Property Buzz

PropertyBuzz, your daily dose of property news.

Landlords advised to optimise their rental properties, Why apartments May Outshine Houses, and farmland hits decade-long growth streak

Welcome to Property Buzz! I’m Grace Ormsby

Today is Friday, 10 May.

– This tax time, Landlords can optimize their rental property investments by understanding opportunities available at the end of the financial year, according to Zac Morgan, head of property management at McGrath Surry Hills.
– He suggests landlords review rental income, assess deductions, claim depreciation on eligible assets, and ensure adequate insurance coverage for their rental properties.
– He also advises maintaining accurate records of all rental-related transactions, consulting tax professionals, considering property improvements for tax deductions, and monitoring rental market trends.

-And on the topic of investment, it appears Apartments are outperforming houses in capital growth, particularly in inner suburbs of Australian cities like Sydney, Melbourne, Brisbane, and Perth.
– Nuestar is predicting further apartment growth include inner Brisbane, north Brisbane, the Gold Coast, Canterbury-Bankstown, Sydney city, and Melbourne city, driven by supply limitations and increasing demand.
– The construction of large, luxurious apartments targeting downsizers has contributed to the trend, with the Baby Boomer generation seeking low-maintenance living options in their retirement.

– And taking a look at farming now, the 2024 Rural Bank Australian Farmland Values has shown the national median price tripled over the past 10 years.
– The growth rate of more than 11 per cent per annum over the past decade is significantly higher than the 20-year compound annual growth rate of just over 8 per cent.
– Despite improved sentiment due to better-than-expected rainfall, the market is expected to see a plateau in farmland values over the coming year, with landholders feeling less pressured to sell.

That’s Property Buzz for today.

See you again tomorrow, 11 May, for your daily dose of Property Buzz.

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