Kitty Parker

Aussie home prices rose again last month 🤯 Australia's median home price is almost $800,000 and is 5.6% higher than a year ago. All of this comes at the height of the spring selling season, with lots of new homes for sale giving more choice for buyers. And while home price growth is slowing, we’ve seen 22 consecutive months of national home price growth despite higher interest rates and housing affordability constraints. Take a look at the video below for more details and let me know in the comments — what's your outlook for the property market over the next 12 months? Source: PropTrack Home Price Index - October 2024: https://lnkd.in/gXSTN7Z7 #property #realestate #LinkedInNewsAustralia

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Love him or hate him, Donald Trump's much-anticipated nomination for the 2024 presidential election caused ripples far beyond American shores. In fact, we’re witnessing an unexpected phenomenon in the Australian property market. According to a recent report, US-based searches for Australian homes on realestate.com.au have surged by 51% in the year leading up to July. Even more striking, interest in Victorian properties skyrocketed by an astounding 130%.This surge isn't just limited to expats looking to return home. The sustained growth in these searches over the past five years indicates a broader trend of Americans considering a move Down Under. So, why Australia? It’s not solely about escaping potential political turmoil. Factors like universal healthcare, democratic stability, strong employment rates, and competitive wages make Australia an attractive option for those seeking a fresh start. Melbourne, in particular, has emerged as the most sought-after location for overseas property seekers, whether they are looking to rent or buy. But this trend is not just talk. Qi Chen, co-founder of OpenLot.com.au, reported that US traffic to their website jumped 80% in July compared to June—nearly triple the figures from a year ago. Is this a fleeting trend or the beginning of a larger migration pattern? Only time will tell. However, one thing is clear: global politics and local property markets are more intertwined than ever before. What are your thoughts? Comment below

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There's a noticeable shift in the Australian rental market, according to a paper by the Australian Housing and Urban Research Institute (AHURI), authored by Reynolds, Parkinson, De Vries, and Hulse. Higher-income earners, those making $140,000 and above per year in 2021, grew from 8% of the private rental market in 1996 to nearly a quarter (24%) by 2021. Meanwhile, the number of renters on lower incomes, those earning up to $46,000 in 2021, stayed relatively steady during the same period. The trend toward renting among higher-income earners is driven, in part, by deteriorating housing affordability, says Eleanor Creagh, Senior Economist at PropTrack.

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Can’t get enough #strata cases? Try the Canadian flavoured versions If you love #stratatitle legal cases [like me] and there’s just not enough in Australia, why not try some imported versions? And, if so, where better than from a place that has a very similar strata title legal , ownership and management system. Well, British Columbia in Canada has all the following features: - a legal system based on the English Westminster model, - the Strata Property Act [SBC 1998] that’s been modelled on the older NSW strata laws, - the Civil Resolution Tribunal that handles strata disputes, and - an active strata title sector with stakeholders that looks a lot like we have here. So, it’s a tasty and satisfying alternative. https://lnkd.in/enZUDdhH

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Why did he leave himself so "exposed" ??? or was it unavoidable? As a Licensed Buyers Agent dealing with similar types of coastal purchases & finding a lot of those clients that want “full discretion”, I am amazed that Mr Albanese & or his buyer's agent did not have a “legal confidentiality clause/document” signed by the vendor & sales agent .. something in place, to “not disclose” that he was the buyer of that house.  Alternatively, if it was bought in a trust structure? would that may have possibly hidden his identity. Whilst I believe personally that our Prime Minister is entitled to a private purchase of property for his own residential use and I do feel most Australians would probably agree ( which ever side of the political fence they sit). He has obviously worked/saved hard over his public career choice and deserves to buy whatever private home he wishes ready for when he does have the time to use it … as also does many other high profile people in the public eye. However, it still poses the question 🙋‍♂️ on why he would have left himself so open to such scrutiny when there "could be" more possible ways to provide a higher level of privacy around the transaction, to at least give him and his family the discretion they would no doubt expect ?? Would love to hear from any other property industry professionals, Solicitors, or Accountants on types of structure / agreements or actions that could be put in place to have avoided this entirely, in the comments section below, I get that "politics stirs the pot", though I am not reaching out for opinions on that, rather on the privacy factors in residential property purchases in this modern day. Ps - Congrats Mr Albanese, I actually grew up on a beach nearby that suburb and you will love it in the summer time! Just make sure you swim between the flags and keep your cool cabana at a safe distance to others 😎 ... Disclaimer: I do however think the beach suburbs in the Newcastle & Port Stephens regions are much better 😁👌

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Want to invest in Australian real estate with no acquisition or holding costs? Want to craft your own wealth building strategy through fractional investments in exclusive quality properties? Want to diversify effortlessly and choose investment in a single property or make investments in multiple properties? Are you ready to revolutionise your investment portfolio? Don't wait, dive into MyBrix, today and find out how. https://lnkd.in/gZRECZYE #MyBrix #AustralianRealEstate #PropertyInvestment #InvestmentStrategy #FractionalInvesting

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Five reasons to build a duplex in Sydney: 🏡 Housing shortage solution: Rapid population growth has made homes scarce and rent unaffordable. A duplex lets you build two homes on one block, boosting supply without needing more land. 💸 Income potential: Lease each unit or live in one and lease the other. ⏱️ Faster approvals: NSW’s Low-Rise Housing Diversity Code streamlines the duplex development process, getting your project to market sooner. 👨‍👩‍👦 Multi-generational living: Duplexes are ideal for extended families who want to live close while maintaining privacy. 💼 Capital gains: Duplexes maximise your financial gains because you are building two homes, almost for the price of one. Want to know if your block is suitable for a duplex? Message Dixon Homes Sydney to request a free feasibility report and find out how we can give you more for less. #duplexbuilder #duplex #sydneyproperty #DixonHomesSydney

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The key difference between strata and non-strata property - strata owners can be made to pay ongoing money because they own a home. Think about it. People who own non-strata homes pay their vendors and council rates. That's it. They'll never have to pay for a contract (utilities, cleaning, recreational facilities) created by someone who owned the home before them. They only pay contracts that they entered themselves. That's not an accident. It's a conscious choice by property law over centuries so people don't end up burdened by obligations to pay money that don't benefit them, but rather a previous owner or their associates. That rule had to be changed in strata to make people pay levies for the upkeep of the building - quite legitimate - but this has been consistently exploited by the strata industry: 1) owners are sitting ducks because, unlike the rest of us, they're legally obligated to pay money every year and 2) that happens via a collective body that has a separate legal status so it can enter contracts for which it's hard for individual owners to take complete responsibility. The result is that the strata industry has consistently used body corporate contracts to milk owners of as much money as possible and to bind them to those contracts as tightly as possible and as long as possible. Governments (aka our taxes) have had to limit the length of those contracts and enact provisions to help OCs terminate them, but that hasn't solved the problems. I've seen much worse contracts than strata management contracts mentioned in this article, particularly in #infrastructure. They're endemic. A key reason is that governments have never understood the connection between levies and the foundational rule of property law explained above. Levies are exceptional and they're potentially very dangerous. The power to charge them needs to be limited to legitimate and fair expenses. #strata #levies #highdensity #cities #TODs Chris Minns The Hon. Carl Scully Bronwyn Weir Strata Community Association Australasia Australian Broadcasting Corporation (ABC) John Minns Natasha Mann https://lnkd.in/gKFZ4QbA

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Property owners enjoying long-term profits CoreLogic analysis has found that 94.3% of vendors who sold their home in the March 2024 quarter were able to sell it for more than their initial purchase price. This was the highest rate of profit-making sales since 2010. The median profit was $265,000 – but, as the graph shows, the longer vendors had owned their home, the more of a profit they were likely to have made. Vendors who sold their home in the March 2024 quarter had owned their property for a median of 8.8 years. During that time, Australia's median property price increased 58.2%. #property #realestate #homeloans

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Property owners enjoying long-term profits 🥇🏁 CoreLogic analysis has found that 94.3% of vendors who sold their home in the March 2024 quarter were able to sell it for more than their initial purchase price. This was the highest rate of profit-making sales since 2010. The median profit was $265,000 – but, as the graph shows, the longer vendors had owned their home, the more of a profit they were likely to have made. Vendors who sold their home in the March 2024 quarter had owned their property for a median of 8.8 years. During that time, Australia's median property price increased 58.2%. #property #realestate #profit #realestateaccountants

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