ‘partner’.

Real estate experts say buying with a sibling is an increasingly popular path to homeownership that can be an overwhelmingly positive experience for both parties, but warn there are serious considerations.

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This luxury home is a Ferrari fan’s dream

This luxury home is a Ferrari fan's dream

An amazing mansion boasting a Ferrari-themed bar, vehicle turntable and custom-built prancing horse statue is set to drive up Keysborough’s record price by about $2m.

The spectacular double-storey house is being sold via expressions of interest with a $9.5m-$10m asking range.

Set on 2ha, the abode’s jaw-dropping drawcards include a pool, tennis court, putting green, half-basketball court, a kitchen mural showcasing the Las Vegas skyline and a home cinema featuring Dolby surround sound, tiered seating and a 3m-wide screen.

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How much more interest you’re paying on your mortgage

How much more interest you're paying on your mortgage

The RBA raised interest rates by another 50 bps in July, and the market expectation is that it’ll rise by another 1.5% by the end of the year. Homeowners in affordable, family-friendly suburbs may be most affected by the Reserve Bank of Australia’s recent interest rate rises, new data suggests, and PropTrack economist Angus Moore explains how this will affect mortgage holders.

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How has the Australian home changed?

How has the Australian home changed?

From dark boxes to light-filled living, Aussie homes have come to embrace the great outdoors. Now, there’s another shift underway.

For a country flooded with sunlight, it’s odd that so many traditional homes were quite dark, small and internally focused. However, it makes more sense when you consider the origins of Australian house design – the settler experience. Most homes were simply a masonry box with windows, sitting around a very symmetrical layout with a roof on it.

Things have certainly changed, with light, space and the outdoors now embraced and celebrated in home design. But it has been quite an evolution – and there is more change on the horizon.

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