As Australia’s housing affordability crisis worsens, governments are spending more on housing. Victoria’s Andrews government has announced a suite of reforms (such as boosting social housing and making planning processes faster) in an effort to get 800,000 extra homes in Victoria over the next decade. Federally, the Albanese government’s A$10 billion Housing Australia Future Fund,…
There are a growing number of people in Australia wanting to create wealth by undertaking a small property development. Unfortunately, many people attempt it when they don’t have the knowledge or the know-how, and they end up financially worse off than they were before. Others, while clearly capable of managing the project, don’t set up…
How much do Australians love to renovate their homes? Well, according to Compare Market Australia’s latest research, Australia had the third-highest search volume for renovation terms, with an overall search term volume of 55.32 searches per month per 100,000 people. Additionally, Australia topped the list for bedroom and laundry renovation queries. Ahead of Australia were…
As a property developer, I choose the suburbs where I undertake developments very carefully. By the way, those planning to undertake a development to sell at a profit should look for very different criteria than those planning to hold the completed development as a long-term investment. Let’s look at a few of these… Local Due Diligence…
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…
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…
There were another 524 construction insolvencies in the March 2023 quarter, an increase of 93 per cent from a year earlier. 235 of the failures were in New South Wales, 149 in Victoria, and 89 in Queensland. The residential construction sector is known to have a high multiplier, and failures will ripple out through subcontractors…
HomeBuilder saw a surge in detached housing approvals yet little change in attached dwelling applications. Rising costs, and labour shortages alongside fixed price contracts have stuffed up a lot of building businesses, with many facing the wall. Some major construction firms are now thinking of pulling out of the residential sector altogether. Working for practice…
Dwelling construction was significantly delayed in mid-2022 due to the combined shortages of labour and materials, and the number of new dwellings under construction remained resolutely high until September at around 243,500. Although attached dwellings under construction eased in the two most heavily populated states, south-east Queensland did see in an increase in much-needed supply…
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…
