Wood Property

Is your apartment tax ready?

Apartment Tax Wood Property

Are you and your apartment tax ready? With the financial year end fast approaching it’s time to get your investment apartment tax ready. Part of the challenge is understanding what can and can’t be claimed as a tax deduction. Then you need to pull all the information together for your accountant. Yes I know …..Read More→

Will Melbourne apartment rents hibernate this Winter?

Melbourne apartment rents

Historically, Melbourne apartment rents spike in Summer and hibernate in Winter. But last year they didn’t. Now as the days shorten through the middle of the year, we all want to know, what will happen to the rental market in the Winter of 2024. The apartment rental market was so strong in 2023 it ploughed…Read More→

Is an apartment lease what you think?

Apartment lease Wood Property

At its core, an apartment lease is a simple agreement. An owner gives their apartment to someone for a period of time in return for rent. Broadly speaking a lease is a mutually beneficial pact that works very well and is centuries old. There are many lease rules like “quiet enjoyment” that are important. The…Read More→

Melbourne apartment values rising

Melbourne apartment values Wood Property

Melbourne apartment values rose in more suburbs that Melbourne house values during the last 3 months according to recent CoreLogic research released this week. Suburbs where apartment values rose the most in the last 3 months include; Carlton – 6.7% Docklands – 4.6% North Melb – 3.9% Windsor – 3.6% Clayton South – 3.5% Mill…Read More→

Tiny apartments provide choice

tiny aparmtents Wood Property

Could it be unfair or even disrespectful to call tiny apartments dog boxes if that is the accommodation choice of its occupier? Perhaps poorly designed apartments deserve the title, but this just highlights that size is not the issue. For tiny apartments, clever design is key. Planning and design regulations like those in Victoria such…Read More→

Rents are going up… what about values?

Rents are going up

We know rents are going up but there were two apartment research reports released to the market this week that caught my eye. Tim Lawless of Core Logic – “Gap widens between houses and unit values“ Louis Christopher of SQM Research – “Vacancy rates sharply decrease over January“ Core Logic and SQM are both highly…Read More→

Off the shelf apartments are coming…

off the shelf apartments

Have you checked to see if your street and suburb is about to be developed with off the shelf apartments? The Victorian Government has released an interactive mapping tool showing the precise location where off-the-shelf apartments can be built. What is an off-the-shelf apartment I hear you ask… (had to research it a bit myself…Read More→

Land tax on investment property – what has changed?

Land tax on investment property

The impact of the changes to land tax on investment property depends on several things. How many properties you own. The value of the properties (land value) If you own houses or apartments. If you are an Australian tax paying resident or not. Land Tax rate changes came into effect in Victoria on 1st January…Read More→

Rent bidding – What’s all the fuss about?

Rent bidding

The Rent bidding debate lit up the real estate media recently. The phone lines at 3AW went into melt down as Jacqui Felgate took calls about rent bidding. The calls and social media commentary that followed, demonstrates the very real frustration people are feeling when finding somewhere to live during this rental accommodation pinch. The…Read More→

Apartment market in 2024

Apartment market in 2024

What will happen in the Apartment market in 2024? We dig into rents, values, supply, immigration, land tax, government intervention and more. As 2023 fades in the rearview mirror, the most defining experience of the market was a dead heat between A sharp jump in rent The rise and rise of interest rates. Rents started…Read More→

Buying your first apartment

buy an apartment

Buying your first apartment or house can be a challenge. Cost of living pressures (now dubbed cozzi-livs 😁) have made it tough to save a deposit and pay off a loan in the traditional way. If the Bank of Mum and Dad is not an option for buyers, there is always the bank of Jacinta and…Read More→

Owners and renters help each other.

In normal markets owners and renters help each other and everything ticks along easily. Lately the shortage of rental accommodation is a regular feature on the nightly news and there are challenges for both owners and renters. This week, a lead story on ABC news was the Rental Affordability Index report prepared by National Shelter,…Read More→