In line with the budget announcement last week, the Federal Government has stated that it will extend the First Home Loan Deposit Scheme. The Loan Deposit Scheme, which was due to end in June, will allow 10,000 more first home buyer loan guarantees up to a certain threshold, on the condition that those who get approved are purchasing new builds. The scheme will guarantee the loans of …
What do borders opening again spell for house prices?
A client asked us a question recently regarding borders opening up and international arrivals happening again. They were curious what impact, if any, this would have on house hunting and the housing market overall. Real estate is a finely balanced eco-system. Not one thing generally has a huge impact, but over time, several things can affect market sentiment. As the borders open up, …
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Victorian Government Homebuyer fund – a way to own your new home
If home ownership has always been just out of reach for you, the Victorian Homebuyer fund could be of assistance. The Victorian Government acknowledges that increasing house prices have made it difficult for Victorians to save for a deposit and get into the market. To help purchase a home, the State Government have created a Homebuyer's fund where $500 million has been set aside to help 3000 …
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New social housing levy for developers scrapped
This week, the Victorian State Government has scrapped their newly proposed social housing levy earmarked for July 2024. The Andrew's Government planned to introduce the levy on residential developers building three dwellings or more or greater than 3 lot subdivisions. The 1.75% contribution was set to fund the creation of 1700 new social and affordable housing each year. The proposal was met …
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2022 school zone changes set to deliver property value increases to swathes of homeowners
Changes to school zones in 2022 are set to bring substantial increases to the value of homes that are suddenly cast into sought-after zones. While most school zones will remain unchanged, a number of them will be realigned to accommodate the "14 new schools and campuses opening next year, as well as changes in enrolment demand". These new schools are part of the State government's 100 New …
Melbourne House Prices for First Half of 2015
Home values in Australian cities recorded a 3.8 percent growth in the first four months of the year owing to the strong market conditions particularly in Sydney and Melbourne. This is according to the CoreLogic RP Data Home Value Index. The index report, however, noted a drop by 0.9 percent for prices in May due to a natural correction from the previous strong month on month results. This is …
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