National Rental Affordability Scheme

National Rental Scheme

The government has set up the scheme , in order, to appeal to so called key workers: such as Police, Nurses, Teachers, service delivery workers. It is to build up to 50,000 Affordable houses: to reduce the rental cost with massive rental subsidies, of  25% of the regular market rents ; and encourage building of  large numbers of affordable houses.  Currently, into its third round of Applications, the builders and developers are discovering and supporting the scheme. Recent refinements to the application process will enhance the attraction for developers.

Who can apply for the renting? , well its  means tested by income. Research via www.fahcsia.gov.au

What’s in it for the investor’? , a secure tenant, low expected vacancy, and a indexed  rental rebate subsidy of $9,100 for ten years.

In rural and regional areas the effective rental return for investors, can be very attractive.
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Melbourne house property growth boom!

Today, we are reading about the growth of Melbourne and wondering ,WHY?

Well, I suggest the biggest surprising factor is  employment growth. Melbourne is growing through  both longer work hours and more employment. Melbourne is benefiting from interstate migration, as the other states have been either mismanaged at the government level or harder hit by the world financial crisis and subsequent downturn in world trade and  growth. The factors of economic rationalism has driven rational  families and workers into Victoria. Victoria has a more stable and more investment minded government. The basic services of schools, Hospitals, Universities, roads is better provided in Victoria. The current and soon to be revealed plans of the state government are aggressively in favour of growth and development. The topography of a flat city with lots of adjacent vacant land provides for cheaper land development. Victorians has benefited from the builders and developers negotiating  a better deal for the First Home Owners Grant  in Victoria, such that ,we are winning 40 % of these grants, while, Victoria only represents 25 % of the Australian economy.
New capital works include , M1 Monash upgrade $1.4 Bn, Eastlink road opened 2008 cost $2.4 Bn, Western ring  road $1.32 bn, Rail Duplication City to west Werribee, includes three new stations, $2.4 bn, New Melbourne to Sunshine freeway, cost $5.4 bn, two new rail station on the Pakenham line,likely doubling of trains numbers cost ?
The secret is Empoyment growth in Victoria!!!

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An Idea on the Melbourne house property boom? Why ?

Today, newspapers are reporting week after week of rising Melbourne home values and premiums achieved at auction. What does it all mean ?

1   The population of Melbourne is booming, growing at 1800 a week.

2   This is considered to be double that of only five years ago.

3    Builders are having difficulty finding finance. They are not building enough to meet the house demand.
4    The changed FIRB {Foriegn Investment Review Board} guidelines for foriegn buyers, has allowed a sudden rise is in overseas buyers. In some areas, these new buyers can account for up to one third of all buyers. This is having a disproportionate effect at the public auction sales.

5   Why is Melbourne so popular? Well all the factors we have always know are becoming more important. Melbourne has great tertiary education institutions, and compared to Sydney, stronger State government leadership!, better public transport {Melbourne is to build several new train stations}, much cheaper land, better hospitals, easier roads congestion and great beaches. I argue there is major interstate immigration from other Australian states.  This will take time to be confirmed with government statistics. Then we will be increasingly, be made aware, just why so many Sydney developers including FKP, Devine, Mirvac, Lend Lease,  have moved their emphasis of  land and homes development to Melbourne.
6  One can still buy a brand new 3  Bed room brick home for around $ 310,000, in Carrum Downs, Skye, Pakenham, Wyndhan Vale, Melton or Tarneit, where similar in Sydney would be $600,000.

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