The headlines declaring another building company is on the brink of collapse due to increased construction costs are becoming alarmingly regular. And it’s dissuading many homeowners from renovating, fearing spiralling building and labour costs or worse: handing over tens of thousands of dollars to a builder who goes under and takes the cash with them.…
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When it comes to buying a first home, size really does matter. Larger, family homes are usually beyond the price range of a first-time buyer and have prompted an increase in building approvals for new terraces, townhouses and duplexes. The increase in medium-density approvals provides an opportunity for first-home buyers who don’t necessarily want to…
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Australia is going through a nationwide rental shortage with vacancy rates in some of our capital cities and regional centres running at just 1% or below. There are currently 2.6 million Australians who live in a rental property. Many landlords have used the accommodation shortage as an opportunity to increase rents. Reports of 10% to…
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Property prices are under the microscope right now because the market is anxious to gauge the impact of interest rate rises. But you can definitely overdo the analysis. National averages of residential property for detached houses and units have their use, but they’re not definitive for your personal situation. Australia consists of thousands of micro-markets,…
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The transition of the property market to more usual behaviour presents an opportunity for many buyers frustrated by consistently losing auction bidding wars. Markets across Australia are showing the first signs of cooling in response to the Reserve Bank of Australia (RBA) hiking its target cash rate. For buyers, the good news is that prices…
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If you’re planning to put your home on the market this coming spring, recent events in the property market may have caused you to pause and re-evaluate. And that’s understandable. But the positive news is that the leading real estate researcher, CoreLogic, suggests our transition from a booming market to more normal behaviour will be…
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As we enter a calmer real estate market after 30% plus growth in values over the past two years, it’s interesting to see property hailed as the top reason for increasing our household wealth. According to the Australian Bureau of Statistics (ABS), individual wealth stands at a record $574,807. Residential property had contributed 1.4% to…
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If you’ve been shocked at the increase in the cost of gas and electricity lately, you’re not alone. Utility prices are on the march along with fuel and food, all of which are feeding an inflation rate that has prompted the Reserve Bank of Australia to hike its target cash rate to 0.85% and increase…
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With inflation capturing many of the headlines at the moment, it’s not a crazy idea to assess the insurance coverage for your home. The rising price of materials for construction and the availability of labour have combined to push the cost of renovation, maintenance and replacement much higher. Leading industry researcher CoreLogic says construction costs…
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As the market mood changes, sellers will be well-served by paying additional attention to the quality of the marketing campaign for their property. A campaign targeted to prospective buyers for your area can earn you tens of thousands of dollars more for your property than a half-hearted or cut-price effort that fails to capture the…
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