RBA rate cuts to ‘help economy’ could instead just boot the housing market. People who have borrowed high will breathe a sigh of relief at an announcement that should see them sitting pretty for at least three years.
Lending conditions are the strongest they have ever been, a good time to start thinking about your home renovation or new build design. Don’t hesitate to give one of our team a call to kick off your next project.
Stamp duty will be temporarily axed on new homes valued under $800,000 as part of a NSW government initiative to encourage more home building.
NSW Premier Gladys Berejiklian announced on Monday the state government will temporarily eliminate stamp duty for first-home buyers purchasing newly built homes valued up to $800,000 from August 1, with tapered discounts for properties valued up to $1 million.
As it stands, first-home buyers are exempt from paying stamp duty on newly built homes valued up to $650,000.
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A New South Wales region has recorded both the largest rise in housing values, as well as the biggest jump in home sales over the past twelve months, new data shows.
Illawarra, south of Sydney, came out on top in Corelogic’s regional market update, with Launceston in Tasmania showing the highest growth for units.