Blog


Bank Of Mum and Dad Funding A Third Of First-Homes


JENNIFER DUKE SEP 6, 2017 Originally posted on Domain.com.au One in three first-home buyers are getting financial assistance from their parents to help them get on the property ladder, new research shows. But experts warn this could be fuelling inequality in the housing market and making property prices even more unaffordable.   First-home buyers are increasingly tapping into the bank of Mum and Dad, with 29 per cent being provided help from their family in the form of cash hand outs, rent-free accommodation and guarantor loans, a survey by comparison website Mozo found.   On average, a first-home buyer borrowed more than $64,000 — and 67 per cent of parents were not expecting it to be paid back.     First-home buyers are increasingly relying on mum and dad. Photo: Rob Homer   First-time buyers in NSW were borrowing the most from their parents, followed by Victoria and South Australia, which ranked equally. The ACT ...


Job Creation Hub Announcement Set To Improve Local Economy


REIQ’s latest Market Monitor report suggests that the Brisbane local government area (LGA) median house price has pushed to a new high of $615,000 with consistent growth continuing in the region.   The Queensland (QLD) capital city has clearly defied any predictions that it will follow Sydney’s market ‘slump’ a significant positive for investors eyeing off bargains in the Sunshine state.   The only issue that seems to be lingering in the area is the high rate of unemployment which has a hefty impact on the local economy.   In light of this, a number of local councils are implementing initiatives that will diversify their region’s economy in an effort to create new industries and new jobs.   Just yesterday Lord Mayor Graham Quirk announced that Brisbane CBD will now be home to a new $5 million dollar innovation hub, dubbed “The Capital”, which will help create hundreds of new jobs and help Brisbane’s start-...


The Importance Of Good Photography When Getting Your Property Rented


When it comes to getting your property rented, Affinity Property Australia know what does and does not work for the modern customer.  In our experience, the most important thing that you can do for your property is have professional photographs taken.    Why?   1. Today’s customer is extremely visual Each prospective renter is spending hours sifting through photos of hundreds of properties on multiple websites.  There are specific things they are looking for namely whether or not it is aesthetically pleasing to them, whether they could see themselves living there and how much effort the renter put into advertising.     2. Your property will be rented much faster Studies show that 9 out of 10 customers are looking for their rental property exclusively online and when they find something they like, they will take action exceptionally fast.  On average, rental listings with professional photographs have the best chance of being leas...


Affinity First Home Buyers Seminar


 Watch feedback from one of our First Home Seminars here:     At Affinity Property, we love to pass expert knowledge on to the younger generation so they can make informed decisions when it comes to entering the property market.  This is why we are committed to hosting regular first home buyer seminars and investor seminars.     Our First Home Buyers Seminars are highly informative, packed with great tips and advice to help property buyers.     Key topics we cover at these seminars - 5 Easy Steps to Buying your First Home - Getting the Best Finance for your property- Family Guarantors - Getting Ready to Buy - the Savings Plan - Accessing the right grants- Get good adviceFinance: Now is the perfect time to buy your first home in Queensland.  Because of the record low interest rate environment, the generous government grant, and $0 stamp duty for homes worth less than $500,000.   Affinity Property Aus...


Brisbane Takes The Cake As The Country's Best Performing Capital City


In the latest CoreLogic RP Data Home Value Index report, Brisbane has seen a substantial rise of 1.3 per cent.   The figures show that Brisbane has also increased to the third best performing capital city, with dwelling values increasing by 6.3 per cent, meaning Brisbane owners are around $18,560 better off.     While it’s pricing has increased steadily Brisbane is still among the three most affordable median dwelling prices of all the capitals at $475,000, with Adelaide and Hobart just slightly cheaper again.   In another shock result Sydney became the country’s weakest performer falling backwards by -2.3 per cent.   As well as this strong Brisbane market, late December last year Brisbane also took out the foreign investment strategy award.   Brisbane topped the list of Asia-Pacific cities contending for foreign investment opportunities.   As the silent achiever of the bunch, Brisbane beat Hong Kong, Tokyo and its Au...


Tightening Property Investment Yeilds


  The “golden years” of high returns from property investment may be over as yields begin to tighten, according to a recent survey of property fund managers by Atchison Consultants for the Property Funds Association (PFA).   Save one year, the Australian property market has generated a return of 9% to 10% annually since 1997.   Atchison Consultants, which surveyed 27 fund managers and the 66 unlisted property funds they manage, found that returns turned negative for these funds in 2009. Volatility of returns was attributed to the capital return component, which has fluctuated between -12.4% and +11.8% annually.