Welcome to The Buzz January Issue 2020

Are you ready for 2020?

Here we are at the start of a new year. One that will bring its own set of challenges and opportunities.

What will a successful year in real estate look like for you?

Will you:

  • Upgrade to a home close to the beach?
  • Downsize to a lifestyle friendly property?
  • Cash out an investment?
  • Secure your first home?

Do you want help realizing your 2020 real estate goals? If so, give Your Place a call. You can bank on us!

More on the Queensland Rental Reforms

If you own an investment property in Queensland, I hope you have been made aware of the rental reforms proposed by the Queensland Government.

An expert’s opinion piece is included in this issue. Also check out the December 2019 Issue of The Buzz. It has several articles which outline the implications that these new rental laws will have for you.

Similarly follow the links below to the REIQ and QLD State Government rental reform websites. Learn more about this topic and most importantly have your say:

https://www.rentalreforms.com.au/

https://www.yoursayhpw.engagementhq.com/reform-process-renting-in-qld

Real estate and finance news

Is your investment property or home operating as an Airbnb? Because of the verdict in a recent court case, all those staying in an Airbnb may be classed as tenants not tourists. Airbnb operators should consider the potential effects due to this.

The cash rate is forecast by many to drop a further 0.50%. Consequently, mortgage rates are tipped to go even lower this year. However, the full amount of any cash rate drop is unlikely to be passed on.

Sydney and Melbourne have just recorded their biggest price increases in a decade. As a result, it may be a scary 2020 if you are hoping to buy in those cities.

With lower rates and stock shortages it may also be a challenging time to buy in other markets. For example, Hobart, Brisbane and the Gold Coast.

Here on the Sunshine Coast, it seems there are stock shortages and high numbers of buyers. In contrast many listings are sitting on the market for lengthy periods of time. Furthermore, watch out for agencies that are not disclosing the actual sale price and are instead only advertising the original list price. Maybe the sale prices they are achieving are disappointing.

Finally, the Federal Government First Home Loan Deposit Scheme has just kicked off. If you’re a candidate, it’s probably worth following this link to the government’s website:

https://www.nhfic.gov.au/what-we-do/fhlds/

 Local News

Certainly worth catching up on:

  • the most controversial development applications of 2019
  • the latest on the proposed PFAS pipeline at the airport expansion
  • the top 20 developments coming to the coast in 2020

Tips & Advice

Probably valuable to read if you’re getting a home loan:

  • how not to make the 5 biggest mistakes when getting a mortgage

Property Reports:

Because you like to stay up to date:

  • A December Quarter Sales Report for your suburb/s of interest
  • An excerpt from the Core Logic Best of the Best 2019 report

See icons below and follow the links for your copy of the reports and to read the full articles.

I hope you had a relaxing festive season and are pumped for a huge 2020!

Please let us know what you have planned and how we can help!