real-estate

Investment Property In Sydney Heats Up

By |February 4th, 2010|

It has been a busy start to the new year in the Sydney investment property market as good quality properties are being sold quickly to eager buyers – sometimes at their full asking price.

I’m not yet sure whether this strong buyer demand will be maintained throughout the year – or whether the strong results from sales early in the year will induce others to list their properties for sale – providing some increased supply to keep prices more in balance.

As I have previously reported, the Australian residential property market has fared better than several other markets internationally over the last 20 months. Several local market watchers (professional and amateur) saw this as being in part due to the government’s housing stimulus for first home buyers – and predicted that the winding back of these subsidies would have a slowing effect on property markets – particularly the first home buyer belt, which in Sydney is the A$500,000 to A$650,000 segment. […]

Australian property boom kicks off 2010

By |February 4th, 2010|

Australian house prices rose last quarter by the most since 2003, and combined with the expansion of the manufacturing sector the central bank may have to extend a record round of interest-rate increases.

Economists are expecting Reserve Bank Governor Glenn Stevens to extend the benchmark lending rate, which reached 3.75 percent in December from a half-century low of 3 percent in October.

An index measuring the weighted average of prices for houses in the eight capital cities climbed 5.2 percent from the previous three months, the Bureau of Statistics reported in Sydney. […]

Important changes to Australian visa holders’ property ownership rules

By |April 24th, 2009|

Australian visa holders who own or who are looking to buy property in Australia are now subject to updated policies.

As of the 31st March 2009, Australian visa holders must adhere to new regulations implemented by the Foreign Investment Review Board (FIRB).

These include the re-definition of ‘temporary residents’ for investment purposes. An Australian temporary resident includes all holders of a temporary Australian visa that has a validity period greater than 12 months, or all non-Australian citizens who have submitted an Australian visa application for permanent residency (PR) and are holders of a bridging visa that allows them to stay in Australia until DIAC approves their PR application. […]

Rules Eased for the Purchase of Property by Temporary Residents of Australia

By |December 23rd, 2008|

The Australian Government has announced a relaxation in its policy affecting the purchase of real estate by temporary residents living in Australia.

Currently, all temporary residents and non-residents (including businesses) must notify the Australian Government through the Foreign Investment Review Board of their intention to acquire residential real estate, and must comply with post-purchase conditions […]

Australian First time home buyers the winners as grant increased

By |October 15th, 2008|

The federal government has announced a $10.4 billion package to help Australia counter the global economic crisis and first home buyers will be among the major beneficiaries.

The global financial crisis has entered into a new phase and Prime Minister Rudd’s Economic Security Strategy is designed to strengthen the Australian economy in the face of the worst global financial crisis since the Great Depression.

First home buyers are already eligible for a grant of $7000, which is funded by the Federal Government and administered by the states.

Now anyone who signs a contract to buy their first home from yesterday until June 30 next will be eligible for a grant of $14,000 if they buy an established dwelling and $21,000 if they buy a new house or apartment. […]

Sydney Rental Market hits Crisis Point

By |September 27th, 2008|

I remember when we first arrived in Australia back in late 2006 and I wrote about the problems we experienced trying to find a rental property here in Perth.

Speaking to friends and work colleagues who are currently in the ‘Rental market’ it seems that similar problems still exist, however compared to the other side of Australia in New South Wales the job of getting a rental here in Western Australia seems a relatively easy one.

The shortage of available rental properties in Sydney is such an issue at the moment that some agents have made complaints of being abused and threatened by frustrated prospective tenants.

The frequency of such events isn’t a low figure either with an Institute survey finding that 32 per cent of real estate agents had been threatened or abused within the past month. […]

Google Street View – Now that is useful!

By |August 9th, 2008|

There’s a ton of useful sites on the web that may help you decide where you’ll want to settle once you move to Australia.

We’ve already spoken about the Australian Suburb Profiles which are available over at Domain.com and theres a number of great real estate websites which you can use to identify properties to […]

Australian Real Estate Market – So Whats Happening?

By |March 29th, 2008|

It’s been a whilst since I wrote about the Australian Real Estate Market so I thought I’d write an entry to give an update on whats going on from a housing perspective in this great land of ours.
In Perth the rising interest rates and an exodus of investors has trebled the number of houses […]

The folks arrive down under and time for a christening

By |January 21st, 2008|

 It’s been a little while since my Bunnings Warehouse post but I’ve been pretty busy of late :-/

My folks have been over from the UK for the last couple of weeks and it’s been really good to catch up with them after not seeing them now for well over a year.

I have really missed my folks but as our regular readers will probably know it’s been a damn busy year. Time literally has flown by in the last twelve months or so. Still it’s really nice for them to visit us here in our new home.

Living in Australia you’ll always have people that want to visit. It’s actually pretty amazing how many ‘friends’ creep out of the woodwork when you migrate down under. […]

Australia – A review of living down under one year on

By |December 28th, 2007|

It’s been a while since I’ve written a decent sized blog entry so I thought I’d spend a little time writing this one.

It was the 25 November 2006 when we landed in Australia and over one year on we still call this place down under home.

Although I’ve written a lot about life in Australia during the past year I didn’t think I would be right to give an ‘informed’ view about living here in Oz until I had at least got a full year under our belt.

We still have so much to learn about this country, its culture and its people. After all, although I’ve travelled to all the Aussie states on business in the last 12 months, we decided to call Perth our home and the majority of our Aussie experiences are based on our time here in Western Australia.

Having said all that and in no particular order. […]

One year in Australia – Time flys when your having fun!

By |November 25th, 2007|

I can’t believe that it’s been one year today since we first set foot on Aussie soil.

It only seems like two minutes since we were saying our goodbyes and leaving the UK.

So much has gone on in the last twelve months. We’ve struggled to find rental accommodation, we’ve bought a car for the missus and for me, we’ve had a beautiful baby girl and we’ve bought a house!

To say the last 12 months has been busy would be an understatement but what a fantastic and exciting 12 months it has been.

I really can’t even begin to explain how at home we now feel here in Australia. :)

Anyways; I’m going to write a more substantial Blog entry about the good and bad of living in Australia in the coming weeks.

Now we’ve been here 12 months I recon we’ve all learnt quite a bit about living here in Aus although the next entry will need to wait for another day as I’m away in Sydney on business all next week and I need to pack […]

Perth Rentals increasing by 20% a year

By |October 8th, 2007|

I’ve written quite a bit about the state of the Western Australian housing market of late.

According to a recent report published by the Real Estate Institute of Australia, paying weekly rent was now a major financial headache for many WA renters.

According to the report the average median rent for a three bedroom property in Perth during the June 2007 quarter was $300.00 per week.

Personally, compared to the $450 a week we’re paying for our four bedroom house in Kinross, I don’t think that’s bad, however this figure does account for 25.7% of the average earnings in Western Australia during the same period so it’s obviously going to be hitting some folks pretty hard.

The report goes onto say that weekly rents are now increasing at a much faster rate than the average weekly earnings in WA which isn’t going to make the whole housing situation any better. […]

We own a house!

By |September 26th, 2007|

It’s happened, we finally own our own bricks and mortar here in Australia.

We got the call from our conveyancers that the settlement had been completed just after lunchtime yesterday. What a relief that was!

We picked the keys up and it felt so great unlocking the door and setting foot in our very own home for the first time.

The in-laws who are over from Sydney helping the missus out, post caesarean section also came to have a look and gave it the big thumbs up!

I know at the time it was an absolute pain in the arse but despite the masses of forms that had to be filled in for both the mortgage docs and also the conveyancers we found the whole thing a pretty straight forward exercise. […]

Hey Hey it’s settlement day!

By |September 25th, 2007|

Well, the last 6 weeks of stress and form filling should culminate today in the settlement on our new home.

I know it should be a relatively straight forward process but it’ll still be really great to finally get the call telling us that we now own our own bricks and mortar here in Western Australia.

Since arriving here in Perth in November last year we’ve lived in Mindarie keys, the suburb of North Perth and Finally our current spot here in Kinross.

All have been pretty nice houses but because we were renting these properties you never could really call them home. […]

Is now the right time to buy a house in Perth?

By |August 11th, 2007|

I read quite an interesting article about the property market recently. As our regular readers will know we have recently renewed the lease on the property we are renting but I think it will soon be time to for us to finally get on the Australian property ladder and buy our first house.

The thing […]

Land for Sale in Australia – but not as we know it

By |April 28th, 2007|

I took this picture last week (click on thumbnail for a larger image) to give you an idea of the size of some of the plots of land that you can pick up here in the Northern Suburbs of Perth.

This latest land release is in a place called Burns Beach which is approx a […]