18 Bishop Court, Lawnton, Qld 450118 Bishop Court, Lawnton, Qld 4501

BUILT 2007, MANAGED & SOLD AT 2% BY LJ GILLAND REAL ESTATE

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propertymanagement #propertymanagers #propertymarketing #competitive #commission #win #win #relationship #happyvendor #happytenant #resultdriven #gratitudeattitude LindaandCarlos Debello Linda J.姬琳达珍 Gilland (Debello) Linda-Jane 姬琳达珍 Gilland(Debello)

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18 Bishop Court, Lawnton, Qld 4501 https://www.realestate.com.au/property-house-qld-lawnton-133738778

LJ Gilland Real Estate has been involved with the complete Lawnton Development as Investors ourselves since inception and we have had few tenants in 18 Bishop and for example, we have had the same tenant in place at 12 Bishop since new, achieving a great comparable rent. http://ljgrealestate.com.au/property/18-bishop-court-lawnton-qld-4501/

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Australia’s ‘watergate’: here’s what taxpayers need to know about water buybacks

 

Australia’s ‘watergate’: here’s what taxpayers need to know about water buybacks

In 2017, the then agriculture minister, Barnaby Joyce, signed off on an A$80 million purchase of a water entitlement from a company called Eastern Australia Agriculture.

The problem is that Energy Minister Angus Taylor used to be a director of Eastern Australia Agriculture – though he didn’t have a financial interest – and the company is a liberal party donor. What’s more, the value of the water purchased for A$80 million is under question.

Now, as the election looms, this issue has resurfaced. But why should taxpayers be concerned?

Water buybacks using an open tender were halted by the current government in 2015, even though this is the most cost-effective way to set aside water for the environment. Instead, the government pronounced that subsidies for irrigators were a better deal.

Until 2015, the government bought back most water using an open tender process, before it was replaced by a subsidy scheme for irrigation and occasional closed tenders.

The problem with the closed tender process is that it tends to lack transparency, which raises questions about how effectively the government is spending public money. And it’s hard to prove closed tenders deliver the most cost effective outcome.

The Murray-Darling Basin is a very productive agricultural zone and its rivers have been used to boost agricultural outputs through irrigation.

State governments spent much of the 20th century allocating this water to agricultural users. By the 1990s it was clear too much water was being extracted. This resulted in both harm to the river environment and potential reduced reliability for those with existing water rights.

Various attempts to rein in extractions were made around this time, but ultimately the Murray-Darling Basin Plan was adopted to deal with the problem.

In agreeing on the plan, the federal government committed to spending A$13 billion to reduce the amount of water being extracted from the Murray-Darling Basin. To accomplish this the government has two basic strategies.

One involves buying up existing rights for water use. The other hinges on using subsidies so farmers use less water when irrigating.

Reducing water extraction from the basin

The second approach of using subsidies is generally more politically appealing. This is because few farmers ever object to receiving a subsidy and the public has an affinity with the idea of “saving” water.

The problem, however, is that subsidies are a more costly way of returning water to the river system than simply buying back existing water rights. And so-called water savings are hard to measure how much water savings are a result of subsidies or some other factor.

This is why some analysts even claim subsidies are reducing the level of water available for the environment.

Buying back water rights is generally more cost-effective than providing subsidies. But a clear and transparant process still matters because water rights are not the same for everyone and it’s a complex process to determine their overall value.

Allocations and entitlements

First, most water users hold a legal right, known as an entitlement. Water entitlements represent the long-term amount of water that can be taken and used – subject to rain, of course.

Second, water allocations represent the amount of water currently available against a given entitlement – this is the water that is available now.

If a farmer owns an entitlement in the River Murray, chances are the annual allocation will be determined by how much water has flowed into upstream storages like Hume Dam, Dartmouth Dam or Lake Eildon.

Even then the allocation will vary, depending on which state issued the original entitlement. For instance, New South Wales water is generally allocated more aggressively. This means NSW entitlements tend to be less reliable in dry years than Victorian or South Australian entitlements.

If a farmer owns an entitlement where there are no upstream storages, as is the case with much of the Darling River system, then the allocation will vary depending on how much water is flowing in the river.

So what?

All of this means the amount of water that can actually be used for the environment when an entitlement passes to the government will depend heavily on the underlying characteristics of the water right.

Partly for this reason, water buybacks were historically conducted using an open tender process.

This meant the government would announce its willingness to buy water entitlements. Farmers would then notify the government about what entitlements they held and the price they were prepared to take.

Running an open tender allowed the government to assess the value for money of the different entitlements on offer at the time.

Water buybacks through open tender began seriously in about 2007 to 2008. This meant the price owners were prepared to sell for would be registered, and then the government would determine which offer provided the best value. Around 60% of all water now held for the environment by the Commonwealth was secured through open tenders.

As a general rule, a relatively high-reliability water entitlement was bought for about $2,000 per megalitre and this has become the metric for many in the market. But the current government halted this process in 2015.

Now, the government buys water through direct negotiation with water-entitlement holders.

The government justified ending open-tender buybacks on the basis that the water being secured was causing undue harm to rural and regional communities. And, instead, much more expensive subsidies would supposedly generate a better overall return.

This view is not universally shared. The receipts from openly tendered water entitlements were being used by many farmers to adjust their business, while still staying in the region.

Many rural communities continue to thrive, regardless of the strategy chosen to secure water for the environment. Subsidies also tend to favour particular irrigators rather than the community in general.

Having set aside the cheapest option of open-tender buybacks and declaring support for irrigation subsidies, the problem the government now faces is that it must explain why closed tenders persisted (albeit in isolated cases) and were signed off by Ministers as good value for money.

Closed tenders need not deliver a poor outcome for taxpayers. But it does mean the likelihood of establishing the best value for money is reduced, simply because there are fewer reference points.

And if it’s legitimate to overspend public money on irrigation infrastructure subsidies, the credibility of a supposedly cost-effective closed tender is also brought into question.

Economics and Head of School, University of South Australia

Disclosure statement

Professor Lin Crase is the South Australian branch president of the Australasian Agriculture and Resource Economics Society.

Partners

University of South Australia provides funding as a member of The Conversation AU.

http://theconversation.com/australias-watergate-heres-what-taxpayers-need-to-know-about-water-buybacks-115838

Posted in Australian Properties, Empowerment, Foreign Investment, HOME, infrastructure, Interest Rates & Global Economy, LANDLORDS, ljgrealestate, MAINTENANCE, Property Investment, Property Law, Property Management & Sales, QUEENSLAND, sino australia investment, TENANTS | Tagged | 1 Comment

Quarterly rents have increased across all capital cities, bar Sydney and Darwin.

Brisbane rents are starting to climb again, with Brisbane now having a median weekly rent of $436. This is an increase of 0.8 per cent over the past quarter, and 1.4 per cent over the past 12 months.

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At a glance:

  • CoreLogic has released its first Quarterly Rental Review for 2019, showing rents have risen by 1 per cent during the first three months of this year.
  • Sydney is the most expensive capital city to rent with a median weekly rent of $582 per week, while Perth is the cheapest at $385.
  • Quarterly rents have increased across all capital cities, bar Darwin and Sydney.

The first CoreLogic Quarterly Rental Review for 2019, which tracks median rents and rental yields across Australia, shows that national weekly rents have risen by 1 per cent during the first three months of the year.

“This seasonally strong first quarter has delivered the highest increase in weekly rents since the corresponding first quarter a year ago”, says Cameron Kusher, Research Analyst for CoreLogic. “Our regional housing markets are performing marginally better than the capital cities, many of which have been experiencing weaker rental…

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Southeast Queensland to enter lockdown TODAY, 31-7-2021 AT 4 PM as Brisbane school cluster grows

COVID-19 UPDATE – LOCKDOWN AS AT 4 PM TODAY

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Most of Southeast Queensland will enter a three-day lockown from 4pm today after health authorities reported six new cases linked to the Indooroopilly State High School (ISHS) cluster, including a teacher at another nearby school and a University of Queensland (UQ) medical student who is suspected to be the index case.

Deputy Premier Steven Miles said applications would be made to the Commonwealth Government for an assistance package similar to what has been seen in other locked-down parts of the country, with expectations for an announcement of the details tomorrow.

The lockdown will apply to the 11 local government areas (LGAs) that more recently have been subject to minor restrictions such as mask wearing requirements -Brisbane, Moreton Bay, Ipswich, Logan City, Redlands, Sunshine Coast, Noosa, Somerset, Lockyer Valley, Scenic Rim and the Gold Coast.

The Deputy Premier said even though the order begins at 4pm, people in those LGAs or…

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Is it worth buying property in Brisbane?

Check out this story I found: https://9now.nine.com.au/today/videos/latest/is-it-worth-buying-property-in-brisbane/ckrjx1ati001p0inl5avmv212

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It is time for state and federal governments to get rid of punitive stamp duty once and for all

It is time for state and federal governments to get rid of punitive stamp duty once and for all

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The Real Estate Institute of Australia says it welcomes the announcement by the leader of the Opposition that Labor will support the status quo on negative gearing and capital gains tax should it form government.

REIA President Adrian Kelly said the announcement provided much-needed certainty for households and small businesses as COVID-related lockdowns continue.

“Many mum-and-dad investors have borne the brunt of the rental eviction moratoriums and stepped up to provide social and affordable housing through this period,” Kelly said. “The vast majority ofproperty investorsare everyday Australians looking to provide for their own retirements, who are also instrumental in providing the rental accommodation that is needed by the 27% of Australians who rent their home.”

More than 70% of Australian property investors own only oneinvestment property, Kelly said.

“Continuing to support successful tax settings that encourage investment and has assisted investors throughout the COVID-19 pandemic is…

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REIA MEDIA RELEASE – PROPERTY MANAGERS TO HAVE A SAY IN STANDING UP AGAINST DOMESTIC VIOLENCE

PROPERTY MANAGERS TO HAVE A SAY IN STANDING UP AGAINST DOMESTIC VIOLENCE

The Real Estate Institute of Australia (REIA) is asking property managers to help them stand up against domestic violence by filling out a short three-question survey by 26 July 2021.

The results will be used to assist and support property managers so that they will be safer on the job.

REIA President, Adrian Kelly said these insights will be used to learn how Real Estate Institutes (REIs) can support agents encountering domestic violence matters in tenancies; and contribute to our advocacy to State and Federal Governments.

“Domestic violence can include tenants that are visibly distressed or physically harmed; damage to the property as well as other indicators like rent in arrears or noise complaints to the landlord.

“It is highly likely that from time to time there are instances of domestic violence that occur in rental properties that I manage within my own business and I am not aware of it.

“Because of this I’m pleased that the REIA will be doing some work in this space in order to help stamp out this clearly deplorable behaviour,” he said.

Mr Kelly said the REIA viewed the incentive as essential in protecting the property manager community who are often at the forefront of having to deal with unsafe situations.

“With both National Property Managers Day on 23 July 2021; and the National Women’s Summit in late July, now is an ideal time to get important views from our property managers working at the coalface.”

The Survey will be distributed via all REIA’s State and Territory Institutes from today and property managers wanting to get involved should contact their Institute direct.

This survey is anonymous and all data is used on a de-identified basis.

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Linda 姬琳达珍 and Carlos Debello (LREA)

LJ Gilland Real Estate Pty Ltd

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REIA MEDIA RELEASE – TIME TO AXE THE TAX TO ASSIST HOUSING AFFORDABILITY

TIME TO AXE THE TAX TO ASSIST HOUSING AFFORDABILITY

Real Estate Institute of Australia (REIA) has found the NHFIC report Stamp Duty: Benefits and Challenges solidifies what real estate agents already know: property taxation in the form of stamp or transfer duties and land tax is one of the largest barriers to housing affordability and consistently performing markets.

REIA president, Adrian Kelly said families across all the states and territories, except the ACT, are paying more stamp duty today than 20 years ago and that is time to get serious about stamp duty reform.

“Politicians cannot on one hand gripe about housing affordability; and then on the other say we need this income from home buyers and owners to fund public sector operations.

“Calls from the NSW Government as reported by the Australian today – with the Federal Governments to set up a productivity fund to incentivise stamp duty reform – is one sensible approach to make our Federation competitive and get this important reform going in earnest.

“REIA renews our call on the Council of Federal Financial Relations to take on board this issue seriously and nationally rather than just shift this responsibility off to States and Territories,” he said.

· Mr Kelly cautioned that the assumed alternative in the report – the introduction of a land tax – is not necessarily a panacea and that State Governments should reconsider their focus on taxing Australian homes and households to fund their coffers.

The report found that a household that bought a Sydney median priced house four times over the past 20 years would have paid more than 10 times the amount of duty than a household making only one purchase at the start of this period. Victoria has the largest effective rate of transfer duty on a median property at around 5.4% compared to 4.2% in 2002.

Mr Kelly added that whilst the report concludes that overall consumers are better off paying land tax than a transfer duty this needs to be done correctly and examined lessons learnt of indirect consequences.

“Experience in the ACT is that land tax has scared off investors from the market and significantly reduced the amount of private rentals available.

“So if you want rents to stabilise, a broad-based tax or even revising the GST then shared equally by all sectors of the economy would be the better replacement not unfairly taxing homes and households. Alternatively, an opt-in approach to the payment of stamp duty, where the user elects what to pay and when is another pragmatic approach. We congratulate NHFIC for leading the way on this conversation with evidence led research,” he concluded.

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Best Regards

Linda 姬琳达珍 and Carlos Debello (LREA)

LJ Gilland Real Estate Pty Ltd

Linda Debello LREA推荐书LJ Gilland房地产
http://ljgrealestate.com.au/testimonials/

Request FREE Rental Appraisal here!

"Your Local Property Management & Sales Specialists"

PO BOX 19
ZILLMERE 4034
Ph: 07 3263 6085

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REIA MEDIA RELEASE – TIME TO AXE THE TAX TO ASSIST HOUSING AFFORDABILITY

TIME TO AXE THE TAX TO ASSIST HOUSING AFFORDABILITY

Real Estate Institute of Australia (REIA) has found the NHFIC report Stamp Duty: Benefits and Challenges solidifies what real estate agents already know: property taxation in the form of stamp or transfer duties and land tax is one of the largest barriers to housing affordability and consistently performing markets.

REIA president, Adrian Kelly said families across all the states and territories, except the ACT, are paying more stamp duty today than 20 years ago and that is time to get serious about stamp duty reform.

“Politicians cannot on one hand gripe about housing affordability; and then on the other say we need this income from home buyers and owners to fund public sector operations.

“Calls from the NSW Government as reported by the Australian today – with the Federal Governments to set up a productivity fund to incentivise stamp duty reform – is one sensible approach to make our Federation competitive and get this important reform going in earnest.

“REIA renews our call on the Council of Federal Financial Relations to take on board this issue seriously and nationally rather than just shift this responsibility off to States and Territories,” he said.

· Mr Kelly cautioned that the assumed alternative in the report – the introduction of a land tax – is not necessarily a panacea and that State Governments should reconsider their focus on taxing Australian homes and households to fund their coffers.

The report found that a household that bought a Sydney median priced house four times over the past 20 years would have paid more than 10 times the amount of duty than a household making only one purchase at the start of this period. Victoria has the largest effective rate of transfer duty on a median property at around 5.4% compared to 4.2% in 2002.

Mr Kelly added that whilst the report concludes that overall consumers are better off paying land tax than a transfer duty this needs to be done correctly and examined lessons learnt of indirect consequences.

“Experience in the ACT is that land tax has scared off investors from the market and significantly reduced the amount of private rentals available.

“So if you want rents to stabilise, a broad-based tax or even revising the GST then shared equally by all sectors of the economy would be the better replacement not unfairly taxing homes and households. Alternatively, an opt-in approach to the payment of stamp duty, where the user elects what to pay and when is another pragmatic approach. We congratulate NHFIC for leading the way on this conversation with evidence led research,” he concluded.

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Best Regards

Linda 姬琳达珍 and Carlos Debello (LREA)

LJ Gilland Real Estate Pty Ltd

Linda Debello LREA推荐书LJ Gilland房地产
http://ljgrealestate.com.au/testimonials/

Request FREE Rental Appraisal here!

"Your Local Property Management & Sales Specialists"

PO BOX 19
ZILLMERE 4034
Ph: 07 3263 6085

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FAST FACTS: THREE-DAY LOCKDOWN – REIQ

COVID-19 crisis is creating extreme uncertainty for REIQ members and the wider real estate profession, affecting how business should be done and unsettling individual staff. The REIQ remains focused on the health and safety of its members, staff and local communities across Queensland and is monitoring and responding to the situation as it evolves daily.

FAST FACTS: THREE-DAY LOCKDOWN

The State Government has issued a three-day lockdown commencing 6pm Tuesday 29 January for the following LGAs: Townsville, Palm Island, Brisbane, Ipswich, Logan City, Moreton Bay, Redlands, Sunshine Coast, Noosa, Somerset, Lockyer Valley, Scenic Rim and Gold Coast.

From 6pm Tuesday 29 January to 6pm Friday 2 July, agencies in these areas need to be aware of the following:

  • No in-person inspections, open homes or auctions can occur during lockdown – you may revert to virtual options where permissible.
  • Plan ahead for Saturday. If you are planning to hold opens or auctions on Saturday, given the rapidly changing landscape you may wish to consider online alternatives or at minimum, implementing a back-up option which may include planning for stricter occupant density restrictions. In your advertising material for auctions or open homes, you might wish to use the wording “Subject to COVID requirements”.
  • Any essential work that cannot be completed from home can be done in the workplace.
  • Obligations to satisfy legal requirements can proceed e.g. settlement of property, handing over keys in accordance with tenancy agreements etc.

Further information from the Queensland Government can be found here.

Further Updates from 28 June 2021:

New restrictions are effective from 1am Tuesday, 29 June for the 11 local government areas (LGAs) of Brisbane, Ipswich, Logan City, Moreton Bay, Redlands, Sunshine Coast, Noosa, Somerset, Lockyer Valley, Scenic Rim and Gold Coast. The REIQ has provided real estate agents operating in these LGAs with an updated poster to display at open homes and inspections. Download the poster here.

Agencies in these LGAs are reminded that:

  • Staff must carry a face mask with them at all times
  • Businesses return to the one person per 4m² inside and one person per 2m² outdoor. smaller venues up to 200m² are allowed one person per 2m² with a maximum of 50 people.
  • Gatherings in private residential homes are capped to 30 people, inclusive of the agent.

Social distancing and good hygiene practices are mandatory, and contact information must be kept about all guests and staff for contact tracing purposes for 56 days. This information includes name, address and mobile phone number. The REIQ has developed an Information Collection Notice and Information Collection Form to assist in this process.

IMPORTANT NOTICE: From 1am 9 July, the ‘Check In QLD’ app will be mandatory for the real estate industry. Additionally, the previous COVID-Safe Industry Plan for Queensland Real Estate will be revoked. and is instead replaced by the COVID-Safe Industry Checklist. From 1am 9 July, agencies will have to have a signed copy of the check list on display at auctions and open home inspections. For more information, please watch the latest video from REIQ CEO Antonia Mercorella.

Queensland Health advises that you remind potential buyers, tenants and staff not to attend open homes, inspections or your office if they are feeling unwell. Agents are encouraged to keep up-to-date with the current Queensland Government’s Restrictions on Businesses, Activities and Undertakings Direction as these requirements are subject to change at any time.

For more information on the current status of COVID-19 restrictions in Queensland, please visit the Queensland Health website.

Source:- REIQ coronavirus fast facts https://www.reiq.com/articles/reiq-coronavirus-fast-facts/

Best Regards

Linda 姬琳达珍 and Carlos Debello (LREA)

LJ Gilland Real Estate Pty Ltd

Debello LREA推荐书LJ Gilland房地产
http://ljgrealestate.com.au/testimonials/

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#Sold June #2021

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Property enthusiasm starting to wane, says report

There has been a sudden turnaround in housing sentiment despite the favourable market conditions, according to the latest Quarterly Property Sentiment Report from ME Bank.

Overall sentiment among buyers and sellers dropped over the last three months from the record high achieved in the first quarter of 2021. First-home buyers reported the lowest level of positive sentiment while investors recorded the highest.

Claudio Mazzarella, head of home loans and personal banking at ME Bank, said this was opposite of what happened last year when prices started to fall due to the pandemic.

“When property prices and interest rates lowered last year during the pandemic, a unique buying opportunity opened up for confident first home buyers with cash savings and secure employment, while many investors became nervous,” he said. “Now prices have rebounded strongly and affordability is going down, first home buyers aren’t feeling as positive.”

The report showed an increasing worry about the availability of residential properties. In fact, around three in five of Australians believe there is not enough choice in the current market. This was apparent among regional buyers, particularly in New South Wales.

“With more city dwellers moving to sea or tree change areas, supply is dwindling and adding pressure to prices,” Mazzarella said.

Given the perceived lack of supply, affordability becomes a concern for 91% of Australians. More than 60% of homebuyers expect prices to increase in the next 12 months.

While the increasing house prices spell bad news for first-home buyers, the trend has an opposite impact on existing homeowners and investors.

A quarter of investors want to cash in on high prices as they plan to sell their property in the next 12 months.

“Rising prices are making property owners feel wealthier, when many buyers are stretching their budgets to afford the limited but growing availability of stock on the market at the moment,” Mazzarella said.

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4 May, 2021 12:00

Easter holidays are now behind us, and this weekend was another test as to how strong the current property market is in Melbourne. The clearance rate was 77% from a massive 1084 auctions over the weekend. This again showed the strength and the resilience in the current market. Despite significant increases in stock levels, clearance rates remain high, close to 80%. The Sydney market continues its crazy trajectory with a clearance rate of 81% over the weekend, and there are stories of ridiculous prices being achieved over the reserve set.

Over the past few weeks, a number of people have asked for my opinion on the property market in Melbourne. It seems that everyone is interested in property now. They also seem to think that times have never been better for everyone working in the real estate market, but that ain’t quite true. Although clearance rates and sales are strong, stock is difficult to find in certain suburbs and municipalities, so demand continues to outstrip supply which is what’s driving up prices.

We are beginning to notice a couple of interesting things. The latest tenancy laws, ushered in by the Andrews government, mean more rights for tenants and far more onerous requirements for landlords to ensure their property is kept in good condition and safe for the tenants. As a result, some long-term owners are starting to exit the property market and are selling their investment properties. There doesn’t seem to be an avalanche of property yet in terms of established houses and apartment stock, but relatively new builds close to Melbourne’s CBD, Carlton, Docklands, and South Bank are a completely different story, with huge numbers on the market. Studio apartments have become the biggest casualty, with price falls of up to 40% from previous purchase prices. One needs to remember, though, that with these apartments, the lending restrictions by banks is what is keeping the prices down. Banks are not keen to lend against property which is less than 50 sqm in size like a studio and consider it a very high risk. The double whammy here for many of these vendors and landlords is that these apartments previously housed a number of foreign students, which is no longer the case now, so there is a loss of rent for at least 12 months. The general advice real estate agents are giving clients is to try and hold off selling these apartments in the CBD until things improve—until immigration and therefore rents improve.

This leads me to the next point I wanted to touch on, which is the current rentals situation. The massive numbers of properties available for rent in Melbourne’s CBD has seen rents plummeting to unprecedented levels, down 20% in parts of the CBD. I would expect this to continue over the next 6-12 months. Regional Victoria is at capacity in terms available rentals, leading to rent price increases. Anyone working in the city or looking for cheaper rent near infrastructure may have to change their preferences on property type and location.

As first-home buyers become priced out of the established property market in inner Melbourne, I believe we will begin to see these buyers turn their attention to the inner-city market, just because of affordability and comparative bang for the buck. So although I expect studio apartments to remain low for some time, I can see an improvement in the uptake of apartments in the CBD over the next 6-12 months. At the same time, though, we also expect large numbers of properties to continue to hit the market in these areas, so this may take time.

Last week the Treasurer, Josh Frydenberg, was hinting at more stimulus plans in the next budget, due May 11, to avoid any recession. This is great news. It’s good to see the federal government not taking their foot off the accelerator but instead looking at ways to grow the economy and create jobs.

In order to see economic growth and ultimately wage increases, the Treasurer is hinting at an unemployment target of sub 5%. The Reserve Bank recently released their analysis, which had set the target at 4.5%. As at March, the unemployment rate in Australia was 5.6% but this was expected to increase with the ending of JobKeeper. So what does all this mean? Well, more spending to create more jobs and paid taxes. In fact, Josh Frydenberg said that in sharp contrast to previous recessions, following this one, “We are on track for the unemployment rate to recover in around two years.”

In his speech he said, “These are unusual and uncertain times, so we remain firmly in the first phase of our economic and fiscal strategy. We first want to drive the unemployment rate down to where it was prior to the pandemic and then even lower. And we want to see that sustained.

“The last time Australia had a sustained period of unemployment below 5% was between 2006 and 2008, just prior to the GFC. This stronger than expected economic recovery means that our fiscal outlook in the 2021-22 budget will be driven off a higher economic base than expected in last year’s budget.

“This will assist us to achieve our medium-term fiscal strategy of stabilising and then reducing gross and net debt as a share of GDP over time. This again reinforces the point that the best way to repair the budget is to repair the economy.”

Provided there are no unexpected economic shocks overseas, the next two years should prove to be very strong for the Australian economy and its people in terms of jobs, wages inflation and asset growth.

Have a great week!

Best Regards

Linda 姬琳达珍 and Carlos Debello (LREA)

LJ Gilland Real Estate Pty Ltd

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Corelogic rental review 27-4-21

CoreLogic’s Rental Review for the March 2021 quarter revealed a surge in national rental rates of 3.2% however the drivers of this growth are diverse, with the regions, Darwin and Perth collectively driving much of the increase.

Across the combined regional markets, rents rose 4.1% in the first quarter of the year while rents in the combined capitals increased 2.9%. Regional units recorded the highest quarterly rental growth of 4.8% compared to the 2.0% rise in capital city units. Capital city house rents were up 3.3% while regional houses rose by a higher 4.0% in the three months to March.

Houses and units in Darwin showed the strongest growth in rental rates over the quarter, up 8.2% and 7.0% respectively.

CoreLogic’s Research Director Tim Lawless, says “While housing rents are rising at the fastest pace since 2007, the headline reading hides the sheer diversity of rental conditions around the country. At one end of the spectrum we have Perth and Darwin where annual rental growth is well into double digits and accelerating. At the other end is Melbourne and Sydney where rents are down over the year.

“The annual decline in rents across Australia’s two largest cities is attributable to falling rents in the unit sector, where closed international borders have created a demand shock in a market that was already challenged by high supply. Melbourne unit rents have fallen by -8.2% over the year and Sydney unit rents are -4.9% lower.

“Some inner city precincts of Melbourne have seen unit rents fall by more than -20% over the past 12 months. Prospects for a material improvement in rental conditions across these inner city high density precincts are largely dependent on a return of tenancy demand from international students and visitors, who were previously a key component of rental demand.

“Although rents are generally rising, housing values have been rising at a faster rate which has seen rental yields compress across most of the capital cities.  The exceptions are Perth and Darwin where rents have risen at a faster pace than housing values, driving a rise in yields.  The opposite is true in Sydney and Melbourne where rental yields are plumbing new record lows.

“Outside of Sydney and Melbourne, with mortgage rates so low, yields are generally high enough to provide investors with positive cash flow opportunities from the outset,” says Mr Lawless.

Key highlights – March Quarter

  • National rental rates rose by 3.2% over the first quarter of 2021; the largest quarterly increase in the national rental index since May 2007.
  • Combined capital city dwelling rents rose 2.9% in the March quarter, while regional rents increased 4.1% over the same period.
  • Unit rents rose across both regional and capital city markets, with regional units recording the highest quarterly rental growth of 4.8% compared to the 2.0% rise in capital city units.
  • Capital city house rents were up by 3.3% over the three months to March 2021 and rents across regional houses rose by a higher 4.0% quarterly.
  • Houses and units in Darwin show the strongest growth in rental rates over the quarter, up 8.2% and 7.0% respectively.
  • Canberra was not only the most expensive market to rent a house across the capital cities, but also the most expensive capital city unit rental market in the quarter at $513p/w.
  • Melbourne recorded the weakest growth in rents over the three months to March 2021, with house rents up 1.6%, while unit rents were unchanged over the quarter.
  • National gross rental yields were recorded at 3.55%, down from 3.71% over the December quarter and 3.76% a year earlier as dwelling values outperform rental growth.
  • Darwin was the highest yielding capital city, up 21 basis points over the month to 6.21%. Sydney remains the lowest yielding at 2.74%
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