How women invest in property?

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In the lead up to Mother’s Day Property Mentors Australia hosted the ‘Women + Wealth’ webinar on 5th of May 2016 to celebrate women investors in the property world. Did you know that 47% of Australian investment properties are owned by women (ATO March 2016) and of the 927 000 Australian women who own an investment property, 570 000 of them use negative gearing to build wealth and save for retirement? Read more

Will renting your property through Airbnb breach your rental agreement?

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In an article by Kirsten Robb for Domain ‘Airbnb: Victorian laws under pressure as landlord fails to evict ‘sublet’ tenants’ , leaseholders need to be mindful that using their rental property as an Airbnb could breach their rental agreement.

However landlord unsuccessful in this case, Catherine Swan a St Kilda property-owner could not evict tenants Barbara Uecker and Michael Greaves who listed their apartment’s two bedrooms on the Airbnb website. The Victorian Civil and Administrative Tribunal decided that the tenants had not technically sublet their apartment. Read more

How to use Feng Shui to sell your property development

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Asian appeal is key to the best way to sell your internationally- marketed property projects to Asian foreign investors.

In 2013 Chinese investors invested approximately $7 Billion in Australian real estate (FIRM, CLSA). Part of the success is attributed to Developers investing in appealing to the target demographic through targeted marketing visuals. Read more

Good news for local buyers!

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Good news for local buyers! The tightening of banks lending policy to foreign lenders will make it easier for Australian residents to borrow money to buy property.

In a report by Sophie Elsworth for Herald Sun ‘Home run for locals’, “temporary residents not earning an income in Australia will no longer be able to get a home loan from the Commonwealth Bank”. Read more

The ‘national interest test’ on foreign ownership of agricultural land

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How do you balance attracting investment and protecting the national interest of Australia?

In a report by Luis Feliu & Hans Lovejoy, ‘Foreign ownership interest tested’ for Echo the federal government under its ‘national interest test’ approved an $18M macadamia farms sale to Chinese investors. This has sparked debate in regards to foreign ownership legislation. Read more

The National Property Clock

Herron Todd White (www.htw.com.au) is Australia’s largest and arguably most respected, independent property valuation company. They are the organisation many property developers, banks and investors turn to in order to make informed decisions about their investments.

Herron Todd White’s brilliant report Month in Review, offers a comprehensive review of the property market in Australia. We highly recommend this report which can be downloaded in full here.

Herron Todd White’s National Property Clock (below) provides a simple, yet insightful, summary of how the major property markets of Australia are positioned in their growth/ decline cycle. For example, it shows that:

–         Melbourne is approaching the peak of the property market; whereas

–          Brisbane and the Gold Coast are in rising markets; and

–          The Sydney and Perth’s property markets are rising.

We are delighted to be able to share this with you.

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Finding holes in Australia’s new FIRB laws?

There is a popular ancient proverb about ‘wills’ and ‘ways’ that could be proving a tad prickly for Australia’s Foreign Investment Review Board.

In a report by Byron Kaye, ‘Asian property giants sidestep Australia’s foreigner rules’ for Reuters, “A loophole in Australian property rules has helped overseas developers invest what industry executives believe were record levels in the country in 2015, casting doubt over the efficacy of curbs intended to keep a lid on soaring prices

New developments are exempt from the restrictive rules, and according to a Reuters review, “foreign- financed residential “off the plan” construction approvals hit a record total value of $16. 4 billion in 2014, triple the previous year. Analysts and industry players expect that 2015 will turn up an even higher number”.

At a time where housing affordability is a highly political issue, will this loophole throw more gas to the fire?

Read the article in full here: http://www.domain.com.au/news/asian-property-giants-sidestep-australias-foreigner-rules-20160216-gmuwpa/

Top 10 Towns and Suburbs in Victoria to Invest in 2016

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We asked industry experts where they would buy in 2016.

Phil Horan, National Director, Hello Real Estate-

Wodonga which is on the brink of a construction boom with a string of large scale projects about to commence.

Ballarat whose population is expected to reach 130,000 within 20 years as more people leave Melbourne for regional Victoria.

Bendigo is a key regional center, thanks to its steady local economy, proximity to Melbourne and good transport links to the capital – soon to be improved by the $5 billion Regional Rail Link.

Casey is a key population growth area for Melbourne and has emerged recently as a growth property market, with many suburbs attracting rising sales activity from buyers.

Dandenong showed exceptional capital growth between 2007 and 2010, and it now presents as a location on the cusp of a new growth phase, based on its affordability, good transport links to central Melbourne and extensive spending on infrastructure.

Epping/ Craigieburn has plenty of good reasons that are worthy of consideration by investors. They include: The Western Ring Road upgrade, Relocation of Melbourne’s fruit & vegetable markets to Epping, Austrak intermodal terminal at Somerton, Relocation of Coles Myer’s key distribution facility to Somerton, Major housing and retail developments.

Frankston was an active property market in 2009/2010 offering affordable homes by the sea popular with first-home buyers as well as million-dollar homes along the beachfront. The Frankston market paused, in line with wider city trends, in 2011-2012, but is now poised for a comeback, boosted by new investment and numerous commercial developments.

Maryborough was originally a gold mining area, developed on the back of the agricultural industry and now it is a growing manufacturing centre, which also attracts tourists through its rich gold mining heritage and architecture. It has appeal for investors as a growing town with affordable real estate options.

Suburbs in the City of Monash is one of Melbourne’s steady markets with major infrastructure and employment prospects are strong, with Monash Health, the largest public health provider in Victoria, employing 13,000. More jobs will become available when Chadstone Shopping Centre expands, employing 2,700 construction workers and creating a further 2,200 operational jobs upon completion.

Sunshine and surrounds are destined to become a major regional hub within the Melbourne metropolitan area nominated in the ‘Melbourne Metropolitan Planning Strategy’ as the key area for development and infrastructure spending in the city’s western suburbs.

Contributor: Philip Horan CEO of Hello Real Estate Ltd and the Author of;

‘If You Love Your Real Estate Agent Don’t Buy This Book’  www.philiphoran.com.au

 Louise Syphers, Mortgage Broker, Lakeside Financial

I find many of my clients in particular when buying property often look at the following when determining property-

  • Access to public transport
  • Education public schools and private schools

Particular areas given the above I can see further growth in the next 5 years is –

  • McKinnon
  • Glen Waverley
  • Oakleigh
  • Berwick
  • Footscray (close to the city and still very good property prices)

Contributor: Louise Syphers, Lakeside Financial http://www.lakesidefinancial.com.au/index.php

How to choose the right Conveyancing Lawyer (Queensland)

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You’ve recently made the biggest investment of your life and now you need to find the right conveyancing lawyer to assist you through the confusing legal process.

If you’re from Brisbane your first instinct is to search Google for “Conveyancing Brisbane”. With so many lawyers to choose from it’s tough to make a decision.

  • Do I choose the first conveyancing law firm that appears on Google?
  • Do I need a lawyer from my local area or close to my new property?
  • Do I choose the cheapest?
  • How do I know if they’re any good?

Most inexperienced property buyers and/or sellers underestimate the importance of asking these questions. Choosing a dud conveyancing lawyer is synonymous with a stressful settlement process, paying hefty penalty fees and in some cases even losing your deposit.

I don’t know about you but if I’m going to trust somebody with the biggest investment of my life, they better be good!

Here’s how to choose the right conveyancing lawyer:

Your conveyancing lawyer doesn’t need to be local or close to your new property. So for example you may live in Robina your new property may be in Coomera and your chosen conveyancing lawyer may be in Brisbane or Surfers Paradise. It’s far more important to choose the right conveyancing lawyer based on their excellent reputation for service rather than location. With modern day technology the conveyancing process can be completed from anywhere in Queensland.

Ask family and friends for a recommendation

A great way to find any kind of service is by word of mouth. I’m sure you all know somebody who has recently bought or sold a property. Why not ask that person who they used and how they found the service? To be guided by the people we trust is always a good start.

Hit the online reviews

People love to share their experiences online, the good, bad and the ugly. Look to sites such as WOMO or Google Reviews to see if the conveyancing lawyer you are considering has the peoples vote.

Call and actually speak to someone

It’s simple to get an online quote however nothing beats picking up the phone and having a conversation. You can learn a lot about someone and the service they provide by their phone acumen.

For example if the person you speak with makes you feel comfortable and confident in the service they provide, If they are happy to share information with you about the conveyancing process and if they genuinely take an interest in speaking with you then most likely they’re going to be good.

Use professional fees as a guide

What’s it going to cost me?

In my experience good conveyancing lawyers don’t compete on price and nor should you!

Beware of conveyancing lawyers that offer dirt cheap conveyancing fees.

You’ll never hear from them.

You won’t be guided through the process.

You won’t have an experienced lawyer doing your work but rather an inexperienced law clerk who will end up costing you more in the long run.

Website great or not

Use the website as an indication on whether the conveyancing lawyer behind the website is up to scratch. If the website is poorly designed and difficult to navigate it’s likely to be a reflection on the service you will receive. Professional’s who take pride in their online appearance certainly deserve an extra tick of approval.