Thursday, August 28, 2014
Wednesday, August 27, 2014
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Tuesday, August 26, 2014
Monday, August 25, 2014
Super Access for first home buyers article of interest
Super Access for First Home Buyers
Senator Nick Xenophon's proposed legislative changes to allow first home buyers to access their
superannuation funds for a deposit on their first homes have seen many different reactions from
property experts.
“With more and more Australians finding it difficult to break into home ownership, adopting the
Canadian scheme would make a difference to many thousands of Australians each year,” said
Xenophon.
The Canadian scheme allows first home buyers to extract C$25,000 for the purchase of their first
home, which must be repaid into the fund within 15 years.
The scheme has been supported by some industry groups and businesses and derided by others.
Property Observer took the question to two experts.
Firstly:
CATHERINE CASHMORE: MARKET ANALYST: Should first home buyers be allowed to access their
superannuation to fund the deposit on their first home?
Nick Xenophon, along with other groups, such as the REIA, is advocating a policy that will be
responsible for making housing affordability worse. The procedure in Canada allows eligible buyers
to withdraw up to C$25,000 tax-free from their retirement fund, on the condition that they pay it
back over a 15-year period.
If they fail to do this, the amount withdrawn will be taxed as per the income earner's tax bracket.
Currently, 35 per cent of Canadians fall into this category. However, according to the CRA, roughly
one out of two (47%) contributed less than the required repayment amount over the 2011 tax year.
The Government picks up the added income revenue windfall.
Buyers, buoyed by a rent seeking culture that fools the public into believing such policies are
designed to be ‘helpful’, over stretch their budget and are left to carry the can in weak economic
conditions. In short - you borrow money from yourself at 0% interest and in doing so lose 15 years
of compounding 'tax free' interest with average returns in the order of 7%.
Many low to middle-income individuals have inadequate funds to draw upon. So even assuming the
scheme were to be effective, the difference it can make to those that need the help is limited.
But the real ‘nub’ of the issue, which Nick Xenophon has failed to acknowledge, is that the Canadian
Home Buyer Plan was never intended to aid affordability. It was promoted by the real estate
industry following the 1990s recession to stimulate land values and benefit the FIRE (finance,
insurance, real estate) sector, along with its economic offshoots - renovations, furniture and
appliances, moving costs, tax revenue to government and so forth. The FIRE sector has lobbied to
keep in place ever since and also pushed for the threshold to be raised.CRAIG MACKENZIE: RP DATA EXECUTIVE GENERAL MANAGER COMMERCIAL,
Pros:
Buyers need genuine savings given the price of housing in cities Sydney and Melbourne and
the cost of renting saving deposit is extremely difficult, accessing superannuation would
make it easier
Genworth reports that 1 in 4 first home buyers need assistance from their parents to enter
the market, by accessing superannuation they remove the burden from the parents
In some instances tapping superannuation would mean that the purchaser doesn’t have to
pay LMI on their purchase which would reduce the cost of purchase
The retirement savings pool is one of the largest in the world unlocking a portion of it would
enable first home buyers to access one of the most basic human need, shelter
Superannuation is about forced saving for retirement, a home for owner occupation is a
long-term investment so the horizons are aligned.
Ultimately the position is neutral with the Canadian scheme seeing the amount withdrawn
from Canadian Registered Retirement Savings Plan’s (RRSPs) repaid over 15 years.
Cons:
Accessing Superannuation doesn’t address the key reason why FHB can’t purchase a home,
that is that it is too expensive in many areas particularly those areas close to city centres and
around major working nodes.
By accessing Super to purchase a home it would potentially increase home values further,
much like the First Home Owners Grant has
Utilising Superannuation would allow FHB to buy in a location they otherwise couldn’t afford
to, is this really a good policy given buyers should by in a location which is aligned with their
current means to repay a mortgage.
The Canadian scheme doesn’t appear to have any penalty or interest associated with
withdrawing that money. The amount is paid back over 15 years however, that is 15 years
over which that money could have compounded if invested elsewhere.
It should be noted that Canadian RRSPs are somewhat different from Superannuation as they are set
up by individuals and in most instances employers don’t contribute to the plan. It is about saving for
retirement however, there are no compulsory contributions from the employer rather an RRSP is set
up by the employee to save for retirement
source Right Finance Australia courtesy of ljgrealestate.com
Sunday, August 24, 2014
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Pete Wargent blog: Interesting days
Pete Wargent blog: Interesting days: So, the Aussie economy is sluggish, we have just seen relatively uninspiring data out of China with manufacturing data scoring a 'miss&...
Saturday, August 23, 2014
Friday, August 22, 2014
Tuesday, August 19, 2014
Sunday, August 17, 2014
Friday, August 15, 2014
Thursday, August 14, 2014
Thursday, August 7, 2014
Wednesday, August 6, 2014
Tuesday, August 5, 2014
NEW CITY PLAN FOR BRISBANE Nuevo Plan de la Ciudad Para Brisbane 新城规划布里斯班
New City Plan For Brisbane
In response to feedback during the consultation period, the revised draft City Plan has been approved by Brisbane City Council.
The revised draft plan has now been sent to the Queensland Hovernment for final approval and it is expected this approval process will take several months. Brisbane City Council will then set the commencement date of the Brisbane City Plan 2014.
Master Builders made a submission on the original draft City Plan for Brisbane. Our concerns outlined the need for owners’ consent to build to the boundary, bushfire overlays and increases to car parking. These concerns have been addressed in the revised new City Plan.
Some changed to the new City Plan approved by council include:
Definitions: Some definitions have been changes, e.g. The definition of ‘hostel’ has been change to ‘rooming accommodation’.
Plan Boundaries: Neighbourhood plan boundaries have been revised where there was overlapping, leading to properties being in more than one precinct.
Levels of assessment: Revised for some specific circumstances.
Neighbourhood character overlay: Renamed to traditional building character overlay
Dwelling house (small lot) code: Revised to remove the requirements for a neighbour’s consent to build a ‘built to boundary’ wall. In addition, new side setbacks have been specified to allow for flexibility of building design.
Bushfire Overlay: revised to ensure they o not duplicate requirements of the Queensland Development Code and a material change is not subject to a bushfire overlay code.
9.5m building height: This specification remains and the dwelling house code and dwelling house (small lot) code have been revised to clarify that houses in the low density residential zone and character residential zone must still be only two storeys.
Small Lots: Revised requirements for small fots of 300m2 in low density residential zone. Sites will have to be within walking distance of 200 metres of a centre zone that is greater than 2,000m2. The minimum site frontage and slope requirements remain the same.
Increase to car parking spaces for residential development: Council has reduced visitor parking for multiple dwellings. They have however maintained or increased the resident parking rates for two bedroom and three bedroom units, and decreased resident parking rates for one bedroom units in areas within 400 metres walking distance of a transport interchange.
Nuevo Plan de la Ciudad Para Brisbane
En respuesta a los comentarios durante el período de consultas, el proyecto de revisión del Plan de la Ciudad ha sido aprobado por el Ayuntamiento de Brisbane.
El proyecto de plan revisado ahora ha sido enviada a la Queensland Hovernment para su aprobación final y se espera que este proceso de aprobación tardará varios meses. Ayuntamiento de Brisbane se establezca la fecha de inicio del Plan de la ciudad de Brisbane 2014.
Aparejadores hizo una presentación sobre el proyecto de Plan de City original para Brisbane. Nuestras preocupaciones destacaron la necesidad de consentimiento de los propietarios para construir hasta el límite, superposiciones de los incendios forestales y aumenta a aparcamiento. Estas preocupaciones han sido abordadas en el nuevo Plan de la Ciudad revisado.
Algunos cambiado al nuevo Plan de la Ciudad aprobada por el consejo son:
Definiciones: Algunas definiciones han producido cambios, por ejemplo, La definición de 'hostel' ha sido el cambio de 'alojamiento rooming'.
Los límites del Plan: límites Plan de Barrios se han revisado donde había superposición, lo que lleva a las propiedades que están en más de un distrito electoral.
Los niveles de evaluación: Revisado por algunas circunstancias específicas.
Barrio superposición personaje: renombrado como tradicional superposición carácter edificio
Casa de vivienda (pequeño lote) Código: Se ha revisado para eliminar la exigencia del consentimiento de un vecino para construir un 'construido en Boundary' pared. Además, los nuevos contratiempos secundarios se han especificado para permitir la flexibilidad de diseño de edificios.
Incendios Forestales Overlay: revisó para asegurarse de que o no duplican requisitos del Código de Desarrollo de Queensland y un cambio material no está sujeto a un ajuste de código de incendios forestales.
Altura del edificio 9.5m: Ese pliego de condiciones y la casa (pequeño lote) Código de vivienda código de la casa y la vivienda se han revisado para aclarar que las casas en la zona residencial de baja densidad y el carácter de zona residencial todavía deben ser sólo dos plantas.
Pequeños Lotes: Normas para pequeñas fots de 300m2 en zona residencial de baja densidad. Sitios tendrán que estar a poca distancia de 200 metros de una zona central que es mayor de 2.000m2. Los requisitos mínimos del ataque frontal sitio y pendiente siguen siendo los mismos.
Incremento de plazas de aparcamiento para el desarrollo residencial: Consejo ha reducido estacionamiento para visitantes para viviendas múltiples. Sin embargo han mantenido o aumentado las tasas de estacionamiento para residentes de dos dormitorios y tres dormitorios, y la disminución de las tasas de estacionamiento para residentes de unidades de un dormitorio en zonas a menos de 400 metros de distancia de un intercambiador de transportes.
Los artículos futuros cubrir el importante cambió en profundidad fango una vez que se implementó el Plan de la ciudad de 2014.
Este artículo fue adaptado de Maestro constructor abril / mayo de 2014 cuestión pg. 30
新城规划布里斯班
在谘询期间响应反馈，修订草案城规划已通过布里斯班市议会。
修订后的计划草案目前已被送往昆Hovernment最后批准，预计这一审批过程将需要几个月的时间。布里斯班市议会将会再设置布里斯班市计划2014年生效日期。
建筑大师在原有城市计划草案布里斯班提交了材料。值得关注的概述，需要业主同意建立的边界，森林大火覆盖，并增加至停车场。这些问题已得到解决，在新修订的城市规划。
有些改为理事会批准新的城市规划，包括：
说明：有些定义已经改变，如“旅馆”的定义已更改为“母婴同室住宿”。
规划边界：周边规划范围进行了修订，其中有重叠，从而导致性能在多个选区之中。
评估级别：修订了一些具体情况。
邻里字符叠加：更名为传统建筑字符叠加
住宅（小批量）代码：修订删除了邻居的同意，建立一个“内置到边界”墙上的要求。此外，新的侧挫折已指定为允许的建筑设计的灵活性。
森林大火覆盖：修订，以确保他们Ø不重复昆士兰的开发代码，并有重大改变的要求，是不是受森林大火覆盖的代码。
9.5米建筑高度：该规范仍然和住宅代码和住宅（小批量）的代码已经被修改，以澄清房屋的低密度居住区和特色居住区还必须只有两层。
小批量：为300平方米低密度居住区的小FOTS修订要求。网站将不得不步行距离200米的中心区大于2000平方米内。最低部位的正面和坡度要求保持不变。
增加对车位的住宅开发：会减少游客停车的多住宅。然而，他们都保持或增加了居民停车优惠两居室和三房单位，并在区不到400米的步行距离运输交汇处的降低居民停车优惠一房单位。
以后的文章将涵盖深入泥潭中的重要改变，一旦城市规划2014年实施。
本文改编自建筑大师四月/五月号2014页。 30
Monday, August 4, 2014
Sunday, August 3, 2014
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