During 2023, some houses in Australia could be bought for $130,000, while some Capital City suburbs have a medium house price of around $400,000.
The Australian median property price does not apply everywhere, with Longueville, in the Lower North Shore of Sydney, having the highest median … Read the rest
According to the latest PropTrack Home Price Index, the Australian national median home value climbed by 0.22% in November 2023, to $761,000.
This led to news reports such as:
“Home prices across Australia have climbed to new heights yet again, delivering an early Christmas present to homeowners and defying last … Read the rest
In all Australian States, other than Tasmania, it is legal for prospective tenants to offer more than the advertised rent, in the hope of getting the property for themselves.
When a tenant offers a higher rent, in the hope of securing a rental property, they are effectively pushing up the … Read the rest
The NSW Government now provides first home buyers, purchasing properties for between $650k and $1.5million, the ability to choose to pay an annual property tax instead of stamp duty.
The property tax will only be payable by first home buyers who choose it, … Read the rest
The Australian Budget announced on 25 October 2022 includes the promise to have one million New homes built over the next 5 years.
The Federal Government is committing $350 million towards 10,000 of these homes. That is $35,000 per house.
Each State will … Read the rest
First Home Buyer Statistics.
61% of First Home buyers were under 34 years old.
9% of First Home buyers purchased without a mortgage.
80% of First Home buyers were not single people.
67% of First Home buyers purchased a detached home.
31% of Australian households own their home without a mortgage.
Of the 10,852,208 private dwellings counted in the 2021 Census
35% of households own their home, but have a mortgage.
31% of households own their home, without a mortgage.
30.6% of households are renters.
3.4% were … Read the rest
Stamp Duty or Land Tax?
Which is best, an upfront Stamp Duty, or an Annual Land Tax, when buying a property?
New South Wales has proposed following the ACT in removing Stamp Duty on property purchases and replacing this with an annual property tax.
Dominic … Read the rest
A first home buyer can use up to 40% of their super balance, up to a maximum of $50,000, to use as part of their Deposit for a home.
They must provide at least 5% of their Deposit from their own savings.… Read the rest
According to the latest CoreLogic report, the median value of an Australian property, including freestanding homes and units was $738,975 in March 2022.
The Capital City median values were:
Source: … Read the rest
