With the new year comes new beginnings – new tenures and employment contracts, new Defence postings, a new school and university year. January and February are a busy period with high numbers seeking rental properties. In January 2016, the vacancy rate for the Riverina was 3.70%, while Fitzpatricks Real Estate achieved 2.84%. This is primarily due to having two dedicated leasing consultants showing our properties on demand, with our inspection program providing …
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The recent proposal from Labor to restrict negative gearing could reignite property booms – by limiting negative gearing tax benefits to investors who buy new homes and not existing ones, this threatens to send investors buying up existing real estate before the cut-off date. All eyes will be on the outcome of this. So what exactly is “negative gearing”? It is the process of adjusting the …
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Estella is situated on the elevated northern extreme of Wagga, overlooking the Murrumbidgee River and only five minutes drive to Wagga’s central district. The suburb is relatively new, with development commencing in the 1980s, and the streets named after crop varieties and individuals historically associated with the nearby Agricultural Research Institute. Located directly to the south of Charles Sturt University and to the west of Boorooma, the southern …
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Last week The Daily Advertiser featured an article on Wagga’s ranking of 14th in Australia for affordable housing (see the full article here), which takes into account the median house price in comparison to the median household income. The Demographia International Housing Affordability Survey is crucial recognition of the city’s stable economy and housing market, and as a worldwide measure Wagga ranks 258th – ahead of Sydney (51st in Australia, 366th …
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The Australian Tax Office (ATO) will look closely if it knocks on your rental property door. Knowing what can and cannot be deducted as a legitimate tax expense can be a minefield when it comes to investment property. Late last year it notified tax agents of the continuing rental audit program of their clients that aims to ensure taxpayers do not over claim rental deductions. …
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