An FYI on the OFT and the REIQ
EVERYONE loves a good acronym – unless its EOFY (end of financial year) and you have to pay the ATO
Seller Disclosure reform, debunked
Writing a column every week for the best part of a decade, I will admit that sometimes
“Free” rarely ends up that way
There’s nothing ever quite so expensive as a job that’s done for free, poorly
When in doubt, seek advice first – NOT last.
In stark contrast to NSW, QLD is one of the few jurisdictions in Australia where a conveyancer
Moving in with the Government
Budget Week! Exciting for some (and I know some accountants that watch it unfold like its Eurovision
The “Australian property market” back to fiction, not fact
Very rarely in history has there been an “Australian property market”
QCAT – When the gloves come off
I like to think that in most situations, even in conflict,
GST – the $100,000 question
While this column has long been dedicated to residential real estate
The Kind of Cut We Can Get Behind
By the time we got to Tuesday this week there were no prizes for guessing the right answer
Ban on Foreign Buyers all words no wallop
As housing affordability and availability remains (as ever) a hot topic
Land prices up, but can’t keep up with build costs
We’re all getting pretty used to paying more than we used to.
More Chocolate, More Changes…
Get Ready for More Changes
Too much chocolate last week, a day of remembrance yesterday
Housing High on the List at Poll Time
As you read this article on election day, hopefully you have already had the opportunity to beat
On with the Show
I don’t know if anyone else feels the same, but its nice to have fewer election signs
Sell Now, Pay Later?
“Buy Now, Pay Later” (BNPL) needs no introduction at this point, as Afterpay, Zippay, Humm
Another Cut, now what to do with the fat?
It was a pretty safe bet in the lead up, but the RBA has indeed pulled the trigger on another rate cut
Putting your hand up for complications
Just because you know you want to buy a property, doesn’t always mean you know HOW
Wet weather puts a dampener on our brand, so shine when you can
While our economy has certainly expanded well and truly beyond the traditional tourism hub
Don’t forget the paperwork!
There are lots of physical things you should do when you put your property up for sale
Make the right changes, and make them known
We’re really rushing towards Christmas now, a fact that seems even more unreal
Showing Value in a Digital World
I felt a bit like I filled the Millennial bingo card this week
Vacant or Tenanted, That is the Question
Any time you have a property coming to the end of its lease and an owner thinking of selling
What happens Next?
A less than thrilling topic but one that came across my desk this week once again
The Big Race and the Winners and Losers
Its been huge week this week, and not just for those that overindulged at Melbourne Cup,
A Change (in Government) as good as a holiday?
Last weekend saw the Liberal National Party turn around almost a decade of Labour leadership in QLD
The countdown is on
Its November next week. Depending on where you sit, this is either exciting or terrifying
Keep it simple to come out on top
When it comes to winning the keys in a competitive buying environment
Not all budgets are alike
When it comes to finance, even if two properties are nominally worth the same
Why your friendly neighbourhood agent is often the best.
Real estate agents, as a whole, don’t have the best rep(utation) out there.
Negative gearing a positive for housing
It seems to pop up every election cycle but this time the topic of negative gearing
Getting your start in Real Estate
Plenty of column inches have been dedicated to making your first steps in property ownership
Getting the Price Right on sale
Talking things through with a new client this week,
Big difference between being for sale and FOR SALE
There is a certain allure to selling off-market
Commercial vs residential property investment – where to start
With the residential property market continuing to reflect strong prices
Confusing Apples and Lemons can leave a sour taste
I find it eternally interesting how facts (which after all are “the facts” and should be pretty
There are more deals when there is profit to be had
“Always leave a little salt on the bread” might be an odd turn of phrase
Closer than ever, but the Tyranny of Distance can still be felt in Property
Growing homes and families
Kids are expensive. I am sure its not a surprise to anyone even vaguely related
Coming in over the top a foreign concept in QLD
“I see its under contract….what do I have to do to come over the top and get it?”
You can….but you probably shouldn’t.
When selling a property, there is always a debate over what works should be completed
Get it in writing!
Doesn’t a handshake mean anything any more?
Quality in Property – all about perspective
Meeting with a client earlier this week, we were discussing a pending sale
Look for in-fill to fill the land gap
I love filters. Not the kind in your fish tank or the ones on Snapchat
Building up a no brainer – but at who’s cost?
This week we saw the issue raised once again that the only solution for Cairns to grow,
Rental Reforms further the property divide
The QLD government has now passed into law further rental reforms which will impact all residential
Time to Sell – what’s next for the tenant?
The Prime Minister has copped it this week
Plenty of talk but not much delivered for housing in Budget
Cost of living was the phrase of the day in this week’s Budget delivery but for the majority of tenants
Standing Still on Rates a Balancing Act
In a move that was more or less expected (but probably welcome nonetheless),
Needs seldom dictate price
There are many things that impact on property prices.
An agent in your corner
After over a decade in real estate,
The REIQ comes to Town
With legislation rapidly changing and the property industry
What do we do when the land runs out?
This is far from the first time that the lack of land supply in Cairns
Getting Risk Right when Buying
Under a standard contract for houses and residential land in QLD
A Tale of 2 Buyers
I was reminded again this week,
Sighs, but no real relief
Another month and another decision on interest rates,
Placing your Trust in Property
There is a lot of trust when it comes to dealing with property
DIY Property Management? As risky as any Renos
We have all seen (for what feels like absolute decades now) an endless stream of renovation
Changing the conversation on building
Cairns may sprawl some 50km (or more) between Gordonvale and Palm Cove
Building and Pest Inspections- finding the right balance
Outside of the wild west of 2020 and 2021 when people (often interstate)
Back to School
Writing as i sit outside the principal's office waiting for my son's prep interview
A reminder to use the tools at hand
The internet is a wonderful (and sometimes terrible) thing
Posing myself the Question
“What would you do, Tom?” A question posed to me by a buyer this week
FOMO remains justified in housing supply stays low
We might barely be into the year but we are already seeing signs that FOMO is alive and well
Stamp Duty Needs an Overhaul
Originally slated to disappear all the way back in 2000 with the introduction of the GST
A glance at what’s to come
2 weeks into January I think we can officially say Happy New Year, 2024
A Wild end to 2023
Ordinarily I would share a Christmas message and yearly wrap up this week
Is less information, less confusing?
One of the more controversial elements of the Property Occupations Act
Its not done, til its done.
When it comes to ready-to-move-in properties
The Race to the Finish is ON
I’m semi-horrified that we have reached December of 2023.
Is Real Estate for you?
I had a call this week, as happens from time to time
RBA leaves a Melbourne Cup hangover to remember
13 remains an unlucky number for most, with the RBA choosing this week’s Melbourne Cup Day
Continuing Professional Development – its all in the name.
Real estate agents in Queensland operate under the Property Occupations Act (POA) of 2014
Going to market with Your Investment
The past month in our office has been characterised
Make the Most of your Time
A lot of things can change in life.
When being Dense is the Clever Option
This week I had the pleasure of attending 2 events focused on the growth of Cairns
Tiny Homes, Big Impact
While there might be marginal changes in vacancy rates from month to month
When Affordability is Tight
When it comes to affordability in property
Its all relative with Cash Flow
Is it cash flow positive or cash flow negative?
Apples aren't all the same in comparing houses
When buying a property – whether an investment, or home
New Rental Rules Worth Reading Up On
Another week, another round of legislative changes
Going cheap can be poor value when it comes to marketing your home
When selling your home or investment property, there are typically 2 main costs
Garden Week
When plans come together and the big project finally starts
The Question I Keep hearing
When will prices drop – be prepared they might not.
Serviceability, not service front of minds for banks
Its no secret that if you’re refinancing in 2023 you are going to have a very different experience
The Low-Down on Knock Downs
Cairns born and raised for the majority of my life, I did have a bit of a detour via Brisbane
Making a clean exit
When it comes to purchasing a property in Queensland
On behalf of Prudential Decision Making
With more time than I would have liked spent in hospital this week
When Seller's Remorse Kicks In
There is a common adage in real estate whereby your first offer is often your BEST offer
Old vs New
There is something to be said for a brand new home.
Politics gets in the way of Policy. Again.
In the distant past of 2021, the Labour federal government proposed a $10 billion affordable housing investment fund
A Solution to Housing? Neither Magic, nor Cheap
This week there has been much debate within State and Federal parliament regarding affordable and social housing
When Deposits Count
It might not seem very important when compared to the price
Making a First (home buyer) Move
Buying your first home is hard. No question.
Looks too good to be true? It probably is…
Lack of mobility holding back supply
REIQ back in Town
This week saw our local members of the REIQ (Real Estate Institute of Queensland) engage in our latest Zone Event
Going Digital with Property Transactions & PEXA
A little over a month ago, electronic settlements in QLD went from being a convenient alternative
Putting security on the housing wish list
Stone benchtops in the kitchen, his and hers sinks in the ensuite, and cameras on every corner?
Going cap in hand on rentals not the solution
This week the media has been astir with proposals before the QLD government calling for rental caps
The Benefits & Pitfalls of Refinancing
No excuses for missing marketing
Tight supply keeps prices in line
Taking a Risk for the Right Reward
Buying your First Home in 2023
Staying Safe
Staying Safe in your New Home
Furnished vs Unfurnished - Investing in Furniture
Including everything and the kitchen sink
Taking The Time
Taking The Time To Think About Contracts
Method to Beat the Madness
Find the right Method to Beat the Madness
Taxing Investors
Taxing Investors moves closer to Home
The Last Impression
When renting, the last impression can be more important than the first.
The Changing Market
In a changing market, look to rental yields for investment value
Downsizers Can be Winners
RBA Running out of Room on Rate Rises
Government Policy Taxing on Investors
Mark your Calendar for Changes
Taking a Breath to Evaluate
Hedging your Bets on Interest Rates
Proposed Rental Freezes Forget Economic Fundamentals
Interest rates put focus back on returns
Planning for Spring Success
Time Soon up for Periodic Leases
Rising Interest Rates Change the Equation, but not the Outcome
Two-for-One: Duplexes back in Vogue
Sharing the pain (and gain) in renting
Accommodation in a pinch, and not just long term
Limited Choice amidst High Demand
Apartments a Value Alternative
Putting Rate Rises In Perspective
Skin in the Game
Sharing Skin in the Game
Still a Compelling Argument
Paying Mortgage over Rent is still Compelling
Keeping it in Perspective
Unwelcome, but not Unexpected
A lot of interest in Interest Rates
Whether its next week or in June post Federal Election.....
Hopping into Easter
How good has it been to finally see restaurants packed, streets full of people and some real activity happening across the CBD and shops again?
A Helping Hand on to (or back on) the Property Ladder
Affordability and availability have become the two biggest factors
Marketing your property is still worth the extra effort
Love it or hate it, when you are buying property, the major property portals such as realestate.com.au and Domain are going to be your first ports of call, more times than not.
Invest in Functional Property Features
At the end of each lease term, a property owner can request for a comparative market analysis to be conducted to determine the appropriate rent level, and ensure they get the best market rate.
Supply and Demand Remains the Important Equation
When the discussion of property in Australia comes up and figures for growth are shared and compared
Competition is Key to Affordability (In Insurance)
Insurance.
Who Does What, When Things Go Wrong
The floods through southeast Queensland and northern New South Wales this last week have represented a huge impact in an area just starting to get past the majority of COVID impacts.
Leveraging Up
A few weeks ago, I handled a sale that for me ticked every box for the change in market we have seen over the past couple of years, and last 12 months in particular.
Interest(ing) Moves By The RBA
Last week the Reserve Bank of Australia (RBA) decided to hold the official interest rate at an historically low 0.1%
House prices through the roof?
Depends how high you were to start….
A mid-week break, but a busy start
Expect delays, but look positive
Get in early!
Welcome back readers!
A socially distanced, mask-wearing welcome but a welcome nonetheless as we enter a 2022 that is already doing its best to snare headlines.
Ladies and gentleman, this is just about it for the property market in 2021, as the very last properties go live this week before the much anticipated Christmas and New Year break.
A Final Rush to the Finish
And just like that, its December.
Time is of the Essence, seriously.
Much has been made in the media this week of a case of a young couple buying a home in Brisbane that, through apparently no fault of their own, forfeited a $75,000 deposit on their dream home.
Not the time to be cheeky
Think back 18 months ago (or near enough to it), when COVID first entered the Australian psyche, people were worried about what could happen next and the property market hit what felt like a full stop, with fears of a freefall.
Staying “Available” in a Hot Market
Is it still available?
Get your garden in gear
Outside of a fresh coat of paint and some modern lighting, there are few things you can do to your home that will do more to the value, for less of a budget than good gardening.
Farewell price tag?
If you are a buyer in this market, you might think (fairly!) that property, in particular the right property, is a rare commodity.
Time to be Alarmed
If you have an investment property in QLD, then no doubt you’re sick of hearing it by now...
What’s Your Motivation?
I had an interesting question posed to me this week – why should I sell, only to then pay more to get back into the market?
The Heat is On
Summer is well and truly upon us, with a very sneaky weather change from cool Cairns winter to scorching days almost overnight.
An outside perspective on Cairns
An inspection not to miss
If there is one inspection that remains critical for a buyer, even in a world where there’s a growing trend of buying sight-unseen – it’s the pre-settlement inspection.
Getting it Right the First Time
Entry Condition Reports – they’re not much fun to read, let alone write! But you know what’s even less fun?
Finding new benchmarks
What is the new price of your home?
We’ve dodged a bullet, but keep the vest on for now
If there was ever a time to be excited about empty streets and closed shopfronts it was earlier this week as Cairns entered its first lockdown since March & April last year.
Making the call before auction day
Price guides could offer a helping hand
“Terminating without Grounds” has good legs to stand on.
Rental Reform in QLD is once again a hot topic, particularly in light of the ongoing surges in the rental market and a seemingly never ending demand for housing.
Don’t mess around with multiple offers
“I don’t want to miss out again, I have been looking for 6 months and every time I find “the one” there is always a higher offer!”
Stamp Duty vs Land Tax
While its easy to say taxes are bad, they are an absolute necessity if we would like to keep the lights on, hospitals open, schools running and every other service we take for granted operating.
Moving fast to go slow
As the market continues to move, there is a lot more time going in to preparing a property for sale than there is in the actual active on-market sale process.
More Positives than Negatives for Investors
With a combination of both record low interest rates and rising rents, properties are increasingly offering a positive position from day one.
Something to get excited about
I have developed an absolute LOVE of what I do, that thankfully still gets me excited to come to work in the morning, and to finally click SEND on a proposal well after I should have probably gone home for the night.
When downsizing makes sense
In a market where tight housing supply is driving record prices across many suburbs but units continue to lag behind, a unique opportunity is emerging for those ready to “right size” from a full size house to an apartment in Cairns
Property and the Budget
On the housing front, more money has been put behind getting people into their first homes, with a further 10,000 places to be released per year for the successful First Home Loan Deposit Scheme.
A Big Welcome Back
Real Estate Institute of Queensland Zone events to resume in Cairns again
There is still reason to work at it
With buyers emotional in their purchases and FOMO running rampant, why wouldn’t you lean even more into ensuring your property tugs every one of those emotional heartstrings?
Getting the Edge in Renting
With tenancy applications flying thick and fast for virtually every reasonably priced property, what’s a tenant to do?
It's Worth Being Certain
When it comes to making (or receiving) an offer, the vast majority of contracts dealt with, will have some level of uncertainty attached to them by way of contract conditions.
A Week to Remember
HomeBuilder and JobKeeper to run dry
Something’s got to give
1% vacancy across long term rentals
The Difference a Year Makes
12 months and a week ago, the (real estate) world had the look of running into that same Post-GFC nightmare, and it looked SCARY.
Class is cancelled but real estate goes on
While this might be fun for kids getting a day home from school, for those selling their home (or just trying to get their properties to market), it can be a trying time!
The Countdown is on for Homebuilder
You have just 4 weeks to get the build contract finalised and ready!
As things change
Have another think about that one street over
A good market
Don't let the market be an excuse for not marketing
Buying off the plan
is becoming popular in Cairns
Property Management
A teaspoon of prevention
Changing your Home
but not your address
Back to work
with a brolly
Breathing Space
for homebuilder
As 2020 Wraps up
where to next?
Adapting to a Changing World
but at least its exciting!
Moving in the right direction
For Banks
not all money looks the same
Positive Signs Continue
expect to see more changes as QLD opens up
A contract under the tree for Christmas
time is well and truly running away from us, especially when it comes to property.
Make it personal
but don't take it personally
Land Ahoy
It's been just over 90 days since Homebuilder
When is the Value, not the Value?
replacement value and market value
Accessing Super
Not so Super for Some
Risks and Rewards
It's all down to timing
Time is of the essence
Literally
It's a changing world
but the market charges on
Move Quickly
but be prepared
Happy (?) New Financial Year
Turbulent past 6 months
Happy to call Cairns Home
Reminding ourselves why we make Cairns Home
Looking for Land?
You won't be the only one...
Going Hard and Fast
Buyers seem to be out in greater numbers
Balancing Supply & Demand
Property volumes are improving
Cautiously Optimistic
We've now seen the first relaxation of social distancing measures
Keeping balance when things go Topsy Turvy
Government has put forward a raft of proposed changes to residential tenancies
Taking the Air our of AirBnB
We are now seeing a reversal as AirBnB properties move back to long term rentals
Netflix & Declutter
Stuck at Home?
No Opens, but still Open for Business
what a difference a week can make
Keeping the Doors Open with Open Homes
Keeping the Doors Open with Open Homes
Adding Net Value
adding value with rennovations
Playing the Waiting Game
Made an offer on a property and have not heard back from the agent - don't panic!
That first step made a little easier
Federal Government’s First Home Buyer Deposit Guarantee scheme
Are you one of the 1%
1% Vacancy Rates being reported among property managers in Cairns
Rental Reform Requires Reflection
Proposed rental reforms to change the shape of property investment
Effective Advertising and Your Home
PROPERTY TALK
More money for your money
PROPERTY TALK