National residential construction costs increased 10.0% over the 12 months to June 2022, according to CoreLogic’s Cordell Construction Cost Index. That’s the highest annual growth rate on record, apart from a 10.2% result in 2001, when the GST was introduced. CoreLogic construction cost estimation manager John Bennett said that as fuel, freight and electricity costs…
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Two key statistics from a recent CoreLogic report show why now could be a great time to be a property investor. First, the national vacancy rate (which is the share of untenanted rental properties) fell to just 1.2%, which is the lowest in recorded history. Second, the median weekly rent for an Australian rental property…
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Australia has recently experienced “significant and unprecedented” rises in electricity prices, according to the Australian Competition & Consumer Commission, which actively monitors the energy sector. As of July 1, regulated price caps have jumped by up to 18.3% for households, compared to the previous financial year. The ACCC attributed the recent price increases to several…
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As of July 1, the federal government has made another 40,000 places available in its Home Guarantee Scheme (HGS) for first home buyers and single parents. Under the HGS, eligible buyers can purchase a residential property with a very small deposit, without having to pay lender’s mortgage insurance. Income caps and property price caps apply.…
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It’s exciting yet testing times if you’re in the market and seeking your first home. Your radar will be finely tuned for price reductions while watching the interest rate picture. The old cliché about swings and roundabouts comes to mind in this situation. What you may lose in higher mortgage payments, you’ll likely gain in…
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Buying your first property is an unforgettable experience – and it’s one of the most important decisions you’ll make to set yourself on the path of wealth creation. And if you’ve achieved this goal during the current economic times, you’ve done incredibly well – Congratulations! As an experienced agency in your area, we know that…
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The record rainfall that has hit Australia this year has been accompanied by uncommonly cold weather that has exposed flaws in the insulation of many homes. Utility prices aren’t the only things going through the roof – so is the heat you’ve spent so much to generate to keep you warm. Generally, Australian homes are…
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Shop around Lenders always need to win new customers, even in tougher times. Do not discount the fact other institutions will want to win your business. Good deals are often available to those prepared to swap lenders. Simple changes Assess your spending habits. Making cutbacks that won’t destroy your lifestyle may ease the pain. Even…
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Downsizing your property is often described as the ideal solution to every homeowner’s cash flow challenge once they retire. The instruction is simple: sell the family home, buy a smaller one and pocket the profit. This basic strategy for downsizing is on the mind of an increasing number of homeowners in the current environment of…
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If you want to improve your home but have put the idea on hold because of the increasing cost of living, we have a few ideas to help you; and you don’t have to go crazy at Bunnings or on Gumtree or eBay to make great changes that will lift your spirits. Sometimes, owners become…
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