With end of financial year coming up soon, there isn't a better way to write off some of your forecasted tax payable than, you guessed it, purchasing a property with as much debt associated with it as possible!
Evidently, this has been the trend! Investors, property developers, first home buyers, second home buyers, downsizers... theyre all buying property! And the online auctions don't seem to be phasing them this time around. With properties selling at auction for WAY over reserve.
And now, were finding that sellers are wanting more! Prices are increasing, yes we are in the midst of a property pandemic boom! The property market seems to have bounced back to pre-lockdown levels, with economists forecasting continued growth throughout 2021.
With the Federal Budget 2021/2022 set to be a big cash splash, the government has announced further tax cuts. Yes, there seems to be a massive transfer of wealth happening currently. Additonally, building and construction costs are on the rise as we ride through the next wave of inflation. And the covid vaccine is here! How do you think this will impact property prices? Will property be "cheap" today, when we look back in hindsight in 2,3,4 years from now?
This month we have an absolute stunning brand new single level villa launching to the market at 4/5 Florence Street, Coburg. Be sure to tune for more information on this exciting upcoming auction!
Until next time, stay safe, stay calm and purchase real estate!