Though the 2032 Olympics are still eight years away, property experts are already predicting a significant impact on the market, with potential property value increases of up to 50% leading up to the event. REA Group CEO Owen Wilson forecasts this rise, citing the continued strong demand in Southeast Queensland. "It's simply a matter of supply and demand. With more people wanting...
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Buying a home is one of life's biggest events, and an increasing number of buyers are choosing to build their own. In a significant shift, nearly one in three Australian homebuyers, or around 31%, now prefer building their own new homes over purchasing existing properties. According to the March to December 2023 ABS Building Activity reports and PropTrack data, more than a quarter of total...
The increasing wealth of thousands of Australians is set to elevate many to millionaire status within the next five years, according to a new global report. This rise in wealth is primarily attributed to the booming housing market and growing returns on superannuation assets, as noted by one economist. However, the report also indicates a growing wealth inequality. The Global...
Looking ahead to the 2024-25 financial year, national prices are projected to rise between 2% and 5%, with capital cities expected to see a slightly higher increase of 3% to 6%. Mr. Kusher noted that the anticipated prolonged period of higher interest rates could reduce buyer activity. However, upcoming tax cuts in the new financial year are expected to increase disposable...
As the end of the financial year approaches, a slew of new laws are set to take effect for Australians. Starting July 1, these changes will impact nearly everyone, from individual taxpayers to families and retirees. Here’s a summary of the major updates coming in the next few weeks, along with their potential impact on your finances, including taxes, superannuation, and government...
Scattered throughout our capital cities are a few small suburbs—some with a land area of less than one square kilometre—that you might not know unless you're a local. These suburbs often consist of just a few streets, yet they feature highly desirable homes that have surged in value over the past year. Some of these tiny suburbs boast multi-million dollar median prices,...
Recently, Queensland state government unveiled the visionary "Future South Bank" master plan, unveiling a grand blueprint for Brisbane's iconic area for the next 30 years. The comprehensive transformation of South Bank Parklands in Brisbane will include turning roads into green pedestrian walkways, plazas and maritime museum precincts, and newly developed areas, including a dedicated parkour...
Research News by CoreLogic This was on par with the pace of gains recorded in both February and March, with the month-on-month rise adding approximately $4,720 to the national median dwelling value. April’s increase takes the current growth cycle into its 15th month, with housing values up 11.1% or approximately $78,000 since the trough in January last year. Beneath...
What is FIRB? One of the primary features of Australia’s foreign investment regime is that it requires foreign investors to obtain Foreign Investment Review Board (FIRB) approval (by way of “no objection notification” or “exemption certificate”) before proceeding with a proposed investment. A significant fee is payable by foreign investors who lodge an application for FIRB approval....
The RBA board left its cash rate unchanged of 4.35% after its second two-day gathering of 2024 concluded on Tuesday afternoon. The Reserve Bank is widely expected to maintain its key interest rate during this week's board meeting, though economists hold differing views on when borrowers might anticipate relief. The central bank is scheduled to reveal the outcomes of its second board meeting for 2024...