According to new data published by the Australian Bureau of Statistics (ABS), it can be seeing that Queensland’s population is projected to reach 5 million by May which is a great growth. This strong growth is likely to be translated to a stronger demand for property for sure.
Robert Honeycombe, chairman of the Real Estate Institute of Queensland (REIQ), said Queensland’s property market and the wider economy would benefit from such strong population growth. Last year, $54 billion of Queensland residential real estate was bought and sold which is appointing to our popularity means demand for housing is growing and this is good news for some of our weaker markets such as the inner Brisbane apartment market and regional Queensland. Besides, it could be knowledge that there were pockets where housing supply is tight. Population growth is placing pressure on markets like the Sunshine Coast and Gold Coast, where prices are rising steadily, and vacancy rates are at historic lows. Moreover, the latest ABS data revealed that 12,000 of Queensland’s 19,000 net internal migrants were from New South Wales. Apparently, Queensland real estate offers great value, and that is why it underpins the state’s economy. When real estate performs well, everyone benefits. Source: REIQ http://www.reiq.com/ MPA – Mortgage Professional Australia www.mpamagazine.com.au
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Previously we have mentioned about starting from 1 July 2018, if you have 20 or more employees, you'll need to use Single Touch Payroll-enabled software to report your tax and super information to ATO.
Click the link below to find out more about Single Touch Payroll: www.ato.gov.au/Business/Single-Touch-Payroll/About-Single-Touch-Payroll/ Have you ever had the situation of when you arrived at the property on moving day, and you discover things were not up to scratch. Windows were not spotless, and the floor could be cleaner from sweep.
In this situation, you might want to know what recourse or options they had at their disposal to remedy things at the seller’s expense. But please bear in mind, there was nothing could be done. Under the terms of a standard contract of sale, the seller is required to hand over the property on settlement day in the same condition it was in on the day of sale (barring the usual wear and tear). In many cases buyers are coming from a rental situation so they are very used to being put under heavy scrutiny by the managing agent on the condition/cleanliness. But there is no such requirement under a sale contract. A good tip for buyers is to document the state of the property on the day the contract is signed. This can also be further supported during the building and pest inspection by being a little more thorough and taking a closer look at things like: all lights work, the split system air conditioning unit and anything else that is coming with the property. If during this process you are not satisfied with the working order or general cleanliness this is the best time to raise them with the agent. It should be noted cleanliness does not form part of the building and pest discussion but raising it here may alert the sellers to it being a potential issue. Buyers should exercise their right to inspect the property the day before settlement to ensure the condition of the property is as expected. Also, check that all fixtures and fittings that are included in the contract have been left in the property. If there is an issue at this inspection settlement can be potentially delayed. Source: REIQ |
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