Beware of unintended consequences. The federal government recently announced it is working up a multibillion-dollar scheme to construct residential housing as part of its strategy to stimulate the economy and prop up the building industry as the nation emerges from the coronavirus crisis. While there is some merit to this, as always when the government…
Many property experts tout the line that you make money when you buy property, not when you sell. If this is true, then it’s important to ensure you’re not paying too much when you sign that contract of sale. Of course it’s more important to buy the right property than buy a secondary property at…
You may have been misled. You see…a rash of popular reality TV programs have highlighted the easy money to be made in property renovating, which may have led you to believe that renovating is an easy and surefire strategy to generate profits from property. But the reality is, renovating won’t always make you money. In…
We are a nation obsessed with home renovations. Just take a look around at your own street or suburb, or turn on the TV to see the number of home makeover shows on offer. Housing Industry Association research shows that house-proud Australians are expected to have spent more than $30 billion on renovations in the…
You’ve probably heard that we’re currently in a “buyer’s market”, thanks to the property slowdown, interest rate cuts and restrictions that have been placed on investors and interest-only loans. Does this mean you should be leaping for joy, certain in the knowledge that you’ll easily snag a bargain? Well, I don’t mean to burst your…
The simple answer is NO – not in the way you’re expecting. When buying an income producing investment property, the expenses associated with it’s purchase are treated differently to later repair, maintenance and ongoing management costs. Many of the upfront costs are considered what we call a ‘capital cost’. These include stamp duty, conveyancing costs and…
Are you interested in renovating properties? I know I am, as are many of our clients at Metropole who see it as a great way of adding value and manufacturing capital growth at a time when our markets are flat. Yet despite Australia’s love affair with TV renovation shows, apparently many Australians just can’t be…
You’ve found your dream home, in just the right location, or the deal investment property, but the selling agent has just dropped a bombshell… “We have several other interested parties!” Or worse… “We’ve already had a number of offers…” Suddenly the lifestyle you were picturing, with your family enjoying this amazing property, could be snatched…
Ever been to an auction where the property sold for hundreds of thousands of dollars above what the agent had quoted? I certainly have and I know many disappointed prospective buyers who have missed out at auction by being misled by agents’ quoted price ranges. Just to make things clear… the practice of underquoting is…
For the last few decades it was the needs of the Baby Boomers (50-64 year olds) which drove our property markets But now it’s GenY’s turn to shape our markets according to BIS Oxford Economics’ Emerging Trends in Residential Market Demand report. BIS has forecast that Generation Y (aged 20 -34) was expected to favour apartment and…
