Financial News

Foreign developers, many from mainland China and Southeast Asia, are behind many of the ambitious new building projects in Melbourne, according to new analysis by Charter Keck Cramer, a Melbourne-based property advisory firm. "It's no coincidence we are seeing peak levels of development activity across … Melbourne coincide with a rising participation of foreign developers and purchasers," said Robert Papaleo, national executive director at Charter Keck Cramer. Melbourne's changing skyline Melbourne's skyline is gradually being transformed by overseas-funded developments. Among…
Here are the answers to some frequently asked questions about changes to the first-home buyer duty concession and exemption, included in the State Taxation Acts Amendment Act 2017 which received Royal Assent on 27 June 2017. 1. What is it? This is an exemption from land transfer duty (commonly known as stamp duty) for first-home buyers who buy a home with a dutiable value of $600,000 or less. First-home buyers buying a home with a dutiable value from $600,001 to…
Prices across some suburbs in Australia’s capital cities have been growing by the equivalent of the price of hundreds of ‘smashed avocados’ in the 12 months to November 2016, according to recent analysis by comparison website finder.com.au. Taking into account the average cost of avocados, comparison website finder.com.au examined recent CoreLogic property price data to rank price growth across suburbs in each of Australia’s capital cities according to a ‘Smashed Avocado Index’. The development of this index comes after controversial…
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