Category: Real Estate
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Northern Territory Paying Aussies to Make the Move Up North
Financial incentives are being offered to Australians who buy a house in the Northern Territory in a bid to attract more people to the state. The government is pledging $9.3 million towards plans to try and lure people, including migrants, up north. The announcement is a part of the Northern Territory Population Growth Strategy 2018-2028…
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Regional Suburbs Show Promise as Sydney and Melbourne Step Off Top Spots in Housing Market
Real estate agents are encouraging investors to broaden their horizons beyond the big cities, after regional areas surge through the housing market this month. Housing prices are decreasing in Melbourne and Sydney, with just a handful of suburbs between the cities showing significant economic growth. Perth, Adelaide and Canberra have emerged recently, and with the…
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Is there a cool change coming to Australian housing market?
Australia could be looking at a cool change in the housing market, according to data compiled by Core Logic. Levels of auction clearance rates in capital cities have continued to fall, with a preliminary capital city clearance rate of 71.8% achieved over the last week. If trends continue as they are, this rate could be pushed down to 70%…
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Opposition presents alternative housing affordability plan
The Federal Opposition has presented an alternative solution to the housing affordability crisis, detailing a plan to crack down on self-managed superannuation funds as well as imposing higher fees and penalties on foreign property investors. Ahead of next month’s Federal Budget, which will reportedly include a Coalition plan to combat housing affordability problems, Labor has put…
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Government considered housing tax breaks in early 2016
Despite a new Federal Government housing affordability package expected for the next budget, the impact of tax breaks in the housing market was formally examined and rejected by the Federal Cabinet as early as February 2016. The Coalition Government responded to investigations into the possibility last year by launching direct and staunch opposition to Labor’s proposals for…
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New home sales barely rise in February says HIA
Figures from the Housing Industry Association (HIA) have shown that new home sales have barely risen in February. New home sales have only risen 0.2%, with almost no movement in the sales of detached and multi-unit homes. “There was very little movement in the two sub-series with detached house sales ticking down by 0.1% in…
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Australian housing prices continue to rise
Core Research has announced a 3.7% rise in Australia’s housing market prices since January. Sydney dominated the Australian property market, with the highest increase of 5.3%, with Melbourne close behind with a respectable 4.4% rise. Only Perth has recorded a decrease in housing prices, which fell 1.1%. Sydney has long held the title of Australia’s most unaffordable…
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Victoria criticises Federal Government on home ownership
The Victorian government has today launched an attack on the federal government, accusing them of not acting sufficiently to arrest the decline in home ownership levels. With a meeting of the nation’s treasurers scheduled to take place today in Canberra, the home ownership problem is set to dominate the agenda. The Victorian Treasurer, Tim Pallas,…
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Is rent control a solution to the housing crisis?
In the ongoing housing affordability crisis, government and non-government parties alike are searching for ways to ease the pressure on tenants. One of the potential solutions is rent control, which would allow for capped rental prices dependent on income. Rent control dictates that a tenant pay 30% of your income on your housing. City West Housing are…
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Victorian government announces stamp duty cuts
Stamp duty cuts are the plan that the Victorian government is putting into place to make buying a home easier for first time buyers. When first time buyers are going to buy a house, they will not have to pay stamp duty if the price costs less than $600,000. However, Treasurer Scott Morrison says that…