Hot Property News on the Gold Coast and Surfers Paradise
Alan predicts huge growth in Gold Coast
Alan McGillivray, one of Australia's most respected property professionals, recently predicted the Gold Coast would soon out shine growth performances across other Australian cities.
'The Gold Coast has really come of age, said Alan today. We are seeing families settle on the Coast from all over Australia because of the weather, lifestyle, job prospects, and quality of public facilities. This is pushing demand up, and also the value of property.
Despite this growth, the standard of our beaches is still high, with tourists coming in from all over the world to enjoy our naturally white sandy beaches, and great surf. As a result, units are also in high demand.
It's a good time to purchase units and enjoy the growth the Gold Coast is enjoying'.
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Hot Property Issue 91
March 12, 2010
Property market is strong and investors are back
It's a week on since the Reserve Bank lifted the official cash rate by 25 basis points to 4%, and the major banks rates are now at about 7%.
But, as David Airey, president of the Real Estate Industry of Australia, said this week, there is still some time before we see any significant drop in demand for property.
It's expected that the official cash rate will settle at about 4.5% mid-year, but experts agree that the market will not feel any pinch for the remainder of the year and interest rate rises will be scarce until 2011.
Property is still in demand, and buyers are sensibly factoring interest rate increases into their budgets.
First home buyers may have dropped out of the market somewhat, but property investors are back in. In February, property investors accounted for 34.1% of all mortgages, showing investor confidence is strong and rising.
For more information on the increase of property investors in the market, check out the article in the side bar.
Or, if you would like to discuss the current market conditions, please feel free to call me on 07 5570 2300 or 0438 626 062, or email alan@alanmcgillivray.com.au.
Hot Property Issue 90
February 25, 2010
Make sure you are getting the best out of your investment property
If you own an investment property and have not been claiming depreciation, you could be missing out on thousands of dollars in deductions.
So what is depreciation?
As a building gets older, items wear out - they depreciate. The ATO allows property owners to claim this depreciation as a deduction. Depreciation can be obtained by any property owner who obtains income from their property.
I can put you in touch with a reputable, Australia wide tax depreciation company for obligation free advice about your property scenario.
Contact me at alan@alanmcgillivray.com.au or phone 0438 606 260 or 07 5570 2300.
Depreciation: key to profiting from your investment property
Many investment property owners are losing potential tax credits by failing to take full advantage of their property's tax depreciation potential.
Property tax depreciation is available to any property owner who obtains assessable income by way of rent or operates a business from a property.
Some of the key points regarding depreciation of investment properties include;
Any building irrespective of age will attract some claim for depreciation with respect to the plant & equipment items contained within the property including air conditioning, carpets, light fittings, etc;
Depreciation can also be claimed on the structure of building, depending on the year of its construction;
Depreciation and capital allowances can be backdated/amended for up to two years if previously unclaimed or not maximised.
The depreciation potential of an individual building will differ greatly depending on its age, use and original construction cost.
The maximisation of a depreciation claim on any building requires a unique combination of construction costing skills and experience combined with an intimate knowledge of Australian tax legislation.
Quantity Surveyors are recognised by the ATO under TR 97/25 as appropriately qualified to estimate construction costs of a building for tax purposes.
In addition to this ATO requirement, BMT Tax Depreciation specialise in maximising depreciation deductions for investment property owners.
Article Provided by BMT Tax Depreciation Pty Ltd.
Bradley Beer (B. Con. Mgt) is a Director of BMT Tax Depreciation.
Hot Property Issue 89
February 11, 2010
2010: It's time to achieve your goals
Now that we have settled into 2010, it's time to look at what your property goals are for this year.
If you currently own property on the Gold Coast: how is it going? Is it working for you? Are you receiving the rental returns you expected? It might be time to reassess how to get the most out of your unit. It may be that your unit is rented on a short term or holiday letting basis, and you need to consider renting it on a long term or permanent basis.
If you are looking at buying your first home or investment property, or expanding your investment portfolio, now is the time to look at how you can make it happen sooner for you. It could be that you need to be more active and make a purchase before June 30 to get the most from any tax concessions you are entitled to.
Whatever your goals for 2010 -- and as the principal of my agency -- I welcome the opportunity to assist you reach them.
Contact me at alan@alanmcgillivray.com.au or phone 0438 606 260 or 07 5570 2300.
Hot Property Issue 88
January 29, 2010
'Aloha' - SOLD - under the hammer at auction!
Our auction last weekend in the 'Aloha' complex was a great success. The property sold under the hammer, on site at the auction for $327,500.
The one bedroom, one bathroom fully furnished unit has magnificent views to the ocean, was just 200 metres to the beach and was situated on the 14th floor. It includes secure underground parking for one car.
This success is proof that when run well, auction campaigns really work. The result is a cash, unconditional contract for the vendor, and a buyer who knows they paid the fair market price.
If you are not using your unit on the coast as much as you used to, or are considering upgrading please give me a call to discuss the benefits of selling with auction.
Contact me with your questions at alan@alanmcgillivray.com.au or phone 0438 606 260 or 07 5570 2300.
Hot Property Issue 87
January 20, 2010
Say 'Aloha' to 2010
This Saturday Alan McGillivray Real Estate is auctioning a stunning property in the sought after 'Aloha' unit complex. The auction will be held on site at Unit 1406, 8 Trickett Street, Surfers Paradise at 12 noon.
The property features sweeping ocean views, smooth lines and calming interior design really make this an inspiring property.
If you have any queries about the property, would like to inspect, or would like to be informed of the result after the auction, please let me know. I'm available on mobile 0438 606 260, in the office on 07 5570 2300 or via email alan@alanmcgillivray.com.au.
As usual, we have a selection of properties featured below including rentals and commercial properties for lease. We also have the final step in our Top buying tips series with Step 4 focusing on the buying process. Hope you enjoy.
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