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Sydney’s Housing & Apartment Market

Approvals are underway as I type this for a monster number of new approvals to rezone suburbs with the intention to increase the supply of housing stocks available to new buyers

Great news for those entering or seeking to enter a proven investment formula as well as providing that number 3 of our needs, food , clothing, SHELTER

When will it end ?

Property prices are being driven to stratospheric heights , and, the boom in property prices has little to do with anything other than historic low interest rates. Property income yields are at historic lows and yet property buyers couldn’t be more enthusiastic. Buyers, who tell me that they don’t mind buying on a yield of 2.5 per cent because they will get a capital gain need to understand that the capital gain will only come when a buyer is willing to accept an even lower yield.

Surging house prices have nothing to do with a shortage of land. Hong Kong has less land and a much higher density of people per square kilometre and that has not prevented falling property ­prices. Moreover, surging dividend incomes, retiring baby boomers and Chinese fondness for our climate and air quality are all “weight-of-money” arguments that have never prevented falling prices.

Sourced from D Cameron

The Conundrum of Investors versus 1st Home Buyers

Here we go with Victoria now giving stamp duty concessions to 1st home buyers and whilst it sounds like a great move to help those buying $600,00 and under, in reality any gain will go to the vendors as prices are pushed up with those trying to get into an already heated market- who will be the first to tackle CGT, stamp duty and land tax as a package. Markets always subvert the best intentions by behaving differently to expectations and no doubt we are in for a surprising year again with the amount of years to service loans jumping to new levels and heading into danger zones if and when interest rates go up.

Just Listed for sale

5 Darley Place  Darlinghurst

This is a 3 bedroom 2 bathroom  freestanding cottage, on 228m2 of land enjoying a prized cul-de-sac location.

http://owner.mydesktop.com.au/cgi-bin/vendor/viewproperty.cgi?g=24420&p=10823943&hash=a4a7f71631967b5d03c5461f127f18e02da532a1

 

At this stage of the campaign the guide is $2350000 and we will update this guide as the program progresses to auction on February 18 at 11am on site

We are open Wednesdays and Saturdays from 10.15 am to 11.00am

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Council rates are $386.70  per quarter and water $187.07 per quarter

 

Our property management division has estimated the rental return at $1600 per week

Strata Laws have changed in NSW

Call  me now for a comprehensive or brief update

New by laws and what’s required, builders warranty changes , new voting procedures and proxies, how  to sell your strata building and voting requirements, tenants participation and voting plus loads more

We were Trumped

Hi all,

Well post election and what will happen from a Trump administration insofar as what will affect Australian real estate.

You can expect to see immigration controls strengthened under Trump, emphasis on what is good for USA first and foremost, possibly a closer alliance with UK such as was with Reagan and Thatcher . Our dollar will drift downwards making imports and o/seas travel excy but will benefit our exports and assist the  BOP.

Real estate prices in the cities will stay level but I do not foresee large movements elsewhere.

Stock for sale will tighten except for  off- plan where there is ample projects underway and in the planning stages; these will be more dependent on bank financing via purchasers’ requirements

 

Trump versus Hilary

What to expect on real estate prices from a win by either presidential candidate.

Trump wins- look to Brexit where the latte set expectations were dashed and property and financial prices fell.

A Hilary win means status quo continues and middle America continues to decline.

However the compact between the Democrats and African Americans is fracturing as lob losses, lack of education, incarceration and other social issues impact heavily on them  and Trump reinforces these issues.

Trump needs only 10% of their vote to swing his way to win

What Lies Ahead for Property Prices

This i a must view link for where prices may be headed based on 2010- 2015 data from Corelogic

http://www.realestate.com.au/news/what-lies-ahead-for-housing-prices-in-2020/?utm_source=outbrain&utm_medium=cpc&utm_campaign=Outbrain_cpc

 

 

tax file numbers for Real Estate Sales

Why We Request Your Tax File Number

Upon receipt of a deposit cheque at exchange, we would normally be required to bank it into our real estate sales trust account in accordance with the Property Stock & Business Agents Act & Regulations.

If required to invest the deposit cheque, then we need to open an interest bearing account on behalf of the vendor and purchaser.  The bank account although actioned and authorised by Raine & Horne, is opened in the names of the clients and for this, it is a requirement of the bank that we provide the Tax File Number and Date of Birth for all named on the account (the beneficiaries).

Upon settlement of the property and after receiving the “Order on the Agent”, the investment account is closed and the deposit and the interest earnt is transferred to our sales trust account where it will be dispersed to the beneficiaries according to solicitors’ instructions.

North Bondi is Hot

Had a fabulous sale at 109 O’Donnell St North Bondi on the weekend at $2376000.

A semi -detached home with  2 bedroom , sun room and 3 parking

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