State Of The Nation Compiled By Kevin Lee of Smart Property Adviser Issue # 038 May 10, 2013
Quest Serviced Apartments To Target Business Travellers In QLD With Five New Properties Quest Serviced Apartments will target the growing number of extended-stay business travellers in Queensland, with five new properties across the state to open in the next 12 months. Quest plans to build more than 1,300 apartments in Rockhampton, Mackay, Townsville, Woolloongabba and Upper Mount Gravatt for business travellers – boosting their room supply by more than 90%. 8 May 2013. More.
Cash Rate Cut To 2.75pc The Reserve Bank has today announced that it will drop the cash rate by 25 basis points, down to 2.75 per cent. The RBA is likely to be reasonably comfortable with the pace of the housing market recovery, said RP Data head of research Tim Lawless, with dwelling value trends continuing to recover over the first four months of the year. 7 May 2013. More.
Missive Extra – Interest Rates Interest rates have fallen to 53 year lows, with another 0.25% fall th very likely this side of 30 June. Why? Well forget all the gobbledygook you will hear on the news tonight – rates fell because the fiscal brake is taking its toll & new housing starts are not moving upwards, as the RBA hoped. 7 May 2013. More.
Moving Up In Unit Market With increasing demand for inner-city and urban living, one option for developers and councils is the tall unit block. It is a great way to squeeze as many people as possible into every square metre of expensive, inner-city soil. Plus, services and infrastructure are usually in place. 8 May 2013. More.
Hardship Regulations Muddy Waters The new hardship regime could make it difficult for lenders to know when a hardship notice has been triggered, Gadens Lawyers has said. The law firm has advised that newly instituted regulations regarding hardship notices may have muddied the waters for lenders. Previous regulations required borrowers to specifically request hardship relief, but Gadens partner Amber Warren said new regulations meant hardship notices could be triggered orally. 8 May 2013. More.
Focus On What’s Vital Buyers waste their time at open home inspections focusing on emotional triggers instead of the practical considerations, says buyers' agent and real estate author Patrick Bright. The EPS Property Search director and best-selling author of The Insider's Guide to Buying Real Estate said many home buyers underestimated the importance of an open home inspection and failed to prepare. 7 May 2013. More.
How Long It Takes To Earn Rent In Each State How many hours work does it take you to cover your rent each week? A widely accepted measure of affordable housing says that if your rent costs less than 30 per cent of your gross income, or a third of your working week, you're doing OK. Comparing ABS data on average full-time earnings with RP Data figures on median rents shows how many hours on average it takes for a full-time worker to make their rent in each state. 8 May 2013. More
10 Melbourne Markets That Haven’t Grown In A Decade Considering that property markets move in cycles and that over a seven year period prices tend to oscillate between periods of growth, regression and inactivity, investors should be wary of suburbs that have remained flat for two property cycles. As Positive Real Estate chief executive Sam Saggers points out, property cycles are a fairly ubiquitous trend in established suburbs and for a market to defy this trend, local conditions need to be particularly strong – or weak. 7 May 2013. More
Victoria’s Budget Delivers For Some, Not Others Grants for first homebuyers in Victoria will soon only be available for the purchase of newly constructed dwellings. The State Budget was handed down yesterday and outlines a handful of changes to housing policy, including an increase to the First Home Owner Grant for new builds from $7000 to $10,000. The extra cash splash comes into effect from July 1 and coincides with a fast-tracked 40 per cent concession on stamp duty. 8 May 2013. More.
ASIC Warning To Licensees: Be Wary Of Dodgy Recruits ASIC has issued a warning to financial services licensees, asking them to ensure they have ‘robust’ recruitment processes in place when appointing representatives who have worked for a business ASIC has taken action against – but this can be an issue for mortgage brokers, according to Gadens partner, Jon Denovan. 7 May 2013. More.
Buiding Up To Big Problems A perfect storm of infrastructure projects being built at the same time could cause massive blowouts, delays and even major projects such as the WestConnex road link being shelved. As the O'Farrell government looks to finally get the state moving, the Civil Contractors Federation has warned that, because so little has been happening in recent years. 8 May 2013. More.
www.smartpropertyadviser.com.au E: firstname.lastname@example.org T: (02) 9980 1311 M: 0416 083 995 Disclaimer: This document is a compilation of recent articles published in the media. The media sources are quoted beneath their respective article capture. Smart Property Adviser does not claim to be the author of any articles included within this document.
State Of The Nation Continued… Home Trends That Send Buyers Packing
Apartment Owners To Lose Out In Rates Review
We've all seen them garish design trends that were once the height of high fashion, but are now the subject of amusement. Remember the shag pile carpet and over the top patterns of the 1970’s? Chenille bedspreads and bathrooms with large floral motif tiles in a multitude of colours, mostly burnt oranges, browns and yellows? 7 May 2013. More.
Council rates would be slashed for house owners but apartment dwellers could pay hundreds of dollars more under changes being considered in a local government review. It would address a growing burden on the owners of typical freestanding homes who often pay higher rates than their neighbours in luxury apartments. 8 May 2013. More.
Relief For Struggling Vic Land Owners Grouses Over Spouses On Executive Committees "Can a husband and wife both be on the executive committee," writes Kenuppa on the Forum. The simple answer is yes in NSW, but no in Victoria and Queensland. However, as with all things in StrataLand, it's never as straightforward as that. Firstly, in all states, an owner can nominate him or herself for election to the EC or they can nominate someone else. 6 May 2013. More.
Investors Advised To Focus On Cash Flow A slowdown in capital growth over the coming years means investors should focus more on cash flow, according to RP Data senior research analyst Cameron Kusher. While housing prices have generally doubled every seven to ten years in the last two decades, Mr Kusher believes those days are behind us. 7 May 2013. More.
Victorian Treasurer Michael O'Brien Relying On Strong Recovery In Property Sector The State Government is promising a $2.5 billion Budget surplus within four years, relying on a strong recovery in the Victorian property sector forecast to deliver thousands of new jobs. This is also predicted to push unemployment back to a low of around 5 per cent within two years. 8 May 2013. More.
Mystery Financial Institution Embarks On East Coast Streetfront Retail Expansion An unnamed “national financial institution” has hired Colliers International to find 22 prominent retail locations to lease on high streets stretching from Kempsey on the Mid North Coast region of NSW all the way to Geelong in Victoria. 8 May 2013. More.
Be On Alert For Rental Scam Renters have been warned to be alert to a scam that has claimed a number of Victorian victims. The only significant scam known to operate in Victorian real estate involves a property advertised for rent online by an overseas "owner''. Victims are lured into paying bond money - and even a few weeks' rent - but are never given access to the property. 5 May 2013. More.
Struggling land owners in Victoria will soon find relief, following the introduction of new planning zones yesterday, according to the state government. Planning minister Matthew Guy has announced reforms to Victoria’s existing business and industrial zone regulations designed to drive employment, productivity and growth. 9 May 2013. More.
Be Smarter Before You Buy Property investors have rarely had it so good, even if it's at the expense of first home buyers. Rents are high, interest rates low and prices are creeping up again. ''First home buyers have gone missing,'' says buyer's agent and property expert Kevin Lee, principal of Smart Property Adviser and a mortgage broker with Smartline. For once, investors are more likely to be elbowing out each other, rather than first home buyers, at property inspections. 8 May 2013. More.
Controversy Corner Families Lose Out As Prime Minister Julia Gillard Scraps $600 Boost To Family Tax Families in Julia Gillard's electorate will be the biggest losers from the Prime Minister's latest broken promise - the scrapping of a $600 boost to the family tax payment. 8 May 2013. More.
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Some Parting Advice “Is it just me or is nearly every article on property investment focused on capital growth? Cashflow investing continues to be a well kept secret used only by smart investors.”
Until Next Time… Kevin Lee www.smartpropertyadviser.com.au
E: firstname.lastname@example.org T: (02) 9980 1311 M: 0416 083 995 Disclaimer: This document is a compilation of recent articles published in the media. The media sources are quoted beneath their respective article capture. Smart Property Adviser does not claim to be the author of any articles included within this document.
Published on May 10, 2013
In this week's State of the Nation, an article states that experts see more rate cuts coming. The days of banks delaying on RBA rate cuts m...