Westwood Conveyancing

Hi Everyone,

At its meeting today, the Reserve Bank of Australia decided to once again leave the cash rate unchanged at 2.5%.

There is great news for first-time homebuyers with the NSW state government budget delivering a $100K windfall on the $15,000 First Home Owners Grant. Therefore, if you are buying your first home, it is time to celebrate. The latest NSW budget allows you to purchase a newly built home priced up to $750,000 and still qualify for the $15,000 First Home Owners Grant (FHOG). That is $100,000 more than if you bought your new home in June! The catch is that you must be an Australian citizen or permanent resident to qualify for the grant in the next 12 months. Grants will also be restricted to one grant per person, per year from 1 July 2014.

In this issue we show you why properties in Sydney's inner ring offer the best long-term return, why the housing bubble is getting bigger as the house price-to income ratio is rising and we show you the pros and cons of increased foreign investment in Australian residential property. In addition, we discuss why Chinese investors are seeking Australian and New Zealand properties as a safe investment haven with solid returns and for a bit of a brain teaser see if you can complete our Sudoku puzzle in under 3 minutes. Good luck!

Please feel free to contact us about any matter - we are always happy to hear from you and to assist!

Kind regards,

Donna Westwood

Donna Westwood
Licensed Conveyancer, JP
(Licence No. 1555562)

Tel: (02) 9940 4006 | Fax: (02) 9940 3398 | Mob: 0429 912 649
35 Rosamond Street, Hornsby NSW 2077
Westwood Conveyancing | ABN: 68 155 594 602
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DISCLAIMER The information contained in this newsletter is general information only and is based on our interpretation of various topics. It has not been prepared taking into account your specific situation, objectives or needs. You should consider how the information is in anyway appropriate to your own situation before making any decision. You should also seek independent advice from the appropriate professional to assist you with any decision.