Conveyancing Blog

2 min read

RBA has decided to cut the cash rate by 15 basis points to 0.10%

By Conveyancing Blogger - Sydney Conveyancing - Fixed Price Conveyancing in Sydney & across NSW by Licensed Conveyancers. Call 02 6989 4656. on Nov 4, 2020 3:51:08 PM

At its November Board meeting, the RBA has decided to cut the cash rate by 15 basis points to 0.10%. The decision was part of a package of changes, which also included:

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Reserve Bank of Australia keeps Interest rates on hold again

By Conveyancing Blogger - Sydney Conveyancing - Fixed Price Conveyancing in Sydney & across NSW by Licensed Conveyancers. Call 02 6989 4656. on Sep 2, 2020 4:00:10 PM

The RBA’s decision to hold the cash rate at 0.25 per cent means interest rates on loans will remain stable, which will help many households and businesses manage their cash flow.

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1 min read

Sydney property market bounces back

By Sydney Conveyancing - Fixed Professional Fees Conveyancing in Sydney & across NSW on Aug 12, 2020 8:21:37 PM

While housing prices in most capital cities have declined a little since May, the rising equity market meant household wealth remained largely unchanged, despite the deep recession caused by the coronavirus pandemic. Figures released by CoreLogic have shown that Sydney has fallen by 0.8 per cent, while nationally, capitals have fallen by just 0.7 per cent throughout the COVID-19 crisis.

While the Reserve Bank noted in its latest meeting that conditions in the established housing market “remained mixed”, pointing to recent falls in dwelling values across Australia’s capital cities.

“Housing prices in some larger cities had declined in June, though we’re only a little below recent peaks in the case of Sydney and Melbourne,” the RBA noted.

“Housing prices in a number of smaller cities were broadly unchanged.” REA chief economist Nerida Conisbee said suburbs with prices over $1 million have remained stable during the coronavirus pandemic due to the strong momentum of the past year.

Fifteen suburbs across Sydney have crossed the $1 million median price barrier for the first time.

The suburbs, located predominantly in Hornsby Shire, The Hills and Sutherland Shire, saw their median house price surge in the 12 months to June, thanks to record-low interest rates fuelling the market.

Realestate.com.au data showed Bexley in the city’s south had the strongest growth of the new entrants, with prices growing $266,000 to $1.251 million. Neighbouring Bayside suburb Arncliffe also surpassed $1 million. However, Sydney’s property market is going backwards for the first time since early 2019, with new data revealing house prices have fallen 2 per cent over the past three months. Northmead was the sole Parramatta suburb to break $1 million, with the median house price now $1.01 million. Jannali, Menai and Yarrawarrah from Sutherland Shire along with Belmore and Picnic Point from the Canterbury-Bankstown area also saw house values surpass $1 million.

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1 min read

COVID-19 economic impact behind Australian home prices falling

By Conveyancing Blogger - Sydney Conveyancing - Fixed Price Conveyancing in Sydney & across NSW by Licensed Conveyancers. Call 02 6989 4656. on Aug 10, 2020 6:57:02 PM

Australian home prices have fallen for the third successive month, due to the economic impact of the COVID-19 pandemic.

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NSW Stamp duty calculator - Sydney Conveyancing

By Conveyancing Blogger - Sydney Conveyancing - Fixed Price Conveyancing in Sydney & across NSW by Licensed Conveyancers. Call 02 6989 4656. on Jul 28, 2020 3:19:52 PM

Wonder how much stamp duty you'll pay on a property?

 

If you are first time buyer and/or buying a house as a primary residence you might be eligible for a concession on the stamp duty. Generally, if you're a foreign resident then you need to pay extra 8%.
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1 min read

Stamp duty change for First Home Buyers starting 1 August 2020

By Sydney Conveyancing - Fixed Professional Fees Conveyancing in Sydney & across NSW on Jul 27, 2020 10:52:56 AM

NSW government has abolished stamp duty for First-Home buyers to give relief to to support the economy amid the Covid-19 pandemic.

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1 min read

Bushfire Impact on Property Price

By Sydney Conveyancing - Fixed Professional Fees Conveyancing in Sydney & across NSW on Jul 13, 2020 5:45:12 PM

Property price can fluctuate with impact of Bushfire in any given area.

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1 min read

What is the difference between chattel and fixture?

By Sydney Conveyancing - Fixed Professional Fees Conveyancing in Sydney & across NSW on Jul 7, 2020 1:18:25 PM

Chattels

An object that can be removed without damage to the property or it doesn't require a tool to be removed. If it is easy to disconnect for example a refrigerator or a stove that is connected by only  a power cord, then it is likely to be chattel.

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1 min read

Government supporting First Home Buyers

By Sydney Conveyancing - Fixed Professional Fees Conveyancing in Sydney & across NSW on Jul 7, 2020 10:22:09 AM

NSW Government has developed a brand new package to help and improve affordability of housing.

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2 min read

Home builder grant of $25,000

By Sydney Conveyancing - Fixed Professional Fees Conveyancing in Sydney & across NSW on Jul 3, 2020 12:59:49 PM

The Federal Government has unveiled its HomeBuilder package,home owners to apply for a tax-free grant of $25,000 if they are spending between $150,000 and $750,000 renovating a home or building a new home — but the eligibility criteria are reasonably tight.

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