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Aussies reduce debt and save

Australians have adopted a cautious approach to spending and have strong debt reduction and savings plans in place, according to the St. George-Melbourne Institute Household Financial Conditions Report. The report shows Aussies are improving their financial position by paying extra on to their mortgages, reducing credit card debt and putting savings aside. In the last… [Read More]

Building approvals continue to rise

The latest ABS Building Approvals data shows continued growth, with 218,442 new dwellings approved for the 12 months to May 2015, up from 192,561 approvals for the 12-month period to May 2014. Building approvals increased 2% on the April 2015 figure and rose 13% year-on-year. “Today’s result is the best possible news for combating the… [Read More]

So, what is fair wear and tear?

As property managers we constantly come across owners who have very little understanding of the concept of fair wear and tear. This lack of understanding can cause conflict and stress for everyone including the tenant. Your tenant is not responsible for fair wear and tear to the premises. What exactly does fair wear and tear… [Read More]

Albury Wodonga Market Update

While it’s not booming like the capital cities, there are signs of improvement in the local real estate market, with the median house price moving up from about $265,000 in 2011 to about $280,000 in 2015 (RP Data). Peter Drummond, Managing Director of Drummond Real Estate says his company has had a record year with… [Read More]

Developers seek end to stamp duty

The property sector has called for an end to stamp duty, saying it has destroyed the home ownership dreams of some people. As pressure mounts inside the Federal Government to address house affordability, the Property Council noted that while the Perth median house price increased 442% over two decades, stamp duty rose 740%. Nationally, homeowners… [Read More]

Home lending rises again

Investors and first-home buyers continue to take out mortgages in growing numbers. Australians made $32.7 billion of mortgage commitments in April, according to the Australian Bureau of Statistics, an increase of 17.3% on the previous year. The owner-occupier share of those commitments rose 13.6% to $19.2 billion, while the investor share rose 22.9% to $13.5… [Read More]

Choosing and working with an agent

Choosing the right agent is crucial if you want to get the highest price for your property with the least amount of stress. Buyers have a choice – your home or someone else’s. Your agent should be skilled, selling the positives of your property and, when necessary, selling the negatives of properties that are listed… [Read More]

Avoiding Mould in Your Rental Property

The winter season brings with it condensation and mould growth problems in properties and once you’ve got it, it can be very hard to get rid of. It can occur in any type of home construction, including weatherboard, brick veneer, solid brick, masonry veneer and concrete. It can be a sign of more serious issues… [Read More]

Housing affordability improves

The Real Estate Institute of Australia (REIA) says housing affordability improved in the first quarter of 2015. The latest Adelaide Bank/REIA Housing Affordability Report shows that the proportion of median family income required to meet average loan repayments was 30.8%, a decrease of 0.7 percentage points from the previous quarter. Despite housing affordability easing, the… [Read More]

PM supports rising house prices

The Prime Minister said he wants housing to be affordable but also wants house prices to be increasing modestly. He said it was important to have a strong economy, that people have as many resources at their disposal as possible – such as jobs – and can afford to buy a home. The best way… [Read More]

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