Residex believes there are at least 5,000+ suburbs in Australia that you should potentially consider when buying a house or a unit as an investment. That may sound daunting, but it is easy to narrow down the list by following a few simple rules. 1. Think about the long-term Magazines, newspapers and online articles or blogs about investment are a great place to start your research as they offer some useful tips and insights on...
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INVESTING in property is a no-brainer at the moment. Prices have bottomed, auction clearance rates are on fire, especially in Sydney, and you can get a fixed rate mortgage for 4.8 per cent with 100 per cent gearing, 70 per cent in your super fund. And the experts are now saying there’ll be another housing bubble. What could be better? There’s no sign of a housing bubble yet: values are only just back to where...
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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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OPINION by Tim O’Dwyer M.A., LL.B Solicitor Consumer Advocate watchdog@argonautlegal.com.au In August 2003 XYZ Holdings Pty. Ltd. entered into 11 off-the-plan contracts for the sale of apartments in a 20-unit residential building at a coastal town. Settlement was due 14 days after the establishment of the Community Title Scheme for the building. A “sunset clause” in each contract entitled either party to terminate if the project did not complete by 31st December, 2005....
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OPINION by Tim O’Dwyer M.A., LL.B Solicitor Consumer Advocate watchdog@argonautlegal.com.au Should you rely on what developers’ and their estate agents promise? A novice property buyer finds the answer to this question. In October 2009 an agent’s sign appeared on a large block near where George Jones was renting. For sale by Kyora Properties Pty. Ltd. were eighteen townhouses with construction commencing “early in 2010” and completion “anticipated” later that year. Prospective buyers were invited to “Buy...
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OPINION by Tim O’Dwyer M.A., LL.B Solicitor Consumer Advocate watchdog@argonautlegal.com.au Bronwyn Brown, wife of a Federal Magistrate, contracted to purchase an apartment in Stage 2 of a luxury river-front development. Before Bronwyn signed this off-the-plan contract, developer Tenncorp Pty Ltd delivered a comprehensive Disclosure Statement pursuant to Section 213 of Queensland’s Body Corporate and Community Management Act. Among many things this Statement included a list of equipment and furnishings – ranging from pool cleaning...
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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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Penthouse buying is an urban sport guaranteed to appeal to the competitive and successful – the position at the top of any new tower or apartment block tells the world, and those below, that you have won. Peaked. You’re top of the pile, with the best views and the biggest apartment. Melbourne’s apartment-building boom of the past decade has produced penthouses of palatial proportions, with views that take in the bay and city, and mountain...
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Australia’s leading SMSF experts have helped Smart Investor to identify the biggest mistakes investors continue to make when they manage their own retirement savings via a self-managed super fund. 1. RULES RULE, OK? SIN: not understanding the law. If you think running an SMSF is about being able to “do your own thing”, think again. The self-managed super sector is expected to continue to be under intense scrutiny from the Australian Taxation Office in the years to...
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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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