Sydney has met the oncoming autumn season on an even keel, reciprocating its warmth and robustness beautifully. For the second week on a trot, its auction clearance rate has gone past the coveted 80% mark. Critics could say it was a skewed figure had the listings been too few (as is the case with Adelaide) but Sydney auctions saw 596 properties coming under the hammer. Every reason to be ebullient then!
Tracey's Property News
Co-investing in property with your loved one
Michael Yardney speaks about the prospect of co-investing in properties with your loved ones. In an article for the website Real Estate View, he addresses the situation suggesting that the intent is right but the results may not be something to be jubilant about.
Investing with your loved ones can bring money into the equation, at times compromising the strength of emotional attachment. Yardney also speaks unequivocally about instances of faulty borrowing, jeopardised future creditworthiness, misuse of equity, and ill-decided exit plan, among other things, in the event of investing with friend or family.
Ideally, asserts Yardney, you must compartmentalise roles and prefigure who will take up just what. Such roles may include, but are not restricted to, defining goals, responsibilities, legal and financial obligations, and profit distribution.
You can read the original article here.
How did you go ahead with the idea of investing with your loved one?
Best Way of Approaching your First Home
Are you feeling stuck for ages at your parent’s place? Do you think you have blown enough on rent? Or may be, the idea of home ownership has started making its way into your dream figments. Newsflash: you can own your own home and why not- don’t we have the highest percentage of home owners on the planet? In fact, for reasons more than one, 2014 seems like the best time to fulfil your ownership ambition.
NSW Borrowing the Highest Sum For Homes
In a bid to realise their dream of home ownership, Australians are not shy of borrowing more. In an article for the website realestate.com.au, Venessa Paech reports that the national average home loan size has increased by 6.4% over the last couple of years. On an average, people are borrowing $319,200 for fulfilling their ownership ambition.
Properties Available for Sale Take a Hit In Sydney
Number of properties up for sale in Sydney has plummeted by 17% over the last year. This brings the listings at par with the 2008 figures. An article on the website Smart Property Investment throws light on the subject.
Only 20,080 properties are listed for sale presently and this can drive the prices beyond the ceiling. Taking cue from Jan 2009-Jan2010 performance when house prices had spiked by 19.6% despite higher number of listings, investors can expect some serious capital growth in Sydney.
The drop of 17% in number of available properties is bound to make news as Melbourne, an accepted yardstick for Sydney’s performance, has only conceded 5.4% in its listings.
You can read the original article here.
Do you think undersupply might make housing unaffordable in Sydney’s case?
Finding Enough Financial Muscle for Your First Home
First home buyers are not serving too many aces these days. While I concede they are taking a beating from a very accomplished adversary (the investors), they are worsening matters by making a lot of “unforced errors”.
Australia, statistically, has the highest percentage of home owners on this planet. Need it be said then that you may be harbouring intentions of participating in this great Australian dream, too. If yes, do not but treat it as the most important decision of your career, one whose implications will be spread over the next decade, at least. Let me take you through the Dos.
