Winding back off-the-plan (OTP) stamp duty concessions by the Victoria State Government is likely to have “unintended market consequences for purchasers and renters alike”, according to property advisory Charter Keck.

“Investors buying an OTP apartment in Melbourne will face an increased impost of $23,000-$29,000 for apartments priced from $500,000 to $600,000 from July 1 which represents a near 12 times increase”, Charter Keck’s analyst Robert Papaleo says.

But first-home buyers purchasing an OTP apartment will be $13,000 better off than their counterparts in Sydney or Brisbane under the changes.

“Most owner-occupier purchasers of OTP apartments in Melbourne will also still…

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Many more Australians looking to purchase property have been turning to buyer's agents, but they need to approach them with caution.

Australians should think carefully about engaging a buyer's agent to help them purchase a property.

Buyer's agents were prominent in last year’s series of reality TV show ‘The Block’, with four out of the five renovated apartments auctioned in the finale purchased through buyers’ agents.

While contestants in The Block made huge profits from properties selling far above reserve prices, it was often a case of buyer's agents bidding against one another and pushing up prices.

Many more Australians…

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If you’re like most Australians, probably your family home!

But as much as it might make you feel good that it’s gone up in value, so have other homes, which means it’s hard to ‘cash-out’ unless you downsize – sell and buy a smaller home.

These days, especially in big cities, thousands of people own homes worth more than a million dollars. But many of them don’t feel like millionaires. Why not? Because if they want to ‘get’ that million dollars, they have to sell their home. And then they’d be a homeless millionaire. What’s the point? We all need…

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Eager to enter the property market but can’t afford to buy where you want to live? It might be time to consider rentvesting.

With headlines in the media often touting rising living costs and housing unaffordability, it is no surprise that many young people feel like it is impossible to enter the property market. While entering the market has become more difficult in the last few years, it certainly isn’t impossible – you just have to think outside of the box. Enter rentvesting:

So what is rentvesting?
Rentvesting refers to purchasing an investment property while continuing to rent in your…

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