If you’re thinking about selling your home and downsizing, consider the pros and cons. Check if selling your home affects your government benefits.
HomeBuilder provides eligible owner-occupiers (including first home buyers) with a grant of $25,000 to build a new home or substantially renovate an existing home. HomeBuilder will assist the residential construction market by encouraging the commencement of new home builds and renovations. You will be able to apply for HomeBuilder when the relevant State or Territory Government that you live in, or plan to live in, signs the National Partnership Agreement with the Commonwealth Government. Information on when and how you will be able to apply will become available through the relevant State or Territory revenue office in due course.
Many Australians view housing as an attractive investment seeing it is as a more stable option than other alternatives. Property investors have achieved strong capital gains as falling interest rates, preferential tax treatment and high immigration levels have supported house prices.
How much you need for a house deposit, and what you need to consider in making this decision.
The First Home Loan Deposit Scheme is a Australian Government initiative to support eligible first home buyers purchase a home sooner. It does this by providing a guarantee that will allow eligible first home buyers on low and middle incomes to purchase a home with a deposit of as little as 5 per cent. The Scheme will support up to 10,000 loans each financial year, starting from 1 January 2020.
Initial dwelling price targets were achieved early; therefore the trends identified for 2020 will need to be reassessed. Momentum in the property market is strong and leading indicators point to solid price rises continuing. The outlook for population growth and dwelling investment, points to a housing shortage that will manifest over 2020.
Data for lending to households and businesses data for December 2018 was released earlier this week. This data series replaces the old housing finance and lending finance series and includes some different data. Specifically focusing on lending to households the data shows that the weakening of demand for mortgages has continued.
Homes in the designated neighbourhood boundary of some of Melbourne’s popular public primary and secondary schools are securing sale prices of up to $412,500 more than those just outside the zone, according to the latest REIV data.