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I have a cheerful personality and caring nature with a positive outlook in life. I was divorced widin one month five years ago. We have clients who recently settled on an investment property in Melbourne — a one-bedroom apartment with parking. Great result. Incredibly happy clients and investors. They are now un-employed. Most invest in apartments or lower priced house and land packages.
However, as they only own one property they will not receive any land tax relief. This is far from a lifesaving financial relief package for residential landlords but rather just another way the Victorian State Government has short-changed investors.
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If you would like to discuss how to best plan and manage your cash flow, then we are here to help. Please call me on or click the link and book a Zoom meeting. This is really great news for everyone. Victoria has opened the floodgates on the Melbourne property market by lifting restrictions on inspections and display suites.
This follows weeks of subdued activity in the Melbourne property market and only 60 properties head to auction at a clearance rate of This could all change with the lifting of lockdown coupled with lending reforms which are expected to fire up the metropolitan market. Buyers in Melbourne will have more access to mortgages, and those buying off the plan will also have access to HomeBuilder and the first home owner incentive. REIV president Leah Calnan said the inspection changes are an enormous relief to buyers, sellers and renters alike, many of whom have been suffering severe financial and emotional stress during the past few weeks.
Premier Daniel Andrews said Victoria is even further ahead than had been hoped, and is on track to hit single digits in the next few weeks. Real estate agents, along with prospective purchasers or tenants, accompanied by one other person will be allowed on properties or in display suites. Andrews also confirmed that large-scale construction projects can increase their limit to 85 per cent of the baseline workforce, or 15 workers; and small-scale construction contractors can move up to five sites a week, with a two-site per day maximum.
We identified this as an area of opportunity for investors, as it ticked all the boxes for property investing.
The and Brookwater Drive property spans a 3. The land parcel is situated within the approved Brookwater urban village precinct plan, and more broadly within the Greater Springfield masterplanned development area, the brainchild of billionaire developer Sinnathamby. Marketing materials say the site offers a range of uses including townhouse, terrace, apartment, accommodation, short term accommodation, hotel or resort opportunities, subject to council approval.
The new multi-level facility, announced by the state government earlier this year, is located at the corner of the Centenary Highway off-ramp and Springfield Greenbank Arterial Road. They own one property.