Australia’s best and worst-performing suburbs of the past five years have been revealed, with new data showing the hotspots that have skyrocketed since 2014 and those that have borne the brunt of the mining downturn.
The figures, released as part of Domain’s latest quarterly house price report, show the top 10 suburbs for houses and units combined, as well as the bottom 10 suburbs for houses and units combined.
The very Instagrammable northern NSW town of Byron Bay takes out the number one growth spot in the country; it’s median house price rose by a staggering 117 per cent since June 2014.
Other suburbs with strong growth included units in Adelaide’s inner eastern blue-chip suburb, Norwood; houses in the wealthy Sydney Eastern Suburbs neighbourhood of Vaucluse; units in Noosa Heads, Queensland; and houses in Burradoo, in the NSW Southern Highlands.
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Chinese have ranked Australia as their number one destination to buy property, with 27% of tourists telling Chinese portal Juwai they’ll consider buying a property on their next overseas trip.
Of the Australian cities, Melbourne was ranked by almost half of all Chinese buyers as their top pick. Sydney and Brisbane, with Brisbane singled out for its more affordable market.
After a couple years of declining Chinese activity in the market, renewed interest could lead to a boom in prices, with the depreciation of the Australian dollar securing an 11.1% discount for Chinese buyers.
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Sydney's property market is set for a new boom with an undersupply of homes predicted to fuel a spike in house prices.
Clearance rates have been sitting above 70 per cent for seven weeks as a limited number of new properties come onto the market. On Saturday, 734 auctions are scheduled for Sydney in the city's biggest test of the market since Easter.
A fake car salesman who tried to claim several hundred thousand dollars worth of dodgy refunds has been sentenced to three years in jail for tax fraud.
The Queensland man, who registered an ABN in 2010 claiming to run a business in the cafe and restaurant industry, tried to claim over $220,000 in GST refunds he wasn’t entitled to between 2011 and 2015.
When audited by the tax office, the man contradicted his registered business activity, claiming he was in the business of selling cars.
From failing to lodge income tax returns to submitting dodgy work related expenses, we will not tolerate any form of tax crime. The following case studies reinforce that those who deliberately cheat the system will be held to account.
Stop procrastinating and take Action, as in most cases you can achieve a better outcome by having KBSG review your loans.
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