Category: Property

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Property

imageInvestment property is an ideal option, if a person wants his / her investment expansion. The owner has the privilege to update the property for his own desires, while the exclusive right to use it when he wants, for his own benefit.

properties of various types, such as personal property, real estate and intellectual property. All moving objects are classified as personal property, while all real property such as real estate or are called. The only difference between the two types is that moving objects can be amortized over time, while real estate is not real. Stocks, bonds and other financial products fall under the category of abstract property which is the personal property.

trademarks, copyrights and patents are the intellectual property rights. Each new invention or discovery of new mathematical theories or scientific, personal items, poems and other literary, artistic creation of new, or new concepts or ideas for product development of any business and many other things that were created by an individual user or group of persons or an organization are the intellectual property owner and the owner has the exclusive right to them. property owners are entitled to be placed on his property in its many flavors are available. The owner is free to sell, transfer or extract value from their property, for example. There are various measures of the law, who own a property must be provided. A mentally incompetent person or a small is usually not the owner. Arrangements may be different in different countries, but you’re not allowed to use a property to harm others. properties, public or private they can be. Public goods include the state or community, while private property by one person or group of persons or part of a business. By law a company, a company that has the right to property. Property can also be leased in the case of real or personal property. If the tenant can lease the particular property, but can not sell and the owners generally have no right to force you to leave the property before the lease expires. In the case of intellectual property, the owner of licenses to third parties. Stock Exchange there are certain qualities that not all owners, but they are protected by law. For example, sea water and seabed is generally not heard from anyone. Earth’s atmosphere, the universe, the heavenly bodies, planets and other galaxies and even the land of Antarctica is understood by anyone. Although not the owners, there are international laws, and no one can interfere with these properties. How good are wild animals and state property are protected by the state. For more information, visit Parmdeep Vadesha forum is a magnate community property, is well known that the largest online community of real estate investors today. See the various sections of the forum and see how you are.

Wellington Residential Property for sale Values Trending Up

imageThe current QV index and REINZ (Real Estate Institute of New Zealand) both signify that wellington property for sale values trending up. The costs in the month of February show better gains. In fact, total sales were around 37% and median priced grew up to 1.1% as compared to February 2011. This is favorable news but there was less eagerness because of marginal
price gains. Auckland is experiencing the growth and most areas experienced advancement. The current data from REINZ signifies strong growth in overall sales in the residential housing marketplace with 6168 sales in a month. It was the best result in the market as compared to the previous year.

It shows that the house price was steady for the 3rd straight month and went up to 1.4% in February 2011. According to leading reports, the wellington property values trending up and market is witnessing strong sales. The QV index indicates that the values are 1.1% in the past 2 months. According to Real Estate Institute of New Zealand all parts from Westland /Canterbury and Otego recorded better growth as compared to February previous year. Even though Westland/Canterbury sales value doubled as compared to last year, the property market was affected by the 22nd February earthquake.

Otego recorded an increase of 6.3% followed by Bay of Plenty/Waikato and Northland with 3.3%, and Hawks Bay with 4.6%. Canterbury recorded a highest rise with 14.0% followed by Bay of Plenty/Waikato at 2% and Otego with 1.9%. The agents are witnessing more positive sentiment and activity from purchasers in many places. Moreover, this is not resulting to price rise. In many areas, agents continue to list shortages. Irrespective of increasing number of transactions many buyers are very much cautious. Most focus in on largest realty market i.e.Auckland.

Property prices to fall further?

imageThe distressed nature of the Spanish property market combined with the country’s fragile economy suggests that property prices will fall further, despite the fact that they have tumbled nationwide since the peak of the market in 2007. The Eurozone debt crisis that has already seen three countries, Greece, Ireland and Portugal bailed out is now threatening much bigger economies like Italy and Spain.

Furthermore, with unemployment and foreclosure levels in Spain both growing, it is hard to see how further price falls are not inevitable, presenting purchasers with an opportunity to bag an even cheaper priced home in Spain. Fresh research by an association of homeowners facing foreclosure (AFES), reveals that almost 20% of Spanish mortgages signed between the boom years of 2004 and 2008 are or will become delinquent. AFES calculate that over 700,000 families will have had their homes repossessed by 2015, which is a tragedy. But while extremely unfortunate, it does present those in a position to buy property, with an opportunity to secure a home at an even cheaper price, crushing any slim hopes that that market will soon embark on the road to recover.

Mark Stucklin of Spanish Property Insight wrote: “Specifically, there were four million home purchases between 2004 and 2008 , the bubble years of the Spanish property boom  of which 170,000 have already been foreclosed, another 170,000 are in process, and another 375,000 are expected to be repossessed by 2015.” “All this at a time when there are more than three million empty homes in Spain,” he added.

AFES propose partial or total debt forgiveness by banks, more mortgage lending, and lower property prices to making housing affordable. “The big social drama is that after losing their homes people are saddled with debts they can never afford to pay,” said Carlos Baños, President of AFES. or total debt forgiveness by banks, more mortgage lending, and lower property prices to making housing affordable. “The big social drama is that after losing their homes people are saddled with debts they can never afford to pay,” said Carlos Baños, President of AFES.

How to Calculate Property Taxes

imageIf you can calculate property taxes for your real estate, you can better plan your yearly budget. If you are purchasing a new home or simply want to find out for the upcoming year, there are some things you should know before you set out to calculate property tax.

What Is Property Tax?
Before you plan to make property tax payments, it might be helpful to understand the definition of property as the government sees it. Property is generally broken into three categories. Land is the first category, and it generally means undeveloped, grazing or farm land. Improved land is property with dwellings on them (either residential or commercial). The final category is personal, and includes items that can be transported (such as boats or RVs). When property is assigned a value, the government can tax it.

Mill Rate
When thinking about property taxes, you need to understand the mill rate. The mill rate is a simple ratio of a dollar to each thousand dollars of the property’s value. A millage rate means that it is one-thousandth of the value. Mill rates differ among towns, cities and counties and are officially set by that governing body.

Formula
To figure out the property taxes for a property, take the value of the property, and multiply it by the mill rate. Then, just divide that total by 1, 000 for the property tax. For example, if a property is officially assessed at $200,000 value and the mill rate for that city was 10 mills, that property owner would pay $2,000 in property taxes for the year. This simple formula is how property taxes will be determined for your city or county.

Tax Assessor
The important and often subjective part of calculating property taxes is determining the value of the property. A tax assessor is someone who ascribes property tax value to property to determine the taxable amount. This value is usually different from the real estate value, although many people believe they are one and the same. Tax assessors usually work for the government directly or are contracted to work for city or county governments. For that reason, you need to factor in any improvements you made on the house because that might raise its property tax value.

Understanding the mill rate and the role of the tax assessor can help you either save up for your property taxes or avoid moving to an area with high property taxes. Either way, be sure to factor these taxes into your yearly budget if you are a homeowner.

Property Management: Maintenance and Repair

As part of the management team of the property, you will be responsible for scheduling maintenance and repair of the units on a daily basis if you manage a large property with many units. While this is only one aspect of the many responsibilities as part of the management team of the property, is fundamental.

There are times you have to give priority to repairing fixing first, on the basis of the importance of each. Have to recognize what constitutes an emergency situation that the repair may have to call a physician immediately and what can go in normal working order. Do you know how to handle the situation if a tenant calls to 5 minutes before closing on a Friday and says that air conditioning has stopped working?

While apparently not an emergency plumbing or heating, suppose you are in the worst of the summer, and the tenant informs you that you have a heart problem. Everything you want to do is go home and get your weekend starts, but this is one of those situations where experience counts. Do you know what the law says about this situation? Where was his supervisor for advice?

Again, for those of you who are already in the field of property management, you know the answer to these questions, or at least should. If you do not know, maybe it’s a good idea to know before the situation arises. For those who only consider a career in property management, however, these are some of the situations they face.

Unfortunately, there are those property managers who believe that this is an employment office with a pool. But they could not be further from the truth. The property managers are facing the very real story of the lives of people every day. Of course, there will be days when the biggest headache will be someone to complain about loud music in the unit next door. However, there will be many more days than the decisions you make affect the lives of people so that they can to interrupt their work, and your heart.

Investment property is an ideal option

Investment property is an ideal option, if a person wants his / her investment expansion. The owner has the privilege to update the property for his own desires, while the exclusive right to use it when he wants, for his own benefit.
properties of various types, such as personal property, real estate and intellectual property. All moving objects are classified as personal property, while all real property such as real estate or are called. The only difference between the two types is that moving objects can be amortized over time, while real estate is not real. Stocks, bonds and other financial products fall under the category of abstract property which is the personal property.
trademarks, copyrights and patents are the intellectual property rights. Each new invention or discovery of new mathematical theories or scientific, personal items, poems and other literary, artistic creation of new, or new concepts or ideas for product development of any business and many other things that were created by an individual user or group of persons or an organization are the intellectual property owner and the owner has the exclusive right to them. property owners are entitled to be placed on his property in its many flavors are available. The owner is free to sell, transfer or extract value from their property, for example. There are various measures of the law, who own a property must be provided. A mentally incompetent person or a small is usually not the owner. Arrangements may be different in different countries, but you’re not allowed to use a property to harm others. properties, public or private they can be. Public goods include the state or community, while private property by one person or group of persons or part of a business. By law a company, a company that has the right to property. Property can also be leased in the case of real or personal property. If the tenant can lease the particular property, but can not sell and the owners generally have no right to force you to leave the property before the lease expires. In the case of intellectual property, the owner of licenses to third parties. Stock Exchange there are certain qualities that not all owners, but they are protected by law. For example, sea water and seabed is generally not heard from anyone. Earth’s atmosphere, the universe, the heavenly bodies, planets and other galaxies and even the land of Antarctica is understood by anyone. Although not the owners, there are international laws, and no one can interfere with these properties. How good are wild animals and state property are protected by the state. For more information, visit Parmdeep Vadesha forum is a magnate community property, is well known that the largest online community of real estate investors today. See the various sections of the forum and see how you are.

Property Investment – Is It Right For You?

imageProperty investment has historically been one of the most popular and effective methods of investment available. This type of investment holds several unique advantages when compared to other investments. Here are a few things that make property investment such an attractive option.

Chiang Mai Real Estate

Buying real estate in Chiang Mai may be an excellent investment when you are considering retirement in Thailand. Chiang Mai has become a hub of activity for expats who wish to retire out of the rat race and to the countryside. Speak ot us today!
The Thai government will be investing billions in the infrastructure of Chiang Mai over the next few years. There are currently 5 major property and developmetal projects in Chiang Mai estimated to be well over USD 500 million in value. These include an international exhibition and convention centre project on a piece of land covering over 300 rai (about 120 acres). There is also a development project for road expansion to facilitate agricultural transport, a logistics system and a project to improve a local bus terminal in the provincial seat to support millions of incoming tourists.
The new Strong Thailand initiative started by the government to further develop Chiang Mai has been see as a vote of confidence that Chiang Mai will see even larger tourist volumes over the next few years. With larger tourist volumes Chiang Mai has gone from a sleepy town many years ago to an awakening giant. Property prices have not see a huge increase in Chiang Mai over the past 5 years but that is set yo change. Chiang Mai is still one town in Thailand where property investment is going to boom as well as the prices. Why not get in early and invest for the future.
Even in the middle of a global downturn property prices and housing developments in Chiang Mai has not taken a beating. The prices are stable and show a slight increase from the year before. What is of interest in Chiang Mai and the Real Estate martket is that two large Bangkok based property developers have purchased huge trakcs of land in Chiang Mai. This is an indication that property developement of the scale of Phuket might be in the pipeline.  A Dutch developer has already invested more than USD 90 million in a new shopping center in the area and clearly they see growth forward. The ‘Rose of the North’ is set to grow. If you wish to invest in Thailand where the property values are still low – look North!

The Blooming Real Estate of Gujrat

Gujrat is a prominent city of Pakistan and is acknowledged for its local industry, which feeds many major industries of Pakistan. From processed rice to electrical fans and from the best quality shoes to pottery, the items produced here serve the people all over the country. The temperature and soil conditions of Gujrat are perfect for the production of rice and sugar-cane.
Although pottery and ceramic goods are home to Gujrat but pedestal and ceiling fans remain the most popular local products. Terracotta Vases of Gujrat are famous all over Pakistan and feed the aesthetic needs of people in other prominent cities. Some other popular handicrafts of Gujrat include woollen shawls, embroidered clothes, hukkas, flowerpots, and cotton mates.
Because of being away from the central Punjab, Gujrat was ignored on infrastructural and developmental front. However, a lot of progress was witnessed during the mid of 2000s and many roads, colleges, health centres and other institutes of public service were constructed to benefit the citizen of Gujrat. All of these efforts increased the value of real estate of Gujrat in particular and that of Pakistan Real Estate in general.
Education sector remained the biggest beneficiary of development done in the mid and late 2000s. Gurjat is one of those cities of Pakistan, which fully reaped the fruits of Punjab Government’s “Parha Likha Punjab” scheme. As of Jan 2012, there are many universities and colleges in Gujrat including Hafiz Hayat Campus, Sharif Medical College and Fatima Jinnah College. The number of Govt. colleges, higher secondary schools, and primary education systems is also increasing along with better quality of education.
Gujrat has been home to many political, social and showbiz personalities but the prominent ones remained the war heroes of 1965 and 1971, who won Nishan-e-Haider and earned pride for the people as well as the city of Gujrat. Although Gujrat is mostly known for clay pots and electrical fans but its furniture industry is also very wide and extensive and caters to the need of people residing in different cities of Pakistan.
Various small and large-scale cottage industries operate throughout the District of Gujrat and provide employment to hundreds of thousand people residing here. Some of the known items produced in these cottage industries are electrical motors, electrical goods, and small tools used in electrical industries as well as rice cleaning mills. Almost 90% economy of Gujrat is regulated and supported through this cottage industry.
Various housing societies and residential schemes are adding value to the properties in Gujrat and meeting the modern residential requirements of the people. Some of these housing societies, including Euro City Housing Society and River Garden, are attracting much attention from the investors of Pakistan real estate and increasing the real estate value of the city.

Humphries Way Milton

This property has a letting arranged.
Located just to the north of the City in Milton, this modern first floor 2 bedroom furnished maisonette is ideally placed for access to Cambridge Science Park, the A14, A10 and M1 and is pleasantly situated in a quiet cul-de-sac, adjacent to Milton Primary School. Accommodation in brief comprises an independent front door with stairs leading to first floor, sitting room which is open to the modern kitchen. A double and single bedroom and bathroom with 3 piece suite and shower over bath. Communal parking area. SORRY, NO SHARERS
Facilities
Council Tax Band B
Gas fired heating
Double Glazed
Off road parking
Phone/Internet Point
Bath with shower over
Fridge
Freezer
Washing machine
Furnished

US is top 2012 property

The United States will remain the top choice of most global commercial real estate investors in 2012, but the country has lost ground to Brazil which ranked No 2 this year, according to a survey released Sunday.
While the United States offers the most stable and secure option in commercial real estate, investors said improvement in rent and occupancy growth and the repeal of a 1980 foreign investment tax would have the strongest impact on their investment decisions, according to the 20th annual survey of Association of Foreign Investors in Real Estate (AFIRE) members.
For about the past year or so, investors in US commercial real estate have focused on gateway cities such as New York, Washington, Boston, San Francisco and Los Angeles, driving prices up and yields down.
Meanwhile commercial property in Brazil, with its bubbling economy and safer investment environment, has become a hot spot for global investors. Sao Paulo, Brazil’s largest city, jumped to the fourth best city for real estate investment dollars in 2012, up from 26th place last year.
The United States is still very desirable and was second behind the UK in attracting cross border investment in 2011, according to Real Capital Analytics preliminary figures.
“The negative is it doesn’t promise a whole lot of capital appreciation because the prime markets are already fully priced,” AFIRE Chief Executive Officer James Fetgatter said. “By no means will Brazil replace the US, at least not in the forseeable future. Brazil is considered now a much safer place to invest and a place where you can get capital appreciation and good yield.”
AFIRE’S survey respondents hold more than $874 billion of real estate globally, including $338 billion in the United States.
Sixty 60 per cent of respondents said they plan to increase their investment in US real estate in 2012, down from a record 72 per cent last year, according to the 20th annual survey.
Some 42.2 percent said they believed the United States in 2012 would offer the best opportunity for the price of their commercial real estate investments to increase, down from 64.7 percent last year’s survey.

The United States lost ground to Brazil, with 18.6 per cent saying Brazil’s property market offered the best growth opportunity for their investment dollars. That’s up 14.2 percentage points, moving Brazil up to second place from fourth, and pushing China down to No 3, according to the AFIRE survey.

Seventy per cent of respondents picked one of the three countries as their favorite, while the remaining 30 percent had top choices from 13 other countries on five continents.

Respondents said they would invest more in US commercial property if the fundamentals of rent and occupancy growth were stronger.

Another US barrier respondents cited was the Foreign Investment in Real Property Tax Act (FIRPTA). The 1980 act, originally designed to protect farm property from foreign ownership, subjects foreign buyers to both their domestic and US taxes when they sell their investment, unless their home country has a taxation treaty with the United States.
FIRPTA opponents have argued that the act unfairly penalizes foreign investors of real estate. Such double taxation does not apply if they buy U.S. stocks or bonds
As for the top cities for foreign investment in 2012, New York remained No 1. London moved up to No 2 from No 3, swapping ranks with Washington. Sao Paulo was fourth, and San Francisco moved up to No 5 from No 10 last year.
Europe’s sovereign debt problems and looming recession pushed most of the countries there – except for a few such as Switzerland and Poland – off the map for real estate investors. Germany lost about half its support among respondents in terms of stability and price appreciation, according to the survey.
Emerging markets also seem to be getting more popular among potential investors. Respondents identified 25 countries they would consider for investment, up from 18 last year. Brazil topped the list, with China in second place, as each did last year. Turkey moved up to No 3 from No 7 last year. India and Vietnam each dropped down one spot, to No 3 and No 4 respectively. Appearing for the first time were Colombia, at No 10, Hungary at No 12, and Qatar at No 17.
As for US commercial real estate, respondents said that this year they would most likely invest in apartment buildings, the fourth consecutive year multifamily topped the list. Of all the types of US commercial real estate, the multifamily sector has not only recovered from the post-2007 real estate slump but rents and occupancy are even stronger than before.
Warehouse and distribution centers ranked second, up from No 5 last year. Office properties were third, up a notch from No 4. Retail properties – shopping centres and malls – slipped to No 4 from No 2. Hotels ranked No 5, down from No 3 last year.

How to Own A Property With Low Income

Buying a property isn’t easy and its not affordable by everyone. As the overall world’s economy is shuffling and facing ups and down, similarly salary people are also apart of such ups and downs. Are you willing to buy property of your dream? Lets see what you need to consider as a low salaried personal.
Make up your mind tat what so ever happen you would be paying for the property you want to owe. See your feasibility, whether you can pay the whole handsome amount or going for recurring payments would be much easier for you to manage.

Ok! as a low salaried person, recurring fee would be a better option but which dealers would b much reliable to start with? More questions, more risk involved but you have to take it for your future sake.Try referring to few people, meet different dealers analyze them and find out the rates of the similar properties. So ready to invest? Lets go further then.

After selecting the agent or a dealer, visit the property physically and counter check all documents before handing over the initial payment. Well well you got your process started. I would suggest to visit your property every week to ensure it hasn’t been a fraud and take the dealer with you.
Do keep a record o your payments and receipts as a proof to avoid any fraud. Try not to delay any installment as dealers attitude may change. Make an agreement that the property would be handed over to you after half payment is done.

So after getting the authority start living their rather leaving it till the end of all payments and owe your own property for future living.

First National 2012 property outlook

Ray Ellis: Well we survey our 450 offices throughout Australia which covers from Broome to Hobart to Cairns, and our offices there gather local information of how they see the market going in their area. We then compile that as a national report. So rather than being an overview of Australia, it’s actually specifically detailed as to what is happening in your viewers’ area.

Melissa Beaumont Lee: And the report comes out twice a year, is that right?

Ray Ellis: Yes we do it at the beginning of the year and then we update it in June/July, so we can give another further summary of how the market is going.

Melissa Beaumont Lee: So what is the consensus outlook?

Ray Ellis: Well you can believe what you read in the papers, is that perhaps the market is softening a little bit and we’re seeing that. It’s certainly not returning to the glory days of five or six years ago, but we’re seeing a glimmer of hope that – as we say in real estate, it’s always a good time to buy and sell. And I think in the main, nationally we are over the worst of 2011.

Melissa Beaumont Lee: And what evidence do you see of a pick-up in confidence?

Ray Ellis: Well auction numbers in Melbourne and Sydney have improved on what was November and December figures, which means more people are out. The impact of the two rate reductions in November and December have now come into the market, and people have some confidence of moving back into the housing market, also the investment market. So there’s just a slight upsurge in buyer confidence and also coupled with the vendors are now realising that if a house is priced correctly, they do have an opportunity to sell.

Melissa Beaumont Lee: Now confidence can be fickle, what could derail the situation?

Ray Ellis: Well I think your viewers don’t have enough time today to go through what could derail the situation, but it’s the obvious ones.  I mean we just had a no reduction in interest rates this month and some of the banks have increased their rates. Whilst that doesn’t have a greater affect in the actual cost of a mortgage, it does have an effect on the confidence and this is what we need to see return to the market. Also the political situation in each State can cause a derailing of situations of confidence. In New South Wales we’ve seen the Government introduce some stamp duty, legislation increases. We’ve seen the Queensland Government keep their programs for first homebuyers go through till after the elections. So State Governments are certainly aware of what they need to do to improve conditions in the market, but the big bugbear everywhere in all States is stamp duty. That’s still a major amount of money that people have to look at when they are investing in a house. So any reduction in stamp duty over the coming years, will be very good news for buyers.

Melissa Beaumont Lee: Now to the markets. Where will the strongest growth come from?

Ray Ellis: It’s obvious to say the mining States are leading the Australian economy at the moment and housing conditions there are going very well. Even though Brisbane is still affected by the floods over a year ago, State-wide we’re seeing a major improvement there in house prices. But the major growth is very patchy, we’re seeing suburbs adjoining another suburb yet having two different results. And what that means, a house or an investment or a commercial property that is well priced, close to amenities and offers investment return, or offers the features of a home are selling. But you must be realistic on your price and not expect conditions of two years ago to be the norm. The average reduction in the median price around Australia in 2011 was just over three per cent. Yet in some areas it was 10 or 11 per cent. We’re not expecting those reductions anymore, but the growth opportunity is to factor in those reductions, have now occurred and it is the perfect time to buy.

Melissa Beaumont Lee: And Ray let’s look at each of the States starting with New South Wales. Is it expected to be solid again in 2012?

Ray Ellis: Yes in 2011 New South Wales came off a low base of transactions, so there was a marked improvement and that’s actually continuing in the first half of the year. Even though it’s only early February, we’re still seeing conditions improve. So New South Wales as a constant performer is going to go very well in 2012. Regional New South Wales is a great success story. That Singleton/Gunnedah area where the mining activity is huge, there having very good sales, very good conditions in the market for improvement in those areas. And that’s the same all throughout regional New South Wales. Again it’s patchy, but New South Wales from an investment point of view and now is the perfect time to buy a new home, because of the stamp duty requirements that the State Government has introduced.

Melissa Beaumont Lee: What about Sydney?

Ray Ellis: Sydney, the largest city in Australia had two or three years in the gloom. We had a State election here last year in 2011. That gloom has been lifted, the buyers are out, the vendors now have to be ready priced to sell and they will sell their property.

Melissa Beaumont Lee: And the A.C.T?

Ray Ellis: The A.C.T, the forgotten State or Territory sometimes – just a consistent performer, never has unemployment, always has growth, always cash in the economy, just bubbles along. And areas, particularly in new homes in A.C.T will be very strong this year.

Melissa Beaumont Lee: Now to Victoria?

Ray Ellis: Victoria had record years in ’08,’09 and ’10, subdued somewhat in 2011 and that really hasn’t picked up yet. Even though the auction clearance rates have improved in January and February, we still haven’t seen it go off markedly yet. But the doldrums of the middle of 2011 will not return to Victoria in 2012 and it’s a similar story in all capital cities. Well priced properties are selling in Victoria once the expectations are being met. At the end of 2011 in Victoria, the expectation between the buyer and the vendor was too great; that caused a reduction in auctions and a reduction in sales. We’re now seeing that gap being lessened and as a result, sales are occurring.

Melissa Beaumont Lee: Queensland?

Ray Ellis: Queensland as I’ve said earlier, the floods were only 12 months ago now but the market has been in the doldrums for some time in Queensland. We’re seeing an improvement in the Gold Coast; we’re seeing a slight improvement in the Sunshine Coast. Of course Brisbane, which only about 20 per cent of the city was affected by the floods, we haven’t seen those values come back yet but we’re seeing careful consideration. Good times have not returned to Brisbane yet or the majority of Queensland, but there’s definitely an opportunity that we won’t be in the doldrums like the end of 2009 or 2010 in Queensland.

Melissa Beaumont Lee: Heading west, what about the mining States of South Australia and Western Australia, and the Northern Territory?

Ray Ellis: Well that’s half of Australia Melissa in one fell swoop. South Australia is a constant performer, the mining activity in the north of that State is now coming online and towns like Whyalla, Port Pirie, Port Augusta, Port Lincoln are seeing the benefits of that. Adelaide because of its low population growth and its solid performing as an investment asset, continues to bubble along nicely. I always say every time to your viewers or any public forum, if you’re looking for a solid investment Adelaide is always your safe bet, as you don’t get the highs and lows. It’s a constant economy, no great ups and downs, good State to invest in South Australia. Northern Territory, we just had the biggest gas development announced in Australia’s history to go through Darwin. They’ll need an extra 5,000 homes over the next two or three years. Darwin’s proximity to Asia and Alice Springs feeds off this as well, also Katherine. Darwin has been a hotspot for a number of years now and there’s no reason for that to decline in any circumstances whatsoever. Again, Darwin’s a great investment. Western Australia continues to have a small population. Most people don’t know mining only employs about 200,000 people in Australia, yet manufacturing’s over a million people. But the towns like Port Hedland, Karratha and even Broome which has no direct access to mining, they are set for continuation of good times. Again, many houses have to be built, construction, fly-in/fly-out workers in those mining towns now want to live in those towns, we need more houses. Perth is on the radar for being in increase in value this year because they’ve had two or three years of decline, after substantial growth of ’07 and ’08. So don’t underestimate Perth as not the highflyer it was back in ’07 and ’08, but again because it’s been in doldrums, we’re seeing a small increase of activity and a small increase in prices there. So I’ve got high expectations for Perth in 2012.

Melissa Beaumont Lee: And not forgetting Tasmania?

Ray Ellis: We can never forget Tasmania the Apple Isle. What Tasmania represents is a solid base for owning a home or investing in a home. You’ll not achieve the highs and lows perhaps of Sydney or Melbourne, but it’s an affordable marketplace to get in. Tasmania outside the two major cities is dotted with beautiful liveable towns. Burnie on the northwest of Tasmania – a wonderful town, good manufacturing, close to beaches and well-priced properties, so in Tasmania you’re getting safe and secure. If you think like the hare and the tortoise, Tasmania is a tortoise – always shows good returns.

Melissa Beaumont Lee: Can you give us some examples of towns that are on the move?

Ray Ellis: Well Singleton in New South Wales is a great example; we’ve had record months there since October. We cannot keep up with the demand there, supply is tight and that’s benefitting off the mining experience here in New South Wales, which seems to be a common thread throughout Australia. It’s the same situation in Port Hedland; demand is outstripping supply – good position to be in but hard when you want people to move into those areas. In Port Hedland for example, they’re building a little enclave of half a dozen exclusive homes close to the beach, just to attract doctors to that town. So different cities are doing different things to increase their supply, and of course the fly-in and fly-out workers as I said earlier, want to now live in these towns. Bendigo in Victoria continues to be a solid performer because like a lot of regional cities, they’re now receiving the benefits of the outflow of people from the major cities seeking a better lifestyle, in that towns now have all the facilities you’d expect from a big city. And of course if you go through all the major suburbs in Australia, there are pockets that are doing very well that are too numerous to mention here now. But if your viewers log on to matlidigital.com.au, we always list which are the hot properties in various suburbs around Australia.

Melissa Beaumont Lee: And finally, what about the commercial sector?

Ray Ellis: Commercial sector’s been interesting the last couple of years. In the major capital cities of say Sydney and Melbourne, anything over $5 million has been hard to move – hard to find the buyers for that. Anything under $5 million has been a good solid growth there as small business enters the market and needs commercial space, a lot of commercial space wasn’t built. Of course the Energy Efficiency Acts, the Essential Services Act for example of Victoria is going to have an impact on landlords and rent, so we’re seeing some growth in rents at the moment. But the impact of that legislation is yet to be felt across the commercial sector because basically, the commercial sector doesn’t know how to deal with the cost associated with those provisions. But commercial, always a strong performer in Australia – hasn’t been a standout the last couple of years, but as new stock comes onto the marketplace, we should see an upsurge in the commercial activity.

Melissa Beaumont Lee: Ray Ellis thanks for sharing the results of the survey.

Ray Ellis: Pleasure. And I hope your viewersobtained some good information today and continue to tune into Finance News Network for their information of property market, or if they can’t get on to there, matlidigital.com.au. Thank you Melissa.

Calculate Property Taxes

If you can calculate property taxes for your real estate, you can better plan your yearly budget. If you are purchasing a new home or simply want to find out for the upcoming year, there are some things you should know before you set out to calculate property tax.

What Is Property Tax?
Before you plan to make property tax payments, it might be helpful to understand the definition of property as the government sees it. Property is generally broken into three categories. Land is the first category, and it generally means undeveloped, grazing or farm land. Improved land is property with dwellings on them (either residential or commercial). The final category is personal, and includes items that can be transported (such as boats or RVs). When property is assigned a value, the government can tax it.

Mill Rate
When thinking about property taxes, you need to understand the mill rate. The mill rate is a simple ratio of a dollar to each thousand dollars of the property’s value. A millage rate means that it is one-thousandth of the value. Mill rates differ among towns, cities and counties and are officially set by that governing body.

Formula
To figure out the property taxes for a property, take the value of the property, and multiply it by the mill rate. Then, just divide that total by 1, 000 for the property tax. For example, if a property is officially assessed at $200,000 value and the mill rate for that city was 10 mills, that property owner would pay $2,000 in property taxes for the year. This simple formula is how property taxes will be determined for your city or county.

Tax Assessor
The important and often subjective part of calculating property taxes is determining the value of the property. A tax assessor is someone who ascribes property tax value to property to determine the taxable amount. This value is usually different from the real estate value, although many people believe they are one and the same. Tax assessors usually work for the government directly or are contracted to work for city or county governments. For that reason, you need to factor in any improvements you made on the house because that might raise its property tax value.

Understanding the mill rate and the role of the tax assessor can help you either save up for your property taxes or avoid moving to an area with high property taxes. Either way, be sure to factor these taxes into your yearly budget if you are a homeowner.

Surging Chinese property prices stoke bubble fears

Property prices in Chinese cities rose at the fastest pace in 16 months in November, the government said Thursday, amid growing concerns about bubbles building in real estate.

Property prices in 70 medium and large cities rose 5.7 percent in November from a year ago, the biggest jump since July 2008, figures from the National Bureau of Statistics showed. It was the sixth successive year-on-year increase following a slump dating from December last year when the government attempted to rein in runaway prices and as the global economic crisis kicked in.

After trying to cool the market a year ago, Beijing this year responded to the economic crisis with tax breaks and other measures to prop up the property sector, which accounts for more than 20 percent of urban fixed investments. But concerns are rising that bubbles are building in real estate due to rampant speculation.

The house price-to-income ratio — the ratio of the median market home price and the median annual household income — is expected to hit 8.3 in China this year, the Chinese Academy of Social Sciences said in a report on Monday. A rational range is between three and six, the think tank said.

In response to mounting public complaints about excessively high house prices, the government said this week it would curb speculative home purchases next year — possibly by restricting bank loans to the sector. In policies announced this week, Beijing said sales of homes by individuals will be exempt from paying tax only after at least five years of ownership, instead of two years previously.

A Closer Look At Global Property Markets

Indices make a useful way to track market sectors.  Property is one example.  The FTSE EPRA/NAREIT Global Real Estate Index Series is a set of indices that let investors keep track of different regions of the global property market.

(EPRA = European Puplic Real Estate Associateion.  NAREIT = National Association of Real Estate Investment Trusts.)

Conveniently, many of the FTSE EPRA/NAREIT property indices are tracked by iShares ETFs.

My Credit Monitor


MyCreditMonitor allows you to check your credit score and provides advice on how to improve it in order to get better deals when applying for loans, credit cards or mortgages