Residential Tenancies Act Summary of Changes
Click here to view a summary of the changes to the Residential Tenancy Act 2021 that came into place on the 29th of March 2021 If you have any questions, please feel free to contact us on 59863000 at any time.
Residential Tenancies Act Reforms 2021
New renting rules come into effect on 29 March 2021, so it’s time for every renter and rental provider (landlord) to understand the changes. Whether you’re a renter or rental provider (landlord), the new rental rules will create a fairer, safer system for all Victorians. More than 130 reforms are being introduced. These clarify the rights and respo...
Book Review: The Slight Edge by Jeff Olson
Simple daily disciplines repeated consistently over time = The Slight Edge. Scott's Thoughts: I've read this book twice this year and it's turning into an all-time favourite. It is very similar to The Compound Effect and Atomic Habits and I expect you will find each of them complement and expand on The Slight Edge. Olson delivers the effects of time compoundi...
Households Shore up Finances
Households are saving money by being frugalduring lockdown, suggests figures from theCommonwealth Bank.Most households have the same income as beforebut greatly reduced expenditure, giving them theopportunity to add to savings and pay off debt. Banksare still lending and a significant number of householdsare also better off because of stimulus payments.Based on the bank’s credit and debit...
Buyer Searches Rise Across Nation
Home buyer interest is up almost 50% on this timelast year, according to property search data fromrealestate.com.au.Compared to April 2019, the number of peoplesearching for a home NSW is 39% higher. In Victoriait is 40% greater, in Queensland it has lifted 33% andin South Australia it is up 40%.Prospective buyers have adapted smoothly to the newdigitised ways of doing business as they continue...
Revival Sparks Sales Spike
National developer Stockland has recorded a 60% increase in new housing sales in the last three months of 2019, with residential property and retirement living expected to continue to deliver strong results.The housing market has rebounded since July making Stockland’s results consistent with other market measures – new loan commitments have increased on the back of interest rate cu...
Renovations Hit Record Levels
Cheaper finance and fewer property listings are behind the growing trend of home renovations, says REA Group chief economist Nerida Conisbee.Australian Bureau of Statistics data shows Queensland councils have approved the highest number of alterations and additions to homes during the six months to the end of December.Around $930 million in major residential renovations work was approved in Que...
Multi Generations The New Norm
Increasingly, several generations of Australian families are living together under the same roof. Social demographer Mark McCrindle says there are several reasons for the lifestyle choice.“Younger generations are either leaving home later or returning back to the parental home,” he says.“Then on the parents’ side, they’re living longer and sometimes the older paren...
Listings Drop Puts Pressure On Prices
Home buyers have been active in markets across Australia, making the most of favourable lending conditions by buying up and depleting stock levels of properties for sale.The latest figures from SQM Research show listings nationwide fell 12% in December compared to the same time a year earlier.The stock shortage has inspired a rise in asking prices, with the national average rising by 2.4% for h...
Green Home Loans Offer 2.44%
Australians will soon be able to get a discounted home loan if they buy or build housing that meets high energy efficiency standards, with rock-bottom interest rates from 2.44%.The Clean Energy Finance Corporation is launching a green home loan program for borrowers who meet a minimum 7-star energy rating.Bank Australia is the first lender to offer the scheme and will grant a 0.4 percentage poi...
Brokers Optimistic About 2020
A survey of mortgage brokers has revealed a high level of optimism for residential real estate markets in 2020. The HashChing 2020 broker survey has found that most mortgage brokers expect the recovery in major markets to continue, interest rates to fall further and investors to return to the market in large numbers. HashChing CEO Arun Maharaj says brokers are “justifiably optimistic&rd...
Launch Looms For FHB Scheme
The Federal Government’s First Home Loan Deposit Scheme starts on 1 January, but it is limited to 10,000 borrowers and not all lenders have been endorsed to participate, so applicants need to be aware of all the terms and conditions.The scheme enables borrowers with deposits of just 5% to be given a special government guarantee which allows them to avoid expensive lenders’ mortgage ...
Sustainable Homes of the Future
With drought and water supply a core issue in many parts of Australia, it’s noteworthy that a residential estate with water-saving technology has taken out an Urban Development Institute of Australia’s Award for Excellence. The design saw the homes’ water use cut by 70%.UDIA Victoria chief executive Danni Hunter says innovations around environmental excellence are making a big...
