Foreign buyer crackdown

Current as of December 2015 The Australian Tax Office (ATO) has ramped up its efforts to hunt down foreign buyers of Australian real estate, with the employment of 50 compliance officers who will investigate potential breaches of the law by cross checking the records of approximately 11 million people to find illegal owners. The ATO is responsible for overseeing foreign … Read More

Banks tightening up on investment loans

Current as of August 2015   Over the past 2 months, Australia’s largest banks have all tightened up on loans to investors. This is off the back of APRA’s (Australian Prudential Regulatory Authority) restrictions on the major banks to limit their lending to property investors (as opposed to owner occupiers) at 10% growth per annum – they have been growing … Read More

WHAT TO BEWARE OF IN A HOT PROPERTY MARKET

Current as of May 2015 Over the past 12 months, you have probably read and heard about the hot property market, with unprecedented auction clearance rates and large increases in prices. This can lead to some problems if you have bought a property and you intended to borrow the money from the bank to fund the purchase. We have heard … Read More

INTEREST RATES − HOW LOW CAN THEY GO?

Current as of May 2015 This month’s announcement by the RBA to cut interest rates to historically low levels, has seen mixed reactions from Australia’s lenders, with some passing on the full rate cut, whilst others only some. While it is in our nature to all try to forecast where we think rates are going to go from here, it … Read More