Source:  API IN the Federal Budget on 9th May, depreciation allowances forming part of an investors income tax deductions for second hand residential investment properties were effectively killed off. This will apply to the purchase of any second hand properties where the contract to buy is entered into after 7.30pm on 9th May 2017. Contracts entered into prior to this date will be grandfathered and deductions will still be able to be claimed. What this means is not en...

Source:  API OPINION: THE Budget measures include a radical plan to shift the responsibility of accounting for GST from property developers to purchasers. Under the proposal, purchasers must remit the GST directly to the Australian Taxation Office (ATO) as part of the settlement process. The proposal will apply to newly constructed residential properties and new subdivisions from 1 July 2018. What does this mean for the developers? The full impact for developers will depe...

Source:  CoreLogic.com.au The CoreLogic May Home Value Index results out today confirmed that the capital gains trend has slowed over recent months with dwelling values edging 0.4% higher over the three months ending May 2017.
According to CoreLogic head of research Tim Lawless, Australia's capital cities saw a cooling of housing market conditions over the seasonally weak month of May with the CoreLogic hedonic home value index reporting a -1.1% fall in dwelling values ...

Source: REIQ Broadly speaking, the Queensland housing market will not be significantly impacted from announcements in the Federal Budget. We are disappointed in those measures that limit investor activity because the Queensland housing market urgently needs investors. As a state that does not face a significant housing affordability issue, most of the measures were designed to tackle problems that are faced by Sydney and Melbourne markets. We have 93 suburbs in Greater Brisbane...

Source: Russell Buckley, nadia Czachor & Ian Wright, CBP   In brief
The case of Moreton Bay Regional Council v Caseldan Pty Ltd [2017] QCA 72 involved an application for leave to appeal a decision of the Land Appeal Court to the Court of Appeal. The Council sought to challenge the decision of the Land Appeal Court regarding the value of land located adjacent to South Pine Road in Brendale which was compulsorily acquired by the Council.
The Council compulsoril...

Source:  Choice.com.au Figuring out what a property's worth is a tricky task, and when the market's hot, prices can change quickly. But an accurate assessment of the value is critical if you don't want to pay too much when you're buying, or miss the mark on your home's value when selling. Luckily, there are a bunch of resources out there to help some are free, while others will cost you. But how reliable are these sources, and how much do they differ in their ...

Source:  Dr Shane Oliver, AMP Capital - 15/03/2017 Key points The Sydney and Melbourne property markets have hotted up again and high house prices and household debt leave Australia vulnerable. But a property crash remains unlikely. Expect average home prices to fall 5-10% once an interest rate tightening cycle gets underway in 2018-19. Sydney and Melbourne unit prices are most at risk. More macro prudential measures to slow property demand are likely on the way....

Source: Australian Property Journal MEDIUM and high density apartments supply in inner city Brisbane are beginning to outstrip demand, with vacancies having reached 4.4% almost at a decade high. REIQ data show regional Queensland recorded strong vacancy improvement over the March quarter, however the strong level of apartment supply within 5kms of the Brisbane CBD over the past 18 months has pushed vacancy rates up from 3.6% in December quarter to 4.4% in March, which is significan...

Foreign ownership of new developments will be restricted, there will be steeper charges applied to purchases, less favourable tax treatment and charges on those with empty properties, in a raft of measures in the federal budget aimed at taking the sting out of the housing market. One measure to be introduced from Tuesday is for foreign buyers to be slugged a fee for having a property that sits empty for six months or more in a year. Those who don't have a tenant in their property,...

Source:  Choice.com.au Figuring out what a property's worth is a tricky task, and when the market's hot, prices can change quickly. But an accurate assessment of the value is critical if you don't want to pay too much when you're buying, or miss the mark on your home's value when selling. Luckily, there are a bunch of resources out there to help some are free, while others will cost you. But how reliable are these sources, and how much do they differ in the...