The Federal Labor government made a bold pledge to build one million new homes in five years as part of their housing accord last October. As Treasurer Jim Chalmers unveiled the ambitious plan, many applauded the effort to address Australia’s rental crisis and housing shortage. However, with the housing industry warning that high-interest rates and…
In the current property market, we all want to buy our home or investment property at the lowest price possible. On the other hand, the vendor still wants the highest price he can get. And you now know that the asking price quoted by the selling agent will usually be more than the owner is…
There are potentially big profits to be made when renovating. But, it’s not always smooth sailing for those trying to manufacture a profit through a property refresh. You see…while renovating a property can be an exciting time, it also comes with a number of risks that you’ll need to consider. From damage to the property…
Although Australia ranks as the sixth largest country globally, its population density is just 3.3 individuals per square kilometre, making it one of the least densely populated countries in the world. Despite the vast land area available, the majority of the population clusters along the eastern seaboard and prefers living in smaller properties near major…
The housing market has been hit hard by a series of cash rate increases, with new home sales plummeting as buyers struggle to afford the higher borrowing costs. In fact, according to HIA’s Chief Economist, Tim Reardon, “sales of new homes fell again in January, down by 12.8 per cent for the month, leaving sales…
Australia is known for its vast land and open spaces, but in recent years, the size of blocks of land available for residential development has been shrinking. This trend is particularly evident in urban areas, where the demand for housing is high and the land is scarce. The shrinking size of blocks has significant implications…
Do you like having problems? Most of us don’t. But I’ve noticed that there are two types of problems:- The problems you think you have The problems you don’t think you have; Now stick with me and you’ll understand what I’m on about. You’ll find that most people are prepared to pay to get rid of their…
After months of declining dwelling approvals, the trend appears to be shifting positively. In fact, the latest data from ABS show that dwelling approvals rose a sharp 18.5% month on month in December, rebounding after the previous month’s 8.8% fall. The rise was driven by the very volatile apartment series (+56.6% month on month after…
New home sales have been declining as interest rates have been rising. This is because when interest rates increase, borrowing costs for mortgages also increase, making it more expensive for potential buyers to purchase a home. Additionally, rising interest rates may also cause some buyers to delay purchasing a home until rates stabilize or decrease….
The Block was once again a hugely popular TV show this year. After three gruelling months of sleeplessness and renovations paid off for the couples competing to sell their properties for a profit. Not surprisingly it encouraged a new generation of property investors to turn their hands to renovation. But if you ran the renovations…
