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  • Banks and Mining Towns Formula 1 Finance
    that these yields are not sustainable the Bank will be capping rental yields at 8 By capping the rental yield we are proactively moving to minimise the risk to customers defaulting on their loan while supporting brokers in maintaining their customer portfolio What they didn t mention is that many investors have bought investment properties purely on the premise that the advertised rental would last possibly for decades CBA has changed both their credit and postcode policies over the past few months to further mitigate any impending risk Investors would be wise to take note The risk of investors defaulting on their loans is increasing amongst those investors with investment properties in mining towns and especially in light of increasing interest rates Banks know this they definitely know their game better than anyone else You want proof Check their annual profits Their job is to minimise their risk and maximise their profits CommBank is taking action now it won t be long before other lenders follow CBA statement On Monday 25 November 2013 all Home Loan Investment Home Loans and Lines of Credit reliant on rental income from a residential security for servicing must not exceed the 8 rental yield All applications including Home Seeker decisioned after Sunday 24 November 2013 will be subject to the new rental yield cap Customers who earn greater than 8 p a rental yield must be advised that the Bank can only use the maximum of 8 p a rental yield for servicing Brett Colley 365 Posts Brett has been involved in management in the finance industry for over 13 years Brett s diverse experience in finance real estate developments and all facets of the construction industry confirms Formula 1 Finance to be an innovative professional finance broking firm On December 3 2013 Bank

    Original URL path: http://www.formula1finance.com.au/finance-news/banks-mining-towns-rental-yields/ (2014-01-04)
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  • Houses outperform units in capitals Formula 1 Finance
    11 1 per cent Between October 2003 and October 2008 house values increased at an average annual rate of 4 9 per cent compared to 3 6 per cent for units It will be interesting to see if the higher level of growth reverts to units in Sydney and Melbourne over the coming year as selling prices rise and affordability becomes more challenging for detached housing Once we start to see a rise in interest rates we may also see the dynamics shift Although a majority of dwelling approvals were for houses 42 4 per cent over the 12 months to September 2013 the proportion of unit approvals is growing In 1993 29 6 per cent of dwelling approvals were for units and by 2012 this had increased to 38 9 per cent Dwelling approvals data over the past 12 months across the capital cities show that higher density living in the major capital cities would be a central feature in the future More than 50 per cent of all approvals in Sydney Melbourne Brisbane Darwin and Canberra were for units as opposed to houses over the 12 months to September 2013 That while many Australians aspired to owning a house rather than a unit in reality it was becoming more and more difficult Added to this is that affordable housing tends to be quite a distance from the CBD area As a result we are seeing a rising prevalence of higher density construction in our major capital cities particularly within inner city areas Current market conditions may lead to stronger demand from both investors and tenants and subsequent stronger levels of value growth for units as opposed to houses over the coming years Brett Colley 365 Posts Brett has been involved in management in the finance industry for over

    Original URL path: http://www.formula1finance.com.au/finance-news/houses-outperform-units-capitals/ (2014-01-04)
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  • Queensland house prices Formula 1 Finance
    numbers of house sales in Brisbane increased 13 per cent over the quarter and was up 18 per cent over the year The Queensland market had been posting promising results for the past year there was now no doubt that a majority of the market was well into a growth phase Unfortunately the Queensland market has never been consistent across the board We often experience phases of recovery and growth in some regions while other areas simultaneously experience patches of more stable activity Of course our mining districts were performing exceptionally while the majority of the state remained in the doldrums not that long ago So it s good to see that we all still get a turn at the good times at some point in time Unlike Sydney and Melbourne which appeared to experience levels of relatively unsustainable price growth the Queensland market was taking a more measured approach The majority of our regions experienced mostly unchanged median prices over the September quarter although over the year we are starting to see some healthy median increases It s also important to remember that house prices in Queensland still remain slightly below their most recent peak so we are not talking about significant gains taking place over short timeframes Given the price increases in the southern states there is no doubt that Queensland remains one of the most affordable places to buy or invest in property Brett Colley 365 Posts Brett has been involved in management in the finance industry for over 13 years Brett s diverse experience in finance real estate developments and all facets of the construction industry confirms Formula 1 Finance to be an innovative professional finance broking firm On November 28 2013 Budget Enconomy Finance News Financial goals House prices Inflation Wealth Comments Off Comments are

    Original URL path: http://www.formula1finance.com.au/finance-news/positive-return-qld-market/ (2014-01-04)
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  • Whats happening with Vacant Land Sales? Formula 1 Finance
    in Gladstone in and around Hervey Bay on the Sunshine Coast Gympie in Brisbane the Whitsundays Average lot sizes have shrunk in most locations so whilst the overall land price has fallen the rate per square metre of the land sold continues to rise For example in Brisbane it typically costs about 700 per sqm to buy residential dirt and yet whilst overall land prices dropped about 7 last year the rate per sqm increased by about 50 Land values rose in Mackay Issac Clermont Dysart Moranbah in fact up by 17 or 21 000 to 145 000 for a 600 sqm allotment in Rockhampton on the Gold Coast wow now you are rocking the boat in Logan Toowoomba and across the Western Southern Downs Dalby Warwick etc More statistics The most expensive allotments for sale are in Brisbane 295 000 per allotment followed by Redlands 264 000 Gold Coast 240 000 the Sunshine Coast 235 000 The cheapest dirt is around Warwick 110 000 then Gympie 119 000 Lockyer Valley Gatton Laidley 130 000 and Bundaberg 144 000 Typical new house land packages being three or four bedrooms two bathrooms double garage usually sized between 200 250 sqm range from 545 000 in Brisbane to 235 000 in Gympie 17 out of Queensland s 25 larger urban municipalities have land typically priced under 200 000 with ten locales having a median land value under 150 000 Nearly all Queensland municipalities have new house land packages available under 400 000 some of which are located in SEQ in key regional markets New housing of this nature isn t unaffordable in Queensland Finally the typical allotment across urban Queensland ranges in size from 424 sqm in Brisbane to 1 714 sqm in the Scenic Rim old Beaudesert Shire Gone are the days of the traditional 800 sqm allotment Only four Queensland municipalities have a wide choice of vacant land over 800 sqm All locations except the Scenic Rim have seen allotment sizes fall in recent years Some have fallen by up to a third in size over the past five years Higher taxes charges plus centralised control of the subdividable land stock by a handful of major developers are behind this trend There is a demand for more convenient lot sizes but this demand is highest in more central locations Two suggestions I believe the Queensland land based market would be stronger i e more sales if there was more variety on the market Importantly this includes an increase in lot sizes wider frontages the clustering of smaller allotments around parks and the like away from larger homes bigger allotments In other words less salt n peppering of small lots through an estate Our polling suggests that potential buyers are put off by the mixture of housing lots throughout the estate Another thing which would help make more sales would be for more turn key product on the market A turn key property is one which is complete ready to move

    Original URL path: http://www.formula1finance.com.au/finance-news/whats-happening-vacant-land-sales/ (2014-01-04)
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  • Credit conditions restricting construction Formula 1 Finance
    of credit conditions would assist in new housing development An easing in credit conditions on the supply side of housing equations would assist a stronger recovery The tax and regulatory environment for residential development is currently a burdensome one New housing is the second most heavily taxed sector in the Australian economy The industry faces everything from excessive infrastructure charges to the costs of avoidable planning delays to cascading stamp duties at different points of the development process all the way along to the fact that since 2000 GST has been levied on new housing but not on existing properties So there is an inherent cost bias there as well This area is difficult and it is still an issue that must be looked at to ensure a sustained market recovery These are difficult problems to address and we acknowledge that But the fact is that the regulatory and taxation cost base is very high on new housing and that provides a real element of constraint HIA estimates that by 2050 Australians will need to have 180 000 new homes built every year as an absolute minimum to satisfy increasing demand It is fair to say that based on current policy settings that target looks highly unachievable Brett Colley 365 Posts Brett has been involved in management in the finance industry for over 13 years Brett s diverse experience in finance real estate developments and all facets of the construction industry confirms Formula 1 Finance to be an innovative professional finance broking firm On November 21 2013 Enconomy Finance News Financial goals House prices Inflation Rental Growth Stamp Duty Wealth Comments Off Comments are closed Finance News RBA rate announcement Banks Mining Towns and Rental Yields Houses outperform units in capitals Positive return for Qld market Whats happening with Vacant

    Original URL path: http://www.formula1finance.com.au/finance-news/credit-conditions-restricting-construction/ (2014-01-04)
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  • Housing Values Rise Formula 1 Finance
    000 the typical apartment costs 460 000 Capitals Home prices for the last 12 months year ending October rose by 12 in Sydney 8 in Melbourne 7 in Perth 4 in Canberra 3 4 in Brisbane 2 in Adelaide Home prices fell in Hobart Darwin both slightly Total returns change in median values gross rental returns averaged 13 for capital city houses 11 for apartments Brett Colley 365 Posts Brett has been involved in management in the finance industry for over 13 years Brett s diverse experience in finance real estate developments and all facets of the construction industry confirms Formula 1 Finance to be an innovative professional finance broking firm On November 14 2013 Enconomy Finance News Financial goals House prices Inflation Wealth Comments Off Comments are closed Finance News RBA rate announcement Banks Mining Towns and Rental Yields Houses outperform units in capitals Positive return for Qld market Whats happening with Vacant Land Sales Credit conditions restricting construction Housing Values Rise Housing Facts Rates on Hold New home sales at 2 year high Categories Australian Dollar Bank fees Bank Profits Budget Enconomy Finance News Financial goals First Home Buyer Government banking reform Home loan product House prices Inflation

    Original URL path: http://www.formula1finance.com.au/finance-news/housing-values-rise/ (2014-01-04)
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  • Brett Colley, Author at Formula 1 Finance Formula 1 Finance
    all facets of the construction industry confirms Formula 1 Finance to be an innovative professional finance broking firm Posts by Brett Colley RBA rate announcement December 3 2013 Enconomy Finance News House prices Inflation Interest rate Wealth Banks Mining Towns and Rental Yields December 3 2013 Bank Profits Budget Enconomy Finance News Financial goals Home loan product Inflation Interest rate Rental Growth Wealth Houses outperform units in capitals December 2 2013 Enconomy Finance News Financial goals House prices Inflation Interest rate Wealth Positive return for Qld market November 28 2013 Budget Enconomy Finance News Financial goals House prices Inflation Wealth Whats happening with Vacant Land Sales November 21 2013 Budget Enconomy Finance News Financial goals House prices Stamp Duty Wealth Credit conditions restricting construction November 21 2013 Enconomy Finance News Financial goals House prices Inflation Rental Growth Stamp Duty Wealth Housing Values Rise November 14 2013 Enconomy Finance News Financial goals House prices Inflation Wealth Housing Facts November 12 2013 Enconomy Financial goals House prices Inflation Wealth Rates on Hold November 5 2013 Enconomy Finance News Financial goals House prices Inflation Interest rate Wealth New home sales at 2 year high October 31 2013 Enconomy Finance News Financial goals House

    Original URL path: http://www.formula1finance.com.au/author/admin/ (2014-01-04)
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  • advice « Formula 1 Finance Formula 1 Finance
    advice advice advice Brett Colley 365 Posts Brett has been involved in management in the finance industry for over 13 years Brett s diverse experience in finance real estate developments and all facets of the construction industry confirms Formula 1 Finance to be an innovative professional finance broking firm Finance News RBA rate announcement Banks Mining Towns and Rental Yields Houses outperform units in capitals Positive return for Qld market

    Original URL path: http://www.formula1finance.com.au/?attachment_id=918 (2014-01-04)
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