The June quarter shows moderate increase in activity on the property market

  The Real Estate Institute of Australia (REIA) says that property prices decreased in the June quarter with the weighted average median prices rising 2.1% for houses and 0.4% for other dwellings. According to the latest REIA Real Estate Market Facts publication, the weighted average median price approached the $700,000 mark for houses and was […]

Reserve Bank Leaves Rates on Hold

At its meeting today, the Board decided to leave the cash rate unchanged at 1.50 per cent. Commodity prices are above recent lows, but this follows very substantial declines over the past couple of years. Australia’s terms of trade remain much lower than they had been in recent years. Financial markets have continued to function […]

Good news for buyers and renters

According to the Real Estate Institute of Australia (REIA), the June 2016 quarter CPI figure is good news for home buyers and renters. President of the REIA Mr Sanders said: “Overall, the All Groups CPI, increased by 0.4% in the June quarter giving an annual increase of 1.0% – the lowest annual changes since June […]

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RBA Lowers Interest Rates to 1.50%

At its meeting today, the Board decided to lower the cash rate by 25 basis points to 1.50 per cent, effective 3 August 2016. The global economy is continuing to grow, at a lower than average pace. Several advanced economies have recorded improved conditions over the past year, but conditions have become more difficult for […]

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Moderating Housing Finance

  The latest housing finance figures released this month by the Australian Bureau of Statistics (ABS) confirm a moderating housing market. The Real Estate Institute of Australia (REIA) says the figures for May 2016 show, in trend terms that the number of owner-occupied finance commitments fell by 0.2 per cent – the fourth consecutive month […]

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How Airbnb is pushing to change the law for Australia’s sharing economy

The following story appeared in Business Insider last year regarding Airbnb: The rules around short term rentals in Australia are disjointed, confusing and convoluted. Local councils grapple with it individually, especially in popular holiday towns such as Byron Bay, Noosa and Sorrento, while the federal government is trying to decide whether it needs legislation to […]

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Reserve Bank Leaves Interest Rates Unchanged

At its meeting today, the Board decided to leave the cash rate unchanged at 1.75 per cent.  The global economy is continuing to grow, at a lower than average pace. Several advanced economies have recorded improved conditions over the past year, but conditions have become more difficult for a number of emerging market economies. China’s […]

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HIA New Home Sales signal downturn ahead

The HIA New Home Sales Report, a survey of Australia’s largest volume builders, shows that total new home sales fell for a second consecutive month in May 2016, said the Housing Industry Association – the voice of Australia’s residential building industry. “There is nothing alarming to a reversal in the trend for New Home Sales,” […]

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TENANTS TO SUFFER UNDER NEGATIVE GEARING CHANGES

  Changes to the current taxation arrangements for residential property as proposed by Labor would shrink investment in housing, see increases in rents larger than they would otherwise be and require greater government investment in social housing according to the real estate industry. “Negative gearing contributes to the provision of new housing with around a […]

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New tax rules for property sales over $2 million

Australian residents buying or selling real property with a market value of $2 million or more need to be aware of new rules which come into effect on 1 July 2016. Details released by the Australian Tax Office (ATO) on May 19, 2016 Assistant Commissioner Malcolm Allen said Australian residents who are selling a taxable […]

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