The NSW government has announced that expert independent planning panels will be mandatory in Sydney and Wollongong for certain developments, which some see as good news while others see as “eroding local democracy”.
Changes to how depreciation can be claimed on residential properties, following the release of the 2017-18 federal budget, will cost some investors thousands of dollars, while potentially having a negative effect on housing affordability despite being designed to do the exact opposite, experts warn.
Sydney End of the market upswing. Now being constrained by buying and rental affordability, plus low rental yields. Yet, sales demand still exceeds resale supply. New housing supply remains relatively tight.
Sydney’s vacancy rate held steady in April at only 1.7 per cent, indicating there are supply constraints in the rental property market.
Australia’s richest man says keeping foreign buyers out of the country and other cooling demand measures are not long-term answers to housing affordability.
With many suggesting this is a complete political backflip by the government, the change in approach will have an impact on many Australians – nonetheless real estate businesses [and the people behind them].
The Rentberry app, tipped for launch in Australia later this year, has been slammed by tenant unions as an impending “disaster” for rental prices.
Your Investment Property Tax Experts answer any tax queries you may have regarding your property investments and wealth creation strategies.
Councils are set to be stripped of the power to determine development applications above a certain value in a governance shake-up that will mandate the use of independent planning panels across most of NSW.
First home buyers will be helped into the property market with more than $1 billion of stamp duty concessions and measures to level the playing field with investors under reforms unveiled by Premier Gladys Berejiklian to tackle housing affordability.