Young people are feeling more disheartened than ever about their prospects of owning a home. This is despite falling property prices, according to new research by Finder. In fact, the survey found more than a third (37%) of non-homeowners say they don’t think they will ever be able to afford a home, a substantial increase…
When it’s time to start looking for your next property purchase, you’ll come across a lot of jargon you might not have heard before. Saving for a deposit or house hunting is time-consuming enough, so when it comes to deciphering some of the real estate market code and industry lingo you could probably do with…
Rising interest rates are going to strangle our property markets! Well that’s what the media is telling us, but Eleanor Creagh, Senior Economist at the REA Group suggests that won’t be the case. She explains that despite the fact that mortgage rates have quickly risen, and many homeowners will need to tighten their belts as further rate…
It’s a question that many property investors ask me: should I buy a new property or an established one? It’s obviously on the minds of lots of investors so it’s time we revisited this issue in a bit of detail. On the surface, it makes sense to buy a new property. Buyers like new things…
The Australian Taxation Office (ATO) recently revealed the top 10 highest paying jobs in the country. The ATO recently released its Taxation Statistics for 2019-20 with, unsurprisingly given the global pandemic, workers in the medical field taking out the top three spots. Other high-paying industries include financial services, law, and engineering. And all of the…
Melbourne and Canberra’s property markets have officially broken the $1 million mark for median house prices during the June quarter as a ‘perfect storm’ of factors continues to drive our property prices higher again across all capital cities. Australia’s national median house price has climbed exceptionally close to the million-dollar mark at $955,927 – which…
Australia is home to 558,000 people aged over 85 years. In fact, in the last 20 years, this age group has actually doubled in size. However, this is absolutely nothing compared to what’s about to hit us according to leading demographer Simon Kuestenmacher who shared his insights in The New Daily He said: “In just…
The average Aussie homeowner is getting older and wealthier, the OECD’s latest report on housing and taxation shows. “High-income households hold a disproportionate share of housing debt, although lower-income households with mortgages generally face higher relative debt burdens,” the report says. The figures show a wealth gap where home ownership is dominated by the top…
Did you know that if your driveway is jam-packed with cars, it implies your income is low? Of course, rich people also buy cars, often valuable ones and garages full of them. But the interesting and usual pattern is that, in general, the lower the household income, the more vehicles they own. Why? Location, location,…
![The conveyancing process when buying a house [a Step-by-step Guide]](https://cdn.propertyupdate.com.au/wp-content/uploads/2020/10/buy-home-270x200.jpg)
If you’re a first-time home-buyer or property investor, you might not have come across the term ‘conveyancing’ before. Likewise, terms such as unconditional, settlement, and ‘cooling-off’ period are also terms you may not be overly familiar with. And even if you’re a seasoned property investor, you would have employed a conveyancer or solicitor to assist…
