The Australian Prudential Regulation Authority (APRA) have relaxed their mortgage assessment guidelines, making it exceptionally easier for first home buyers to secure a home loan. APRA was established by the Australian Government in 1998 and oversees the activity of different institutions across banking, insurance and superannuation. They aim to maintain order to promote a stable […]
Do you live in an apartment and want to swap car spaces with another owner? A strata scheme is a building or collection of buildings that have been separated into lots. These lots are typically known as apartments, units or town houses. In a strata scheme, lots are often allocated a car space which is […]
The word caveat simply means a warning or notice, and a caveat precisely does that. A caveat serves notice to all the world that someone has an interest in a property alongside the interest of the registered owner of that property. The caveat will not only inform everyone that you have an interest in the […]
Bill Gertos, a Sydney based property developer and former accountant has been successful in litigating to become the legal owner of a $1.7 million Sydney home that he moved into after the death of the true owner. The house located at 6 Malleny Street in Ashbury was originally owned by Mr Henry Downie, who occupied […]
In some instances the courts may impose an easement or access order when conflict arises over access to neighbouring land and negotiations between the parties have failed. For example, if a house is built up against or very close to the neighbouring property, it may be necessary for the owners to enter the neighbouring land […]
With the resolution announced by Randwick Council on 17 April 2018 to change its LEP and allow subdivision of company title duplexes approved prior to 8 July 2018, I have been inundated with enquiries from company title property owners looking for more information on the process involved for them to convert their property. I have […]
No Stamp Duty on Transfer of subdivided company title property to shareholders With the recent publication of the new Low Rise Medium Density Housing Code, there may well be a flurry of activity in subdivision of company title duplexes in the Randwick Council area particularly around the suburbs of Little Bay, Chifley, Matraville and Malabar. […]
The NSW Government has a range of measures in place to improve housing affordability for certain classes of property purchasers. The policies take into account the difficulties first home buyers, in particular, face in entering the market along with the state’s growing population and the need to ensure new infrastructure and transport links remain close […]
As a result of changes introduced in the 2017 Budget, for agreements entered into for the purchase of residential real estate on or after 1 July 2017, the purchaser duty surcharge rate has increased from 4 per cent to 8 per cent. The surcharge is in addition to the duty payable on the purchase of residential […]
The State Government has announced in the NSW State Budget that they will be making significant changes to the First Home Buyers.
In the past few months, there has been an exponential increase in the sale of units ‘off the plan’.