News Archive
08 July 2008
Insurers call for beachfront levy
HOMEOWNERS in low-lying coastal areas should pay a levy on top of their home and contents insurance to cover their land from rising sea levels caused by climate change, IAG says. And when the land eventually becomes too damaged from erosion they should be compensated and their land given to the government. The international general insurance group's submission to a Federal Government standi... read news item »
05 July 2008
Heritage houses
You might hear the names Colonial, Victorian and Federation used in reference to the styles of houses in Australia. But exactly what is it that makes a house fall into one of these categories? Domestic architecture has changed a great deal since settlement. There are obvious reasons for this such as population growth and living requirements but many of the homes being built today don’t ... read news item »
03 July 2008
How to Beat the Banks
Homeowners and investors should treat their home loans like their cars, checking them regularly to make sure they’re in top condition, according to MyRate.com.au managing director Kevin Sherman. Sherman says it’s important to set aside the time at least once a year to make sure your loans are the most competitive available. “A home loan can be the biggest financial investme... read news item »
03 July 2008
Pros and cons of buying property in super
Last year’s relaxation of legislation to allow self-managed superannuation funds to borrow to invest in property is “the biggest thing to happen since negative gearing”, Sydney buyers agency PK Property says. In a recent briefing note, PK Property outlines the tax advantages, structure and limitations of borrowing to buy property through a self-managed super fund (SMSF). It ... read news item »
03 July 2008
Bonds leave investors exposed
Investors might believe the bonds their renters pay at the start of a tenancy protect them from financial pain if the property is damaged or tenants abscond – but they’re wrong, according to Carolyn Majda from Terri Scheer Insurance Brokers. Residential tenancy bonds offer inadequate risk management for landlords, Majda says, as in more than half of all cases of property damage or... read news item »
03 July 2008
Home prices to explode, ANZ Bank predicts
THE ANZ Bank says the growing housing shortage is setting Australia up for the "mother of all" housing booms. New home building figures showing slumping building approvals have sparked fears of a price and rent explosion that will price even more prospective buyers out of the market. The ANZ's senior economist, Paul Braddick, said yesterday Australia faced a critical and po... read news item »
30 June 2008
House prices hold up against rate rises
PROPERTY prices have defied expectations and proved resilient in the first few months of the year, according to research released by RP Data and Rismark International. While the share market has fallen around 11 per cent since the beginning of the year, property values have held steady on a national basis – although there have been fluctuations between cities. RP Data national researc... read news item »
30 June 2008
A million houses needed to avoid shortfall
A MILLION new homes need to be built over the next five years to cope with Australia’s booming population, new figures out from the Housing Association show. The number of houses currently being built falls well short of this, and according to the HIA, there'll be a shortfall of at least 175,000 houses if current building rates continue. The outlook is even bleaker if household sizes kee... read news item »
30 June 2008
Identifying a 'lemon'
Timber rot, faulty stumps, roofing issues and illegal building are among problems costing new home buyers thousands. Archicentre's pre-purchase home inspection figures show at least one in three homes sold have a range of problems that could add thousands of dollars to the cost of a property, especially if the faults discovered involved s... read news item »
19 June 2008
Greed is at the root of the housing crisis
By the 1990s, successive Australian governments lost sight of the fact that their primary objective in housing policy was to meet the shelter needs of the community. This reflected the changing aspirations of the middle-class, who saw investment in housing as a safe store of value and property as a more tangible form of investment than shares. It wasn't long before the politicians saw that one ... read news item »