The State Government have decided that first home owners need more help to get into the market place. By reducing stamp duty payable on their purchasers from 50% to nil on purchasers at or below $600,000 and a reduced stamp duty on properties up to $750,000, the new savings on a $600,000 home for first […]
The vast majority of foreign nationals buying investment properties are buying apartments off the plan. These are the properties that are overpriced by usually 20%+ and are very difficult to lease out. They are quite often inner city or on the fringe in Docklands and Southbank. Foreigners hold them for 3-5 years and then they […]
As the weather is getting colder and we move into a new financial year, the market remains quite robust. Rolling over into July 1, we will see whether it has been the first home buyers about to lose their first home owners grants (FHOG) who have been holding up the market, or, as I believe, […]
It has been announced by the State Government that the $7000 First Home Owners Grant (FHOG) will change on 1st July 2013. The grant will be increased to $10,000 but the eligibility criteria also changes substantially. First home buyers are only eligible for this grant if they are purchasing a new home. Considering there are […]
If anyone in the market place believes that First Home Owners will again be a market force because of stamp duty savings the Victorian State Government is offering, they are seriously deluding themselves. Firstly, the stamp duty savings will count for anyone that has already purchased and settles after 1st July this year. Therefore there […]
