While a mid-50% clearance rate doesn’t suggest housing prices are set to bounce back, it does imply a closer fit between buyer and seller expectations and the improved auction success rate supports the reduced rate of decline in housing values across Sydney and Melbourne. Watch “Brisbane Housing Market Update | May 2019” on Vimeo:

The rate of property price decline continues to ease-Overall we are seeing further evidence that the worst of the housing market conditions might now be behind us. Hear all the national and state based insights here.

In this month’s housing marketing update, CoreLogic share that Australian dwelling values fell half a percent last month as the pace of home value declines continued to ease after moving through a recent low point in December last year when national dwelling values were falling at a much faster rate.  The latest figures take national housing values 7.2% lower over the past twelve months to be down 7.9% since peaking in September 2017.

The slowing of the rate of decline is attributable to an easing in the market downturn across Sydney and Melbourne where an improving trend in the rate of decline has been evident over the past three months.  In December last year, Sydney dwelling values were down -1.8%, with the pace of falls progressively moderating back to a month on month decline of 0.7% in April.  Similarly, Melbourne values were down -1.5% in December, with the rate of decline slowing to -0.6% in April.

Although the national rate of decline has improved, the geographical scope of falling values has broadened.  In April, dwelling values fell across every capital city apart from Canberra, while regional areas of Tasmania, Victoria and South Australia also avoided a fall.  The broad-based nature of weak housing market conditions highlights that tighter credit conditions are having a dampening effect across all markets.

Annually, national dwelling values were down -7.2%; the largest decline since the twelve months ending February 2009, which was associated with the Global Financial Crisis.

Overall we are seeing further evidence that the worst of the housing market conditions might now be behind us.  Values are still broadly declining, however the pace of decline has moderated since December last year and there are some tentative signs that credit flows have improved, albeit from a low base.

Considering that tighter credit conditions were one of the primary catalysts for the housing market downturn, any sign that credit availability is improving would be a welcome outcome for the housing market.

According to the Australian Bureau of Statistics, lending to households for dwellings, excluding refinancing was up 2.7% on a seasonally adjusted basis in February.  Additionally, a rise in CoreLogic valuation platform activity throughout March hints at a further improvement in housing finance, which will likely be reported in the next ABS release.

Another indicator of a subtle improvement in the housing market can be seen in auction clearance rates that are holding around the mid-to-low 50% range, albeit on low volumes relative to a year ago. The correlation between auction results and housing market conditions is strongest in Melbourne and Sydney where auctions comprise a larger proportion of selling activity.

While a mid-50% clearance rate doesn’t suggest housing prices are set to bounce back, it does imply a closer fit between buyer and seller expectations and the improved auction success rate supports the reduced rate of decline in housing values across Sydney and Melbourne.

Watch “Brisbane Housing Market Update | May 2019” on Vimeo: https://vimeo.com/335683099?ref=em-share

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Quarterly rents have increased across all capital cities, bar Sydney and Darwin.

At a glance:

  • CoreLogic has released its first Quarterly Rental Review for 2019, showing rents have risen by 1 per cent during the first three months of this year.
  • Sydney is the most expensive capital city to rent with a median weekly rent of $582 per week, while Perth is the cheapest at $385.
  • Quarterly rents have increased across all capital cities, bar Darwin and Sydney.

The first CoreLogic Quarterly Rental Review for 2019, which tracks median rents and rental yields across Australia, shows that national weekly rents have risen by 1 per cent during the first three months of the year.

“This seasonally strong first quarter has delivered the highest increase in weekly rents since the corresponding first quarter a year ago”, says Cameron Kusher, Research Analyst for CoreLogic. “Our regional housing markets are performing marginally better than the capital cities, many of which have been experiencing weaker rental market conditions in recent years due to excess housing supply and growing investor activity.”

“Quarterly rents have increased across all capital cities, bar Sydney and Darwin. Hobart is experiencing notable growth, with rents increasing by 3.6 per cent over the past quarter. However, with a median rent of $582 per week, Sydney remains Australia’s most expensive city for tenants by far.”

The Quarterly Rental Review also highlights a national increase in yields over the past three and 12 months. Gross rental yields for the first quarter are 4.10 per cent compared to 3.95 per cent in the previous quarter and 3.77 per cent a year ago. Darwin has the highest rental yield across the country with an annual median of 6 per cent.

Key findings – rents and yields

  • Nationally, rents increased by +1 per cent over the March quarter and by 0.4 per cent over the past 12 months. Combined capital city rents were 0.9 per cent higher than the December 2018 quarter but -0.1 per cent lower than the previous March quarter. This is the lowest annual change since CoreLogic started tracking rents in 2005. Regional rents were slightly stronger, with a 1.1 per cent increase over the quarter and a 1.8 per cent increase over the past year.
  • In the first quarter, rents climbed in all capital cities except for Darwin (-0.3 per cent). Hobart was by far the strongest performer, with a 3.6 per cent increase in rent over the past quarter, followed by Perth (+1.8 per cent) and Canberra (+1.5 per cent). Hobart also experienced the highest increase in rent over the past 12 months (+5.4 per cent) while at the other end of the scale the media rent in Darwin fell by -5.7 per cent.
  • Nationally, the median rent is $436 per week. The median rent across the capital cities is $465 per week, and $378 per week across the regionals.
  • Gross rental yields have increased from 3.8 per cent to 4.1 per cent nationally. Across the combined capitals, the average rental yield is 3.8 per cent (up from 3.5 per cent). Regional yields are far higher at 5.1 per cent, up from 4.9 per cent 12 months ago.

img_1498

 

Key findings – capital cities

  • Sydney remains Australia’s most expensive capital city market, with a median weekly rent of $582, despite a decline of -3.1 per cent over the past 12 months. While rents in Sydney remained the same as the previous month, they increased by 0.5 per cent over the past quarter. Sydney also has the lowest rental yields out of all capital cities, at 3.5 per cent over the past quarter.
  • Canberra reports a median rental cost of $550 per week, an increase of 1.5 per cent over the past quarter and 3.6 per cent over the past 12 months. Canberra is one of only two capital cities (alongside Darwin) to experience a drop in weekly rent over the past month (-0.1 per cent).
  • In Melbourne, rents are $454 a week – an increase of 1 per cent over the quarter and 2.1 per cent over the past 12 months. Melbourne also reported the greatest increase in rental yields out of all capital cities, with current rental yields being 3.6 per cent, compared to 3.1 per cent a year ago. Despite the rise in yields, Melbourne has the second lowest weekly rental yield out of all capital cities (after Sydney).
  • Brisbane rents are starting to climb again, with Brisbane now having a median weekly rent of $436.This is an increase of 0.8 per cent over the past quarter, and 1.4 per cent over the past 12 months.
  • Perth is the most affordable capital city to rent in with a median weekly rent of $385. However, it is showing signs of growth, achieving the second highest quarterly rate (after Hobart) with an increase of 1.8 per cent over the past 3 months. Over the past year, Perth rents have increased by 2.1 per cent.
  • Adelaide closely follows Perth to become the second most affordable capital city to rent a property in, with a median weekly rent of $386. Like Brisbane, it experienced a 0.8 per cent rise in rents over the March quarter. Over the past 12 months, rents in Adelaide have risen by 1.2 per cent. Gross rental yields have remained static over the year at 4.4 per cent.
  • Hobart reported the strongest growth in rents, up 3.6 per cent over the past quarter to $453 per week. Over the past year, rents have increased by 5.4 per cent. Hobart also reports the strongest growth over the past month, with a 1.6 per cent increase in weekly rent. Hobart also reported the second highest rental yield (after Darwin) of 5.1 per cent, which remained the same as 12 months ago.
  • Darwin has experienced the most significant decline in rent to achieve a median weekly rent of $458. This is down -0.3 per cent over the quarter and -5.7 per cent over the past year. In addition, Darwin also reports a drop of 0.2 per cent over the past month. However, at 6 per cent, Darwin has the highest gross rental yield out of all the capital cities (up 0.1 per cent on the past 12 months).

CoreLogic Research Analyst Cameron Kusher said the first quarter of 2019 had delivered the highest increase in weekly rents since the corresponding first quarter a year ago

“Our regional housing markets are performing marginally better than the capital cities, many of which have been experiencing weaker rental market conditions in recent years due to excess housing supply and growing investor activity,” he said.

“Quarterly rents have increased across all capital cities, bar Sydney and Darwin.

“However, with a median rent of $582 per week, Sydney remains Australia’s most expensive city for tenants by far.”

The Quarterly Rental Review also highlights a national increase in yields over the past three and 12 months.

Gross rental yields for the first quarter are 4.10 per cent compared to 3.95 per cent in the previous quarter and 3.77 per cent a year ago. Darwin has the highest rental yield across the country with an annual median of 6 per cent.

According to the ABS, total household assets were recorded at a value of $12.6 trillion at the end of 2018. Total household assets have fallen in value over both the September and December 2018 quarters taking household wealth -1.6% lower relative to June 2018. While the value of household assets have fallen by -1.6% over the past two quarters, liabilities have increased by 1.5% over the same period to reach $2.4 trillion. As a result of falling assets and rising liabilities, household net worth was recorded at $10.2 trillion, the lowest it has been since September 2017.

CK_001.png

 

Based on this data from the ABS, the Reserve Bank (RBA) calculates a number of household finance ratios.

The first metric detailed from the RBA are the ratios of household and housing debt to disposable income. As at December 2018, household debt was 189.6% of disposable income, a record high and up from 188.7% the previous quarter. Housing debt was also a record high 140.2% of disposable income and had risen from 139.5% the previous quarter.

CK_002.png

 

While debt levels are quite high, the ratios of asset value to disposable income are much higher. While that may be the case, it is important to understand that if asset values fall, the value of the debt typically doesn’t reduce at the same speed, which can lead to asset value erosion. As at December 2018, household assets were 927.9% of disposable incomes. This ratio has declined as property values have fallen, down from a peak of 962.1% in December 2017. Similarly the ratio of housing assets to disposable income is currently 495.3%, down from its peak of 529.7% in December 2017. The 495.3% figure is the lowest it has been since September 2016.

CK_003.png

 

As a result of a reduction in the ratio of assets to disposable income, the ratio of debt to assets is climbing. Total household debt is now 20.4% of household assets, the highest it has been since March 2016. Total housing debt is 28.3% of total housing assets, the highest it has been since September 2014. Again, this reflects the fact that asset values are falling as debt increases.

Despite generational low official interest rates, the measures of interest payments to disposable income have risen over recent quarters. This is likely reflective of lenders lifting interest rates independently of any adjustment to the cash rate by the RBA. Household interest payments represented 9.1% of household disposable income in December 2018, their highest share since September 2013. Housing interest payments accounted for 7.6% of household disposable income in December 2018, their highest share since March 2013. Despite the cash rate tracking at generational lows, households are paying a proportionally higher share of interest than they have in many years.

CK_004.png

 

With housing values falling and expected to keep falling, the ratio of assets to disposable incomes is likely to fall over the coming quarters. Although most households will likely remain in a position whereby the value of their assets is significantly higher than their debt, no doubt an increasing number of recent property purchasers will have higher levels of debt than the value of their asset. This is probably an area of most concern for the RBA. If this leads to reduced consumer expenditure an in-turn slower economic growth it may be a trigger for either lower official interest rates or changes to mortgage lending policies (or both). Furthermore, with household debt at record highs and households dedicating more of their income to servicing their debt at a time when interest rates are so low if household debt levels haven’t declined by the time interest rates rise it could create more challenges for households.

This data will be very important to focus on over the coming quarters.

Linda and Carlos Proudly present 12 Page Street, North Lakes.  4 bedroom 2 bathroom 2LU.  #property #management since #brand #new #1999 Near New Curtains and Carpets #Freshwater Stage #School #Catchment #Westfield #Costco #Bunnings #parks #local #amenities $370 per week #available 18th April Call 07 3263 6085 to Inspect.  Located in the Freshwater Estate of North Lakes and easy walk to Lake Eden and Westfield’s shopping centre in the heart of North Lakes this Cozy 4 bedroom property features:

 

  • Open Planed kitchen/ dining and family area with ceiling fans and access to the backyard.
  • 4 Carpeted bedrooms with built-ins and ceiling fans.
  • Master bedroom has a Walk in robe and Ensuite.
  • Main bathroom with separate bath and Toilet.
  • Double lock up Garage with internal laundry.

***** NEAR NEW CARPET AND CURTAINS*****

 

http://ljgrealestate.com.au/rental/12-page-street-north-lakes-qld-4509/

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Best Regards

 

Linda 姬琳达珍 and Carlos Debello (LREA)

琳达姬琳达珍Debello LREA – LJ Gilland Real Estate Pty Ltd

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htw-month-in-review-april-2019 residential-1 by @GillandDebello #family #finance https://t.co/WrgwhmpfJt via @SlideShare

UNDER CONTRACT IN JUST ONE WEEK!

 

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Pets vs No Pets at your rental property

Tips for landlords renting to pet owners

Pet-friendly properties will appeal to more tenants and can achieve higher rents, but there’s more to consider than just the rental return.

  • Choose the right property and features – An apartment with a large outdoor area or a house with a big backyard will appeal more to pet owners. Durable flooring such as tiles is less likely to be damaged than polished floorboards or carpets.
  • Have a pet renting policy  Stipulate the number of pets allowed, acceptable animals or breeds, and any size limits.
  • Ask for a pet resume – Tenant are often happy to supply references from previous landlords or property managers. You may also wish to meet the pet beforehand.
  • Investigate strata bylaws – Some complexes may not allow animals, while others have rules about the type or size of pet and may require residents to register pets or ask for permission first.
  • Check your landlord insurance  Tenants are generally liable for damage caused by pets, apart from reasonable wear and tear, but it’s wise to check your insurance policy as well to find out exactly what is and isn’t covered.
  • Claim repairs at tax time  The cost of repairing reasonable wear and tear, such as refinishing floors and repainting walls, can be deducted from your rental income to minimise your tax bill.

Landlords who allow pets could boost their rental return by up to 30 per cent

Investors are always looking for ways to increase their rental return, but there’s one strategy that can boost rents by up to 30 per cent and it doesn’t involve renovating. 

In almost every capital city, median asking rents for pet-friendly apartments are higher than for homes that don’t allow pets, according to Domain Group data.That means landlords who allow pets could boost their rental return by simply checking a box.

Apartments advertised as pet-friendly are rarest in Melbourne, representing less than 3 per cent of all rentals, followed by Adelaide (6 per cent) and Sydney and Canberra (both 7 per cent).

Houses are more likely to be pet-friendly, but the proportion is still low in Melbourne (9 per cent) and Sydney (21 per cent). On the other hand, more than half of Greater Brisbane rental houses allow pets, while in Darwin, more than two-thirds are pet-friendly.

Sydney investors have the most to gain by allowing pets, according to the analysis of rental listings from the March 2019 quarter. Asking rents for apartments that allow pets are 11 per cent higher than those that don’t, which equates to $60 each week or $3120 per year.

With landlords in Sydney facing tougher competition as the rising supply of rental properties pushes down rents, allowing pets could provide investors with a point of difference and minimise the time a property remains on the rental market.

Sydney property manager and Property North Agency director Ben Benny said he always encouraged landlords to consider allowing pets to improve returns.

Related: How to prepare your home for a pet

“We definitely see an increase in rents when properties are pet-friendly,” he said. “Hands down it’s the biggest inquiry we get for any property.”

In Melbourne and Darwin, rents for pet-friendly units are 8 per cent higher, and in Adelaide and Brisbane there’s a 5 per cent difference in price.

Premium highest for rare rentals

In areas where pet-friendly rentals are least common, the premium is often higher. 

Less than 3 per cent of apartments in Sydney’s Canterbury-Bankstown area were advertised as pet friendly, but rents were 26 per cent higher, with landlords pocketing an extra $105 per week or $5460 per year. 

In the Liverpool and Fairfield areas, only one per cent of apartments are pet-friendly, and are advertised for 18 per cent more, costing tenants an extra $60 each week or $3120 per year.

It’s a similar situation in Melbourne’s inner city, where less than one per cent of units allow pets and rents are 30 per cent higher. That trend continues among apartments in the inner east, northern suburbs and bayside areas.

Although few rentals in Melbourne were advertised as pet-friendly, Lucas Real Estate senior property manager Emma Racky said this was relatively normal, and pets were often allowed on a case-by-case basis.

“People won’t be deterred from applying just because it doesn’t specifically say it’s pet-friendly,” she said. “It just depends on the owner’s preference. Some aren’t too fussed, but if it’s a new property, they’re worried about damage.” 

Restrictive landlords limit their tenant pool

In Brisbane, where pet-friendly rentals are much more common because tenants considered them part of the family.

In Brisbane, you reduce the pool of tenants if you say it’s not pet-friendly.

I love to give out a property which is pet-friendly because I know I’ll have a bigger pool of people coming through and the take-up is much faster.” In Sydney, the northern beaches has one of the highest concentrations of pet-friendly houses. More than one-third of rental houses are pet-friendly, and landlords who allow pets can expect rents to be 17 per cent higher.

Pet ownership is common among families renting houses there as trends were changing.

Over the past two or three years we’ve seen more of a shift towards younger couples, finding it more common for two-bedroom apartments.

Although property damage is a concern for many landlords, it was not the only issue. For strata buildings and apartments, the biggest concern is noise and upsetting other neighbors.

 

 

 

NO PETS

Allowing no pets at all will potentially reduce the pool of tenants who will want to rent your property.

On the upside though, having no pets obviously means there will be less wear and tear on the property in terms of damage to the property and potentially, odours in the property.

In our experience, around eight times out of ten the tenant will ask for a pet. It’s a common thing that happens throughout a tenancy.

PETS

At the start of a tenancy when being advertised, we always ask owners to consider listing a property as ‘pets upon application’ (this does not mean pets are a definite ‘yes’, it means that each application will be considered on its merits and each pet considered). Ultimately it is the owner’s decision on whether to allow pets.  The benefits of allowing pets is that it will open up your property to a much larger potential tenant pool, possibly decreasing vacancy time. The reality is the most pets and pet owners are not an issue, however, not all pets are created equal! Having a ‘pets on application’ approach coupled with a signed agreement from the tenant is a good step in providing the right to ‘veto’ any pets you do not consider appropriate and safeguarding your investment.

Over 85% of our properties are pet friendly, meaning we have more tenants looking at our properties and we have less vacancy.

According to Domain, owners who considered pets can also boost their rent returns by up to 30%!

In a nation where pets are family, great tenants with a pet can be worth their weight in gold. They tend to pay rent on time, look after the property really well and they stay for 2 to 3 years!

Everyone wins 🐶 🐱 🐦 🐰 🐟

https://www.domain.com.au/advice/landlords-who-allow-pets-could-boost-their-rental-return-by-up-to-30-per-cent-833532/

 

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Dwelling values rose by 1.1% over the month of December and by 4.0% over the quarter to finish out 2019 on a positive note according to the CoreLogic national home value index. This result represents the fastest rate of national dwelling value growth over any three month period since November 2009.  Darwin was the only region amongst the capital cities and ‘rest-of-state’ areas to record a fall in values over the month, with a -0.5% decline.

CoreLogic head of research Tim Lawless said, “Although the monthly capital gains trend remains fast-paced, the 1.1% rise in December was softer relative to the 1.7% gain in November and the 1.2% rise in October. This would suggest that the pace of capital gains may have been dampened by higher advertised stock levels or worsening affordability pressures through early summer.”  

On an annual basis, Australian dwelling values tracked 2.3% higher over the 2019 calendar year with five of the eight capital cities, and five of the seven ‘rest-of-state’ regions, seeing the year out in positive growth territory.  Amongst the capitals, Sydney and Melbourne recorded the highest annual capital gain, with both cities posting a 5.3% rise in dwelling values over the year. Regional Tasmania, where values were 6.1% higher over the year, led the regional markets.  Values were down in Darwin by 9.7%, 6.8% lower in Perth and 0.2% lower in Adelaide over the year, while values also fell across regional Western Australia (-11.8%) and Regional NSW (-1.1%).

Index results as at December 31, 2019

Tim Lawless said, “The positive year-end results mask what has been a year of two distinct halves -we saw capital city dwelling values fall by 3.8% over the first six months of 2019 and then rebound by 7.0% over the second half of the year.  

“The housing value rebound was spurred on by lower mortgage rates, a relaxation in borrower serviceability assessments, improved housing affordability and renewed certainty around property taxation policies post the federal election.  Lower advertised stock levels persisted providing additional upwards pressure on prices amidst rising buyer activity.”

Despite a strong rebound over the second half of 2019, property values across most regions of Australia are still below their previous record highs.  Nationally, the CoreLogic index recorded a peak in October 2017; dwelling values remained 3.1% below their record high at the end of 2019.  If the current quarterly rate of growth persists into 2020, the national housing market will record a nominal recovery in March as dwelling values push higher to new record highs.

Change In Dwelling Values

Tim Lawless said, “A nominal recovery in housing values implies home owners are becoming wealthier, which may also help to support household spending. However, the flipside is that housing affordability is set to deteriorate even further as dwelling values outpace growth in household incomes, signaling a set-back for those saving for a deposit.”  

The only regions where housing values are currently tracking at new record highs are Hobart, Canberra and regional Tasmania. 

Best Regards

Linda 姬琳达珍 and Carlos Debello (LREA)

LJ Gilland Real Estate Pty Ltd

Linda Debello LREA推荐书LJ Gilland房地产

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Subject: Re: We value your feedback

Felkiz Navidad Carlos and Linda. Below is our review! We are ok for you to use our names and publish it 🙂 Our experience with LJ Gilland has been absolutely amazing. Their knowledge, professionalism and guidance through the rental process is simply astonishing. They helped us in every aspect of the process of renting our first investment property and in moments it felt as if they were only focused in our property.

Carlos, Linda and their team do their best to answer every question and offer solutions to any blockers. They also take care of details as if they are owners of the property. Their advice has been invaluable and because of their relentless work we quickly found great tenants for our property.

We are extremely pleased with their work and we fully recommend them for your property management needs.

Thanks a lot Linda and Carlos! — Show quoted text — Michael #thankful #propertymanagers #propertymanagement #propertymanager #property #testimonial #landlord #review 🙏👍❤️💃 #ljgrealestate #ljgrealestatebrand

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Do Prospects Want to Deal With You? By Anthony Iannarino – The Sales Blog – December 3, 2019

Do Prospects Want to Deal With You?
By Anthony Iannarino – The Sales Blog – December 3, 2019

We tend to think of selling and marketing as something we simply do, as a profession, as a set of actions. We believe anyone motivated to learn to market or sell insurance can do so, and we put our faith in processes and methodologies to produce a repeatable result. But if you want your job to be a lot easier, you need to become someone from whom people want to buy. If you want to become someone with whom others want to conduct commerce, you’ll need to learn to recognize success is individual, and start by developing the traits your clients find attractive. Then learn how to be a consultative agent or marketer, and create more value than your competitors by becoming an expert in the outcomes you sell. Becoming a person that people want to buy from is difficult, but once you’ve done so, selling is a lot easier.

How to Become Someone People Want to Buy From

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Corelogic December 2019 Home Value Index: A Strong Finish For Housing Values In 2019 With The Corelogic National Index Rising 4.0% Over The December Quarter

Core logic home value index jan 2020 final by @GillandDebello #property #propertyinvestor https://www.slideshare.net/GillandDebello/core-logic-home-value-index-jan-2020-final via @SlideShare

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What’s changing in 2020? This is what you need to know about new laws from New Year’s Day.

First home buyers will receive a boost.(Unsplash: Tierra Mallorca)
The beginning of a new decade is bringing with it a host of changes.

New Year’s Day brings some good news for first home buyers, working parents and pensioners buying medications.

Here’s what else you need to know about what’s changing from today.

First Home Loan Buyers Scheme

The scheme will operate on a “first-in, best-dressed” basis.(ABC News: Rachel Riga)
The program provides a guarantee that will allow eligible first home buyers on low and middle incomes to purchase a property with a deposit of as little as 5 percent.

The Government scheme will support up to 10,000 loans each financial year, starting from 1 January 2020. It will operate on a “first-in, best-dressed” basis.

Under the scheme announced ahead of the 2019 election, the Government will offer loan guarantees for Sydney properties worth up to $700,000, and $450,000 across the rest of New South Wales.

In Melbourne, eligible buyers will be able to access the scheme when purchasing a home worth up to $600,000, and $375,000 across other parts of the state.

Applicants will be subject to eligibility criteria, including having taxable incomes up to $125,000 per annum for singles and up to $200,000 per annum for couples.

NAB has already committed to being ready to offer guarantees from that date.

Extending access to parental leave pay

The work test will be amended to allow more women to qualify.(Pexels)
Parents in Australia have been entitled to government-mandated leave after childbirth or adoption since January 1, 2011.

Under the Paid Parental Leave Act 2010, eligible new parents can take up to 18 weeks’ leave, funded by the Federal Government and paid at the rate of the national minimum wage.

Since 2013, fathers or partners have been entitled to “Dad and Partner Pay”, or DPP, a separate, non-transferable payment.

But as of today, the work test will be amended to allow more women to qualify.

Currently, to qualify for PPL, a parent must have worked a minimum of 330 hours in 10 of the 13 months prior to the birth, with no more than an eight-week break between two working days.

The Government will now extend the break between working days from eight to 12 weeks and allow women to move their work test period if they have had to stop work early due to a workplace hazard.

This will apply to parents of children born or adopted on or after January 1.

PBS changes

More people should be able to access discounts on the PBS scheme.(Pixabay)
Federal Minister for Health Greg Hunt said the Government has promised to reduce the Pharmaceutical Benefits Scheme (PBS) safety net by January 1, 2020, so Australians will receive cheaper or free scripts earlier.

According to a statement from Mr Hunt, the threshold to receive free or further discounted medicines through the PBS will be lowered by 12 scripts for pensioners and concession cardholders and the equivalent of two scripts for non-concession cardholders.

Electricity prices are going up

Victorian customers will have to prepare for higher electricity prices.(ABC)
In Victoria, the Australian Energy Regulator estimates the typical network tariff charge — which is only one part of a household bill alongside wholesale costs, retail margins, and other elements — will increase the average bill for residents by:

AusNet Services: $38.16
CitiPower: $26.14
Jemena: $37.26
Powercor: $46.00
United Energy: $53.04
The approved network tariffs take effect from 1 January 2020.

Price changes for NSW, Queensland, South Australia, Northern Territory, ACT and Tasmania for the 2019-2020 year were changed on July 1, 2019.

Opt-out of super guarantee

There might be some good news for workers unintentionally going over the concessional contributions cap.(Pexels.Com: Startup Stock Photos)
From 1 January 2020, some workers with multiple employers can apply to opt-out of receiving the super guarantee (SG) from some of their employers.

This is particularly of interest to high-income earners who may be unintentionally going over the concessional contributions cap.

According to the Australia Taxation Office, you may be eligible to opt-out if you:

have more than one employer, and
expect your employers’ mandated concessional super contributions to exceed your concessional contributions cap for a financial year
The exemption certificate means the employer will not be liable for the super guarantee charge if they don’t make SG contributions on your behalf for the quarters covered by the certificate.

The end of Sydney’s lockout laws

Last drinks will be extended by 30 minutes at venues with “good records”.(ABC News: Jean Kennedy)
The NSW Government announced in November 2019 that its controversial lockout laws would be lifted in Sydney’s CBD and Oxford Street from January 14.

However, the laws will remain in place in Kings Cross.

The changes include removing 1:30am as the last entry for all licensed venues in the Sydney CBD, including Oxford Street, and extending last drinks by 30 minutes at venues with “good records”.

Other restrictions will also be lifted, including:

Removing restrictions on serving cocktails, shots and drinks in glass after midnight
Extending bottle shop opening hours across NSW until midnight from Monday to Saturday, with an 11:00pm closing time on Sunday
Increasing small bar patron capacity from 100 to 120 across NSW
ACT will be lighting up
Each household will be allowed a maximum of four plants. (Unsplash: Matthew Brodeur)
The ACT has become the first Australian jurisdiction to legalize the possession, use, and cultivation of small amounts of cannabis.

The new laws will allow possession of up to 50 grams per person and a maximum of four plants per household and will come into effect from January 31, 2020.

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The Reserve Bank of Australia (RBA) has left the official interest rate at 0.75 per cent in its final interest rate decision of the year, after a blockbuster month for property and a looming Christmas spending period

The Reserve Bank of Australia (RBA) has left the official interest rate at 0.75 per cent in its final interest rate decision of the year, after a blockbuster month for property and a looming Christmas spending period. RBA governor Philip Lowe’s official statement on monetary policy

At its meeting today, the Board decided to leave the cash rate unchanged at 0.75 per cent.

The outlook for the global economy remains reasonable. While the risks are still tilted to the downside, some of these risks have lessened recently. The US–China trade and technology disputes continue to affect international trade flows and investment as businesses scale back spending plans because of the uncertainty. At the same time, in most advanced economies unemployment rates are low and wages growth has picked up, although inflation remains low. In China, the authorities have taken steps to support the economy while continuing to address risks in the financial system.

Interest rates are very low around the world and a number of central banks have eased monetary policy over recent months in response to the downside risks and subdued inflation. Expectations of further monetary easing have generally been scaled back. Financial market sentiment has continued to improve and long-term government bond yields are around record lows in many countries, including Australia. Borrowing rates for both businesses and households are at historically low levels. The Australian dollar is at the lower end of its range over recent times.

After a soft patch in the second half of last year, the Australian economy appears to have reached a gentle turning point. The central scenario is for growth to pick up gradually to around 3 per cent in 2021. The low level of interest rates, recent tax cuts, ongoing spending on infrastructure, the upswing in housing prices and a brighter outlook for the resources sector should all support growth. The main domestic uncertainty continues to be the outlook for consumption, with the sustained period of only modest increases in household disposable income continuing to weigh on consumer spending. Other sources of uncertainty include the effects of the drought and the evolution of the housing construction cycle.

The unemployment rate has been steady at around 5¼ per cent over recent months. It is expected to remain around this level for some time, before gradually declining to a little below 5 per cent in 2021. Wages growth is subdued and is expected to remain at around its current rate for some time yet. A further gradual lift in wages growth would be a welcome development and is needed for inflation to be sustainably within the 2–3 per cent target range. Taken together, recent outcomes suggest that the Australian economy can sustain lower rates of unemployment and underemployment.

Inflation is expected to pick up, but to do so only gradually. In both headline and underlying terms, inflation is expected to be close to 2 per cent in 2020 and 2021.

There are further signs of a turnaround in established housing markets. This is especially so in Sydney and Melbourne, but prices in some other markets have also increased recently. In contrast, new dwelling activity is still declining and growth in housing credit remains low. Demand for credit by investors is subdued and credit conditions, especially for small and medium-sized businesses, remain tight. Mortgage rates are at record lows and there is strong competition for borrowers of high credit quality.

The easing of monetary policy this year is supporting employment and income growth in Australia and a return of inflation to the medium-term target range. The lower cash rate has put downward pressure on the exchange rate, which is supporting activity across a range of industries. It has also boosted asset prices, which in time should lead to increased spending, including on residential construction. Lower mortgage rates are also boosting aggregate household disposable income, which, in time, will boost household spending.

Given these effects of lower interest rates and the long and variable lags in the transmission of monetary policy, the Board decided to hold the cash rate steady at this meeting while it continues to monitor developments, including in the labour market. The Board also agreed that due to both global and domestic factors, it was reasonable to expect that an extended period of low interest rates will be required in Australia to reach full employment and achieve the inflation target. The Board is prepared to ease monetary policy further if needed to support sustainable growth in the economy, full employment and the achievement of the inflation target over time.

Interest rate predictions

The decision to hold comes after the central bank pulled the trigger in October, June and July, and at a time of rapid growth in the Australian property market. 

Over November, the Australian property market accelerated to etch its largest monthly growth since 2003, 1.7 per cent. The RBA’s decision was also unsurprising to many economists who predicted the bank would wait to see how Christmas and New Year spending activity impacted the economy, before making another decision in February 2020.

“The RBA is in no rush to cut the cash rate a fourth time in 2019 given the length of time it takes for monetary policy stimulus to absorb into the economy,” Mortgage Choice’s Susan Mitchell said prior to the decision. She was one of the 32 of 33 commentators on Finder’s RBA interest rate panel to predict a hold verdict. 

“The bank is likely to wait and see whether positive signs emerge from the economy before acting again. That being said, forecasts for wage growth, inflation and the labour market suggest that the Board may resort to cutting the cash rate once again in the new year.”Given the cash rate is already at record low levels and the lacklustre economic response to the recent rate cuts, the RBA will hold steady this month and reassess conditions in the new year before cutting rates further,” he said.

CUA’s Tim Moore also predicted the RBA would hold, but said it’s only a matter of time before the central bank cuts again.

“They are willing to wait and see the outcome from previous cuts, whilst giving the consumer time to digest the changes. Not a question of if but more so timing.”https://media-mbst-pub-ue1.s3.amazonaws.com/creatr-uploaded-images/2019-12/9718ff40-1492-11ea-bfbc-aed4280494c3

Posted in Australia, Brisbane, china, ECONOMIC OUTLOOK, family, finance, LJ Gilland Real Estate Pty Ltd, ljgrealestate, maintenance & roofing, Maintenance Renovating tips Construction Home Staging Property Sales Property Management Property Investor Builders Developers Rentals Sales Tenance, Queensland, Real Estate, rentals, rentals sales, sales | Tagged ,

A State-By-State Guide to Tenant and Landlord Rights

Queensland

  • Bond is four weeks’ rent if rent is less than $500/week. Bond can be unlimited if rent is more than $500/week.
  • Rent increases must be six months apart.
  • Notice for a landlord to end tenancy is two months.

Click here for more information on tenant and landlord rights in QLD.

https://gillandrealestate.wordpress.com/2019/12/03/a-state-by-state-guide-to-tenant-and-landlord-rights/

Posted in LJ Gilland Real Estate Pty Ltd

How To Renovate A Rented Property [Infographic] | Lifehacker Australia

https://www.lifehacker.com.au/2019/12/how-to-rennovate-a-rented-property-infographic/

Posted in LJ Gilland Real Estate Pty Ltd