People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Sure I'm not alone in my chain of thoughts.
Well i think, home prices will need to fall by at least 40% before the market normalizes. If you do not know whether to buy a house or not, it is best you seek guidance from a well-experienced advisor for proper portfolio allocation. So far, that’s how I’ve stayed afloat over 5 years now, amassing nearly $1m in return on investments.
this is quite huge! what have you invested in ? much more info needed please ...I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
The decision on when to pick an Adviser is a very personal one. I take guidance from Annette Marie Holt to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.
Yes, affordability is a huge obstacle for first homebuyers. But all is not lost - there are plenty of schemes specifically designed to help you. For example the First Home Guarantee Scheme, the First Home Owners Grant, Stamp Duty Waivers and others. Feel free to hit us up on 1300 088 065 for more information or you can go through this article - www.huntergalloway.com.au/grants-to-buy-first-home/
It's not 15%. 15% is the tax the super fund removes from your salary sacrifice. When you withdraw the money for FHSS you receive the requested amount minus 15%. The ATO then include the gross amount, ie not net of the 15%, as taxible income for the year you take it out. As it's a special scheme they don't tax you on the entire amount. From what I can tell they take the requested amount eg 40k take off 30% and add the result to your taxable earnings for the year in this case 28k. When seeing how much you own in tax they deduct the tax paid already which includes the 15% that the super fund removed. So basically one pays 15% plus the tax on 70% of the requested amount as though it was an annual bonus. This is thus at your marginal rate. If it pushes you over tax brackets you should pay less tax on the bit below and more one the bit above.
houses don't need to be this high and they are only high due to government policies. get use to slums and a wider wealth gap. way to go auatralia, great if you wealthy, may as well be a slumb in any country if you are not. then wait a while and the rich will need to build special cheap housing for the people who cut the grass, make you a latte. some times called slaves.
FHSS is great, just be mindful to be pro-active to release your FHSS amount in the ATO portal. It can take a few weeks to receive the super in your bank account. Also not all voluntary contributions are considered viable for withdrawal.
Thanks for your comment! While, yes, affordability is becoming a huge problem in the broader Australian market, there are always options available in smaller, individual markets. Buying a home is really more about your personal financial position and goals - that is why it is important to talk to an expert in order to make an informed decision. Hit us up for a free chat!.
The government has committed to building 1.2 million homes in the next 5 years. In the previous 5 years using today as a bench mark 900k - 1 million new homes were built. So a surplus of 250k plus houses over the next 5 years compared to the previous 5 years. In order to meet this goal we need more skilled labour which means increasing or at least keeping immigration levels. So if we take into account the planned migration for 2025 of skilled workers is 132 000 this means over 5 years potentially 600k+ individuals that would potentially have purchasing power to buy a home as well, increasing subsequent demand on the 250k planned surplus of homes. Of course not all will be but lets say a conservative 20% or 100k+ people. What Im trying to highlight is this will have little bearing on the access to property. What we really need is greater access to affordable ready to build land to ease demand on the market. Removing policies that prompt investors to purchase more than one property or buy for the sake of investment would be one way. Like getting rid of negative gearing. People with investment properties will complain though because as the saying for governments goes, "You can give, but you cant take back". If we talk about the first home owners grant in QLD at new land and property or homes that have been massively renovated you will struggle to find packages at 750k that fit the bill. Not to mention if you buy land at 450k and housing at 350k, if by the time you lay foundations the land value has increased to 500k which in this market is likely, you no longer fit the bill for the grant. $50 back each fortnight for someone earning 60k is a bit of a slap in the face and with the electricity rebates all the electricity companies have done is increase their rates to eat through this subsidy and effectively garner tax payer money as income. You want affordable housing get a government thats actually prepared to make big changes to policies to benefit the many as opposed to the few. Else enjoy that tax rebate in Bali while you use your super to buy and negatively gear your 1st (hopefully) investment property and get ready to play that long term investment game while paying inflated rent prices.
Thank you for sharing your thoughts! There are definitely many factors at play here regarding the current housing crisis. Making land more accessible is definitely one of the key issues that can solve this problem. There is a need for well-thought out government policies that will benefit both investors and homebuyers. At the end of the day it is a balancing act between affordability and rising costs…
Remember property prices are a symptom of broader parts of the economy driven by debt access, economy growth/sentiment, immigration and property investor policy. What you are seeing in Melb is the change in policy. Essentially it's the canary in a coal mine as other states follow that policy (as they also are going broke), and federally immigration is being cut with a slowing economy. It's down, down time now by the look. Brisbane and Adelaide are huge bubbles. The jobs aren't there. Perth is a mining town and as such it swings. I'm pretty bearish so brace for impact IMO
Thanks for your insights! Absolutely, property prices do not exist in a vacuum as there are many other factors at play. Interesting points you brought up about Melbourne, Brisbane, Adelaide and Perth. Although the broader Australian property market has proven extremely resilient to economic shocks, it is definitely wise to keep an eye out for the local factors you mentioned so as to be prepared for any major changes.
@@MortgageBrokerAustralia thank you :) what do you think about Deception Bay (north) versus Ipswitch for a $700 house. If it was you, and you would live in couple of years first, which of them would you choose?
📚 My Free Resource Hub & Education Community go.huntergalloway.com.au/hub
People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Sure I'm not alone in my chain of thoughts.
Buy now, home prices will not go lower. If rates drop, you can refinance
The government will have no choice but to print more notes and lower interest rates
Well i think, home prices will need to fall by at least 40% before the market normalizes. If you do not know whether to buy a house or not, it is best you seek guidance from a well-experienced advisor for proper portfolio allocation. So far, that’s how I’ve stayed afloat over 5 years now, amassing nearly $1m in return on investments.
this is quite huge! what have you invested in ? much more info needed please ...I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
The decision on when to pick an Adviser is a very personal one. I take guidance from Annette Marie Holt to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.
the only problem I have got with property is that I don't have enough money to buy one even with other people's money
Yes, affordability is a huge obstacle for first homebuyers. But all is not lost - there are plenty of schemes specifically designed to help you. For example the First Home Guarantee Scheme, the First Home Owners Grant, Stamp Duty Waivers and others. Feel free to hit us up on 1300 088 065 for more information or you can go through this article - www.huntergalloway.com.au/grants-to-buy-first-home/
It's not 15%. 15% is the tax the super fund removes from your salary sacrifice. When you withdraw the money for FHSS you receive the requested amount minus 15%. The ATO then include the gross amount, ie not net of the 15%, as taxible income for the year you take it out. As it's a special scheme they don't tax you on the entire amount. From what I can tell they take the requested amount eg 40k take off 30% and add the result to your taxable earnings for the year in this case 28k. When seeing how much you own in tax they deduct the tax paid already which includes the 15% that the super fund removed. So basically one pays 15% plus the tax on 70% of the requested amount as though it was an annual bonus. This is thus at your marginal rate. If it pushes you over tax brackets you should pay less tax on the bit below and more one the bit above.
How is the Sunshine Coast holding up? Any future predictions for that region?
What do you think about rochedale south?
houses don't need to be this high and they are only high due to government policies.
get use to slums and a wider wealth gap.
way to go auatralia, great if you wealthy, may as well be a slumb in any country if you are not.
then wait a while and the rich will need to build special cheap housing for the people who cut the grass, make you a latte. some times called slaves.
Hey there! Thanks for sharing your thoughts. It’s always great to hear different perspectives. 😊
It's neolibralism. These guys wouldn't get it.
FHSS is great, just be mindful to be pro-active to release your FHSS amount in the ATO portal. It can take a few weeks to receive the super in your bank account. Also not all voluntary contributions are considered viable for withdrawal.
Yes, definitely those are things to consider when using Super to buy a home. That’s why proper planning is always key… Thanks for the comment!
If you don't buy in the next 12 months, you might never own a house.
Thanks for your comment! While, yes, affordability is becoming a huge problem in the broader Australian market, there are always options available in smaller, individual markets. Buying a home is really more about your personal financial position and goals - that is why it is important to talk to an expert in order to make an informed decision. Hit us up for a free chat!.
The government has committed to building 1.2 million homes in the next 5 years. In the previous 5 years using today as a bench mark 900k - 1 million new homes were built. So a surplus of 250k plus houses over the next 5 years compared to the previous 5 years.
In order to meet this goal we need more skilled labour which means increasing or at least keeping immigration levels. So if we take into account the planned migration for 2025 of skilled workers is 132 000 this means over 5 years potentially 600k+ individuals that would potentially have purchasing power to buy a home as well, increasing subsequent demand on the 250k planned surplus of homes. Of course not all will be but lets say a conservative 20% or 100k+ people.
What Im trying to highlight is this will have little bearing on the access to property. What we really need is greater access to affordable ready to build land to ease demand on the market.
Removing policies that prompt investors to purchase more than one property or buy for the sake of investment would be one way. Like getting rid of negative gearing. People with investment properties will complain though because as the saying for governments goes, "You can give, but you cant take back".
If we talk about the first home owners grant in QLD at new land and property or homes that have been massively renovated you will struggle to find packages at 750k that fit the bill. Not to mention if you buy land at 450k and housing at 350k, if by the time you lay foundations the land value has increased to 500k which in this market is likely, you no longer fit the bill for the grant.
$50 back each fortnight for someone earning 60k is a bit of a slap in the face and with the electricity rebates all the electricity companies have done is increase their rates to eat through this subsidy and effectively garner tax payer money as income.
You want affordable housing get a government thats actually prepared to make big changes to policies to benefit the many as opposed to the few. Else enjoy that tax rebate in Bali while you use your super to buy and negatively gear your 1st (hopefully) investment property and get ready to play that long term investment game while paying inflated rent prices.
Thank you for sharing your thoughts! There are definitely many factors at play here regarding the current housing crisis. Making land more accessible is definitely one of the key issues that can solve this problem. There is a need for well-thought out government policies that will benefit both investors and homebuyers. At the end of the day it is a balancing act between affordability and rising costs…
Good to see Brisvegas powering ahead.
Was always going to happen.
Absolutely! It’s fantastic to witness Brisbane thriving.
Remember property prices are a symptom of broader parts of the economy driven by debt access, economy growth/sentiment, immigration and property investor policy. What you are seeing in Melb is the change in policy. Essentially it's the canary in a coal mine as other states follow that policy (as they also are going broke), and federally immigration is being cut with a slowing economy. It's down, down time now by the look. Brisbane and Adelaide are huge bubbles. The jobs aren't there. Perth is a mining town and as such it swings. I'm pretty bearish so brace for impact IMO
I've been bearish for years and all that's happened is never ending price growth. Australia isn't for Australians anymore
I agree with you on this. Its only a matter of time. Prices will go down with a growing recession & emigration
Thanks for your insights! Absolutely, property prices do not exist in a vacuum as there are many other factors at play. Interesting points you brought up about Melbourne, Brisbane, Adelaide and Perth. Although the broader Australian property market has proven extremely resilient to economic shocks, it is definitely wise to keep an eye out for the local factors you mentioned so as to be prepared for any major changes.
Yeah your right... its for Pajeets Mohammeds and Changs @petebeaumont253
@@BB-qp5xo and the mega wealthy and political class not wanting their real estate investments to deprecate.
Just wait and save money for the deposit.😊
Now that's funny
True, its not about timing the market but time in the market...
LOL yeah just save $100,000 while inflation eats your savings and house prices sky-rocket. Absolute Boomer-tier advice
@@FEGuitar nah you got it all wrong. We should just not buy coffee and avocado smash sandwiches and we'll have 999999 houses. /s
Wonderful video thank you
You're welcome! Glad it was helpful.
@@MortgageBrokerAustralia thank you :) what do you think about Deception Bay (north) versus Ipswitch for a $700 house. If it was you, and you would live in couple of years first, which of them would you choose?