THE sale of a two-level “super penthouse” for $4.25 million has broken the record for Caloundra apartment prices. Keep Reading →
SEPTEMBER has become the best month for Queensland building approvals in more than four years, with 1834 private houses given the go-ahead. Keep Reading →
The Reserve Bank is in a position to cut interest rates again if it needs to, the Reserve Bank says.
Low interest rates were having their desired effect, driving asset prices higher and stimulating the economy, deputy governor Philip Lowe says. Keep Reading →
AUCTIONS are well and truly in favour with sellers with the number of properties going under the hammer leaping ahead.
According to the latest figures from CoreLogic RP Data there has been 21.7 per cent more auctions this year than last year. Keep Reading →
AUSTRALIA is home to the second best retirement savings system in the world.
The increase to employees’ compulsory superannuation payments and pension rises have helped the nation leap ahead of the Netherlands and take out second position in the Melbourne Mercer Global Pension Index. Keep Reading →
THE national property market has shifted in favour of buyers giving them more power to negotiate a better deal. Keep Reading →
Almost $2 billion worth of credit applications in the past year were flagged as potential fraud risks, with identity theft fast becoming the modus operandi for fraudsters. Keep Reading →
Your superannuation is one of the most important, not to mention tax efficient, ways to save for the most rewarding stage of your life – retirement. Unfortunately, almost half of Australians aged between 45 and 64 do not feel confident they have adequate funds to do what they want in retirement. Having the right plans in place to manage and grow your super can make a significant difference to your retirement goals. Keep Reading →
Days are warming, flowers are blossoming and if you’re looking to buy a home, figures show you’re more likely to bid at auctions than ever before. Keep Reading →
Changes to Victorian legislation will clarify what information buyers are entitled to receive about their new property in the sales contract.
Currently, under section 32 of the Sale of Land Act, sellers are required to provide buyers with a statement outlining certain issues which might affect the value of their new purchase.
Under the new laws, section 32 would be updated to provide more guidance to vendors, buyers and solicitors as to what the contract must include.
Firstly, the scope of planning information has been clarified, with specific warnings removed and replaced with a general requirement to disclose any notices, orders or declarations relating to planning regimes.
The rules have also been tightened so that only government notices and approved proposals currently and directly affecting the land require disclosure.
Vendors of strata property will have more flexibility as to the types of owners’ corporation information they provide.
In addition, vendors will only be required to disclose which essential services are not connected to the property, rather than providing a definitive list of all connections and service providers.
Finally, vendors will be allowed to provide a copy of the Register Search Statement and related documents, rather than a Certificate of Title.
Buyers will also be provided with a due diligence checklist, by either the seller or the seller’s agent.
The details of this checklist are currently being finalised by Consumer Affairs.