Viewing by month: July 2011
NSW Government releases land in North West and South West Growth Centres
The New South Wales Premier Barry O’Farrell and Minister for Planning and Infrastructure Brad Hazzard recently announced that the NSW Government was moving to overturn the current housing shortage by accelerating the release of land in the North West and South West Growth Centres of NSW. According to Barry O’Farrell the unlocked land will provide enough area on which to build 13,000 new homes. The North West site, Marsden Park, has the potential for approximately 10,000...Read complete post
Ensure a smooth home loan process
I think we can safely assume that the home loan process is not one that many people go through all that often. It can therefore sometimes present as somewhat confusing. As mortgages are an intrinsic part of buying property, and as a real estate company with a mortgage broking arm (CENTURY 21 Home Loans), my colleagues and I at CENTURY 21 Australia see a large number of people taking out housing finance and try to support our clients wherever possible. To this end, a...Read complete post
Declining home values present opportunities to buyers
Conditions in the residential property market seem to be looking somewhat brighter for would-be buyers at present. In addition to the Reserve Bank of Australia electing to keep interest rates on hold at 4.75 per cent for at least another month rather than moving to increase them, the latest RP Data-Rismark Home Value Index showed a decline in property prices over May. Combined, these factors could help to provide Australian property buyers with increasingly affordable purchase...Read complete post
Essential home fire safety tips for winter
The recent spate of house fires across Australia, some of which have been devastatingly fatal, has highlighted the increased fire risk that we face in winter. According to Fire and Rescue NSW, statistics show that 43 per cent of all fire fatalities occur in winter. Not surprisingly it is in the colder parts of the year that our use of heaters, clothing dryers and other electrical appliances tends to rise as we attempt to combat the cold. It is therefore of the utmost...Read complete post
Improve your property’s leasing potential by catering to prospective tenants
When purchasing a property for investment purposes, as opposed to living in it yourself, it is important to ensure that it is attractive to good quality potential tenants so as to maintain constant tenancy. The property doesn’t necessarily have to have features that you like personally, rather ones that tenants deem to be necessary and attractive. Such essential elements are dependent on both the area in which the property is located as well as the types of tenants you are...Read complete post
Break continues for borrowers as rates kept on hold for July
It was good news for mortgage holders and home buyers last week as the Reserve Bank of Australia elected to keep interest rates on hold at 4.75 per cent for the seventh consecutive meeting – the longest period over which rates have been kept steady in four years. The decision saw the Reserve Bank renege slightly on the growth expectations for the Australian economy that it has purported in previous months, with Governor Glenn Stevens noting in his post-announcement statement that “gr...Read complete post
The Australian dream downsizing
The Australian residential property scene has been experiencing somewhat of a dilemma for a little while now – while property ownership continues to rate highly as one of the great Australian pursuits, housing supply and affordability constraints have been dampening that dream for many Australians and certainly making it more difficult to achieve. However, according to the findings of a recent study of Australian values by Ipsos Mackay entitled ‘Being Australian’, it appears that...Read complete post
Make sure you get the best power deal
In last week’s blog we considered the best cost cutting initiatives to save money on your heating bill in winter. And while there are definitely some excellent methods of staying warm without having to have the heater on constantly, the fact remains that power prices are continuing to increase, which could definitely have an impact on your household budget no matter what measures you take to cut back on using power. Thus, while substantial savings can be made by implementing...Read complete post