Archive for the ‘Buying’ Category

Why you should use a Mortgage Broker

I read a stat the other day that quoted 60 per cent of all home and investment loans are completed by mortgage brokers. I assume the remaining 40 per cent of people go to their bank directly. The community’s preference to use a broker to assist them in choosing the right bank and loan to meet their needs seems clear.

The Hayne Royal Commission into … Read the full post »

Current relief for Tenants

What Exactly Does the ‘Moratorium on Evictions’ Mean?

The messages from the media and Government around the ‘moratorium on evictions’ were patchy and sometimes confusing, leading some to think that it meant ‘free rent’.

The Premier, Mark McGowan addressed that idea by stating “tenants must continue to pay rent. If a tenant can’t pay their rent they will still have to pay … Read the full post »

Western Australian State and Federal Building Grants

Prime Minister Scott Morrison announced last weekend a new grant program designed to support the residential construction sector. Coined “HomeBuilder”, obviously brought to you by the same imaginative namers of JobKeeper and JobSeeker, the program is designed to encourage home owner-occupiers to undertake a new home build or substantial renovations by gifting them $25,000.

There’s a few rules to follow to get the $25k, but … Read the full post »

Making an offer “Subject to Sale”

Buyers are, of course, often sellers too. Most people who decide to sell their home also look for an alternate property at the same time and may find something appealing before they have secured a buyer for their own.

Buying a property “subject to the sale of another property” is common and REIWA agents are … Read the full post »

If Icarus was an Agent

The Greek story of Icarus, like all good myths, provides insight into the best and worst of the human condition. The story is well known; Icarus, in fleeing Crete with his father who fashions wings from feathers and wax, is warned not to fly too close to the sun. Icarus, overcome with the joy of flight, falls victim to his own hubris, arrogance and dangerous over-confidence, soars too … Read the full post »

It Takes a Pandemic

In times of crisis, political leaders can both surprise and impress (Morrison, McGowan) or shock and horrify (Trump, Bolsonaro). The latest impressive surprise from the McGowan government is to announce sweeping changes to planning rules affecting both minor domestic houses and large-scale commercial developments.

Whilst not law yet, despite the government’s best efforts to ram through the legislation in parliament within an hour of the … Read the full post »

Investors to Return

According to Core Logic’s latest monthly data, investors comprise only 17 percent of mortgage demand across WA, the lowest level of any state or territory. By comparison, in NSW, 32 percent of all mortgages are investor loans.

But as the bullish markets of the east coast begin their retreat due to COVID-19’s economic impacts, Perth could easily become the next obvious target for property investors. … Read the full post »

Will Australia’s Property Market Crash?

House prices will definitely crash…unless they don’t. COVID-19’s health and economic ramifications has impacted all property markets albeit in different ways in different jurisdictions. The initial shock of the lockdown measures and banning of home opens, impacted immediately with thousands of east-coast auctions cancelled and sales activity dropping to about half recently averaged levels.

The big auction cities of Melbourne and Sydney scheduled 590 auctions … Read the full post »

Clarity for Renters

Some east-coast loonies have been whipping up a social media storm demanding a “rent strike” be allowed during the COVID-19 pandemic. They’re calling for free rent for as long as the pandemic lingers, hopeful that the property owner will be granted the same leniency by their bank through providing them a re-payment free holiday on their mortgage.

If you ask nicely, the banks may pause … Read the full post »

COVID-19 and the Property Market

What a difference a week makes. In last week’s column I
said, “should we really be putting our lives on hold in such dramatic fashion.”
Well, it seems we ought to be and we have – more or less.

The Prime Minister has banned public auctions and home opens
in order to minimise group gatherings. Real Estate agents … Read the full post »

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