Great news for homeowners, property buyers, and investors! The Reserve Bank of Australia (RBA) has announced a 25 basis point cut to the official cash rate, bringing it down from 4.35% to 4.1%. This marks the first rate reduction since 2020, offering potential savings and opportunities for those looking to buy or refinance their properties.
Stepping into the world of property investment as a first-time rental provider is an exciting milestone. Not only does it open doors to a reliable income stream, but it also sets you on a path to building long-term wealth. However, transitioning from a property owner to a rental provider involves more than listing your property—it requires understanding legal obligations, maintaining your investment, and establishing strong relationships with your renters.
If you’re in the market for a new home that offers the perfect blend of convenience, culture, and contemporary living, Seddon Square might just be your dream destination. Nestled only 7km from Melbourne’s bustling CBD, this new development is set to redefine inner-west living. Here’s why Seddon Square is the ideal choice for your next home:
With all the recent discussions around stamp duty savings in Victoria, we want to clarify how these benefits apply to off-the-plan sales and help buyers understand the unique financial advantages of these types of purchases. Buying off the plan can be an appealing way to secure property while reducing upfront costs, and stamp duty concessions can further enhance these savings. Here’s a guide to understanding stamp duty for off-the-plan sales and how you might be able to make the most of these incentives.
Summary of Changes: Applies to: Off-the-plan apartments, units, and townhouses. Stamp Duty Calculation: Based on land value, not the total property price. Availability: Effective for one year, ending 21 October 2025. Eligibility: No cap on eligibility; available to all buyers, not just first-home purchasers. The Victorian Government has made a groundbreaking change to stamp duty concessions, offering greater savings for buyers of apartments, units, and townhouses. This initiative is expected to significantly boost affordability for both homebuyers and investors across the state and will be available for the next 12 months starting from 21 October 2024.
Purchasing an apartment is a significant investment, and one of the most important documents you’ll encounter during the process is the strata report. This report offers invaluable insight into the condition and management of the building you’re considering, so it’s essential to know how to read it and what to look for. Here’s a breakdown of the key elements you should focus on when reviewing a strata report:
