Tax Cut Windfall Boosts Savings
More than a third of Australians are preparing to boost their savings with the extra cash from the upcoming stage 3 tax cuts, indicating a strong preference for financial prudence in response to economic pressures, according to NAB. “Despite cost-of-living pressures, Australians have been prioritising their savings wherever possible over the last year or so,” said Paul Riley (pictured above), NAB personal banking executive. You may read the whole article here:https://bit.ly/4bBG66S
Australia Faces Housing Shortfall
Mike Zorbas, CEO of the Property Council, shared a dire prediction last week from the National Housing Supply and Affordability Council, indicating that by 2029, only 943,000 of the needed 1,200,000 homes will be built, pointing to a severe upcoming deficit in housing supply that threatens to intensify the affordability crisis. Proposed solutions for systemic improvement The council’s recent report, “State of the Housing System 2024”, outlined 10 areas to enhance the housing landscape. These include increasing social housing investments, enhancing rental market conditions for tenants, boosting construction sector capacity, enhancing the efficiency of land use and planning systems, increasing data availability, and tackling region-specific housing challenges. There are also improving housing outcomes for First Nations, assessing the appropriateness of the national housing target, and ensuring that Australia’s taxation system supports housing supply and affordability. “In the report’s own words, we need more housing of all types – social housing through to market homeownership,” Zorbas said in a media release. You may read the whole article:https://shorturl.at/bhyE1
Millennials Embrace Rentvesting Trend
Investors, particularly millennials, are increasingly embracing rentvesting – buying properties to rent out while continuing to rent themselves – fuelled by low vacancy rates and soaring rents in the property market, according to James Chase Buyer’s Advocacy. Millennials drive growth in rentvestingABS reported a significant 21.5% increase in the value of new investor loans this February compared to last year, with these loans accounting for more than half of the annual growth in new loans. Surprisingly, it is not older generations but millennials who are leading this investment surge, increasingly opting for rentvesting due to its flexibility and wealth-building potential. “We’re seeing a surge of millennial clients who are eager to enter the market through rentvesting,” said George Cherchian of James Chase Buyer’s Advocacy. “They do their research and they’re not afraid to make bold moves if the numbers add up.” You may read the whole article:https://shorturl.at/hkFIP
Victorian Homebuyer Fund to End Next Year
The state government has earmarked an additional $700 million for its shared equity home buying scheme for its final year. On Tuesday (7 May), the Victorian state government handed down its state budget for 2024/2025, revealing that the Victorian Homebuyer Fund will cease after next year. Presented by State Treasurer Tim Pallas MP and Premier Jacinta Allen, the budget sets out the funding for the state government for the next year. Several of the key initiatives target the cost of living and supporting home buyers. This is being done through a range of measures, including allocating funding to “promote more modern methods of construction, such as modular or prefabricated builds” and: 1. Providing $197 million to continue support for people experiencing or at risk of homelessness, including grants for homelessness services, accommodation for people with complex needs, and crisis response services.2. Using $114 million to remove cladding identified as posing unacceptable risk from residential buildings.3. Investing $107 million to progress the government’s housing agenda, including $20 million to build roads and enabling infrastructure to unlock government-owned land in East Werribee.4. Investing $63 million to address systemic issues within the building sector, including strengthening the Victorian Building Authority.5. Using $19 million to improve response times for repairs and maintenance in social housing. You may read the whole article here:https://shorturl.at/bQ368
RBA Unveils Rate Decision for May
The monetary policy board has made its decision for the official cash rate for the month. The Reserve Bank of Australia (RBA) has opted to maintain the cash rate at 4.35 per cent. Following discussions on the 6-7 of May, the monetary policy board announced its final rate decision for May this afternoon (7 May), revealing that it will be holding the official cash rate at its current level. The last time the cash rate moved was in November 2023, when the RBA lifted rates for the 13th time since the tightening phase commenced in May 2022. ‘Board not ruling anything in or out’ In the post-meeting statement by the RBA, the board stated that, in the near term, inflation is forecast to be higher because of the recent rise in domestic petrol prices, and higher than expected services price inflation, which is now forecast to decline more slowly over the rest of the year. The monetary policy decision reads: “Inflation is, however, expected to decline over 2025 and 2026… You may read the whole article here;https://tinyurl.com/8a3wzx5a
Truganina
Truganina stands out as a thriving community full of promise and opportunities. Its strategic location, just a stone’s throw away from Melbourne’s CBD, along with the attraction of spacious properties at affordable prices, draws in discerning homebuyers, particularly young families in search of a nurturing environment to put down roots. Truganina’s appeal goes beyond its proximity to the city, encompassing its natural beauty, with tranquil creeks winding through its boundaries and the inviting trails of the Federation Trail attracting both cyclists and pedestrians. In addition to its scenic surroundings, Truganina boasts a lively selection of shopping and dining options, catering to a diverse range of tastes and preferences. Get to own this House and Land Package in Truganina for only $699,990! Land Size: 312 sqm House Size: 168.89 sqm 4 Bedrooms 2 Bathrooms 1 Living Room 2 Car for Garage Land Settlement: March-April 2025 𝗟𝗼𝗰𝗮𝗹 𝗥𝗲𝘃𝗶𝗲𝘄𝘀 𝘁𝗼 Truganina: “Best Suburb to grow a family”Truganina is very close to the city, very affordable and easy access to all amenities in the West. This suburb offers great access to primary schools. Truganina is a fast growing suburb with lots of employment opportunities so people living here won’t have to travel far. 𝗙𝗼𝗿 𝗺𝗼𝗿𝗲 𝗱𝗲𝘁𝗮𝗶𝗹𝘀, 𝗷𝘂𝘀𝘁 𝗰𝗮𝗹𝗹 𝘂𝘀: 1300 074 675 or send us a message on Whatsapp +61 488 859 637 For more updates, follow us on social media:Facebook: Simply WealthInstagram: @simplywealthgroupWebsite: simplywealthgroup.com.auTwitter: @SimplyWealthGrp
Truganina
Truganina, nestled in Melbourne’s western suburbs, is a promising community with a strategic location near the CBD. Its spacious blocks at affordable prices attract homebuyers, especially young families. The area’s natural beauty, including serene creeks and the Federation Trail, appeals to outdoor enthusiasts. Moreover, Truganina boasts a diverse range of shops and dining options, adding to its allure. Get to own this House and Land Package in Truganina for only $700,469! Land Size: 312 sqm House Size: 168.89 sqm 4 Bedrooms 2 Bathrooms 1 Living Room 2 Car for Garage Land Settlement: March-April 2025 𝗟𝗼𝗰𝗮𝗹 𝗥𝗲𝘃𝗶𝗲𝘄𝘀 𝘁𝗼 Truganina:“Great for families, it’s well planned”It’s a new suburb that is still growing, very well planned specifically the estates north of Leakes road, very well connected to the city 25min drive. Nice communities, people are friendly and feels safe. Plenty of parks, sports ovals, and cycling paths. Shops and retail within 10 minutes drive. It ticks all the boxes. 𝗙𝗼𝗿 𝗺𝗼𝗿𝗲 𝗱𝗲𝘁𝗮𝗶𝗹𝘀, 𝗷𝘂𝘀𝘁 𝗰𝗮𝗹𝗹 𝘂𝘀: 1300 074 675 or send us a message on Whatsapp +61 488 859 637 For more updates, follow us on social media:Facebook: Simply WealthInstagram: @simplywealthgroupWebsite: simplywealthgroup.com.auTwitter: @SimplyWealthGrp
Truganina
Truganina captivates not just because of its nearness to the city, but also due to its natural beauty. Creeks peacefully winding through its boundaries and the welcoming paths of the Federation Trail attract both cyclists and walkers. Besides its picturesque landscapes, Truganina offers a vibrant selection of shops and restaurants, catering to a variety of tastes and desires. Get to own this House and Land Package in Truganina for only $697,970! Land Size: 300 sqm House Size: 168.89 sqm 4 Bedrooms 2 Bathrooms 1 Living Room 2 Car for Garage Land Settlement: March-April 2025 𝗟𝗼𝗰𝗮𝗹 𝗥𝗲𝘃𝗶𝗲𝘄𝘀 𝘁𝗼 Truganina:“Best in the West Melbourne” 𝗙𝗼𝗿 𝗺𝗼𝗿𝗲 𝗱𝗲𝘁𝗮𝗶𝗹𝘀, 𝗷𝘂𝘀𝘁 𝗰𝗮𝗹𝗹 𝘂𝘀: 1300 074 675 or send us a message on Whatsapp +61 488 859 637 For more updates, follow us on social media:Facebook: Simply WealthInstagram: @simplywealthgroupWebsite: simplywealthgroup.com.auTwitter: @SimplyWealthGrp
Manor Lakes
Captures nature’s beauty with lush landscapes and well-kept parks, creating an enchanting atmosphere. It blends modern comforts with timeless charm, offering an ideal place to live. Strategically located, it provides easy access to essential facilities like schools and shopping centers, catering to different lifestyles. With a tight-knit community and regular social activities, residents enjoy a welcoming environment and lasting relationships. Choosing to reside in Manor Lakes ensures peace, convenience, and a fulfilling suburban lifestyle for everyone. Get to own this House and Land Package in Manor Lakes for only $562,300! Land Size: 196 sqm House Size: 130 sqm 3 Bedrooms 3 Bathrooms 1 Living Room 1 Car for Garage Land Settlement: Titled 𝗟𝗼𝗰𝗮𝗹 𝗥𝗲𝘃𝗶𝗲𝘄𝘀 𝘁𝗼 Manor Lakes “Peaceful living in Melbourne’s west!!”Only 40 minutes from Melbourne CBD, close to shopping centres, schools, community centres, recreational facilities and a train station with public transport services, Manor Lakes has grown to become one of Melbourne’s most family-friendly livable suburbs. With generous sized homes, great for the growing families, a residential population of around 9,000, a lake, wetlands and over 3kms of walking and bike paths, with more to come 𝗙𝗼𝗿 𝗺𝗼𝗿𝗲 𝗱𝗲𝘁𝗮𝗶𝗹𝘀, 𝗷𝘂𝘀𝘁 𝗰𝗮𝗹𝗹 𝘂𝘀: 1300 074 675 or send us a message on Whatsapp +61 488 859 637 For more updates, follow us on social media:Facebook: Simply WealthInstagram: @simplywealthgroupWebsite: simplywealthgroup.com.auTwitter: @SimplyWealthGrp
Truganina
Welcome to your dream home in the beautiful suburb of Truganina! Truganina’s charm lies not only in its proximity to the city but also in its natural splendor, with the serenity of creeks meandering through its borders and the inviting pathways of the Federation Trail beckoning cyclists and pedestrians alike. Beyond its scenic allure, Truganina boasts a bustling array of shopping and dining options, catering to diverse tastes and preferences. Get to own this House and Land Package in Truganina for only $699,980! Land Size: 313 sqm House Size: 168.89 sqm 4 Bedrooms 1 Living Room 2 Bathrooms 2 Car for Garage Land Settlement: March- April 2025 𝗟𝗼𝗰𝗮𝗹 𝗥𝗲𝘃𝗶𝗲𝘄𝘀 𝘁𝗼 Truganina:“Great for families, it’s well planned…” 𝗙𝗼𝗿 𝗺𝗼𝗿𝗲 𝗱𝗲𝘁𝗮𝗶𝗹𝘀, 𝗷𝘂𝘀𝘁 𝗰𝗮𝗹𝗹 𝘂𝘀: 1300 074 675 or send us a message on Whatsapp +61 488 859 637 For more updates, follow us on social media:Facebook: Simply WealthInstagram: @simplywealthgroupWebsite: simplywealthgroup.com.auTwitter: @SimplyWealthGrp
