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Justprop Team member

Justprop Team member

City
The Logan suburbs with the highest rental yields for houses are Logan Central (6.49 per cent), Kingston (6.19 per cent) and Woodridge (6.16 per cent). Suburbs like Kingston and Woodridge are under a half-hour drive to Brisbane, and suburbs like Eagleby and Beenleigh are just over a half-hour drive to the Gold Coast. According to OpenAgent’s data analyst Carson Teh, the Logan region is expected to grow significantly this 2020, driven by the increase in population as well as several enhancement projects. “The Queensland government expects the population in Logan to grow from 326,615 people in 2018 to 432,000 by 2031,” said Mr Teh. “Entry-level housing is always appealing, especially to interstate investors when they compare local house prices, NSW in particular, and see significant value long term,” Mr Piotto highlighted. “Rental returns are always going to be strong with the area located right in the middle of Brisbane and the Gold Coast, great public and private schooling, and the blue-collar industry within a 10-minute drive of these areas. “With the local and state government continuing to improve amenities, new water parks, Logan Metro Sports Centre and the Logan Entertainment Centre, it’s easy to see why families get a lot of bang for their buck so to speak.” For more details, visit: x Brisbane suburbs near CBD boast above 5.6% yields Latest insights from OpenAgent.com.au found that suburbs near the Brisbane city centre boast rental yields over 5.6 per cent. www.smartpropertyinvestment.com.au
0 Reply 7 Views 12D ago
Sam2019

Sam2019

Banks
A new survey has found that almost half of Queenslanders have had their incomes cut or soon to be cut because of COVID-19, with concern for mortgages now. The Queensland figure (49 per cent) is higher than the national average (45 per cent), according to the results of the research released by financial comparison service comparethemarket.com.au. It asked respondents if they were losing income because of social restrictions, and changes they would make to their finances as a result, including mortgage repayments. Homeowners are rethinking ways to cope with job loss and potential job loss due to COVID-19 restrictions, with banks offering several options now for mortgage support. The survey found that two in every five Queensland respondents (40 per cent) were concerned about meeting mortgage repayments for the rest of the year. Among the measures being taken to cope were families freeing up cash by deferring loan or credit card repayments, accessing cash by withdrawing from their super, term deposits or life savings. Comparethemarket.com.au spokeswoman Abigail Koch said there were hundreds of thousands of Aussies “Hundreds of thousands of people are experiencing financial hardship at this time, with around six million workers expected to receive JobKeeper payments, while many others are uncertain about their financial security. “ “The Government and financial institutions have introduced a range of relief measures to help Aussies under financial pressure, stay afloat during these difficult times.” She said the firm had created a COVID-19 FAQ Hub to cope with demand for information on how the pandemic could affect home loans, credit cards, insurance and a range of other household costs. Source: x Coronavirus: Banks move to stem mortgage fallout -... A new survey has found almost half of Queenslanders have had their incomes cut or soon to be cut because of COVID-19, with concern for mortgages now. See the list of how banks are responding. www.realestate.com.au
0 Reply 8 Views 14D ago
Simon

Simon

Canberra Airport
In an update to its website, the ACT government declared that it will be providing information to tenants, landlords and real estate agents “to help all parties understand their rights and obligations during this difficult and uncertain period”.  When it comes to rent reduction rebates, the ACT government confirmed that to be entitled to this rebate, landlords must reduce tenants’ rent by at least 25 per cent for up to six months. “The government will match 50 per cent of the rent reduction to a maximum of $2,600 over six months or $100 per week. The government’s share of the rent reduction will be provided to landlords through a rebate,” it said. Further, the ACT government confirmed that it is also preparing regulations to support tenants under financial duress. These options include a short-term moratorium on evictions, temporary freeze of rental increases and prevention of “blacklisting” as a result of being unable to pay rent, it said. Breaking down the idea of rent payment freeze agreements, the ACT government said “parties may reach an agreement to delay rental payments if a tenant is not earning income”. “Any outstanding rent during this period will be a debt owed to your landlord. However, this debt will not accrue interest for the period of any moratorium,” it added. Source:x ACT government reiterates commitment to tenants an... The ACT government has issued a statement expressing its commitment to Canberrans and local businesses who are struggling amid the coronavirus (COVID-19) pandemic. www.smartpropertyinvestment.com.au
0 Reply 45 Views 1Mo ago
Royal

Royal

Banks
While no reasonable landlord wants to evict a tenant, one industry professional has flagged that more needs to be done to protect the potential four-fifths of investors who won’t benefit from NSW land tax relief. Ramon Mitchell, the founder and managing director of Gault & Co Property Advisory, has weighed in on the NSW government plan to provide $440 million in rental relief for landlords and tenants across residential and commercial properties, alongside the provision of further clarification around rental agreements and the six-month eviction moratorium. “No reasonable landlord wants to evict a tenant,” he began. “They realise the current situation has brought rental stress to tenants through no fault of their own, and property owners aren’t keen to see any tenant without a home. Secondly, securing a tenant in the near-term market will be tough, and a vacant property will not help in covering loan repayments or other costs such as maintenance,” the managing director outlined. He noted that the new guidelines allow tenants who have suffered at least 25 per cent reduction in income – after factoring in all financial support – to approach their landlord and open discussions on rent payment reductions for a set period. “The tenant will still be liable for unpaid rent during the reduction period, but the liability will be deferred,” Mr Mitchell said. In essence, it means the tenant is not excused from their rent obligations under their lease agreement, with Mr Mitchell highlighting that this news will be of relief to landlords: “Unless both parties agree to waive the lost rent, the tenant will need to pay back the outstanding rent once coronavirus restrictions are lifted.” Details:x Banks still required at rent relief table There’s been a call for the banks to play a bigger role in NSW’s rental relief policy. www.smartpropertyinvestment.com.au
0 Reply 52 Views 1Mo ago
Justprop Team member

Justprop Team member

Banks
Fitch Ratings has announced that it has downgraded the issuer default ratings (IDR) of Australia’s major banks and their New Zealand subsidiaries – ANZ/ANZ New Zealand, the Commonwealth Bank of Australia (CBA)/ASB Bank, NAB/Bank of New Zealand, and Westpac/Westpac New Zealand – from “AA+/F1+” to “A+/F1”. The ratings agency also joined Moody’s Investors Service in revising its outlook on the operating environment for banks in both Australia and New Zealand from “stable” to “negative”. Fitch claimed that the decision reflects expectations of a “significant economic shock” in the first half of 2020 (1H20) due to social distancing directives from government authorities designed to curb the spread of COVID-19. The agency claimed that as a result of such measures, it expects both Australia and New Zealand’s GDP to “shrink” in 1H20, with only a “modest recovery” in 2H20 and into 2021. Fitch added that unemployment is “likely to spike sharply and remain very elevated” relative to pre-coronavirus levels and has therefore forecast a deterioration in asset quality and a decline in earnings, which it said would be “alleviated” by government, regulatory and banking relief assistance provided over the past few weeks. S&P Global Ratings has also downgraded its outlook for Australia’s big four banks and Macquarie Bank from “stable” to “negative”, in line with its downgrade of the Commonwealth of Australia’s long-term issuer credit rating. The big four banks have acknowledged the downgrades but stressed that they remain well capitalised to manage the ongoing crisis. These downgrades follow the release of a new stress test analysis from S&P regarding its operational expectations for the banking sector over the coming months. According to S&P’s “Scenario and Sensitivity” analysis, credit losses across Australia’s banks are set to “more than triple” in the 2020 calendar year as a result of the ongoing crisis. S&P’s base case is for credit losses across Australia’s banks to rise from 0.14 per cent in 2019 to 0.5 per cent in 2020. The ratings agency said economic consequences form the coronavirus outbreak would be compounded by “second-order” effects from natural disasters in late 2019 and early 2020. S&P’s base case also predicts an 8-10 bps decline in the banks’ net interest margins, a 3 per cent decrease to net interest income, a 10 per cent decrease in other operating income and a 2 per cent rise in operating expenses. The ratings agency said it expects the banks to withstand cost pressures associated with the spike in credit losses but acknowledged that a “longer-lasting and more severe COVID-19 crisis” could result in “significant problems for the Australian banking system”. Read details:x Big banks downgraded by ratings agencies Expectations of a “significant economic shock” in the first half of 2020 have prompted both Fitch Ratings and S&P to downgrade Australia’s largest banks. www.smartpropertyinvestment.com.au
0 Reply 71 Views 1Mo ago
Justprop Team member

Justprop Team member

Banks
Business closures and job losses have had a flow-on effect for many Australians who are now struggling to manage their home loan repayments. This has prompted the major banks to throw a lifeline to mortgage holders. ANZ, Commbank, NAB and Westpac are freezing home loan repayments for eligible customers for up to six months, although, in most cases, interest will continue to accrue. It’s important to check the conditions with the individual bank. Here’s a breakdown of what the Big Four are currently offering existing mortgage holders in response to the coronavirus pandemic. 1. ANZ Under a home loan repayment deferral, ANZ customers won’t be required to make repayments to their home loan for a period of time. Unpaid interest during the period is capitalised, meaning it’s added to the customer’s outstanding loan balance to be paid over the remaining loan term. 2. Commonwealth Bank CommBank today announce further changes to support home loan customers impacted by coronavirus. Mortgage holders who’ve been granted a six-month home loan holiday will also receive a one-time payment “to offset interest on interest costs during the six-month deferral period.” The payment amount is dependant on the loan balance. Here are the other relief measures for Commonwealth’s home loan customers: Options to access redraw facilities for eligible loans, reduce repayments or transition to interest-only payments during the period Reduced rate of 2.29% pa (3.99% p.a. comparison rate) for new one, two and three-year fixed-rate home loans for owner-occupiers paying principal and interest, effective 30 March From 1 May, eligible customers paying by direct debit will automatically have their investment/home loan repayments reduced to the minimum. Those wanting to continue higher repayments should contact the bank. 3. NAB As well as a six-month mortgage deferral for struggling owner-occupiers or investors, NAB’s support for home owners during COVID-19 includes: Access to redraw facilities for customers ahead of their home loan repayments, or with savings in an offset account. Eligibility and balances can be checked through NAB online or app banking Reducing repayment amounts during the period Request for financial hardship assistance on personal loan repayments. 4. Westpac Under Westpac’s COVID-19 Customer Support Package, home loan customers will be able to apply for a repayment deferral for an initial three-month period, and a possible three-month extension after review. The bank has also announced a $10 billion home lending commitment, to support more Australians into their next home. Westpac is also offering new-low fixed home loan rates for one, two or three years for owner-occupier customers paying principal and interest. Read more: x How the Big Four Banks are Helping Mortgage Holder... As the COVID-19 crisis continues to affect hip pockets across the country, the big four banks are coming to the table with relief measures for mortgage holders. www.realestate.com.au
0 Reply 114 Views 1Mo ago
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