Rents vs wages – how do they compare by city?
By Graeme Salt Extract taken from realestate.com.au/insights In all of Australia’s capital cities, rents have outgrown wages. Perth has had the largest increase in rents relative to wages, with rents increasing by 80 percentage points more than wages. That increase has placed significant pressure on household budgets, as wages have not kept pace. The proportion […]
New loans for tech workers
By Graeme Salt Work is changing – and so are the people who can get special deals from the banks. In the past, professions such as lawyers, accountants and doctors received favourable treatment from banks. But now, one lender has thrown the door open to tech employees who work for: • Adobe Inc • Alphabet […]
When it comes to property, we need a Bex and a lie down.
This week saw a number of separate pieces of research which showed the future for the housing market. There has been much hand-wringing on the state of the property market – with Cotality’s national Home Value Index (HVI) dropping 0.4 per cent marking the largest month-on-month fall since December 2022. But we all need to […]
The easiest way to save your home deposit
By Graeme Salt Saving for a first home is already hard enough. So when a federal budget change appears to make some popular savings strategies less attractive, it is no surprise people are worried. Since the rent budget, concern has centred on young Australians who are using shares or exchange-traded funds (ETFs) to save for a […]
Mortgage for gig workers, casuals
By Graeme Salt Gig economy and casual employees can still get a mortgage – if they know where to go. Two surveys show how jobs have changed – with significant implications for getting a mortgage. In the past, banks have struggled to lend to would-be borrowers in more precarious positions such as these. But increasingly, […]
A Dickens of a property market
By Graeme Salt “It was the best of times, it was the worst of times” Charles Dickens A Tale of Two Cities The budget is already having a huge impact on the property market, with investors now focussing on new-builds thus giving owner occupiers less competition. This week, many of my clients have shown the […]
Are you a winner in this budget?
By Graeme Salt This budget really created winners and loser. It is a first step in tilting the balance in favour of younger, working Australians trying to buy their first home. For decades, the housing market has been geared in favour of older investors such as me. The budget will sweep away many of the […]
Super Budget Wins
By Graeme Salt Self-managed super funds (SMSF) may become the surprise winner in the budget, with investors emerging with relatively superior tax treatment. In the budget, Trusts will be subject to a 30 per cent tax rate. However, the Albanese government has left intact the ability of SMSF (itself a Trust) s to borrow – and […]
Is now a good time to buy?
By Graeme Salt This week I spoke to a client whose borrowing capacity has been reduced from $480k to $300k. Granted this client was looking to buy an investment property (and had been relying on negative gearing). But her experience is relevant to us all. The property market has been primed for a reset for […]
$250,000 less – that could be this budget’s impact on your borrowing capacity.
By Graeme Salt This week’s budget made a number of key announcements, one of which was to remove negative gearing benefits for newly purchased properties except for brand new properties. This difference between old and new will have a huge impact on your borrowing capacity due to the different way banks assess the impact of […]