The Australian Budget announced on 25 October 2022 includes the promise to have one million New homes built over the next 5 years.
The Federal Government is committing $350 million towards 10,000 of these homes. That is $35,000 per house.
Each State will … Read the rest
First Home Buyer Statistics.
61% of First Home buyers were under 34 years old.
9% of First Home buyers purchased without a mortgage.
80% of First Home buyers were not single people.
67% of First Home buyers purchased a detached home.
31% of Australian households own their home without a mortgage.
Of the 10,852,208 private dwellings counted in the 2021 Census
35% of households own their home, but have a mortgage.
31% of households own their home, without a mortgage.
30.6% of households are renters.
3.4% were … Read the rest
Stamp Duty or Land Tax?
Which is best, an upfront Stamp Duty, or an Annual Land Tax, when buying a property?
New South Wales has proposed following the ACT in removing Stamp Duty on property purchases and replacing this with an annual property tax.
Dominic … Read the rest
A first home buyer can use up to 40% of their super balance, up to a maximum of $50,000, to use as part of their Deposit for a home.
They must provide at least 5% of their Deposit from their own savings.… Read the rest
According to the latest CoreLogic report, the median value of an Australian property, including freestanding homes and units was $738,975 in March 2022.
The Capital City median values were:
Source: … Read the rest
In general it is the responsibility of all owners and landlords to install working smoke alarms.
Smoke alarm legal requirements can vary in each State of Australia, and the links below show those requirements for the State that you have a property in. A selection … Read the rest
Some news reports are saying that Australian house prices will fall in 2023, but by how much?
In reality, if the reports are correct, they will fall to a figure only 27% higher than 2019.
The figures being quoted are:
Rise 21% in … Read the rest
This is a petition that has been put forward to the Australian government to request that living in Tiny Houses on wheels, the same as living in a Caravan, be treated as a Permanent structure would be treated.
Currently, the rules … Read the rest
When foreigners purchase property in NSW, they are subject to surcharges in addition to the normal duty payable on property purchases.
These surcharges do not apply to Australian citizens.
They do apply to foreign persons, including foreign individuals, corporations, trusts and governments.
