Category Archives: First home Buyers

Education, First home Buyers, Property Investment Advice, Property Market Research

Announcement of ‘Housing Accord’ in the 2022 Federal Budget and what it implies?

Posted on by Alexandra .
Housing crisis
26
Oct

What does the  ‘Housing Accord’ in the 2022 Federal Budget mean? In last night’s Federal Budget, Jim Chalmers, the Federal Treasurer, announced a new national partnership called ‘Housing Accord’ – a commitment to build one million new ‘well located’ homes over five years, from 2024. The announcement took the collaborative approach, where Dr Chalmers said […]

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Accounting, Education, First home Buyers, Property Investment Advice, Property Market Research

Why Investors Should Make a Comeback

Posted on by Alexandra .
is now a good time to invest in property
12
Sep

Recently, Tim Graham from Reventon Property talked to Hotspotting founder Terry Ryder in a webinar about the Australian property market and how investors are seeking strategic opportunities to make the most of the key growth markets across Australia. Graham combats the five key talking points investors are making: Do you believe everything you read? Is […]

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Accounting, Education, First home Buyers, Property Investment Advice, Property Market Research

Rentals Snapped Up At Record Pace

Posted on by Alexandra .
Rentals Snapped Up At Record Pace
26
Aug

Rentals Snapped Up At Record Pace Rental properties are being snapped up faster than ever before, with new data revealing they stay on the market for an average of only 19 days. PropTrack analysis shows the city where properties rent the quickest is Brisbane, where they last an average of only 15 days. Adelaide properties […]

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Accounting, Education, First home Buyers, Property Investment Advice, Property Market Research

Auctions Stabilise As Clearances Improve

Posted on by Alexandra .
Auctions Stabilise As Clearances Improve
19
Aug

Auctions Stabilise As Clearances Improve While auction clearance rates remain below the lofty levels achieved in 2021, they have increased for the third week despite a rise in listings. CoreLogic figures show the national preliminary clearance rate last week was 62% based on 1,603 properties listed for auction. That is 2 percentage points higher than […]

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Accounting, Education, First home Buyers, Property Investment Advice, Property Market Research

Buyer Priorities Are Changing

Posted on by Alexandra .
Buyer Priorities Are Changing Homebuyer demands are continuing to evolve as Australia emerges from the long period of Covid lockdowns. Developer Mirvac’s latest customer survey reveals the top priority of many homebuyers is the location rather than the house. They survey finds that 70% of homeowners had as their top priority being within walking distance of parks and playgrounds. This desire came in 6th on the list in 2020. Bigger backyards are also high on the list, as is being close to schools. Mirvac head of residential Stuart Penklis believes the pandemic changed the way people think about how they are living. “I think being able to walk out of your home or your apartment and not have to get in a motor vehicle to travel to an amenity, is something that is now at the forefront for all new residents,” he says. Matt Mears of Lendlease says designs which feature fibre to the home, solar initiatives and fully electric communities are also very popular. Why Price Forecasts Are Often Wrong While the media is keen to forecast drops in house prices, property industry experts warn there is no accurate way to read what is likely to happen in property markets. Ray White chief economist Nerida Conisbee says if you are able to predict the future direction of prices, either up or down, you are doing pretty well. “But to get the scale right is almost impossible,” she says. She says at the start of the pandemic there were predictions of a 30% drop in property prices, but in fact the opposite happened, with a national boom emerging. PropTrack economist Paul Ryan says, while it has only recently started making predictions, it is difficult to accurately predict the trends. “If you get one variable forecast wrong, then you are wrong about everything else,” he says. Forecasts are often based on an index populated with theoretical data which tries to place a value on every property, even if it has not sold recently. Exports Hit Record Levels Australia’s economy is continuing to bounce back with new figures showing the national trade surplus has surged to another record high. The increase comes on the back of strong iron ore, minerals and coal shipments with $55.6 billion in exports during June, driving the surplus to $17.7 billion. The ABS figures show total exports are above market expectations. Westpac senior economist Andrew Hanlan says the total exports figure exceeded expectations by about $3 billion. He says there is underlying strength in imports which are up by 2%. ANZ economist Madeline Dunk says the trade figures are underpinned by sales of coal, iron ore and LNG but Australia’s biggest buyer, China, has been trying to limit its reliance on coal imports, and its steel output is expected to weaken this year. “Given this and the fact that commodity prices appear to have peaked, we think the trade surplus will soon start to slide,” she says. Investors Not Deterred By Higher Rates Rising interest rates have not scared off property investors who still see value in real estate as a result of rising rents and low vacancy rates. New data from the Australian Finance Group shows investor lending increased in July to 28%, which is the highest it has been since late 2019. Buyers’ agent Rich Harvey of property buyer says rising rents will help investors absorb interest rate rises. “Investors are lured by higher yields as rents increase by 10% and probably by 15% to 17% by the end of the year,” Harvey says. CoreLogic research director Tim Lawless says rents are set to continue increasing as demand outpaces supply while SQM Research data puts the national average vacancy rate at a record low 1%. Louis Christopher of SQM says there are signs that some regional rental markets may have peaked with an easing of vacancies. Mortgage broker Chris Foster-Ramsay says many property investors are cashed up and ready to buy. Worst Rate Rises May Be Over Fears of continuing interest rate rises may be unfounded, with economists suggesting the worst of the increases may be over. The RBA has lifted the official rate by 1.75% since 3 May. AMP chief economist Shane Oliver now predicts the cash rate will peak at 2.6% by the end of this year or early next year. “It looks like the RBA is getting traction in slowing demand far earlier than normal,” Oliver says. “While job indicators are still strong, these are lagging indicators. By contrast consumer confidence is at recessionary levels and well below where it’s been at this point in past rate cycles.” RBA governor Philip Lowe says while they expect to take further action to normalise monetary conditions it is not a “pre-set path”. “The size and timing of future interest rate increases will be guided by the incoming data and the board’s assessment of the outlook for inflation and the labour market,” he says. Want more? Access the latest property and finance news, articles and videos Meet the Reventon team Learn more about our services Thinking of buying an investment property? Book a free consultation with a Reventon property advisor today! Talk to the Reventon team and we’ll give you all the guidance you need to be successful at investing your money.
12
Aug

Buyer Priorities Are Changing Homebuyer demands are continuing to evolve as Australia emerges from the long period of Covid lockdowns. Developer Mirvac’s latest customer survey reveals the top priority of many homebuyers is the location rather than the house. They survey finds that 70% of homeowners had as their top priority being within walking distance […]

Continue reading →
Accounting, Education, First home Buyers, Property Investment Advice, Property Market Research

Queensland investors to be slugged with massive land tax bills

Posted on by Alexandra .
Buyer Priorities Are Changing Homebuyer demands are continuing to evolve as Australia emerges from the long period of Covid lockdowns. Developer Mirvac’s latest customer survey reveals the top priority of many homebuyers is the location rather than the house. They survey finds that 70% of homeowners had as their top priority being within walking distance of parks and playgrounds. This desire came in 6th on the list in 2020. Bigger backyards are also high on the list, as is being close to schools. Mirvac head of residential Stuart Penklis believes the pandemic changed the way people think about how they are living. “I think being able to walk out of your home or your apartment and not have to get in a motor vehicle to travel to an amenity, is something that is now at the forefront for all new residents,” he says. Matt Mears of Lendlease says designs which feature fibre to the home, solar initiatives and fully electric communities are also very popular. Why Price Forecasts Are Often Wrong While the media is keen to forecast drops in house prices, property industry experts warn there is no accurate way to read what is likely to happen in property markets. Ray White chief economist Nerida Conisbee says if you are able to predict the future direction of prices, either up or down, you are doing pretty well. “But to get the scale right is almost impossible,” she says. She says at the start of the pandemic there were predictions of a 30% drop in property prices, but in fact the opposite happened, with a national boom emerging. PropTrack economist Paul Ryan says, while it has only recently started making predictions, it is difficult to accurately predict the trends. “If you get one variable forecast wrong, then you are wrong about everything else,” he says. Forecasts are often based on an index populated with theoretical data which tries to place a value on every property, even if it has not sold recently. Exports Hit Record Levels Australia’s economy is continuing to bounce back with new figures showing the national trade surplus has surged to another record high. The increase comes on the back of strong iron ore, minerals and coal shipments with $55.6 billion in exports during June, driving the surplus to $17.7 billion. The ABS figures show total exports are above market expectations. Westpac senior economist Andrew Hanlan says the total exports figure exceeded expectations by about $3 billion. He says there is underlying strength in imports which are up by 2%. ANZ economist Madeline Dunk says the trade figures are underpinned by sales of coal, iron ore and LNG but Australia’s biggest buyer, China, has been trying to limit its reliance on coal imports, and its steel output is expected to weaken this year. “Given this and the fact that commodity prices appear to have peaked, we think the trade surplus will soon start to slide,” she says. Investors Not Deterred By Higher Rates Rising interest rates have not scared off property investors who still see value in real estate as a result of rising rents and low vacancy rates. New data from the Australian Finance Group shows investor lending increased in July to 28%, which is the highest it has been since late 2019. Buyers’ agent Rich Harvey of property buyer says rising rents will help investors absorb interest rate rises. “Investors are lured by higher yields as rents increase by 10% and probably by 15% to 17% by the end of the year,” Harvey says. CoreLogic research director Tim Lawless says rents are set to continue increasing as demand outpaces supply while SQM Research data puts the national average vacancy rate at a record low 1%. Louis Christopher of SQM says there are signs that some regional rental markets may have peaked with an easing of vacancies. Mortgage broker Chris Foster-Ramsay says many property investors are cashed up and ready to buy. Worst Rate Rises May Be Over Fears of continuing interest rate rises may be unfounded, with economists suggesting the worst of the increases may be over. The RBA has lifted the official rate by 1.75% since 3 May. AMP chief economist Shane Oliver now predicts the cash rate will peak at 2.6% by the end of this year or early next year. “It looks like the RBA is getting traction in slowing demand far earlier than normal,” Oliver says. “While job indicators are still strong, these are lagging indicators. By contrast consumer confidence is at recessionary levels and well below where it’s been at this point in past rate cycles.” RBA governor Philip Lowe says while they expect to take further action to normalise monetary conditions it is not a “pre-set path”. “The size and timing of future interest rate increases will be guided by the incoming data and the board’s assessment of the outlook for inflation and the labour market,” he says. Want more? Access the latest property and finance news, articles and videos Meet the Reventon team Learn more about our services Thinking of buying an investment property? Book a free consultation with a Reventon property advisor today! Talk to the Reventon team and we’ll give you all the guidance you need to be successful at investing your money.
09
Aug

Introduction of a new tax regime in Queensland or a cash grab scheme? Investors who own properties in Queensland as well as other states are set to be slugged with massive land tax bills following the introduction of a new tax regime in Queensland. New legislation was passed on June 24, which allows the Queensland […]

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Accounting, Education, First home Buyers, Property Investment Advice, Property Market Research

Building Costs To Ease Next Year

Posted on by Alexandra .
Building prices to go down
04
Aug

Building Costs To Ease Next Year Surging construction costs have made many projects unviable, with a number of developers deciding to shelve projects until next year when prices are expected to ease. Quantity surveying firm Rider Levett Bucknall (RLB) predicts increases in construction costs will slow from 11.5% this year to 5.5% in 2023 on […]

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Accounting, Education, First home Buyers, Property Investment Advice, Property Market Research

Govt Charges Deter Foreign Buyers

Posted on by Alexandra .
Migration Lift Will Increase Rents
29
Jul

Govt Charges Deter Foreign Buyers While Australia needs foreign investment to help power the economy, higher application fees for foreign investors are expected to deter them from buying here. Property Council of Australia chief executive Ken Morrison says the July 29 doubling of foreign investor fees is not a solution to fix housing affordability issues […]

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Accounting, Education, First home Buyers, Property Investment Advice, Property Market Research

Migration Lift Will Increase Rents

Posted on by Alexandra .
Migration Lift Will Increase Rents
22
Jul

Migration Lift Will Increase Rents Plans to increase migration into Australia could cause rents to increase further. CoreLogic Head of Research Tim Lawless says the market is already experiencing dramatic rent increases as a result of a national vacancy rate of just 1%. With the Federal Government indicating it wants to fill labour shortages by […]

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Accounting, Education, First home Buyers, Property Investment Advice, Property Market Research

Borrowers Refinance For Lower Rate

Posted on by Alexandra .
borrowers-refinance-for-lower-interest-rates
15
Jul

Borrowers Refinance For Lower Rate The number of mortgage holders refinancing has surged following recent interest rate rises. Refinancing of existing loans has increased 17% in the past few weeks, while all lenders are reporting very strong levels of inquiries about refinancing. Borrowers are being encouraged to review their interest rates annually to ensure they […]

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