The Reserve Bank of Australia has announced the cash rate is on hold at 2.50% p.a., making this the eighth month with no change.

 

利率继续保持八个月来低利息不变.

Read more

据2014年03月19日东方财富网报道,如今,许多中国人选择在澳大利亚投资房地产(行情专区)。据香港《东方日报》3月18日报道,单是上个财政年度,中国人已在澳大利亚房地产市场投资了共约420亿港元(约合人民币334.70亿元)。澳大利亚政府担忧外国投资会不断推高当地楼价,让本国人难以下手购房,也会让楼市供不应求,故近日重新审查相关法律,以决定是否修法,限制外国人投资。

澳大利亚广播公司引述投资银行瑞信近日公布的报告指,中国人近年热衷于到澳大利亚投资房地产,虽然只容许购买新屋,但全澳有多达12%的新建房屋被中国人买下。其中悉尼和墨尔本吸引最多中国人投资,分别有18%及14%的新屋被中国人买下,有人甚至一出手便买下整幢公寓大楼。

报告还预计,在2020年前,中国投资者将注入440亿澳元(约合人民币2470.16亿元)购买澳大利亚房产。报告指,中国投资者正成为“边缘购买者”,即愿意较大部分人出高价购买房地产,因而令房价不断上升。

身兼澳大利亚政府房屋经济委员会主席的自由党议员奥德维尔(kelly o’dwyer)表示,委员会最初允许外国人投资房屋,旨在增加当地房屋供应,以及增加澳大利亚建筑业的就业机会。为避免推高当地楼价,外国投资者被限定只准购买新建房屋。但新建房屋若被买下后一直空置,就会造成市场上供应短缺,外国投资就无法发挥短期内增加房屋供应的作用。

奥德维尔指出,政府将重新审查有关法例,评估当地目前的房地产情况,包括调查新建房屋的入住率等,以判断目前法例是否有违当局初衷。劳工运动领袖索顿对重审法例表示欢迎,称当局除调查外资是否推高房价外,更需确保澳大利亚人能成功置业。

一下为原文:

chinese property investment to be examined as house of economics committee reviews foreign investment laws

by finance reporters rebecca hyam and michael janda

dated: 17 mar 2014, 5:09pm aedt

with chinese investors spending almost $6 billion inAustralia’s real estate market last financial year, the federal parliament’s house economics committee is examining the laws governing foreign investment.

australia has become among the most popular propertyinvestment destinations for chinese nationals, who are estimated by somefinancial institutions to be purchasing about 12 per cent of new homes.

sydney and melbourne attract the most interest, with some apartment blocks in those cities 100 per cent owned and occupied by chinese nationals.

a credit Suisse report estimated that 18 per cent of newhomes in sydney and 14 per cent in melbourne are being bought by chinese buyers, with up to $44 billion of investment expected in the seven years to 2020.

liberal mp kelly o’dwyer is chairing the house economics committee and told radio national breakfast that occupancy will be a key issuefor the investigation.

“i think what there’s concern about is whether or not apartments are being occupied,” she said.

“so whether or not it’s fulfilling the original mandateto provide additional dwellings that can be purchased, in the end, by other australian investors and home owners.”

most foreign buyers are limited to purchasing newly built dwellings, with the policy aimed at ensuring overseas money adds to australia’s housing stock and does not push up prices for locals.

however, if many of the new properties are left vacant, then extra housing is not available on the market and therefore foreign investment does not add to supply in the short term.

the Credit Suisse report also found Chinese buyers are becoming the “marginal purchasers” – that is the people willing topay more than most, consequently pushing housing market price expectations upwards. small part of the market

however, the chief executive of real estate analysis firm rp data, graham mirabito, says there are plenty of willing local purchasers at auctions and in private treaty negotiations and they are a much bigger factordriving prices up.

“$4 billion or $6 billion of chinese investment in australia in a market that is around $250 billion worth of property got soldlast year,” he told the abc.

“whilst it is significant – around 2 per cent if youtake those numbers – if you have a look at the amount of investors in themarket, just australian investors in the market, nearly 40 per cent of the newactivity that’s currently going on the moment is for investors.”

ms o’dwyer says the original mandate for foreign investmentin residential real estate was to increase dwelling stocks and add jobs in the australian construction industry, and the inquiry will determine whether those aims are still being achieved.

audio: kelly o’dwyer speaks to rn breakfast (breakfast)

“the reserve bank governor made some comments in therecent parliamentary oversight hearing of the economics committee, where hesaid all foreign investment does have an effect on prices,” she said.

“we want to know though whether or not the current lawsand the current framework is being properly adhered to and whether it is atruly distorting impact.”

the opposition leader bill shorten says he welcomes aninquiry into foreign investment rules related to residential housing.

“on something as hot button as housing we need to makesure that housing is not being – the price is not being forced up for purelyjust investment reasons and, rather, there should be some priority given tomaking sure that the middle class of australia can be able to afford to enterthe housing market,” he told reporters.

“i’m never concerned by people buying houses in australia to live in them. we need to make sure that housing prices aren’t thephenomena of purely tax policy or other economic priorities.”

mr. mirabito says the most useful change would be data collection by firb from real estate agents, both to ensure compliance with the existing investment rules and to give a more detailed understanding of who is buying how much.

“there’s been a lack of information and transparency around this for quite some time, and we need to have some reliable data to makeinformed decisions,” he said.

Read more

Friday 28th March 2014.

as a government review of foreign investment in property gets underway, a leading real estate body has challenged the idea that non-australian buyers are pushing up home prices.

the australian parliament’s standing committee for economics recently launched an investigation into whether foreign buyers are inflating prices and locking locals out of the market.

however, the Real estate institute of new south wales (reinsw) said this focus was “misguided”, arguing poor planning and tax policies were inflating prices.

“the fact the government and the media are pointing the finger at foreign investors as the primary reason for increases in property prices and the affordable housing shortage is flawed,” said reinsw president malcolm gunning.

“the reason we have a shortage of property in nsw is a convoluted planning system and a tax system that places an unfair burden on property.”

in his view, “clunky” planning laws were blocking an increase in dwelling construction.

meanwhile, heavy taxes on property sales and the elimination of first home buyer incentives were holding back australians in the property market.

he said foreign investors were a boon to jobs and economic growth.

“now is not the time to discourage foreign investment. the inquiry will find that foreign investors help our economy,” he said.

“they support the creation of jobs in the construction industry and other areas like retail.”

 

Read more

selling properties ‘off the plan’ can be quite different to selling other types of properties, especially when multiple agents have been contracted for the same development.


despite the extra complexities, most sales agents who market ‘off the plan’ properties are professional and lawful. however, fair trading has recently experienced a spike in consumer complaints about these types of sales.
if you are involved in ‘off the plan’ sales, keep in mind that that you are not allowed to:

  • advertise a property that is less expensive than other similar properties, if the advertised property is no longer available;
  • indicate a price range for a property if the lower end of the range is significantly less than the value of the property;
  • hold on to an expression of interest payment if the customer is not successful in purchasing the property they made the payment for; or
  • apply high pressure tactics on customers to purchase another, more expensive property, if the property they are interested in is no longer available.

if you have accepted expression of interest payments, make sure you stay informed about whether the properties will be sold to your customers or someone else. if a property is sold to someone else, you must let your customers know as soon as you can and return their expression of interest payments immediately.
when you are successful in selling an ‘off the plan’ property, you should inform any other agencies that have been marketing the property so they can tell their customers and return their expression of interest payments.

Read more

after losing out on a listing, a victorian agent attempted to sabotage the auction by trash talking the property to potential buyers – but he picked the wrong person.
eric cohen, selling principal of family-owned cohen real estate in mckinnon melbourne was fined $5,000 by consumer affairs for unprofessional conduct earlier this month.
in a hearing at the victorian civil and administrative tribunal (vcat), evidence was presented that mr. cohen had appraised the mckinnon property but was not appointed to auction it.


however, mr. cohen attended the auction and made “disparaging comments about water leakage or seepage into the garage” to potential buyers – unaware he was speaking to the vendor’s daughter-in-law.
the vendor’s son later lodged a complaint with consumer affairs victoria, which took the matter to the tribunal.
craig williamson, director of buxton real estate bentleigh, said his team was the selling party to take the property to auction.
“we didn’t know about any of this until after the auction, when the family went to consumer affairs themselves after the incident,” mr williamson told real estate business.
“we were stunned because we knew what situation the sellers were in. they really needed to sell this property as a matter of urgency; he knew that and still tried to undermine the selling process.”
according to mr. williamson, mr. cohen is a very active agent who regularly attends open homes and auctions of his competitors.
“it makes you wonder if he’s ever done this sort of thing before. he walked up to a complete stranger and tried to steer them off the property, it just so happened to be a family member this time,” mr. williamson said.
luckily on the day, mr. williamson said they managed to sell the property and get a good price for the vendor.
the tribunal ruled that mr. cohen had breached the estate agents (professional conduct) regulations 2008 by engaging in conduct that was either unprofessional or detrimental to the reputation or interests of the estate agency industry.

Read more

two unlicensed agents have been fined almost $30,000 by the supreme court after their rent-to-buy scheme was foiled by consumer protection.

the western australian scheme was conducted by patricia and bryan susilo, who on 27 february 2014 admitted to their misleading and deceptive conduct.

ms. susilo further admitted to operating as a real estate agent without a licence.

between late 2010 and early 2013, consumer protection alleged that deceptive statements from the company were used to lure unwary investors.

such statements included: “own my home”, which gives the impression the prospective buyer in these schemes would get either sole or joint ownership of the homes after signing the contract, which was not the case; “no banks needed” and “stuff the banks – move in today”, which consumer protection claimed suggests buyers could purchase the home without a bank loan, when the promoters had no reasonable grounds to make these statements; “we do not charge commission or fees”, which was misleading since the promoters derived revenue from the arrangement; and “we are part of a group of real estate investors”, which was false.

in addition, figures related to the weekly cost to prospective buyers did not accurately reflect the true total cost required to eventually own the property.

commissioner for consumer protection anne driscoll said this case highlighted the dangers of people getting involved in these complex arrangements.

“it would appear from our investigations into these rent-to-buy property schemes that the prospective buyers are at great risk of losing their money and sellers are locked into a fixed sale price for the duration of the contract,” ms. driscoll said.

“the schemes target people who are desperate and find it difficult to get finance to purchase a home, as well as vendors who are having difficulty selling their homes.

“those who may be contemplating taking part in these schemes should think very carefully and get expert financial and legal advice before signing any contracts. They should treat any claims being made by promoters with scepticism and check to make sure information being provided by the promoter is accurate.”

ms. driscoll warned other promoters of these types of schemes currently operating without a licence that they too could face prosecution and similar penalties.

Read more

the reserve bank of australia has announced the outcome of its monthly board meeting.

the central bank today opted to keep the official cash rate on hold at 2.5 per cent.

this decision came as no surprise, with the board previously indicating it expects a “period of stability” in interest rates.

town & country real estate 理为德地产 mr. peter detong 童 said investors would be happy with the effects of current monetary policy settings on the domestic economy, with a strong property market now driving increased investment in dwelling construction.

“more housing market activity has translated to greater developer confidence and a consistent upwards trend in new building approvals,” peter said.

“auction clearance rates have consistently been around the high 70 per cent mark since mid-february 2014 and mortgage demand, as measured by activity across the market valuation platforms, was at record daily averages during February,” according to mr. peter detong 童.

“as long as mortgage rates remain low we would expect housing market conditions to remain in positive growth territory, at least in trend terms,” he added.

today’s decision means the cash rate has now remained unchanged at 2.5 per cent since August of last year.

mr. peter detong 童 said this prolonged period of interest rate stability has helped boost homeowner and buyer confidence and caused lenders to compete with one another with record low interest rates.

with the cash rate now likely to remain unchanged for some months and lenders continuing to compete on price, mr. peter detong 童 predicts the property market will continue its recent strong run.

“in the past several months, homeowners have enjoyed the lowest cash rate of this generation and with lenders now dropping fixed interest rate to 20-year lows, there’s no reason confidence shouldn’t continue to build for homeowners and buyers,” he said.

according to mr. peter detong 童, enquiries about fixed rates have remained high so far this year, accounting for 37 per cent of all enquiries at Loan market, compared to 24 per cent last year.

Read more

one of the big benefits of building a new home is that they are more energy efficient, which means you can enjoy big ongoing savings on your running costs.
while all new homes must meet a minimum level of energy efficiency under the building code of australia, some builders are now offering 7-star and 8-star energy efficient homes – and it doesn’t mean you have to add unnecessary expense, or sacrifice the look and feel of a traditional family home.
constructing an 8-star home will generally only add around 3.6% to the total cost of your build, but it could potentially save you more than 40% in heating and cooling costs. You will also have a more comfortable lifestyle, with a home that is warmer in winter and cooler in summer.
if you’re renovating an older home, it’s also possible to retro-fit many energy efficient features, such as ceiling insulation, water-efficient shower heads, and led or compact fluorescent lights.
whether you’re building new or wanting to make your existing home a little greener, here are five simple ways to make your place more efficient:
1. make sure your home is well insulated:
insulating the ceiling will help reduce the amount of heat entering your home when it’s hot, and trap the warmth inside when it’s cold.
there are many insulation options to choose from depending on your circumstances or preferences. Some of the most popular choices are wool, loose fill, reflective foil and batts.
glass fibre batts are an environmentally friendly option because they’re made from 80% recycled material. You can further reduce heat build-up in the ceiling cavity by installing a whirly bird on the roof.
2. ensure you have cross ventilation:
don’t just open one window or door. a house will cool down more quickly if the airflow can enter at one point and exit at another.
the best cross ventilation is achieved by opening windows or doors on opposite sides of your home, so the breeze can flow freely. In new homes, higher ceilings, wide entry halls, and sliding stacker doors or bi-folds also provide a greater volume of space for air to circulate.
3. include plenty of ceiling fans:
it’s a good idea to install ceiling fans in your living room, dining room and each bedroom, as they are much cheaper to run than air conditioners. depending on what electricity tariff you’re on, the running cost of a fan is around two cents per hour compared to 52 cents per hour for an air conditioner*.
4. install efficient fittings:
australia’s water efficiency labelling and standards (wels) scheme makes it easy to compare the water efficiency of different products.
when choosing your toilet, appliances, showerheads, and mixers, look for fittings that have a high wels rating. a 3-star rated showerhead only uses around 6-7 litres of water per minute, while regular showerheads can use up to 25 litres per minute.
light fittings should also be compact fluorescent lamps or leds.
5. reduce exposure to the sun:
an easy way to reduce heat intrusion on the western side of your home is to install an exterior shade structure. If you are building a new home, another option worth considering is extended eaves.
homes should also be correctly oriented on the block to minimise sun from the east and west.

*source:
ergon energy’s ‘appliance running cost calculator’ at www.ergon.com.au
**source:
the federal government’s water efficiency labelling and standards (wels) scheme at www.waterrating.gov.au

Read more

 

what a roller coaster it has been – you have gone to loads of open for inspections and finally have found ‘the one’, the dream home. And now comes the formal stuff – the legal part of the process, where you actually buy or sell the property.
it is wise for both parties – the buyer and the seller – to engage a conveyancer to navigate this process, as it needs a bit of a legal eagle to decipher the jargon. you don’t legally have to engage a conveyance, but knowing the ins and outs of property agreements can be quite hard for the layman.
both buyers and sellers will be asked by the real estate agent to provide contact details of your conveyancer for the sales and purchase agreement, so it is best to do your homework upfront and have one already chosen.

women signing contracts

what is conveyancing?
conveyancing is the process of transferring ownership of a legal title of land (property) from one person or entity to another.
a typical conveyancing transaction consists of three stages:
• before contract
• before completion
• after completion
what is a conveyancer?
a conveyancer is a licensed and qualified professional whose job it is to provide advice and information about the sale of a property, prepare the documentation and conduct the settlement process.
conveyancers don’t necessarily have to be lawyers but solicitors often undertake this work.
the most common reasons you would engage a conveyancer is when you are:
• buying or selling a property
• subdividing land
• updating a title (i.e. registering a death)
• registering, changing or removing an easement
what a conveyancer does
for the buyer – a conveyancer will:
• reepare, clarify and lodge legal documents – e.g. contract of sale, memorandum of transfer
• research the property and its certificate of title – check for easements, type of title and any other information that needs addressing
• put the deposit money in a trust account
• calculate the adjustment of rates and taxes
• settle the property – act on your behalf, advise you when the property is settled, contact your bank or financial institution on when final payments are being made
• represent your interest with a vendor or their agent
for the seller – a conveyance will:
• complete and ensure the legal documents are all sorted
• represent you and respond to requests from the buyer – for example, request to extend dates, title questions, etc

woman man signing contract real estate
 how to find a conveyancer

as with most professions, not all conveyancers are equal. Just as you would interview prospective real estate agents to sell your house, you should also go through the same process with conveyancers.
as we all know, the best referral is through people you know, so ask around and see if any of your friends and family have used a good conveyancer. If you have no joy here, look online, ask your real estate agent or other professionals you trust, like an accountant or lawyer.
once you have your list of prospective conveyancers, give them a call and ask a few questions (see below) to find one you’re comfortable with, and one that meets your purchasing or selling needs. Some conveyancers specialise in different types of real estate, for example, apartments, cross leases, subdivisions and so on.
when you have found a conveyancer, do a background check to ensure they are legally allowed to carry out the work and have no complaints against them.
questions to ask?
• are you a member of the Australian Institute of Conveyancers?
• what types of property do you mainly specialise in?
• what will it cost – what are your fees and charges? what fees, etc, will I have to pay at settlement? Are there any hidden costs?
• how will you communicate with me and how often?
• on settlement day, what time frames are we looking at? (this is important if you are arranging movers and other parties)

Read more

1. constantly reducing the price, little by littlewhen prospective buyers see a price dropping regularly it spells desperation. they’ll probably wait it out until the price gets even lower.lower prices can be a lure for buyers, but remember that price does communicate value more meaningfully than raw dollars. price signals quality or workmanship, quality of life, and much more. don’t undersell your property just to get rid of it. it rarely works.the key is to price right for the market to begin with. research your suburb and similar homes. look at recent sales and trend data. talk to your local agent about the history of the area and how it’s currently performing – no holds barred.

2. cocusing on cost rather than quality

to get great results (and speedy ones, if that’s what you need), you should hire a top real estate agent.

ask your friends, family and colleagues who they’d suggest and who they’ve used. jump online, explore their website, blog and any reviews or recommendations from clients.

look for an agent who you can communicate with, who is prepared to go that extra mile for you, who has drive, commitment and will guide you through the selling process at a comfortable pace.

focus on quality, not dollars, as cheap isn’t always best. what matters is what’s best for you.

3. waiting for the market to improve

if the market isn’t so great in your location, don’t hold your breath.

there are hundreds of home owners entering the market each and every day. many aren’t in a particular hurry to sell, they’re just starting their ‘conversation’ with prospective buyers.

you’ll always have competitors, so if you want and need to sell, do it now and do it with care and conviction.

who says the market is going to better in the next year or two anyway?

if you’re ready, go for it, with smarts.

4. listing before your property’s dressed

a fatal misstep is to present your place to buyers before it’s been cleaned, coiffed and spruced.

photos of your property shouldn’t make it online unless they’re showing it off to best (but not misleading) effect. even if you update them later, the damage has been done and the photos will still be discoverable online for the nosy.

staging your home can make an enormous difference to the amount you end up selling it for, and how quickly it sells.

touch up any areas in the property that are showing wear and tear and get the garden regenerated, especially in the front.

consider hiring a professional stager to help you out. this doesn’t have to be expensive.

5. dismissing the first offer

a common mistake for owners, especially those who really need the highest possible sale price, is to turn down the first offer.

there’s a saying in real estate: ‘the first offer is the best offer’. it really does seem to be true most of the time. certainly, your first offer is as worthy of consideration as any.

you will get a lot of lookers in the first couple of weeks your property is on the market. after that it can be challenging to sustain the momentum.

if an offer comes along during the first week or two, it’s tempting to turn it down, thinking the inspection rate will stay the same and interest will only grow. it rarely does, so give that first bite its due.

6. agreeing to too many strings

if you’re pressed to sell, you’re inclined to compromise on price, settlement dates and the like.

there’s nothing wrong with adjusting your plans and expectations to help expedite a sale, but watch out for buyers asking too much in the way of compromise.

if you’re asked to add numerous contigencies, such as waiting until the buyers own home is sold, be wary. your buyer might be totally trustworthy, but you’ll relying on a lot of variables here, and it doesn’t take much to sink your sale. then you’ll be starting from scratch, only with more costs & more stress.

Read more