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Liam

Liam

Grant
The new Federal Government HomeBuilder grant is set to ignite affordable locations and further help first-timers across the nation. The program will be of huge assistance to the construction sector over the next six months, which is good news for everyone given the industry’s importance to the overall health of our economy. The eligibility criteria of the scheme, including maximum income and purchase price limits, means that it will likely benefit first home buyers as well as buyers in more affordable areas the most. The HomeBuilder grant program will provide $25,000 for the construction of a new property, which for first home buyers will be additional grant funds to what is already available. In most states, there are First Home Owner Grants for the construction of new homes already in place. In NSW, it is up to $10,000, in Victoria, the grant is up to $20,000 (depending on the location) and in Queensland, it is $15,000. So, with all of these schemes and incentives bundled together, it’s fair to say now is the best time to be a first-time buyer in a very long time! In some cities, like Sydney and Melbourne, that won’t buy you much real estate anywhere close to the city, but in others, such as Brisbane, it will. However, in the outer-ring and regional areas where property prices are more affordable the numbers change and with it so do the opportunities. With the maximum price point for the HomeBuilder program set at $750,000, I believe it will be the more affordable areas that will benefit the most. Details at:x Home Building Grant to Benefit Affordable Areas an... The new Federal Government www.urban.com.au
0 Reply 47 Views 1Mo ago
Sam2019

Sam2019

Grant
The government has unveiled the HomeBuilder scheme, which will see eligible owner-occupiers who are either building or undertaking a substantial renovation given $25,000 for doing so. In an information package revealed overnight, the Treasury said HomeBuilder is a time-limited grant program designed to help Australia’s residential construction market bounce back from the coronavirus crisis. HomeBuilder will provide eligible owner-occupiers, inclusive of first home buyers, a grant of $25,000 to build a new home or substantially renovate an existing home where the contract is signed between 4 June 2020 and 31 December 2020. Construction works on the home must commence within three months of the contract being signed. “The ‘boost’ to the first home owner grant, which was a temporary, additional [$7,000]-14,000 grant in the wake of the global financial crisis, showed a similar outcome,” Ms Owen said. Similarly for home owners, and first home buyers in particular, those looking to commit to a property purchase within the next six months would already have been saving a deposit and are primed to buy. However, where this policy may create additional construction lies in the fact that it is pivoting decision-making from established property to new housing, likely to be skewed towards house and land projects. This is opposed to the first home owner boost (FHOB) in 2008. “Even though the grant provided additional incentive for newly built property, 85 per cent of those temporary grants were awarded for established purchases,” Ms Owen said. Source: x Why Morrison’s stimulus won’t have a long-term... The Morrison’s stimulus package could create a vacuum effect where a huge demand in buyer activity is brought forward before a significant drop thereafter, new research has indicated. www.smartpropertyinvestment.com.au
0 Reply 36 Views 1Mo ago
Ranjit

Ranjit

Brisbane City
Millions exchanged hands this week as agents, buyers and sellers raced to beat the COVID-19 crackdown on inroom property auctions, while others embraced the start of livestreaming sales. Prime Minister Scott Morrison announced on Tuesday that all inroom auctions and group open homes would cease from midnight Wednesday, leading the industry to take the events fully digital, with bidding done online or over the phone. This week was on course to be the biggest of the year for auctions, with Brisbane volumes up 52.2 per cent, compared with the same time last year, with 172 homes listed to go under the hammer, according to the CoreLogic Auction Market Preview. “After the weekend, we should have a better idea on how this is going to impact the auction market going forward,” a CoreLogic spokesperson said. Among the virtual sales last night (Thursday) were 10 conducted through Ray White Queensland chief auctioneer Mitch Peereboom on the Gold Coast. “These are online private auctions. Buyers register to bid, they are able to watch the auction live and bid via our platform. We are really excited about this creative solution because we know buyers want to buy and sellers want to sell. The property market is performing strongly and we welcome this new opportunity to deliver our clients the same outcomes (they would have achieved).” Stuart McCrea of Place Estate Agency in Coorparoo said the industry could work around the safety measures introduced to protect buyers and sellers from coronavirus. “The use of video walk-throughs, all these things, allow people to bid with confidence. When your dream home comes up you shouldn’t be worried about coronavirus.” Read more:x Coronavirus: Millions in home sales as virtual rea... Millions were exchanged in a bidding frenzy as agents, buyers and sellers raced to beat the COVID-19 crackdown on inroom auctions, while others embraced the start of livestreaming sales. www.realestate.com.au
0 Reply 98 Views 4Mo ago
Ronie

Ronie

Brisbane City
The way Australians buy and sell their homes changed overnight, with group onsite auctions and open homes now banned by the Prime Minister as part of measures to flatten the COVID19 curve. Here’s what’s going to happen now. Fresh off the back of government calls for social distancing to become the norm nationwide, real estate industry peak bodies had braced for bans on group activities within the market, with major agencies also lobbying for the property sector to be allowed to operate under the new restrictions as an “essential service”. Prime Minister Scott Morrison last night named inroom and onsite auctions and open for inspections among the list of activities that would be banned from midnight tonight as part of measures to control the spread of COVID19. First to respond last night was one of the country’s biggest agencies, the Ray White Group which sells one in eight houses in Australia and New Zealand. Ray White Group managing director Dan White said in a statement that “it appears the scope of new business operating practices the group proposed earlier (Tuesday) to support the flattening of the COVID-19 infection curve has been endorsed as appropriate”. ‘No other restrictions were announced for either property management or sales businesses, subject to other restrictions on physical distancing and hygiene,” he said. “The key message to take away is that all real estate onsite and in room auctions and open house inspections will be cancelled as of Wednesday night, but our members will still be able to host virtual property tours, private inspections and online/digital auctions, as we have been encouraging.” He said the industry would take heart from the PM’s statement that ‘all workers in the economy are essential’. “We will carefully adhere to the latest restrictions,” Mr White said, which would provide “some challenges”, but were “necessary to face the current crisis” He said many Australians relied on agents “to support them in renting, buying, selling and managing their homes. We are well prepared to do this”. The PM’s announcement follows an early Tuesday call by the Real Estate Institute of Australia for significant changes to be made to the way all agencies conducted their business. “Past practice with open homes and public auctions needs to cease,” REIA President Adrian Kelly warned earlier in the day. Details:x Sweeping changes for real estate - realestate.com.... The way Australians buy and sell their homes changed overnight, with group onsite auctions and open homes now banned by the Prime Minister as part of measures to flatten the COVID19 curve. Here’s wh... www.realestate.com.au
0 Reply 102 Views 4Mo ago
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