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PMA Finance
07/03/2017
Following in the footsteps of policymakers in Vancouver, the Victorian government announced yesterday that it will introduce a 1% “Vacant Residential Property Tax” from January 1 next year, designed to raise revenue from investors who choose not to occupy or rent out a vacant dwelling. It will be based on the improved value of a taxable property, and will target homes around the inner and middle suburbs of Melbourne. For an investor with a vacant property worth $500,000, the tax […]
07/03/2017
House hunters who do not have a seven-figure budget have already been priced out of five Melbourne suburbs. And as house prices continue to climb, more home owners will come to grips with the idea that $1 million will not stretch far in this city. Big-ticketed suburbs such as Toorak and Hawthorn may have the most expensive houses, but it is the city’s smallest pockets with the highest entry prices. Last year, not a single a townhouse or house changed […]
06/03/2017
Philip Lowe has some high-powered backing if he leaves interest rates on hold Tuesday as widely expected. Days after the Reserve Bank of Australia governor signalled that rate cuts weren’t in the national interest amid record household debt, the securities regulator said it was looking at mortgage lending standards across the banking sector. The Organisation for Economic Co-operation & Development last week highlighted risks posed by Australian property and private debt. Sydney house prices have soared 73 per cent in […]
06/03/2017
Sentiment about the commercial property market has gone up with National Australia Bank’s (NAB’s) Commercial Property Index rising five points to +21 in the fourth quarter of last year. These results come from NAB’s Commercial Property Survey Q4 2016 which surveyed 250 panelists and put the index at its highest point since the survey began in 2010. These improvements over the fourth quarter were due to big gains in CBD hotels (up 34 points to +88) and small gains in […]
06/03/2017
With lenders increasingly out of sync with the RBA, it’s no wonder people are feeling jittery about interest rates. Since their failure to pass on the central bank’s 25 basis point cut to the official cash rate in August last year, many have been upping rates, with the result that the gap between the rate set by the RBA and interest rates offered by lenders is growing. The easiest way to protect yourself against the increasing costs is to factor […]