Posted in Blog on 2nd June, 2017 | No Comments »

The Budget will have a Positive Influence on the Geelong Market
 

 

Federal budget hype always creates some unease in the market place, causing speculation and hesitation. I have tried to provide an insight in to how this year’s budget will influence Geelong’s property market.

 

Geelong is the anticipated recipient of close to 20% of the $516 million budgeted for regional rail maintenance and upgrades to the Geelong and Warrnambool lines. The first stage is the duplication of tracks between South Geelong and Waurn Ponds, with a future line to Torquay. The first stage will have a strong influence on the Armstrong Creek Growth precinct, Marshall and the Waurn Ponds housing markets. Armstrong Creek, Warrililly, Warrilily Coast and Armstrong estates are on the South Side of Geelong and the 20-minute drive to South Geelong or the Geelong Station restricts the desirability of living in the new housing estates. The result of increased train services brings these estates closer into town, offering an affordable housing alternative, increasing buyer desirability which will have a positive influence on pricing and demand.

 

15 local primary Schools will be the recipients of a combined $21million, which will be utilised to upgrade and … Read more »

Posted in Blog on 5th May, 2017 | No Comments »

Some Welcomed Incentives for First Home Buyers
 

 

 

July 1st brings first home buyers some welcomed incentives. The initiative is 2-fold and offers advantages to those purchasing existing homes, along with new builds. It will give first home buyers a helping hand, by reducing the upfront costs of purchasing a home.  The exemption and concession are applicable to contracts signed from 1st July 2017, not for homes purchased before and settling after this date.

 
How it works! First home buyers purchasing properties valued below $600,000 will be exempt from paying stamp duty. Purchases between $600,000 and $750,000 will receive a concession on a sliding scale. The first home owners grant will be increased from $10,000 to $20,000 for new house purchases in regional areas, the City of Greater Geelong is classified as a regional area. This allows for new home builds and purchases of values up to $750,000.

 
The criteria to qualify for the exemption or concessions will be closely policed by the State Revenue Office and they can be contacted on  13 21 61 for criteria clarification.

 
This announcement has a positive influence on the market both pre and post implementation. An increase in competition will occur … Read more »