Archive for May, 2014

More options for Sydney drivers

Sydney residents who use their vehicles on a regular basis will welcome a May 22 announcement from the state government.

From 2015’s first quarter, longer-period driver licences will be available to select motorists.

Currently, licences last for five years before they require renewal. Under the new system, drivers aged between 21 and 44 will be able to obtain 10-year long licences.

Better yet, … Read more »

REIA: Stabilisation in property markets

The housing market is stabilising, according to the Real Estate Institute of Australia (REIA).

This could open up opportunities for first time buyers in Sydney in coming months, though it could be some time before the market is more receptive to those looking to get their first leg up on the property ladder.

Owner-occupied housing finance figures released

The Australian Bureau of Statistics … Read more »

NSW shows spending strength

New South Wales is leading the country when it comes to spending, highlighting the state’s strength.

According to Commonwealth Bank’s latest Business Sales Indicator, the eastern state has gunned ahead of Queensland in respect of national sales growth.

A strong economy will be at the forefront of property investors’ minds, and this latest news could help solidify decisions to buy Sydney dwellings.

Steady … Read more »

Darling improvements for Sydney

Sydney’s iconic harbour will be revamped as part of a $1 billion-plus project.

The announcement was may on May 23 by New South Wales Premier Andrew Stoner and Planning Minister Pru Goward. The project will turn the southern side of the harbour into a “city neighbourhood”, dubbed Darling Square.

Approval has been granted for the construction of several buildings.

A 20-storey building that … Read more »

UDIA: Budget needs better economic growth

The recently-released federal budget has copped flak from the Urban Development Institute of Australia (UDIA), as announced in a May 13 press release.

Given the fiscal deficit, the UDIA has noted that the budget “delivered what it promised to deliver”. However, the industry body has expressed concern about future growth and has called for more focus on fostering future economic growth.

Key … Read more »

Sydney shines as global city

If you’re considering buying property in Sydney, now could certainly be the time to do so.

A $1.94 billion building and construction program has been approved by the City of Sydney, according to a May 13 statement from the local council.

The funding will be provided over the next 10 years to refurbish exciting facilities and build new ones, in order to … Read more »

Inner Sydney becomes cycling haven

More people are taking up cycling in the City of Sydney local government area, according to a May 16 statement from the local council.

Such news could encourage more individuals and young couples to buy property in the inner city and its surrounding suburbs, thanks to the great lifestyle on offer.

Even for those who don’t wish to cycle on a regular basis, … Read more »

$55 million childcare boost for Sydney

Sydney property investors will always be considering which kind of tenants they’re looking to appeal to, with young families a popular demographic to target.

The selection and locality of early-childhood and primary schools is often a key consideration for such tenants. Therefore, investing in Sydney real estate that’s within close proximity of quality education offerings can be a wise move.

A recent … Read more »

REINSW: ‘Harmonised’ national licensing framework needed

The Real Estate Institute of New South Wales (REINSW) has commented on national licensing for property professionals in a May 13 statement.

If recommended changes are adopted, this could result in even better outcomes for those¬†looking to buy property in Sydney, if the REINSW’s opinion is anything to go by.

The industry mouthpiece noted that the Council for the Australian Federation (CAF) … Read more »

Sydney champions residential property price growth

Sydney is the city that’s driving residential property prices, according to the Australian Bureau of Statistics (ABS).

The March 2014 Residential Property Price Indexes: Eight Capital Cities was released on May 13 and highlights the strength of the New South Wales capital.

Though it comes as no surprise that Sydney is a key player in both the NSW and Australian property markets, … Read more »