INVESTORS continued to elbow first-home buyers out of the property market in August, with the share of first time buyers taking out new home loans falling to its lowest level in almost 10 years. The number of housing loans fell almost 4 per cent to 49,900 from July to August, ending six straight months of rises, while the share of first-home buyers shrank from 14.7 per cent to 13.7 per, the lowest level since April...
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“Location, location, location” is one of those catch phrases drummed continually into the head of anyone who even skirts close to buying real estate. From the agent to the financier to the guy driving your cab – everyone will tell you, if the site isn’t in the right position, you’re creating a rod for your own back. If you look around, however, there are plenty of properties located in the most inauspicious spot just waiting...
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To get runs on the board, residential investors have to be able to identify in-demand rental areas. This isn’t as easy as it looks. Families who rent, older people and single and couple members of Generation Y want different amenities. And, because of affordability issues, tenants will favour some areas over others. If you’re looking to buy an investment property, it’s important to look beyond broad residential vacancy rates. For example, renters under the age...
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One of Australia’s leading developers has lost a bitter war with investors after it attempted to alter the floor plan of their luxury apartment complex to house a religious movement founded and managed by its own chief executive. Crown Group sold a vision of six-star living at its future $80 million Viking development in Sydney’s Green Square, using artists’ images depicting a Ferrari showroom occupying the ground-floor space. With the pledge from Crown that both...
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AS low interest rates prompt a fresh surge in real estate activity, a Battle Royale is looming between first-home buyers and property investors. Sadly for the first-home buyer crowd, it’s a one-sided contest. Low interest rates help both parties with their repayments, but investors typically have more financial firepower when it comes to a bidding war. Data released this week by mortgage broker AFG shows that investors snapped up between 28 per cent and 50...
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OPINIONby Tim O’Dwyer M.A., LL.BSolicitorConsumer Advocate watchdog@argonautlegal.com.au Simon Tsang was a novice property investor who made his second inspection of a likely rental house on a Saturday. That night the saleslady from the seller’s estate agency phoned. She wanted Simon to make an offer. So he did – over the phone. When the saleslady became a little stroppy Simon willingly increased his offer. Still not happy, the saleslady told Simon she would give him...
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