Categories for Finance

Are Property Prices on the move in the next few years?

10/10/2016
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Things could be looking up for homebuyers, with a new report forecasting a drop in property prices over the next three years. But could this also signal the end of the Australian property market golden era?According to BIS Shrapnel’s Residential Property Prospects 2016-2019 report, median house and unit prices in our capital cities will be lower by 2019. This is due to a perfect storm of slower population growth, falling immigration levels and an oversupply of new homes.The Australian Prudential...

The “Next Step” A transition to paperless conveyancing

16/9/2016
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AICWA recently advised members of the decision by The Registrar of Titles Ms Jean Villani to introduce a change of lodgement processes by August 1st 2017.On August 1st this year, Landgate introduced changes to lodgement process affecting mortgagees, specifically, for the electronic lodgement of mortgages and discharges of mortgages (via PEXA).It is now envisaged that the next step towards paperless conveyancing is for the scope of eligible document types to be broadened so as to include: Transfers Caveats and withdrawals...

Listed, Sold or buying a property market value of $2 mil. or over?-ATO clearance certificate is required!

26/7/2016
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Contracts dated 1 July 16 on wards, will have the new requirements on ALL transactions with market value of $2 million or over.  Unless the Seller provides an Australian Taxation Office (ATO) ‘clearance certificate’ for each registered proprietors name (matched to the title) to the buyer 2 business days prior to settlement (-timing subject to REIWA special condition).Then the Buyer must withhold 10% of the Purchase price (more specifically the ‘First element of the cost base’-Capital Gains Tax defined term)...

Five Points to consider when interests rates are low…

10/1/2016
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Favourable interest rates are a borrower’s best friend, but should you lock in a low rate or go with a variable rate? Here are five things to consider. 1. How low can rates go?Interest rates are at historically low levels and the current outlook suggests there may be further cuts in the medium-term future. If you lock in your rate now, you won’t reap the benefits of later decreases. The question is: how low do you think the rate will...