Home prices remained stable in October 2010 but subsequent interest rate rises and a greater supply of housing is likely to see falls in the coming year. According to recent RP Data, for the three months to October 2010, capital city housing values were up in Canberra (2.4 per cent seasonally adjusted), Darwin (1.7 per cent), …
Property prices went up by 30% to 92% in the past 5 years across capital cities
Sydney property prices went up by 30% while Darwin house prices increased by 92% and prices in Melbourne rose 61% in the past 5 years. Hobart had median price increases of 31% in the five years to the end of September 2010, RP Data’s property pulse report showed. Across Australia combined property values increased by …
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Should I take the risk to buy an investment property or just leave the money in a term deposit?
I think one of the most fundamental decisions any property investor has to make is whether to invest in property or term deposit, i.e. “how much more will I make with my money by taking the risk and buying a property and is it worth it or should I leave the money in a term …
Can I claim tax deduction for a special levy the body corporate imposed?
Question: I recently bought my first investment property, there was an extra $2000 special levy charged by the body corporate to repaint the whole building. I presume it falls under repair and maintenance so it is tax deductible, right? Answer: As the building was in need of a repaint when you purchased the investment property, …
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Can I claim tax deduction for the expenses happened before the property was rented out?
Question: I recently bought my first investment property in April 2010. Unfortunately it wasn’t rented out until early July. I wonder if I can still negative gear anything (claim tax deductions) for the period that the property was vacant though I received no rental income? Answer: Although you didn’t get any rental income for the …
Average 233% return on investment property in Sydney 1993-2010
Property investors can achieve an average 233% return on investment property in Sydney if they buy in 1993 and hold the property to 2010. Sydney’s median house price rose 233 per cent between the June quarter of 1993 and the June quarter of 2010, from $188,050 to $626,444, according to the latest housing price figures …
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How much does it cost to renovate a house?
How much does it cost to renovate a property? According to Archicentre, the average renovation project in NSW is valued between $75,000 and $150,000. If you want to add an 80-square-metre ground-floor extension with inclusions, you’ll be looking at $164,526 to $310,896. Less than half of the expense will go towards materials. Labour will cost …
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Free refinance mortgage calculator makes it easy to refinance your home loan
Although it was a simpler process to refinance a mortgage than applying for a new loan, many homeowners are not sure about the potential savings from refinancing mortgages. Indeed, whether you can save money depends on the new interest rate, new loan term, new repayment, when to refinance, and the consideration of resale. Majority of …
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Property bubble? 24% overvalued prices? – This is the best study on Australian property market!
There is no property bubble, but property prices are more than 24% overvalued. According to an article from SmartCompnay, Goldman Sachs’ chief economist Tim Toohey has made an extremely valuable contribution to the Australia property bubble debate. In his recently released comprehensive report, A Study On Australian Housing: Uniquely Positioned Or A Bubble?, he took …
Can we claim tax deductions when renting out primary residence?
Question: We are moving interstate and own a property with a $300,000 mortgage that we would like to keep as an investment property. I would like to know: (1) Is it true that if we keep this as our primary residence we won’t pay capital gains tax if we sell within six years. (2) Can we claim tax deductions connected with …
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Latest home loan mortgage LVR ratio
Can I get a LVR 95% home loan (you can download a free Excel LVR calculator)? The answer is yes. In August 2010, the Commonwealth Bank, Westpac and the ANZ relaxed their lending criteria. Westpac lifted its maximum LVR to 92 per cent while the ANZ went further, to a maximum LVR of 95 per cent. …
Do I have to pay capital gains tax on the half property I inherited from my spouse?
Question: My spouse and I owned an investment property in joint names until my partner’s death 10 years ago, when I became sole owner. The property was sold last year. The property was not our main home. Do I have to pay capital gains tax on the half I inherited? Answer: If the property was …
“Get rich quick” or just real estate property hoaxes & scams
Property is a long term investment and proven performer in any economy, but “get rich quick” courses and seminars offered by wealth creation ‘gurus’ are giving a bad name to the entire property investment industry. The problem is that these courses, which is normally free, are essentially capturing people who aren’t ready to invest and …
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Property investment strategies – How to pick a good investment unit or apartment
Are units or apartments good or bad for property investment? What factors should you consider when buying investment units or apartments? Many people invest in apartments because they often have a cheaper buy-in price than houses and are also thought to be a lot easier to maintain without gardens to worry about, and with the costs of …
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Top 10 places in WA (Western Australia) to buy investment property
Do you know the best places in WA to invest in property? Here is a list of WA’s top 10 suburbs and towns where there is potential for good capital growth or better-than-average rental yields. Top 10 Western Australia property hotspots Albany: Lifestyle features, government decisions, urban renewal Broome: Lifestyle features, boom town, government decisions …
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