Archive for October, 2018

Capital Gains Withholding: Impacts On Foreign Investors And Australian Residents

Legislative provisions which impose foreign resident capital gains withholding payments in regard to property acquisitions came into effect in July 2016. An updated rate and threshold now applies to contracts entered into after 1 July 2017. From 1 July 2017 the threshold to withhold has been reduced from $2 million to $750,000 and the withholding rate has been increased from 10% to 12.5%. Although these provisions are designed to impose withholding payments liability on foreign residents, they effectively impose important obligations on all purchasers and vendors where the purchase price of real property is over the threshold amount. The ATO has said that... View article »
Posted in Manage, Rent on 3rd October, 2018

The Divorce Process Explained

Today in Australia a court does not consider why the marriage ended. The only ground for divorce is that the marriage has broken down irretrievably. That is, there is no reasonable likelihood that the parties will get back together. Separation To be eligible to file an application for divorce, the parties must have been separated for at least 12 months. If the parties separated but remained living under the same roof for any period of time (or are currently living under the one roof), there are further requirements that the Court will consider. You will need to provide additional evidence to prove that... View article »
Posted in Manage, News on 3rd October, 2018

Newington – Market Report Q2

Click here to read the report: www.imags.com.au/property_nest_newington_report/#4  View article »
Posted in Buy, News on 3rd October, 2018

Cabarita – Market Report Q2

Click here to read our report: www.imags.com.au/property_nest_cabarita_report/#1 View article »
Posted in Buy, News on 3rd October, 2018

Sydney Olympic Park – Market Report Q2

Click here to read our report: www.imags.com.au/property_nest_sop_report/ View article »
Posted in Buy, News on 3rd October, 2018

Bigger Than The Bridge Metro West

It is going to cost $20 billion, will see a train pull into Parramatta from Sydney every 20 minutes and its effect on businesses and residents will be comparable to the building of the Harbour Bridge. Transport Minister Andrew Constance was in Parramatta on Tuesday to press the go button on the 50km of underground Metro West rail line set to be fully operational by 2025. Mr Constance kicked-off consultation on the projects final design which will relieve pressure on the Western Line. To me, it's like the Harbour Bridge almost 100 years ago in terms of its consequence and the effect... View article »
Posted in News on 3rd October, 2018

SYDNEY PRICES NOT EXPECTED TO FALL

Over the past 3 weekends Sydney Auction Clearances have been on the decline, with increasing City and East suburbs properties passing in. But as much as buyers hope for a price drop, there simply aren’t enough properties for sale to have that happen. While the weekend’s result was weak, there were buyers at the majority of auctions on the weekend and offers were made, but “in some cases the vendors weren’t prepared to accept those offers”. More than half will sell within the next seven to 10 days, with a number of sales already recorded. Three months ago it was really hard to... View article »
Posted in News on 3rd October, 2018

Point Piper Estate Elaine Sold For More Than $70 Million.

The Fairfax family have sold their Point Piper estate Elaine, setting a national house price record of more than $70 million. The vast 6986-square-metre estate on Seven Shillings Beach was bought by a local family who are expected to keep it as a single, private estate. Exclusive listing agent Ken Jacobs, of Christie’s International, was unable to reveal the sale price or buyer details, but was asking $75 million before it sold late on Friday. The previous house record was set at $70 million in 2015 when Mr Jacobs sold the Vaucluse mansion La Mer on behalf of James and Erica... View article »
Posted in News, Sell on 3rd October, 2018

Sydney Olympic Park The Destination For High-Rise Houses

Developer Ecove has created a selection of super-size, four-bedroom apartments in its Boomerang project on Olympic Boulevard which cater for the needs of growing families and couples seeking extra space and comfort. The apartments are 178 square metres and have floor-to-ceiling glass facades of around 36 metres – twice the frontage of a standard house block in the adjoining suburb of Concord. The up-scale apartments are on the upper levels of the 38-level tower and will provide panoramic views north over Homebush Bay to Chatswood, east to the Sydney CBD, south over Bicentennial Park to Sydney Airport and west to the Blue... View article »
Posted in News on 3rd October, 2018

Project Sydney: Olympic Park Will Be Our New Golden Mini-City

SYDNEY Olympic Park will be transformed into a 24/7 mini-city within 14 years — with 45-storey residential towers, a thriving shopping/cafe precinct, 17,000 new jobs and 10 times its current population. 2030 Master Plan for Olympic Park shows that it will become a centre for Sydneysiders to live, work and play in. Revelations of the changes at Olympic Park come as The Daily Telegraph today launches Project ­Sydney, an editorial campaign aimed at encouraging long-term thinking in planning a better city. This new lease of life for the precinct guarantees the long-term legacy of the home of the Sydney Olympics 16 years after... View article »
Posted in News, Sell on 3rd October, 2018