Apartments sell at a loss… Yeah Nah
It’s a good headline. “Apartments sell at a loss”. Let’s understand what is going on here. CoreLogic research found that last year 1 in 5 Melbourne apartments, sold below their previous sale price. It was higher in the CBD which is where most apartments have been built. To understand what is going on here, it’s…Read More→
Is it time to sell or buy apartments?
It’s not often you will hear a real estate agent say it’s not a good time to sell an apartment but here goes… It’s actually time to buy, or at least hold your apartment rather than sell. While prices are solid, they will get better over the next few years. Time will decide if that…Read More→
Short stay vs Long stay rental. Which is best?
While short stay rental may sound like a great way to make some extra money there are lots of extra costs. In this chat we work through the pros and cons of short vs long stay rentals including what property is best suited. Also what are the extra costs of short stay rentals inluding the…Read More→
7.5% short stay tax – aka “Airbnb tax”
You may have heard about the new 7.5% short stay tax or “Airbnb tax”, but there is more to this than just a new tax. From 1st January 2025, the Victorian Government will charge 7.5% tax on any income generated via short stay rentals. If investors are weighing up short stay vs long stay, this…Read More→
Rent increases. How much, how often and what to do.
With the rental market growing rapidly many owners and renters are dealing with the issue of rent increases. Owners want to look after their renters but need to cover increased costs. Renters are battling cost of living pressures so it is a tricky balance. This is a computer generated transcript On 3AW afternoons, Talking Apartments…Read More→
Does Victoria have an Apartment View Tax? Live on 3AW
The Gold Coast Council are changing their rating system for apartments so now higher apartments with a better view pay more rates. Does Victoria have an apartment view tax like this? Also we chat about when investors sell should they ask a tenant to move out or is it OK for them to stay. Listen…Read More→
How do tenants in common & joint tenants differ?
The first thing to know about tenants in common and joint tenants, is they are not tenants at all. (Well not as we normally think of tenants). They are actually co-owners If you and your partner or friend own a property together, you are either tenants in common or joint tenants. These terms can be…Read More→
Is there really an apartment view tax?
Should an owner pay an apartment view tax just because their apartment has a better view? Different councils around Australia apply different methods to calculate their rates. Some apartment owners pay higher rates because their apartment is more valuable. Is that fair? Or should all apartments attract the same rates? I recently discussed this issue…Read More→
Will apartment rents keep rising? Live on 3AW
Apartment rents have been volitile over the last few years. Lately they have risen sharply and everyone wants to know if they will keep rising. Listen here or you can read the transcript below. On afternoons on 3AW afternoons, the property update, thanks to Wood Property apartments make it possible, and Wood property makes apartments…Read More→
Why are there vacant apartments?
In such a tight rental market are there really vacant apartments? Well there are reportedly almost 100,000 apartments or houses “vacant” in Melbourne. How can this be? Why would people leave a property empty for so long? It appears there are many reasons. Some more rational than others. The most recent report by Prosper Australia,…Read More→
Housing crises or housing choices?
Labelling our current housing situation as a “housing crises” implies it is a short-term deadlock or impasse. It makes us think of the housing shortage like a situation that just needs diplomatic agreement between various parties such as government and industry to resolve. If only it was that simple… While there are many issues at…Read More→
Will migration policy impact apartment rents?
Apartment rents have been rising strongly for almost two years due in part to high net migration. With changes in Australia’s migration policy both owners and renters want to know how it will impact rental rates. While apartment capital values are influenced by a cocktail of inputs like job security, personal balance sheet, cost of…Read More→