Mortgage changes are about to hit thousands of Australians
The RBA estimates that more than 50% of households with a fixed-rate mortgage expiring in 2023 will face a 40 percent or greater increase in mortgage payments.
What’s driving the eastern suburbs property market?
There were fewer transactions in the Sydney property market in 2022, after the boom of 2021, due to rising interest rates and reduced buyer sentiment. We noticed that many people were sitting on the sidelines, waiting for the market to turn, due to low volume levels and low buyer demand.
Dover Heights Property Market 2023
House prices in Sydney’s Dover Heights are moderately stabilizing after two years of rapid growth, making it one of the top 10 most expensive suburbs. There were only 28 properties sold in 2022, totalling $213,500,000 in gross sales.
How did the east suburban property market fare in 2022?
Real estate is among the most sensitive sectors of the economy to interest rates. For instance, in 2022 we experienced eight consecutive increases to combat inflation, which still impacted home prices in Australia.
The biggest risk to Australian house prices is forced sales
In 2023, one of the biggest unknowns is how interest rate hikes and the transition from fixed to variable rates will affect already strained budgets and declining property values.
Capital Gains on Real Estate
Initially, capital gains tax might seem intimidating, but if you edge a little closer, you’ll see it’s not nearly as complicated as you thought. A capital gains tax is a levy you pay calculated based on the difference between what it cost you to acquire an asset and what you received when you sold it. […]