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First home buyers doing it tough to save a deposit ..

1/28/2015

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Bankwest First Time Buyer Deposit Report tracks the time it would take for first time buyers from different states to save a 20% deposit to June 2014. The information based on local incomes and local median house prices and the level of the First Home Owners Grant where available by state.

  • New South Wales first time buyer couple would take 4.8 years. (In Sydney, this is at 6.7 years to save the $165,100 deposit)
  • Queensland first time buyer couple would take 3.8 years (Its 4.1 years for Brisbane)
Overall, the downward trend in the number of first time home buyers continued in 2014, with 80,018 buying their first home in the 12 months to June 2014, while 90,553 bought their first home in 2013. Five years ago in 2009, there were 162,679 first time home buyers in the period to June 2009.

At Australian Property Selectors, we help first home buyers to purchase affordable investment properties first, at below market prices, generating high rental yields, and with an ‘X factor’ enabling investors to manufacture equity. This strategy can allow young investors to tap into the profits/ equity of their Investment properties, towards funding the deposit for a property in their dream suburbs.

Read the full report at http://goo.gl/FmpyNl


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APRA and ASIC put Banks on notice !

12/12/2014

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  • Find the APRA letter sent to banks on http://goo.gl/AkmrTu
  • Find the ASIC annoucement on http://goo.gl/8zACFH
APRA and ASIC made the headlines announcing the that they have put banks on notice, and they will be cracking down on high risk home lending.

The banking regulator APRA and the corporate regulator ASIC say they are taking coordinated action to ensure that banks and other lenders are not making home loans which borrowers might struggle to repay.

Interest-only loans reached a record high of 42.5 per cent of all home loans in the September quarter this year.


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Parramatta City planning radical changes

11/29/2014

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Parramatta Council have prepared 3 draft key strategic documents that look at the future land use and design across parts of the City Centre. If approved, these changes will increase the office floor space, accommodate more residents and create more open areas.
  • Draft Parramatta City Centre Planning Framework Review.  
Focuses on creating planning controls that encourage and allow world class development, active public spaces, and sustainable building design across the entire city.

  •  Draft Parramatta City River Strategy.
Focuses on the revitalisation and development of the Parramatta River foreshore.

  •  Draft Auto Alley Planning Framework. 
Focuses on the revitalisation of Auto Alley into the Parramatta City Centre's "Southern Gateway" office precinct.
The above changes have the potential to change Parramatta to a more modern vibrant city and rejuvenate the tired city vicinities.
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