Andrew Wilson writes a piece for the website Property Update wherein he talks about Sydney’s clearance rates that have been below 80% for two consecutive weeks. This is a first for this year. Exactly at this time last year, Sydney was in the midst of frenzied buyer activity which had resulted in extremely high auction clearances.
Tracey's Property News
Sydney Perceived As Global City
Adam Zuchetti and Nick Bendel put up an article for the website The Adviser where they dismiss any talk of Australia (and specifically Sydney) being in a property bubble. Australia, after all, is a very big geographical entity and the performance of Sydney alone cannot put the entire country in the ‘bubble’. It will be wise if we remember that many capital cities- Perth, Darwin and Canberra being just a few examples- are still languishing far behind.
Vaucluse Property Fetches Record Sale Price
Phil McCarroll writes a piece for the website Your Investment Property wherein he talks about how a mansion in Vaucluse has smashed all real estate records. The six story mansion called La Mer has been sold for an unprecedented price of $70 million. A Perth mansion sold off for $57.5 million was the highest price Australia had seen for the giving away of a prestige market property. This record sale beats the Perth property by quite a distance.
News poured in suggesting that La Mer has been bought by a local.
You can read the original article here.
Handy Tips for FHBs
Peter Boehm writes a two-part article for the website Property Update wherein he talks about 10 tips to help the First Home Buyer fraternity. Though divided into parts, each part can definitely stand on its own. Let us discuss the first 5 tips that have come our way, thanks to Boehm.
Due Diligence Needed For High Cash Flow Properties
Larry Arth writes an article for the website How to Buy Real Estate wherein he says that the seller’s word is not the one to be trusted when it comes to the subject of high cash flow. What the sellers smartly avoid telling you are the list of expenses which reduce the cash flow generated on a given property.
Reforms to Negative Gearing Proposed
With the present government coming under the hammer due to rising property prices, Labour is using the price card as a plank to seek the people’s mandate in the next elections. For this purpose, they have made a proposal which talks about making reforms to negative gearing. David Naylor reports in an article on the website Property Update.
