The cost of building a new home continues to soar! CoreLogic’s Cordell Construction Cost Index (CCCI) for Quarter 3 of 2022 showed national residential construction costs increased at a record rate in the year to September 2022, the highest annual growth rate, excluding the period impacted by the introduction of the GST (10.2% over the…
Property Development involves a wide range of activities and processes from purchasing land to building and developing high-rise apartment buildings and everything in between. In order to be successful, you’ll need to educate yourself on property, the markets, economics, finance, town planning, the construction processes and the marketing of real estate projects. Sound like a lot…
Australia’s appetite for home renovations remains strong, with around A$1 billion worth of alterations and additions to homes approved in July. But rising interest rates and shortages in labour and material may have some would-be renovators wondering: is this still a good idea? Here are five questions worth considering. 1. What would a successful renovation…
With so many mixed messages currently surrounding property I thought I should give you some insights based on my close to 5 decades of experience in property and having built what some would suggest is a very substantial property portfolio. According to our big banks, Australians must brace for the worst housing correction on record…
What influenced Australians to no longer consider buying or building a home? According to Compare the Market’s latest research, 40.6% of Australians that were intending to build pre-COVID-19, one in ten have changed their mind and are no longer interested in pursuing a new home. The most common reason why people had given up their…
It happens every year. The TV show “The Block” inspires a new wave of investors keen to get involved in renovating and “flipping’ properties. Just to make things clear “flipping” is where you purchase a property and then sell it within a short period of time for a higher price, usually having added value…
It’s a tough time to build or renovate a house in Australia. Prices are up, well above inflation. Finding materials and getting them on time is a challenge. Builders are grappling with too much work and stress (with some folding as costs rise too fast). Customers are being confronted with eye-watering price quotes. And as…
Why is it important to understand the difference between a repair and an improvement to your investment property? The property investor is often grappling with whether an expense is a repair or an improvement. This is critical because a repair can be written off immediately whereas an improvement must be written off over a longer…
What’s behind the recent slump in home building approvals? For two consecutive months now, approvals to build new dwellings have fallen, with the most recent Building Approvals release from the Australian Bureau of Statistics showing that there has been a 2.4% decrease month-on-month in the number of dwellings that have been approved. Digging deeper, the…
With many property markets languishing at present many investors are looking at “manufacturing” capital growth by getting involved in property development. While the process of property development can be a lot of fun, it is not without some pain and considerable risk. When all goes well the results are fantastic, but if things go wrong…
