Pete Wargent provides a short report on Sydney and delves into the Multiplier Effect in an interesting article for the website Property Update. According to Wargent, NSW will piggyback on Sydney’s powerful drive towards becoming the hub of Asia Pacific.
Tracey's Property News
Real Estate Decisions Impacted by Psychology
An article on the website Smart Property Investment talks about the positive and negative biases investors have; those which do not let them apply their rationale before making investing decisions.
Off-the-plan Segment To Remain Strong
Sydney’s high-density off-the-plan segment has given critics something to throw themselves at but any predictions about a looming crisis may be premature. A piece on BIS Shrapnel’s website confirms that the high density market is likely to remain as strong in the coming couple of years. A lot of this can be put down to high rental yields, low vacancy rates and interest rates apart from anticipation of capital gains.
Role Of a Valuer General
The government requires evaluation of specialists for its lands. Transparent and fair assessment of land values is being provided by the Valuer General. While the names and designations may vary based on the states and territories, the job remains more or less the same.
Property Taxes Boost Government Coffers
In an article for the website Property Update, Cameron Kusher informs that property sources make up for a bulk of tax revenue collected by the local and state governments in Australia. $35.931 billion has been collected under the head of property taxes in the financial year 2012-13.
Over the financial year, property taxes have witnessed a hike of 7.2%. Land tax, Stamp duty and municipal rates make up for a large volume of property taxes. It is interesting to note that the much-debated Stamp Duty comprises of 36% of total property tax volume.
You can read the original article here.
Mortgage Levels Show Positive Consumer Mindset
Miriam Bell’s piece for the website Your Investment Property clarifies that there is nothing to deter property investors from house-hunting. Mortgage levels are at a record high and this can be put down only partially to prevailing low interest rates. A great part of investor-loan frenzy can be attributed to consumer sentiment (which paradoxically has got a beating after the Federal Budget).
The never-before figure of $4.2 billion of loans written in May has a 40% investor share. The remaining is made up of first home buyers, next home buyers and owner-occupiers.The wide demand for mortgage brokers has also catapulted the mortgage levels. FHB share, Bell writes, is different for different territories. The range is 3.5% to 10% of the total property investments.
You can read the original article here.
