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Housing affordability declines buts there’s good news for renters

Housing affordability declines buts there’s good news for renters

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Housing affordability declines buts there’s good news for renters. The Real Estate Institute of Australia (REIA) has released its quarterly report into housing affordability in Australia and the new data shows worsening levels across the nation.

The Adelaide Bank Housing Affordability Report provides a comprehensive analysis of the property sector in Australia and examines long-term trends based on quarterly results, which ensures a better snapshot of the housing market.

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2015 The year to buy property in Brisbane

2015: The year to buy property in Brisbane

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Here’s some good news: Brisbane is expected to overtake Sydney and Melbourne as the hottest area for property buyers in 2015.

While the big southern centres are predicted to see a bit of a slowdown, Brisbane’s growth is expected to increase by 4-5% while still remaining affordable – especially compared to Sydney and Melbourne, whose median prices are much higher (up to 70%!) across the board.

Low interest rates and land prices coupled with healthy interstate migration and a relative glut of inner-city highrises means the property market in Brisbane is suited to buyers and investors at all levels – particularly in the middle to upper categories.

Click through to find out more about why 2015 will be the year for buying property in Brisbane. Read more

First timers don't want to buy into the new dream

First timers don’t want to buy into the new dream

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MOST of them gave up on a house long ago, but now first home buyers are struggling with the latest government-inspired revision of the great Australian dream.

Responding to the worst first home buyer loan figures in 20 years, the head of the main developer lobby group said getting first-timers to choose new property was ”a cultural shift that people are finding a bit difficult to grasp – they just want to buy an existing home”.

The O’Farrell government’s axing of the long-standing $7000 First Home Owner Grant came into effect on October 1. It was replaced with a $15,000 grant that applied only to new property, with the aim of boosting construction.

”We’re still in a transitional period,” the chief executive officer of the Urban Taskforce, Chris Johnson, said. It would ”take a while” for first home buyers to adjust to the new incentives.

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Get The Plan Right

Get The Plan Right

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When renovating for profit it is important to get the floor plan right.

Consumer’s tastes and expectations change over time and what was a modern floor plan in the 60’s isn’t any longer.

Here are some tips for getting the floor plan right.

  • Minimum TWO BEDROOMS – by adding an extra bedroom you will add value.
  • ADD AN ENSUITE – gone are the days where families survive around the one bathroom. It still happens, however it isn’t the preferred option. Where possible add an ensuite bathroom or shower.
  • LAUNDRY indoors. Most buyers prefer an indoor laundry as opposed to the old “wash shed” out back.
  • LARGE OPEN KITCHENS – Buyers like large open kitchens with plenty of bench space.