Category Archives: Real Estate News

Stamp duty changes for NSW first home buyers

Posted by Terry Hansen on July 31st, 2020 in Real Estate News | No Comments
bank

First home buyers will soon be able to benefit from a temporary change in stamp duty thresholds that will enable them to access a broader range of homes. The NSW Government has announced it will be will be increasing the threshold above which stamp duty will be charged from the current $650,000 to $800,000, as […]

Does COVID-19 present an opportunity for property buyers?

Posted by Terry Hansen on July 24th, 2020 in Real Estate News | No Comments
flipping property

2020 certainly hasn’t been the year anyone expected it to be, but living through a once in a lifetime event does present some unique opportunities for those hoping to jump onto the property bandwagon. While the Australian property market has been holding relatively strong considering the shaky economic climate, with Sydney property prices still higher […]

Australians are feeling more optimistic about the property market

Posted by Terry Hansen on July 22nd, 2020 in Real Estate News | No Comments
realtor

Sentiment in the property market is steadily improving according to ME Bank’s latest Quarterly Property Sentiment Report, but what buyers are looking for is changing in a COVID-19 era. According to the report, positive sentiment rose to 35 per cent for the June quarter 2020, up six points from 29 per cent in the previous […]

Is HomeBuilder pushing up new home sales?

Posted by Terry Hansen on July 20th, 2020 in Real Estate News | No Comments
suburbs

The Australian property market continues to bounce forward amid the coronavirus pandemic, with new figures revealing there was a large increase in new home sales in June. Coming off the back of a record low result in May, the Housing Industry Association (HIA) found that there was a 77.6 per cent surge in new home […]

Buyers are snatching up homes faster than a year ago

Posted by Terry Hansen on July 13th, 2020 in Real Estate News | No Comments
selling

Not even bushfires or a global pandemic have been able to turn buyers away from the great Australian dream of home ownership, with new Domain figures showing that homes are being sold faster than they were a year ago. Domain data shows that it took an average of 69 days to sell a Sydney house […]

New places in First Home Deposit scheme released

Posted by Terry Hansen on July 1st, 2020 in Real Estate News | No Comments
keys

If you missed out on reserving a place in the federal government’s First Home Loan Deposit Scheme then now is your chance to apply again, with more slots now available. Launched at the start of this year, the scheme has proven popular with first-home buyers hoping to get their foot on the property ladder with […]

Three tweaks have been made to the HomeBuilder scheme

Posted by Terry Hansen on June 29th, 2020 in Real Estate News | No Comments
building

The federal government has recently made three key changes to its HomeBuilder grant scheme that might make it a little easier to take advantage of.  In case you haven’t heard, $25,000 cash grants are currently on offer for those wanting to build or substantially renovate their home. The scheme was introduced to boost interest in […]

Offset versus redraw – do you know the difference?

Posted by Terry Hansen on June 12th, 2020 in Real Estate News | No Comments
real estate

Many homeowners choose to make extra payments towards their mortgage in  the hopes they might be able to draw on them later if they need to. However,  depending on how your home loan has been set up, the payments you’ve been  putting away for a rainy day may not be as accessible as you think.     The issue of being able to take out extra repayments has been brought to the fore  recently after ME Bank reduced their customer’s redraw limits without telling  them first.     While the bank has now reversed their controversial decision, and customers  can contact ME to restore their redraw limits to what they were previously, the  scandal has highlighted the need for mortgage holders to be able to understand  their home loan features.    Offset vs. redraw facility     A redraw facility has a lot in common with an offset account, however they have  some very important differences too.     Both features help reduce the amount of interest you pay on your home loan and  help you pay it down quicker too.    A redraw facility is a feature of a home loan that allows borrowers to access extra  payments that have been made on top of the minimum payments required.     However, lenders may have the option of reducing the amount of redraw that is  available, and there can be costs or limits associated with accessing redraw  funds. This means that the money isn’t readily available.     In contrast, an offset account has similar benefits to a redraw facility but it sits  outside of a home loan and operates more like an everyday banking account that  can be accessed at any time.     Not all offset accounts are created equally though. Depending on your loan you  may need to transfer funds into a separate transaction account before using  them.    It’s also worth noting that some accounts don’t offset a mortgage by the full 100  per cent. These “partial” offset accounts are likely to have lower fees but you  won’t be getting the full benefit from using them.     So, which is better?    Both redraw facilities and offset accounts are beneficial home loan features to  have, but which one will work best for you will depend on how you prefer to  manage your finances.     Some people prefer offset accounts as they offer more flexibility and the ability  to access funds at need, while others find that having a redraw facility allows  them to save more diligently.     It’s also worth noting that some people use a combination of both features.     It’s worth chatting to your lender to find out which would work better for you, or  talking to a trusted financial advisor. 

How to get $25k from the government for your renos

Posted by Terry Hansen on June 5th, 2020 in Real Estate News | No Comments
renovating

If you’ve been thinking about starting a major renovation or homebuilding project then you better get started, because $25,000 cash grants are now on offer from the federal government’s HomeBuilder scheme. The $688 million time-limited program is set to provide a major boost to the construction industry. It will support 140,000 direct construction jobs and […]

Is the worst over for the residential property market?

Posted by Terry Hansen on May 29th, 2020 in Real Estate News | No Comments
suburbs

There’s no corner of the economy that has been left untouched by the impacts of the coronavirus crisis, and the property market is no exception. But there are signs that the worst could already be over for residential real estate. Findings from CoreLogic’s March Quarterly Property Market & Economic Review, which took a look at […]

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