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REAL because they live and invest in their communities. So they know where the opportunities are to assist you in your lifelong property journey. From your first rental home to your dream home and even growing a property portfolio.
What is REAL is we continuously update our cutting-edge property technology and systems across all aspects of our business operations.
In combination with our innovative property marketing, we can achieve the REAL RESULTS you want.
This is the key to our REAL SERVICE because these systems provide our teams more time to REALLY LISTEN to your personal property needs and deliver the service you want every time.
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Remembrance Day
In honour of Remembrance Day 2024 we take part in one minute silence at 11 am, on this day the 11th November 2024. We stand, in silence, where ever we are and mark this occasion together. We will remember them Remembrance Day 2024 Lest We Forget. ...
Navigating the Skilled Trades Shortage: Rising Costs and Construction Delays in 2024
The Housing Industry Association (HIA) continues to highlight the significant shortage of skilled tradespeople in Australia, describing it as “the most significant shortage on record.” Current Market Position According to HIA Economist Angela Lillicrap, all trades have experienced a decline in availability. Bricklaying, carpentry, joinery, roofing, general building, and other trades are facing severe shortages. This shortage is driven by a surge in detached house construction and renovations, which has led to skyrocketing demand for land, labour, and materials. As a result, construction timeframes are being extended, and there is no immediate relief in sight. The demand for skilled trades is expected to remain high throughout 2024 and beyond1. Rising Construction Costs The challenge for home builders and those planning home improvements extends beyond the shortage of tradespeople. The latest data shows that construction costs have continued to rise. The Cordell Construction Cost Index indicates a national increase of 7.3% last year, the highest annual hike since March 20052. This spike is driven by increased demand and supply chain disruptions, leading to a severe shortage of materials. Be Prepared Rising building costs and a shortage of tradies could impact your building project. Here are some tips to help you prepare: Check Contracts: Before signing a building contract, ensure you understand how the builder can pass on any cost blow-outs. Realistic Timeframes: Discuss realistic construction timeframes with your builder. Budget for Increases: For DIY projects, allow room in your budget for unexpected cost increases. Finance Options It’s crucial to talk to your mortgage broker about finance options for new builds or renovations. Construction loans, also known as owner-builder loans, differ from regular home loans. They provide funds in stages as construction progresses, known as progress payments3. For home makeovers, you might be able to draw on your home equity through a loan top-up or refinancing, which can help preserve personal savings. The key is to approach any building project with your eyes wide open. Speak to your mortgage broker to understand the finance options available to help you get started on your project....
Lenders' mortgage insurance could help gain entry into the buyer's circle
For first-home purchasers, entering the buyer’s circle can seem overwhelming. A report by mortgage insurer Genworth found 76.9 per cent of prospective first-home buyers believe that saving for a deposit is becoming increasingly difficult. The same study shows that four in five (82.7 per cent) first-home buyers who plan to buy with less than a 20 per cent deposit are likely to use some form of mortgage insurance. Saving consistently to build a deposit is only one rung on the property ladder. But rising house prices often get in the way of progression. Lenders’ mortgage insurance (LMI) could offer an achievable solution. With housing values appreciating faster than the cost of LMI, it can make financial sense to buy today and pay LMI, rather than holding out to save a bigger deposit only to end up paying more for a first home later. What is lenders’ mortgage insurance? Lenders’ mortgage insurance is usually a one-off payment made by the borrower at the time of loan settlement. Here is an LMI summary: LMI is a type of insurance you can expect to pay if you borrow more than 80 per cent of your home’s value. LMI protects the lender – not the borrower. You don’t need to arrange LMI yourself – your lender will arrange it for you. It’s possible to save on LMI by accruing a bigger deposit. How much does it cost? This depends on where you borrow, your lender and the size of your deposit. Your broker can show you how to calculate mortgage insurance for your circumstances. As a guide to the cost, Genworth features an online LMI estimator. It shows that a first-home buyer who purchases a property worth $500,000 with a 10 per cent deposit of $50,000 (and a home loan of $450,000) could face an LMI premium of about $8,600. To avoid LMI altogether, the first-home buyer could save the extra $50,000 needed to have the full 20 per cent deposit of $100,000. But this will take time. And if property values climb higher, it becomes even harder to amass a 20 per cent down payment. By getting into the market now, rather than waiting, the first-home buyer may pay $8,600 in LMI but they will pay $500,000 for their home, rather than waiting a year (or more) and paying $550,000 – a difference of $50,000. In this way, LMI can be a valuable tool that helps first-home buyers beat rising property prices. How LMI works LMI is a type of insurance that applies if you have less than a 20 per cent deposit. First-home buyers don’t have to shop around for LMI; your lender will arrange it for you. The catch is that LMI protects the lender – not you – if you can’t keep up the home loan repayments. So it’s often seen as a cost to avoid, especially as the one-off premium can be a substantial initial expense. Managing the cost of LMI Of course, all this doesn’t get around the fact that LMI premiums can be very high. However, there is a way to manage the cost. Your lender may let you add the premium to your home loan in a process called ‘capitalising’ LMI. This allows you to pay off the cost gradually as part of your regular loan repayments. For further details about how LMI may work for you, contact your insurance broker or financial advisor....
Affordability and the intergenerational puzzle
A solution to the housing affordability puzzle could be on our doorstep. Official sources report that baby boomers (born 1946 to 1964) account for a quarter of the population, but they possess more than half the nation’s wealth. Analysts suggest that the boomers have been the beneficiaries of a 50-year economic miracle, and they are unlikely to ease out of this accumulating any time soon. Hope springs eternal for emerging generations But there is hope for the emerging generations whose wealth has stagnated. The households of Australians aged 55-plus currently own a combined $2.8 trillion and over the next decade will pass on much of this. By the time they move from the growing to the spending side of this accumulation, it will have exceeded the more than $3 trillion level. Therefore, the next 10 years at least will see the biggest intergenerational wealth transfer in Australia’s history and many of the younger generations will be the main beneficiaries. The revelation is nothing new as financial experts have spoken of the importance of planning. In terms of wealth creation, frugality was the cornerstone for most adults in the 1930s through to the 1950s. Their children grew up with a far less stringent attitude to money. The post-war generation — today’s baby boomers – reaped the benefits of their parents ‘work hard and save’ ethic. This concept has more than paid off. The figure of national property assets that are likely to change hands by 2025 is estimated at more than $400 billion. Piecing together the wealth transfer puzzle A combination of rising property prices, an ageing population and high homeownership rates will produce a perfect storm with record intergenerational wealth transfer or inheritance. Industry data shows that the wealthiest Australians were elderly couples whose net worth had surged 70 per cent in the previous two decades – largely due to the appreciation in house prices and changes in the superannuation arrangements. Interestingly, Australians pocketed a 21 per cent increase in pay during this period, but families were paying twice as much for childcare and were relying more on grandparents as carers. More than a quarter of families rely on grandparents for an average of 14 hours of care each week. Not much has changed since then. With one in 10 homes tipped to be given away, housing inheritance is predicted to more than double by the year 2025. Of course, there are variables (releasing equity, aged care, improvements in life expectancy and housing debt) in the equation. But it’s reasonable to expect that the value of wealth transfer will only rise exponentially. Beware: inheritance is not always guaranteed The inheritance that may never come is another issue for Generation Y. Affordability studies show that around 90 per cent of Gen Y aspire to own their home, but the gap between their deposit and what was required was the biggest barrier. The average deficit was $50,000. Of those Gen Ys already in their own home, 38 per cent received financial assistance from parents or grandparents. But for those yet to enter homeownership, almost 60 per cent felt they were unlikely to receive any intergenerational assistance and, consequently, stop them from ever entering homeownership. Also complicating the equation is that Australians are buying their first home at an older age. The downside to this is that they could still be paying off their home when they reach retirement age, meaning the transfer of wealth to children was also unlikely....
Remembrance Day
In honour of Remembrance Day 2024 we take part in one minute silence at 11 am, on this day the 11th November 2024. We stand, in silence, where ever we are and mark this occasion together. We will remember them Remembrance Day 2024 Lest We Forget. ...
Navigating the Skilled Trades Shortage: Rising Costs and Construction Delays in 2024
The Housing Industry Association (HIA) continues to highlight the significant shortage of skilled tradespeople in Australia, describing it as “the most significant shortage on record.” Current Market Position According to HIA Economist Angela Lillicrap, all trades have experienced a decline in availability. Bricklaying, carpentry, joinery, roofing, general building, and other trades are facing severe shortages. This shortage is driven by a surge in detached house construction and renovations, which has led to skyrocketing demand for land, labour, and materials. As a result, construction timeframes are being extended, and there is no immediate relief in sight. The demand for skilled trades is expected to remain high throughout 2024 and beyond1. Rising Construction Costs The challenge for home builders and those planning home improvements extends beyond the shortage of tradespeople. The latest data shows that construction costs have continued to rise. The Cordell Construction Cost Index indicates a national increase of 7.3% last year, the highest annual hike since March 20052. This spike is driven by increased demand and supply chain disruptions, leading to a severe shortage of materials. Be Prepared Rising building costs and a shortage of tradies could impact your building project. Here are some tips to help you prepare: Check Contracts: Before signing a building contract, ensure you understand how the builder can pass on any cost blow-outs. Realistic Timeframes: Discuss realistic construction timeframes with your builder. Budget for Increases: For DIY projects, allow room in your budget for unexpected cost increases. Finance Options It’s crucial to talk to your mortgage broker about finance options for new builds or renovations. Construction loans, also known as owner-builder loans, differ from regular home loans. They provide funds in stages as construction progresses, known as progress payments3. For home makeovers, you might be able to draw on your home equity through a loan top-up or refinancing, which can help preserve personal savings. The key is to approach any building project with your eyes wide open. Speak to your mortgage broker to understand the finance options available to help you get started on your project....
Lenders' mortgage insurance could help gain entry into the buyer's circle
For first-home purchasers, entering the buyer’s circle can seem overwhelming. A report by mortgage insurer Genworth found 76.9 per cent of prospective first-home buyers believe that saving for a deposit is becoming increasingly difficult. The same study shows that four in five (82.7 per cent) first-home buyers who plan to buy with less than a 20 per cent deposit are likely to use some form of mortgage insurance. Saving consistently to build a deposit is only one rung on the property ladder. But rising house prices often get in the way of progression. Lenders’ mortgage insurance (LMI) could offer an achievable solution. With housing values appreciating faster than the cost of LMI, it can make financial sense to buy today and pay LMI, rather than holding out to save a bigger deposit only to end up paying more for a first home later. What is lenders’ mortgage insurance? Lenders’ mortgage insurance is usually a one-off payment made by the borrower at the time of loan settlement. Here is an LMI summary: LMI is a type of insurance you can expect to pay if you borrow more than 80 per cent of your home’s value. LMI protects the lender – not the borrower. You don’t need to arrange LMI yourself – your lender will arrange it for you. It’s possible to save on LMI by accruing a bigger deposit. How much does it cost? This depends on where you borrow, your lender and the size of your deposit. Your broker can show you how to calculate mortgage insurance for your circumstances. As a guide to the cost, Genworth features an online LMI estimator. It shows that a first-home buyer who purchases a property worth $500,000 with a 10 per cent deposit of $50,000 (and a home loan of $450,000) could face an LMI premium of about $8,600. To avoid LMI altogether, the first-home buyer could save the extra $50,000 needed to have the full 20 per cent deposit of $100,000. But this will take time. And if property values climb higher, it becomes even harder to amass a 20 per cent down payment. By getting into the market now, rather than waiting, the first-home buyer may pay $8,600 in LMI but they will pay $500,000 for their home, rather than waiting a year (or more) and paying $550,000 – a difference of $50,000. In this way, LMI can be a valuable tool that helps first-home buyers beat rising property prices. How LMI works LMI is a type of insurance that applies if you have less than a 20 per cent deposit. First-home buyers don’t have to shop around for LMI; your lender will arrange it for you. The catch is that LMI protects the lender – not you – if you can’t keep up the home loan repayments. So it’s often seen as a cost to avoid, especially as the one-off premium can be a substantial initial expense. Managing the cost of LMI Of course, all this doesn’t get around the fact that LMI premiums can be very high. However, there is a way to manage the cost. Your lender may let you add the premium to your home loan in a process called ‘capitalising’ LMI. This allows you to pay off the cost gradually as part of your regular loan repayments. For further details about how LMI may work for you, contact your insurance broker or financial advisor....
Affordability and the intergenerational puzzle
A solution to the housing affordability puzzle could be on our doorstep. Official sources report that baby boomers (born 1946 to 1964) account for a quarter of the population, but they possess more than half the nation’s wealth. Analysts suggest that the boomers have been the beneficiaries of a 50-year economic miracle, and they are unlikely to ease out of this accumulating any time soon. Hope springs eternal for emerging generations But there is hope for the emerging generations whose wealth has stagnated. The households of Australians aged 55-plus currently own a combined $2.8 trillion and over the next decade will pass on much of this. By the time they move from the growing to the spending side of this accumulation, it will have exceeded the more than $3 trillion level. Therefore, the next 10 years at least will see the biggest intergenerational wealth transfer in Australia’s history and many of the younger generations will be the main beneficiaries. The revelation is nothing new as financial experts have spoken of the importance of planning. In terms of wealth creation, frugality was the cornerstone for most adults in the 1930s through to the 1950s. Their children grew up with a far less stringent attitude to money. The post-war generation — today’s baby boomers – reaped the benefits of their parents ‘work hard and save’ ethic. This concept has more than paid off. The figure of national property assets that are likely to change hands by 2025 is estimated at more than $400 billion. Piecing together the wealth transfer puzzle A combination of rising property prices, an ageing population and high homeownership rates will produce a perfect storm with record intergenerational wealth transfer or inheritance. Industry data shows that the wealthiest Australians were elderly couples whose net worth had surged 70 per cent in the previous two decades – largely due to the appreciation in house prices and changes in the superannuation arrangements. Interestingly, Australians pocketed a 21 per cent increase in pay during this period, but families were paying twice as much for childcare and were relying more on grandparents as carers. More than a quarter of families rely on grandparents for an average of 14 hours of care each week. Not much has changed since then. With one in 10 homes tipped to be given away, housing inheritance is predicted to more than double by the year 2025. Of course, there are variables (releasing equity, aged care, improvements in life expectancy and housing debt) in the equation. But it’s reasonable to expect that the value of wealth transfer will only rise exponentially. Beware: inheritance is not always guaranteed The inheritance that may never come is another issue for Generation Y. Affordability studies show that around 90 per cent of Gen Y aspire to own their home, but the gap between their deposit and what was required was the biggest barrier. The average deficit was $50,000. Of those Gen Ys already in their own home, 38 per cent received financial assistance from parents or grandparents. But for those yet to enter homeownership, almost 60 per cent felt they were unlikely to receive any intergenerational assistance and, consequently, stop them from ever entering homeownership. Also complicating the equation is that Australians are buying their first home at an older age. The downside to this is that they could still be paying off their home when they reach retirement age, meaning the transfer of wealth to children was also unlikely....