An off the plan purchase is a purchase of a dwelling (house, apartment or townhouse) or land prior to its construction or subdivision. Purchasing off-the-plan can sometimes enable you to enter the property market at a lower price (albeit not always the case). This is possible as developers offer lower prices and financial incentives (such as rebates) in order to secure enough pre-sales to start the project. Thus, providing a great opportunity for both investors and home buyers. Whilst there… Continue reading

As the Victorian Government moves to cut stamp duty for first home buyers, find out what it means for you. 1 July is here, and it brings good news for first home buyers across Victoria: stamp duty will be completely abolished for properties valued under $600,000. For properties valued between $600,000 and $750,000, first home buyers will receive a variable concession (applied on a sliding scale). There is currently no stamp duty concession for first home buyers on properties valued… Continue reading

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 Continue reading

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? Continue reading

Property Market & RBA Official Interest Rates in March 2012 Housing prices have shown some signs of stabilising recently after having declined for most of 2011, but generally the housing market remains subdued. The Reserve Bank of Australia (RBA) has announced a 50 basis points cut. Continue reading