Archive for September, 2019

Understanding new depreciation legislation on second hand residential property by Tyron Hyde

In May 2017, when the changes were announced in the Federal Budget regarding the changes to depreciation that will apply to second-hand residential properties, not many people understood what exchanged changes appeared and how it affected them. Property investors who acquire a second-hand residential property after May 10, 2017, that contain “previously used” depreciating assets, will no longer be able to claim depreciation on those assets. Depreciating assets, in this case, refers to things like ovens, dishwashers, blinds, etc. The Federal Government successfully voted on new legislation to change the way depreciation works, representing the biggest move in the industry. The best way to understand it is to... View article »
Posted in Latest news, News on 19th September, 2019

7 things you need to know about the Australian property market according to Shane Oliver

After the biggest fall in at least 40 years – with a 10.2% top to bottom fall between September 2017 and June this year - average capital city home prices have turned up again. IT’S STILL EXPENSIVE This has been the case since early last decade and remains so despite the recent correction in prices: According to the 2019 Demographia Housing Affordability Survey the median multiple of house prices to income is 5.7 times in Australia versus 3.5 in the US and 4.8 in the UK. In Sydney it’s 11.7 times & Melbourne is 9.7 times.The ratios of house prices to incomes and rents relative to their long-term... View article »
Posted in Latest news, News on 13th September, 2019

Trees can add $50,000 value to a Sydney house

Sydney’s Inner West Council has a new policy that it is reported means “residents will no longer need to seek council approval to prune or remove trees within three metres of an existing home or structure”. Green infrastructure offers significant, economic, social and environmental benefits. Urban greening is particularly important in dense urban areas like Sydney’s Inner West. Among its benefits, green infrastructure: Improves air qualityProvides space for social interactionManages stormwaterReduces the urban heat island effectProvides space for urban food productionImproves biodiversity Tree canopy in Sydney area A 2017 study focusing on three Sydney suburbs found a 10% increase in street tree canopy could increase property values by... View article »
Posted in Latest news, News on 12th September, 2019

2019 has been and still is the perfect year for rentvestors

One of the most common questions we are hearing is whether locals should be diving in and buying their primary residence or, adopting the new age theme of rentvesting (renting where you want to live and buying elsewhere). While the old school notion is to buy a house and pay off your mortgage, market conditions currently represent that the latter is proving to be more financially viable for those located in the Harbor City. The fact is that there has been no better time in the last decade to be a rentvestor in Sydney than right now. There are a number of factors in the current... View article »
Posted in Latest news, News on 5th September, 2019