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...
Market News
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...
Fees for foreign investors who leave properties vacant will double and taxes will triple for those who buy existing houses Australia is set to impose higher fees and increased penalties on foreign investors acquiring existing homes and leaving them vacant in a bid to address housing affordability. The federal government recently unveiled regulations that would triple taxes for non-residents...
The Queensland government is doubling grants for people buying or building their first home. Key point The First Home Buyer Grant in Queensland has been increased to $30,000. This grant is applicable for the acquisition or building of new properties with a value under $750,000. This initiative comes in response to a significant decline in lending for new homes, reaching 20-year lows, and a...
Property market activity has been unseasonably high over the past few months, with higher listings and sales in many capital cities. Top suburbs for first-home buyers Based on email enquiries sent to agents on realestate.com.au in August, first-home buyers were most interested in units in the Melbourne CBD, Parramatta in Sydney, and Brisbane City. High property prices and the numerous interest...