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May 2013 Essential Update – First Home Owners Grant
May 2013 Essential Update on First Home Owners Grant, Stamp Duty Discounts, Concessions, Exemptions and Savings Summary From 1 July 2013 First home buyers will receive $10,000 if they purchase a new home (off the plan, land and building, etc). First home buyers will be entitled to a 40% reduction on stamp duty (subject to [...]
RBA Interest Rates Cut to Record Lows
Today, the Reserve Bank of Australia has cut the cash rate interest rate by 25 basis points to 2.75% (1 basis point is 1 one hundredth of a per cent, or 0.01%). Governor Glenn Stevens said ‘further decline in the cash rate was appropriate to encourage sustainable growth in the economy, consistent with achieving the [...]
2013 – Current cooling off period laws and changes
The Right to Cool Off in 2013 (Cooling Off Laws in Victoria) Most of us are aware of the purchaser’s right to change their mind after signing a contract to purchase real estate (even if the vendor hasn’t signed anything to accept your offer). Although this is at odds with the basic principle of contract [...]
Online Conveyancing Coming Soon!
Watch This Space – Online Conveyancing We are very excited to announce the forthcoming launch of our Online Conveyancing Portal. We are investing heavily in increasing efficiency and convenience for everyone involved, real estate agents, clients, bankers, etc. Update: The National e-Conveyancing network is fast becoming reality. The current online infrastructure and framework is being [...]
Reserve Bank Cuts 25 Basis Points
Property Market & RBA Official Interest Rates in June 2012 The Reserve Bank of Australia (RBA) has announced a 25 basis points cut. As a result the official interest rate (cash rate) is now 3.5 percent. As always, the question remains, what amount will actually be passed on by the banks and lenders to borrowers? [...]
What is the Reserve Bank Interest Rate?
What actually is the RBA’s interest rate? The Rerserve Bank of Australia’s (RBA) announced interest rate are not anywhere near the amounts the banks charge for money they lend through home loans, personal loans, etc. So what is the RBA interest rate then then? To fully understand what the RBA’s interest rates figure is, an [...]
Reserve Bank Cuts 50 Basis Points
Property Market & RBA Official Interest Rates in March 2012 The Reserve Bank of Australia (RBA) has announced a 50 basis points cut. For a $300,000.00 loan, the cut equates to $1,500 worth of interest savings per annum (provided the banks and lending institutions pass on the cuts). While the announcement was predominantly made to [...]