Recent data from CoreLogic shows that 9 out of 10 properties in the latest quarter sold for a price higher than the original purchase price, raking in a gross profit of $18.7 billion collectively for the quarter alone.
CoreLogic head of residential research Eliza Owen said Hobart sellers were the most likely to experience gains, with 98.1% of properties selling for a profit.
ASIC has suspended the Australian financial services licenses of Sydney-based Theta Asset Management and Valuestream Investment Management and commenced action in the Federal Court in Western Australia, focused on the promotion and management of the Sterling Income Trust.
The 2020 SMSF Association National Conference will be held on the Gold Coast in February, a well-attended and hotly anticipated event, the conference will shine a light on the latest SMSF legislation and regulation and complex SMSF strategies through a comprehensive technical program.
CFMG Capital’s ‘Lomandra Park’ – a boutique residential community in Bridgeman Downs, just 12km north of the Brisbane CBD will be home to a Queensland Master Builders Display Village in 2020.
Elevate Estate, a residential land development located in Ormeau Hills is being developed by CFMG Capital via the Land & Opportunity Fund.
CFMG Capital are currently actively operating six residential developments at all points of the compass in the South East Queensland market, each at varying stages of construction or planning and a brief update on each of them is below.
With the recent upswing of the Australian property market, more investors are looking at property as a vehicle to excel their investment portfolio.
Australian investors, particularly SMSF Trustees will continue their growing thirst for yield based investment opportunities as official interest rates have continued to fall. This trend is set to follow those in foreign investment markets where low rates have impacted conservative investors with a high cash concentration.
A recent article on Independent Financial Advisor highlights industry concerns that constant meddling from ASIC into the advice sector, particularly in relation to SMSF’s is having undesirable results or unintended consequences.
Back in August, we wrote an article detailing the Australian Tax Office (ATO) intention to target owners and auditors of close to 20,000 SMSF’s who have pushed savings into single investment properties and cryptocurrency over possible breaches of the law.
