News.Life

Is Now the Perfect Time to Buy Property in Australia?

Unknown business, investing, investors, real estate, real estate market

Ever since I joined Livewire, one of the frequent queries I've received from acquaintances and relatives is, "Is this a good time to purchase real estate?" Regardless of whether it’s their primary residence or an investment property, buying a house is a significant choice.

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 To evaluate whether it’s better to purchase now or wait, I consulted several industry professionals who helped break down and address this significant question by examining the following aspects:

<ul>
 <li>
 Market timing
 </li>
 <li>
 Affordability
 </li>
 <li>
 Price outlook
 </li>
 <li>
 Property types
 </li>
 <li>
 Geographic insights
 </li>
</ul>
<h2>
 1. Market Timing
</h2>

 Based on insights from real estate market analysts,
 
 Cameron Kusher
 
 The recently implemented interest rate reduction has brought stability to the real estate sector, notably in Sydney and Melbourne, where modest price increases have started to occur. Moving forward, he anticipates additional decreases in interest rates will quicken this pace.

<blockquote>
 
 If you can make your purchase now with ample inventory available and less competition from other buyers, even before interest rates decrease further, this approach likely makes the most sense.
 
</blockquote>

 
 Nathan Smith
 
 , mortgage broker and director of Birdie Wealth, notes that many prospective buyers have been sitting on the sidelines for the past 18 months, waiting for the right moment to enter the market.

<blockquote class="--standout">
 
 “The rate cut was certainly that sign, and we have seen a flood of buyers enter back into the market.”
 
</blockquote>

 Despite ongoing global economic instability,
 
 Melinda Jennison,
 
 The president of REBAA and a buyers' agent notes that Australia's real estate market is distinctly influenced by robust population expansion and a considerable shortage of newly constructed homes.


 
 Evan Thornley
 
 The co-founder and CEO of Longview Property Management also concurs that the primary factor behind rising house prices is population growth. He underscores that "essentially, what you purchase is far more significant than the timing of your purchase."

<blockquote>
 
 If you secure a significant piece of property—a 'RODWELL' (Robust Older Dwelling on Well-Located Land)—its value could readily increase twofold within a decade, even if bought amid a minor market uptick.
 
</blockquote>

 He adds further, "'In the meantime, an average property (such as a gleaming modern skyscraper flat) might not provide significant capital appreciation, regardless of how 'inexpensive' it appears at present.' He then explains that shifts in the trend of interest rates have a far stronger impact — driving purchasers to attempt outpacing future price hikes and sellers to delay listing their properties — which leads to a mismatch between supply and demand, consequently propelling prices higher."


 The agreement is evident — accurately predicting the market at the perfect time is almost unachievable, and present circumstances benefit those prepared to act immediately. This counts as a point in favor of taking action now.

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<h2 class="can-not-delete">
 
 2. Affordability
 
</h2>

 As soon as it was evident that rate increases had stopped, consumer confidence rose, and the sentiment got an additional uplift with the reduction of rates. This underscores the high sensitivity of Australian families to alterations in interest rates.

<blockquote>
 
 "Additional decreases in interest rates would boost borrowing ability—with every 25-basis-point adjustment, this capability can go up by approximately 2% to 2.5%. As individuals have greater access to loans and an increasing number of potential purchasers enter the market, we anticipate improved confidence leading to higher property values," explains Kusher.
 
</blockquote>

 He points out that the crucial question is whether increasing costs will negate these improvements in affordability. At present, he feels this outcome is improbable.


 Conversely, Jennison cautions about the possible drawbacks:

<blockquote>
 
 “Lower interest rates tend to lift buyer sentiment and increase borrowing capacity, making people feel more comfortable taking on debt. However, this can lead to increased demand, especially in supply-constrained markets, which can push prices higher and paradoxically worsen affordability over time.”
 
</blockquote>

 Smith highlights that present borrowing criteria involve substantial cushions, with applicants evaluated based on their capacity to manage loan payments at interest rates above 9%. Nevertheless, reduced interest rates might substantially alter purchase feasibility for numerous potential homebuyers.

<blockquote>
 
 A single or double interest rate reduction could boost their financial capability by anywhere from $30,000 to $100,000, which would definitely provide them with the opportunity to purchase their ideal house.
 
</blockquote>

 This rise in borrowing capacity might indicate that individuals who were once unable to afford the market may now actually get a opportunity to purchase.


 Thornley offers an additional viewpoint: although interest rates significantly affect borrowers with substantial mortgages—primarily first-time homeowners—in contrast, those upgrading properties valued at over $1.5 million generally depend more on their accumulated equity. This implies that these purchasers' capacity to buy new homes hinges more on the appreciation of their present property’s value rather than minor fluctuations in interest rates.


 Overall, this seems to be yet another advantage of purchasing now – as lower interest rates will boost lending ability and likely raise property values.

<h2 class="">
 
 3. Forecasted prices for 2025
 
</h2>

 Therefore, what’s the approach to stay ahead of market indicators? Kushner highlights the significance of monitoring key economic factors such as clearance rates and property prices, alongside the quantity of listings and the speed at which homes are being sold.


 Smith points out the significant demand from purchasers, especially in Sydney, who have been awaiting the ideal moment to buy.

<blockquote>
 
 We view 2025 as the chance for them to seize this opportunity. There has been a rise in inquiries regarding pre-approvals and from first-time buyers, leading us to anticipate that this will boost demand, resulting in higher property values.
 
</blockquote>

 Jennison predicts that property markets characterized by limited availability and comparatively higher affordability, where local purchasers aren’t overly strained financially, stand a greater chance of experiencing steady value increases.


 Thornley is straightforward: "Forecasting home values is an unwise pursuit... nonetheless, present signs point towards modest increases with variations between cities. Regardless, it's essential to concentrate on the fundamental aspects of a particular property over the long term."

<blockquote class="--standout">
 
 Once more, it’s about WHAT you purchase (a quality single property) rather than WHEN you purchase it (attempting to predict the market – including city trends).
 
</blockquote>

 Even though there are some drawbacks, this seems to add another point in the "pro" column.


 Given the information presented earlier, it appears that purchasing a property at this juncture might be advisable if you possess the means to do so. However, everyone understands that deciding to buy is merely part of the solution. Several additional elements come into consideration here.

<h2>
 
 4. Property types
 
</h2>

 Kusher thinks that although reduced interest rates will be advantageous for various kinds of properties, homes—especially those in more expensive regions—are likely to experience the most significant increases in value. This is due to the longstanding preference among individuals to purchase a house over other forms of real estate.


 Instead of concentrating on particular kinds of properties, Smith highlights the significance of grasping local demand. He points out that various regions have distinct requirements when it comes to real estate.

<blockquote>
 
 When discussing different property categories, it often boils down to the dynamics of supply and demand. The number of homes available is restricted, while numerous families urgently aspire to enter this sector.
 
</blockquote>

 I believe that standalone houses and bigger townhomes for those looking to downsize will consistently see high demand," he states. He points out that people buying in regional areas often value more space, whereas purchasers in urban centers might lean towards apartment living.


 Thornley further notes that large apartment complexes frequently sell based on stamp duty concessions or tax deductions for wear and tear rather than their potential as solid investments. "The cost of construction has skyrocketed, and the value of the land in these tower blocks is minimal, which means limited opportunities for appreciation. It’s best to steer clear of them. Additionally, student housing will likely face challenges due to decreases in international student numbers, and many cannot secure financing since they typically fall under 40 square meters, thus offering little room for significant gains," he explains.

<blockquote class="--standout">
 
 In conclusion, the sector that consistently excels is the one that capitalizes on true land shortage.
 
</blockquote>

 Jennison also notes that no particular property type excels in every market since their performance differs based on location.

<blockquote>
 There isn't a universal solution because understanding the specific local markets is crucial. The real estate landscape varies across different regions of Australia.
</blockquote>
<h2>
 
 5. Geographic insights
 
</h2>

 In 2024, the Australian real estate landscape presented contrasting scenarios: cities like Sydney, Melbourne, Hobart, and Canberra saw modest increases, whereas Brisbane, Adelaide, and Perth witnessed substantial price hikes reaching into double digits. As we look ahead to 2025, Kusher anticipates that Brisbane, Adelaide, and Perth will maintain their strong performance, primarily due to constrained availability which sustains high pricing in those regions.

<blockquote>
 
 There’s a high chance they will continue to outshine other markets primarily due to the limited supply of properties currently up for sale.
 
</blockquote>

 Smith observes a change in focus among real estate experts and purchasers, showing heightened interest in Sydney and especially Melbourne. Jennison suggests that although alterations in nationwide interest rates affect every city, localized economic elements like employment expansion, construction initiatives, and residential availability play a more crucial role in determining price fluctuations.

<blockquote class="--standout">
 
 We might still witness a two-tiered market dynamic in 2025.
 
</blockquote>

 She reinforces the view that both Brisbane and Adelaide will keep up their pace:

<blockquote>
 
 Brisbane, specifically, is drawing more focus because of the 2032 Olympics and the accompanying surge in infrastructure development. Despite some recent lagging performance, Melbourne might see a resurgence; however, governmental policies and supply factors continue to pose challenges.
 
</blockquote>

 Thornley also points out that all urban marketplaces operate in cycles, with local elements being the primary influencers on geographical demand. He mentions that many rural regions experienced significant growth during the pandemic period when numerous remote employees moved into these locations (take Byron Bay for instance). However, certain rural zones now confront potential risks since workers are returning to metropolitan centers. Additionally, their economic stability often relies significantly on specific industries such as farming, mining, or hospitality. Should these key sectors encounter difficulties, this could lead to fluctuations in real estate prices.

<blockquote>
 “
 
 If you truly comprehend those local factors, sticking with the major cities along the eastern seaboard—such as Sydney, Melbourne, and Brisbane—is still your safest choice. These locations see rising property values due to their varied economic activities and increasing populations over time.”
 
</blockquote>
<h2>
 
 Is it about finding the perfect timing, or securing the ideal property?
 
</h2>

 As the old saying goes, the ideal moment to invest in real estate was two decades ago. However, it genuinely appears that the second-best time would be right now.


 As interest rates decline, borrowing capabilities increase, and a market previously skewed by lack of supply is poised to reach balance (or possibly overcorrect), this appears to be an opportune moment for buyers that may not present itself again anytime soon.


 It might seem unusual to mention this, especially considering that national home values have reached an all-time high, yet for individuals with certain adaptability, whether it be regarding the kind of property or location, there are still numerous choices available.


 Therefore, conduct thorough research, understand your target market, and concentrate on prime locations with superior quality assets. Everything else is essentially beyond your influence.


 
 Are you considering purchasing a property this year? Share your thoughts in the section for comments down below.
 

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Is Now the Perfect Time to Buy Property in Australia?

Unknown business, investing, investors, real estate, real estate market

Ever since I joined Livewire, one of the frequent queries I've received from acquaintances and relatives is, "Is this a good time to purchase real estate?" Regardless of whether it’s their primary r…

Young Australians Flock to Affordable Plots in Affluent Suburbs: The Twist You Need to Know

Unknown home and property, infrastructure, local news, news, real estate

<img data-document-id="cms/api/amp/image/AA1Cphmt" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1Cphmt.jpg"/>

 Vacant parcels of land are growing rarer in Australia's inner-city areas. As we
 The population surges while vacancy rates drop sharply.
 They are quite scarce in today's marketplace.


 However, for those who dream of constructing their perfect home from scratch, an exclusive chance has emerged in the verdant suburb of Longueville — situated merely eight kilometers northwards.
 Sydney’s
 CBD, or just a brief 15-minute drive away.


 Nevertheless, there is a considerable caveat.


 This small North Shore property, spanning merely 235 square metres, includes
 a big electrical substation as spacious as a shed
 —and it’s certainly not moving from this spot. Ausgrid, which is handling the sale of the land, has retained an easement over the area. This gives them perpetual legal permission to enter and manage the substation, regardless of who owns the property afterward.


 Many would be familiar with the common scene—a large green box adorned with “hazard” warnings—typically found in urban and rural areas alike, usually not drawing much attention. However, this particular one stands out and is difficult to overlook.

<img data-document-id="cms/api/amp/image/AA1Cpmsl" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1Cpmsl.jpg"/>
<h2 id="jump-link-can-you-remove-an-electrical-substation-from-newly-purchased-property">
 Is it possible to eliminate an electrical substation from recently-acquired land?
</h2>

 Therefore, can the new owner take it off? To put it briefly: No. At least not without obtaining Ausgrid’s permission.


 The substation needs to remain in place. The easement gives Ausgrid complete authority to manage, maintain, and access the property whenever necessary. Obstructing this equipment could result in severe legal repercussions.


 Ultimately, what you’re purchasing is the property, yet you’ll be sharing it with an immovable piece of electrical equipment that cannot be relocated, altered, or overlooked.

<ul>
 <li>
 
 Relatives shocked as unsightly structure abruptly shows up in the garden of their recently acquired house.
 
 </li>
 <li>
 
 A couple's dismay as their dream house remains unfinished for yet another Christmas, marking the third year in a row.
 
 </li>
 <li>
 
 An Australian family has been instructed to reduce the size of their newly constructed house following a "flagrant breach" of regulations.
 
 </li>
</ul>

 Using some creativity and enlisting the help of an adept architect—or what Belle Property calls “visionaries”—there might be alternatives available. For instance, one could incorporate the substation into the house’s architectural plan or employ innovative screens and greenery to minimize its visual impact.


 However, the substation remains, at least for the time being, firmly in place. "This small yet versatile unit presents boundless opportunities... It’s an uncommon discovery within this exclusive community," Belle noted in the online posting, where no specific pricing range was provided. Despite this, the advertisement includes images taken strategically from above, showing both the lot and the substation; many areas are cleverly hidden behind a conveniently positioned tree.


 This isn’t the first time Ausgrid has disposed of excess assets. Back in 2021, they offloaded four parcels in Wahroonga, followed by a 2.86-hectare site in Zetland during 2022.


 The newest listing falls under the same category as several others from Ausgrid. According to Sam Harrison at Belle Property, who spoke with the Sydney Morning Herald, many young individuals have shown significant interest in finding an “affordable” way to enter this sector of the real estate market.

<h2 id="jump-link-make-sure-you-do-your-research">
 Ensure you conduct thorough research.
</h2>

 In this case, the substation is not likely to unexpectedly attract potential buyers.


 However, in 2023, a family committed the "beginner mistake" of overlooking the land survey prior to constructing their ideal house, leaving them deeply disappointed.
 following the revelation of an "unsightly" green box situated mere centimeters away from their bedroom windows during an inspection.


 The transformer box – a metallic enclosure housing electrical components designed to step down high-voltage electricity for safer home use – was intended to be placed there from the start. However, the family claims they were unaware of this until construction had begun.


 They mentioned that during a standard inspection of the property’s development in Sydney’s west, they stumbled upon an unsightly issue. This led them to admit their serious error in neglecting to review the land survey.


 The box can't be moved or adjusted in any way, and due to various landscaping restrictions, also can't be decorated in greenery. According to one property expert, it can even decrease the value of the home by up to 10 per cent.


 In Longueville, where the median house price stands at around $5.66 million, it remains uncertain whether the substation will have a similar effect on the final sale price of the property.


 
 Have a tale to share? Send an email:
 
 
 newsroomau@yahoonews.com
 
 
 .
 


 
 You can additionally connect with us on
 
 
 Facebook
 
 
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 Instagram
 
 
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 TikTok
 
 
 ,
 
 
 Twitter
 
 
 and
 
 
 YouTube
 
 
 .
 

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The article initially appeared on Yahoo News Australia.
https://au.news.yahoo.com/young-aussies-buzz-over-affordable-plot-in-affluent-suburb--but-there-is-a-catch-231602822.html

Young Australians Flock to Affordable Plots in Affluent Suburbs: The Twist You Need to Know

Unknown home and property, infrastructure, local news, news, real estate

Vacant parcels of land are growing rarer in Australia's inner-city areas. As we The population surges while vacancy rates drop sharply. They are quite scarce in today's marketplace. However, for …

Barefoot Investor Debunks Home Loan Change as 'Too Good to Be True'

Unknown economics, home and property, home loans, personal finance real estate, real estate

<ul class="mol-bullets-with-font">
 <li class="class">
 
 
 Scott Pape dismisses the Coalition's housing proposal.
 
 
 </li>
 <li class="class">
 
 
 Michael Sukkar aimed at adjusting lending criteria
 
 
 </li>
 <li class="class">
 
 EXPLORE FURTHER: The Barefoot Investor advises Australians to prepare for potential increases in living costs.
 
 </li>
</ul>

 The Barefoot Investor has strongly criticized a suggestion by the Coalition to relax borrowing regulations, aiming to assist Australians in purchasing homes, arguing that it will merely inflate real estate costs.


 Scott Pape stated this following concerns raised by renter Penny who reached out asking about the suggestion that was backed by the opposition.
 housing minister
 Michael Sukkar.


 "I am 32 years old, work as a teacher, and currently rent an apartment with my partner, who is also a teacher," she shared.


 We're putting in significant effort and cutting costs wherever possible, yet the notion of becoming homeowners seems out of reach.
 Melbourne
 It still seems unattainable.


 We don’t come from wealthy families with benefactors; my mother is a renter too, and my partner’s parents are still working on paying off their house.


 'I was scrolling through property updates when I came across an article citing the Liberals' intentions to relax borrowing regulations to assist purchasers who don’t have financial support from their parents. Does this policy change hold significance for folks like us, or is it merely election-season talk?'


 Mr. Sukkar disclosed on Tuesday that his focus would be on the serviceability buffer for home loans should the Coalition regain power in the upcoming federal election.
 election
 .


 The financial regulator – the Australian Prudential Regulation Authority – requires banks to consider home loan applicants' ability to service their mortgage at the current interest rate, plus an additional three per cent.

<img data-document-id="cms/api/amp/image/AA1Cn0tQ" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1Cn0tQ.jpg"/>

 Previously, the buffer was set at 2.5 percent, but it was increased during the Covid pandemic.


 The Barefoot Investor indicated that the buffer serves as a 'stress test'.


 "When applying for a mortgage, the bank verifies whether you can still manage the payments even if interest rates increase," he stated in his column for
 NewsCorp
 .


 'If the interest rate is 6 percent, they check if you can still manage payments at 9 percent.'


 It's referred to as a "stress test"—designed to prevent individuals from taking on more debt than they can handle when interest rates increase.


 And, as a financial counselor, I believe this is a very wise policy that maintains pressure on bankers.


 Mr. Pape mentioned that Mr. Sukkar had a different perspective on the matter.


 'He contends that reducing the buffer would enable first-time homebuyers to secure larger loans. This statement holds merit,' he noted.

<img data-document-id="cms/api/amp/image/AA1Cn593" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1Cn593.jpg"/>

 However, consider this for approximately six seconds: Reducing the buffer would allow everybody to borrow more – which they undoubtedly would – and all that would accomplish is pushing house prices higher still.


 Sukkar’s plan is akin to coveting the final limp dim sim that has been lingering in the servo steamer since last Sunday.


 Penny, I understand you're hungry, but if you decide to consume whatever Sukkar is offering, ensure you keep a hazmat suit ready, a frozen roll of toilet paper available, and contact a plumber beforehand.


 When the statement was made, Mr. Sukkar indicated that there was an inherent prejudice supporting wealth passed down through generations.


 "At present, individuals in Australia who do not have access to the 'Bank of Mum and Dad' face higher lending expenses—even though their inherent risk might be the same or less," he stated.


 That represents a systematic preference for wealth passed down through generations. We aim to eliminate this bias.


 The Coalition will not tolerate a scenario where a generation of Australians lacks the same chances for homeownership as those from preceding generations.

Read more

Barefoot Investor Debunks Home Loan Change as 'Too Good to Be True'

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Scott Pape dismisses the Coalition's housing proposal. Michael Sukkar aimed at adjusting lending criteria EXPLORE FURTHER: The Barefoot Investor ad…

Florence Welch Buys Haunted £1.9m Somerset Estate

Unknown heritage, home and property, music, news, real estate

Florence Welch
 Has purchased a £1.9 million property in Somerset and has been awaiting relocation for the past four years because of significant refurbishments.


 The frontman of the indie rock group
 Florence and The Machine
 In 2021, they initially purchased the Grade II listed property and submitted their concluding development plans the previous year to partly tear down certain buildings as part of the renovation process.


 The proposals indicate that Welch, aged 38, aims to bring together the four individual structures on the property—previously utilized as distinct residences since the 1940s—into one cohesive unit following her acquisition of the last structure on the premises in 2023.


 Documents indicate that none of the neighbors have raised objections to the plans, yet they might potentially disturb a previous resident of the property—an entity believed to be a ghost.


 As per local legends, the apparition of a grey lady has been seen at the historical site.


 According to one book chronicling the local legends of the region, an unsettling female apparition was spotted there during the 1970s.


 It remains unclear whether Welch knows about the 'grey lady' who might inhabit her new home, but she is recognized for being connected to her spiritual side as a musician.


 The musician delves into themes of the supernatural, the occult, witchcraft, pagan rituals, and Wiccan customs within her compositions.

<img data-document-id="cms/api/amp/image/AA1CmWTJ" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CmWTJ.jpg"/>
<img data-document-id="cms/api/amp/image/AA1CmGd8" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CmGd8.jpg"/>
<img data-document-id="cms/api/amp/image/AA1CmIwc" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CmIwc.jpg"/>

 "I devoted considerable time to poring over books and gazing at ancient structures, firmly believing in the existence of spirits and vampires, and feeling an intense awareness of such phenomena occurring around me," Welch said to Vice in 2015.


 She even initiated a witch circle at her educational institution. 'My two buddies and I created these grimoires wherein we attempted casting spells on our fellow students,' she shared with the magazine.


 Maybe having a mystical presence at her new home will be an added advantage for the spiritually inclined singer.


 Welch has previously declined to specify her spiritual beliefs, but she mentions that her mother, who is the vice-chancellor of Bristol University, Evelyn Welch, has described her as an 'animist.'


 A person who follows animism thinks that various entities such as objects, locations, and living beings each have their own unique spiritual nature.


 The independent artist's first significant spiritual experience occurred during her childhood in Camberwell, South London, where she was raised and continues to reside. This revelation was shared in an interview published in the New York Times Style section, which appeared in the Australian edition.

<img data-document-id="cms/api/amp/image/AA1CmIwg" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CmIwg.jpg"/>
<img data-document-id="cms/api/amp/image/AA1CmWTO" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CmWTO.jpg"/>

 The magazine quoted her as saying, "she simply looked at rays of light streaming through her bedroom window and felt a connection to something greater." This statement was published in December.


 The property, tracing its origins to the 12th century, occupies 1.2 acres in a tranquil Somerset village. It features numerous ancillary buildings and meticulously maintained gardens.


 The estate comprises sixty rooms distributed over three levels along with additional features such as a scullery, an impressive great hall, a swimming pool, and a folly.


 The independent musician has filed six development plans for her future residence since acquiring the plot of land, with these proposals either accepted or awaiting validation.


 When reached for comment, Welch's representatives remained silent.

Read more

Florence Welch Buys Haunted £1.9m Somerset Estate

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Florence Welch Has purchased a £1.9 million property in Somerset and has been awaiting relocation for the past four years because of significant refurbishments. The frontman of the indie rock grou…

Barefoot Investor Debunks Home Loan Change as 'Too Good to Be True'

Unknown economics, home and property, home loans, personal finance real estate, real estate

<ul class="mol-bullets-with-font">
 <li class="class">
 
 
 Scott Pape dismisses the Coalition's housing proposal.
 
 
 </li>
 <li class="class">
 
 
 Michael Sukkar aimed at tightening lending criteria
 
 
 </li>
 <li class="class">
 
 READ MORE: Barefoot Investor advises Australians to prepare for potential increases in living costs.
 
 </li>
</ul>

 The Barefoot Investor has strongly criticized a suggestion by the Coalition to relax borrowing regulations with the aim of assisting Australians in purchasing homes, arguing that it will merely inflate real estate costs.


 Scott Pape made this assertion following an inquiry from worried tenant Penny, who reached out regarding the suggestion that was backed by the opposition party.
 housing minister
 Michael Sukkar.


 "I am 32 years old, work as a teacher, and currently live in a rented place with my boyfriend who is also a teacher," she mentioned.


 'We’re putting in a lot of effort and cutting costs wherever possible, but the dream of homeownership seems out of reach.'
 Melbourne
 It still seems unattainable.


 'We come from families without wealthy parents or guarantors – my mother is also a renter, and my partner’s parents are still paying off their own house.'


 'I was scrolling through property updates when I came across an article citing...the Liberal Party’s intentions to relax borrowing regulations to assist purchasers who don’t have financial support from their parents...is this relevant for folks like us, or is it merely election-season chatter?'


 Mr Sukkar disclosed on Tuesday that his focus would be on the serviceability buffer for home loans should the Coalition regain power in the upcoming federal election.
 election
 .


 The financial regulator – the Australian Prudential Regulation Authority – requires banks to consider home loan applicants' ability to service their mortgage at the current interest rate, plus an additional three per cent.

<img data-document-id="cms/api/amp/image/AA1Cn2UF" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1Cn2UF.jpg"/>

 Earlier, the buffer stood at 2.5 percent, but it was increased during the Covid pandemic.


 The Barefoot Investor stated that the buffer serves as a 'stress test'.


 "When you apply for a home loan, the bank verifies whether you can manage the payments even if interest rates increase," he penned in his column for
 NewsCorp
 .


 'If the interest rate is 6 percent, they check if you can still manage the payments at 9 percent.'


 It's referred to as a 'stress test' — designed to prevent individuals from taking on more debt than they can handle when interest rates increase.


 And, as a financial counselor, I believe this is a very wise policy that maintains pressure on bankers.


 Mr. Pape mentioned that Mr. Sukkar had a different perspective on the matter.


 "He contends that reducing the down payment would enable first-time homebuyers to secure larger loans. This statement holds merit," he penned.

<img data-document-id="cms/api/amp/image/AA1Cn2UI" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1Cn2UI.jpg"/>

 However, consider this for approximately six seconds: Reducing the buffer would allow everybody to borrow more — which they surely would — and all that would accomplish is pushing house prices higher still.


 Sukkar’s strategy is akin to wanting the last withered dim sim that has been languishing in the servo steamer since last Sunday.


 Penny, I understand you're hungry, but if you decide to consume whatever Sukkar is offering, ensure you keep a Hazmat suit nearby, a frozen toilet paper roll ready, and a plumber on call.


 When the announcement was made, Mr Sukkar stated that there was an inherent bias towards accumulated inheritance.


 He stated, 'At present, those Aussies who can’t rely on the "Bank of Mum and Dad" face higher lending rates — despite their risks being the same or lesser.'


 'This is an inherent bias towards accumulated wealth. We aim to eliminate it.'


 The Coalition will not agree to a scenario where a generation of Australians lacks the same chances for homeownership as earlier generations had.

Read more

Barefoot Investor Debunks Home Loan Change as 'Too Good to Be True'

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Scott Pape dismisses the Coalition's housing proposal. Michael Sukkar aimed at tightening lending criteria READ MORE: Barefoot Investor advises Aus…

Barefoot Investor Debunks Home Loan Change as 'Too Good to Be True' in Ireland

Unknown economics, home and property, home loans, personal finance real estate, real estate

<ul class="mol-bullets-with-font">
 <li class="class">
 
 
 Scott Pape dismisses Coalition's housing proposal
 
 
 </li>
 <li class="class">
 
 
 Michael Sukkar aimed at adjusting lending criteria
 
 
 </li>
 <li class="class">
 
 READ MORE: Barefoot Investor advises Australians to prepare for potential cost-of-living challenges
 
 </li>
</ul>

 The Barefoot Investor has strongly criticized a suggestion from the Coalition to relax borrowing regulations with the aim of assisting Australians in purchasing homes, arguing that this would merely lead to higher real estate costs.


 Scott Pape stated this following an inquiry from worried tenant Penny, who reached out regarding a proposition that was advocated for by the opposition.
 housing minister
 Michael Sukkar.


 "I am 32 years old, work as a teacher, and currently live in rented accommodation with my partner who is also a teacher," she penned.


 We're putting in a lot of effort and cutting costs wherever possible, but the notion of becoming homeowners seems out of reach.
 Melbourne
 It still seems unattainable.


 We don't have wealthy parents or co-signers — my mother is also a renter, and my partner’s parents are still paying for their house.


 'I was scrolling through property updates when I came across an article citing the Liberals' intentions to relax borrowing regulations to assist purchasers who can’t rely on financial support from their parents. Does this have implications for folks like us, or is it merely election-season chatter?'


 Mr Sukkar disclosed on Tuesday that his focus would be on the serviceability buffer for home loans should the Coalition gain power in the upcoming federal election.
 election
 .


 The Australian Prudential Regulation Authority, which serves as the financial watchdog, mandates that banks must assess home loan applicants based on their capacity to manage their mortgage payments considering both the prevailing interest rates along with an extra three percent.

<img data-document-id="cms/api/amp/image/AA1Cn7Iw" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1Cn7Iw.jpg"/>

 Previously, the buffer stood at 2.5 percent, but it was increased during the Covid pandemic.


 The Barefoot Investor stated that the buffer serves as a 'stress test'.


 "When applying for a mortgage, the bank verifies whether you can still manage the payments even if interest rates increase," he penned in his newspaper column.
 NewsCorp
 .


 'If the interest rate is 6 percent, they check if you can still manage payments at 9 percent.'


 It's referred to as a "stress test" — designed to prevent individuals from taking on more debt than they can handle when (let’s face it, if) interest rates increase.


 And, as a financial counselor, I believe this is a very wise policy that maintains pressure on bankers.


 Mr Pape stated that Mr Sukkar had a different perspective.


 "He contends that reducing the initial deposit requirement would enable first-time homebuyers to secure larger loans. This statement holds merit," he noted.

<img data-document-id="cms/api/amp/image/AA1CnhpR" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CnhpR.jpg"/>

 But let's consider this for approximately six seconds: Reducing the buffer would allow everybody to borrow more – which they certainly would – and all that would accomplish is pushing housing prices even higher.


 Sukkar’s plan is akin to eying the last limp dim sim that has been languishing in the servo steam cabinet since last weekend.


 Penny, I understand you're hungry, but if you decide to consume whatever Sukkar is offering, ensure you keep a Hazmat suit close at hand, a frozen pack of toilet paper ready, and a plumber on call.


 When the statement was made, Mr Sukkar indicated that there was an inherent prejudice supporting wealth passed down through generations.


 "At present, those Aussies who can’t rely on the 'Bank of Mum and Dad' face higher lending fees — despite the genuine risk being the same or perhaps even smaller," he stated.


 'This represents an inherent favoritism towards accumulated wealth passed down through generations. We aim to eliminate this.'


 The Coalition will not tolerate a scenario where a generation of Australians lacks the same chances for homeownership as those from earlier generations enjoyed.

Read more

Barefoot Investor Debunks Home Loan Change as 'Too Good to Be True' in Ireland

Unknown economics, home and property, home loans, personal finance real estate, real estate

Scott Pape dismisses Coalition's housing proposal Michael Sukkar aimed at adjusting lending criteria READ MORE: Barefoot Investor advises Australia…

Florence Welch Buys Haunted £1.9M Somerset Estate

Unknown heritage, home and property, music, news, real estate

Florence Welch
 Has purchased a £1.9 million property in Somerset and has been awaiting relocation for the past four years because of significant refurbishments.


 The frontman of the indie rock group
 Florence and The Machine
 In 2021, they initially purchased the Grade II listed property and submitted their concluding designs last year to partly tear down certain buildings as part of the renovation project.


 The proposals indicate that Welch, aged 38, aims to bring together the four individual structures on the property—buildings that have functioned as independent residences since the 1940s. She managed this feat after purchasing the last remaining structure on the site in 2023.


 Documentation indicates that none of the neighbors have raised objections to the plans; however, they might upset a previous resident of the property—a ghost.


 As per local legends, the apparition of a grey lady has been seen at the historical site.


 According to a book chronicling the regional folklore, an unsettling female apparition was spotted in that location during the 1970s.


 It remains unclear if Welch knows about the 'grey lady' potentially inhabiting her new home, yet she is recognized for being connected to her spiritual side as a musician.


 The musician has delved into themes of the supernatural, the occult, witchcraft, pagan rituals, and Wiccan customs through her compositions.

<img data-document-id="cms/api/amp/image/AA1CmSiu" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CmSiu.jpg"/>
<img data-document-id="cms/api/amp/image/AA1CmSiw" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CmSiw.jpg"/>
<img data-document-id="cms/api/amp/image/AA1CmKOS" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CmKOS.jpg"/>

 "I dedicated many hours to poring over books and gazing at ancient historical structures, firmly believing in the existence of spirits and vampires, and feeling an intensified awareness of such phenomena occurring all around me," Welch said to Vice in 2015.


 She even initiated a witch circle at her school. 'My two friends and I created these grimoires where we would attempt to cast spells on our fellow students,' she shared with the magazine.


 Maybe having a mystical presence at her new property could be an advantage for the spiritually inclined singer.


 Welch has previously declined to specify her spiritual beliefs, but she mentions that her mother, the vice-chancellor of Bristol University, Evelyn Welch, has described her as an 'animist.'


 An animist holds the belief that items, locations, and living beings each have their own unique spiritual presence.


 The independent vocalist’s ‘initial spiritual experience’ occurred during her childhood in Camberwell, South London, where she was raised and continues to reside, as stated in an interview featured in the New York Times Style section of their Australian edition.

<img data-document-id="cms/api/amp/image/AA1CmPAG" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CmPAG.jpg"/>
<img data-document-id="cms/api/amp/image/AA1CmItj" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CmItj.jpg"/>

 The magazine quoted her as saying she recalls 'simply gazing at rays of light streaming through her bedroom window and feeling a sense of connection to something greater.' This was published in December.


 The property, tracing its origins to the 12th century, encompasses 1.2 acres in a tranquil Somerset village. It features numerous ancillary buildings and meticulously maintained gardens.


 The estate comprises sixty rooms distributed over three levels along with additional features such as a scullery, an impressive great hall, a swimming pool, and a folly.


 The independent artist has filed six development plans for her future residence since acquiring the plot of land, with these proposals either accepted or currently under review.


 Representatives from Welch did not provide comments upon being reached out to.

Read more

Florence Welch Buys Haunted £1.9M Somerset Estate

Unknown heritage, home and property, music, news, real estate

Barefoot Investor Debunks Home Loan Advice: Is It Too Good to Be True?

Unknown economics, home and property, home loans, personal finance real estate, real estate

<ul class="mol-bullets-with-font">
 <li class="class">
 
 
 Scott Pape dismisses the Coalition's housing proposal
 
 
 </li>
 <li class="class">
 
 
 Michael Sukkar aimed at tightening lending criteria
 
 
 </li>
 <li class="class">
 
 EXPLORE FURTHER: Barefoot Investor advises Australians to prepare for potential cost-of-living challenges
 
 </li>
</ul>

 The Barefoot Investor has strongly criticized a suggestion by the Coalition to relax borrowing regulations with the aim of assisting Australians in purchasing homes, arguing that it will merely push up real estate costs.


 Scott Pape stated this following an inquiry from worried tenant Penny, who reached out regarding the suggestion that was backed by the opposition party.
 housing minister
 Michael Sukkar.


 "I am 32 years old, working as a teacher, and currently living with my partner who is also a teacher," she penned down.


 'We’re putting in a lot of effort and cutting costs wherever possible, yet the dream of homeownership seems out of reach.'
 Melbourne
 It still seems unattainable.


 'We don’t come from wealthy families with benefactors – even my mother is a renter, and my partner’s folks are still working on their mortgage.'


 'I was scrolling through property updates when I came across an article citing ... the Liberals' proposals to relax borrowing regulations to assist purchasers who can’t rely on financial support from their parents. Does this have implications for folks like us, or is it merely election-season chatter?'


 Mr Sukkar disclosed on Tuesday that his focus would be on the serviceability buffer for home loans should the Coalition assume power in the upcoming federal election.
 election
 .


 The financial regulator – the Australian Prudential Regulation Authority – requires banks to consider home loan applicants' ability to service their mortgage at the current interest rate, plus an additional three per cent.

<img data-document-id="cms/api/amp/image/AA1Cn5jn" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1Cn5jn.jpg"/>

 Previously, the buffer stood at 2.5 percent before it was increased during the Covid pandemic.


 The Barefoot Investor stated that the buffer acts as a 'stress test'.


 "When applying for a housing loan, the bank assesses whether you can still manage the payments even if interest rates increase," he penned in his column for
 NewsCorp
 .


 'If the interest rate is 6 percent, they check if you can still manage payments at 9 percent.'


 It's referred to as a 'stress test' — designed to prevent individuals from taking on more debt than they can handle when interest rates increase.


 And, being a financial counselor, I believe this is a very wise policy that puts pressure on bankers.


 Mr Pape mentioned that Mr Sukkar had a different perspective.


 "He contends that reducing the down payment would enable first-time homebuyers to secure larger loans. This statement holds merit," he noted.

<img data-document-id="cms/api/amp/image/AA1Cnf7T" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1Cnf7T.jpg"/>

 But consider this for approximately six seconds: Reducing the buffer would allow everybody to borrow more – which they surely would – and all that would accomplish is pushing house prices higher still.


 Sukkar’s plan is akin to eying the last limp dim sim that has been languishing in the servo steam cabinet since last Sunday.


 Penny, I understand you're hungry, but if you decide to go for whatever Sukkar is offering, ensure you've got a Hazmat suit ready, a frozen toilet paper roll, and a plumber on call.


 When the statement was made, Mr Sukkar mentioned that there is an inherent prejudice supporting wealth passed down through generations.


 "At present, those Aussies who can’t rely on the 'Bank of Mum and Dad' face tougher borrowing conditions — despite carrying equal or lesser risks," he stated.


 'There's an inherent bias supporting inherited wealth. We'll eliminate this.'


 The Coalition will not agree to a scenario where a generation of Australians lacks the same chances for homeownership as those from earlier generations enjoyed.

Read more

Barefoot Investor Debunks Home Loan Advice: Is It Too Good to Be True?

Unknown economics, home and property, home loans, personal finance real estate, real estate

Scott Pape dismisses the Coalition's housing proposal Michael Sukkar aimed at tightening lending criteria EXPLORE FURTHER: Barefoot Investor advise…

Florence Welch Buys Haunted £1.9M Somerset Estate in Malaysia

Unknown heritage, home and property, music, news, real estate

Florence Welch
 Has purchased a £1.9 million property in Somerset and has been awaiting relocation for the past four years because of extensive refurbishments.


 The frontman of the indie rock group
 Florence and The Machine
 In 2021, they initially purchased the Grade II listed property and submitted their concluding development plans the previous year to partly tear down certain buildings as part of the renovation process.


 The proposals indicate that Welch, who is 38 years old, aims to bring together the four individual structures on the property—previously utilized as distinct residences since the 1940s—into one cohesive whole. This move follows her acquisition of the last structure on the premises in 2023.


 Records indicate that none of the neighbors have raised objections to the plans, yet they might disturb a previous resident of the property—a ghost.


 As per local legends, the apparition of a grey lady has been seen at the historical site.


 According to one book detailing the local myths of the region, an unsettling feminine apparition was spotted there during the 1970s.


 It remains unclear if Welch knows about the 'grey lady' possibly inhabiting her new home, yet she is recognized for being connected to her spiritual side as a musician.


 The musician has delved into themes of the supernatural, the occult, witchcraft, pagan rituals, and Wiccan customs in her compositions.

<img data-document-id="cms/api/amp/image/AA1CmSi1" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CmSi1.jpg"/>
<img data-document-id="cms/api/amp/image/AA1CmG9Y" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CmG9Y.jpg"/>
<img data-document-id="cms/api/amp/image/AA1CmGa2" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CmGa2.jpg"/>

 "I dedicated many hours to poring over books and exploring ancient structures, firmly believing that spirits roamed freely, vampires lurked in the shadows, and I had an acute awareness of such supernatural occurrences surrounding me," Welch said to Vice in 2015.


 She went so far as to initiate a witch coven at her school. She explained to the magazine, 'My two friends and I created these spellbooks where we would attempt casting spells on our fellow students.'


 Maybe having a mystical presence at her new home could be an advantage for the spiritually inclined singer.


 Welch has previously declined to specify her spiritual beliefs, but she mentions that her mother, who is the vice-chancellor of Bristol University and named Evelyn Welch, refers to her as an 'animist.'


 A person who follows animism thinks that various entities like objects, locations, and living beings each have their own unique spiritual energy.


 The independent artist's first significant spiritual experience occurred during her childhood in Camberwell, South London, where she was raised and continues to reside. This revelation was made in an interview featured in the New York Times Style section of their Australian edition.

<img data-document-id="cms/api/amp/image/AA1CmGa6" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CmGa6.jpg"/>
<img data-document-id="cms/api/amp/image/AA1CmGa7" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CmGa7.jpg"/>

 The magazine quoted her as saying, "I just remember looking at rays of light streaming through my bedroom window and feeling a connection to something bigger," back in December.


 The property, tracing its roots back to the 12th century, occupies 1.2 acres in a tranquil Somerset village. It features numerous ancillary structures along with meticulously maintained gardens.


 The estate boasts sixty chambers spread over three levels along with a scullery, an impressive great hall, a swimming pool, and a folly.


 The independent artist has filed six development plans for her future residence since acquiring the property, with these submissions currently awaiting approval or already sanctioned.


 When reached out to, Welch's representatives declined to comment.

Read more

Florence Welch Buys Haunted £1.9M Somerset Estate in Malaysia

Unknown heritage, home and property, music, news, real estate

Florence Welch Has purchased a £1.9 million property in Somerset and has been awaiting relocation for the past four years because of extensive refurbishments. The frontman of the indie rock group …

Barefoot Investor Debunks Home Loan Scheme as 'Too Good to Be True'

Unknown economics, home and property, home loans, personal finance real estate, real estate

<ul class="mol-bullets-with-font">
 <li class="class">
 
 
 Scott Pape dismisses the Coalition's housing proposal.
 
 
 </li>
 <li class="class">
 
 
 Michael Sukkar aimed at adjusting lending criteria.
 
 
 </li>
 <li class="class">
 
 READ MORE: The Barefoot Investor advises Australians to prepare for potential increases in living costs.
 
 </li>
</ul>

 The Barefoot Investor has strongly criticized a suggestion from the Coalition to relax borrowing regulations to assist Australians in purchasing homes, arguing that it will merely inflate real estate costs.


 Scott Pape made the assertion following an inquiry from worried tenant Penny, who reached out regarding the suggestion that was backed by the opposition party.
 housing minister
 Michael Sukkar.


 "I am 32 years old, work as a teacher, and currently live in a rented place with my boyfriend who is also a teacher," she penned down.


 'We’re putting in lots of effort and cutting costs wherever possible, yet the dream of homeownership feels out of reach.'
 Melbourne
 It still seems unattainable.


 We don’t come from wealthy families with supportive parents or co-signers—my mother is a renter too, and my partner’s folks are still working on paying off their house.


 I was scrolling through property updates when I came across an article citing the Liberals' intentions to relax borrowing regulations to assist purchasers who don’t have financial support from their parents. Does this have implications for folks like us, or is it merely election-season chatter?


 On Tuesday, Mr. Sukkar disclosed that should the Coalition assume power in the upcoming federal election, his focus would be on targeting the serviceability buffer for home loans.
 election
 .


 The regulatory body for finance – the Australian Prudential Regulation Authority – mandates that banks must assess home loan applicants based on their capability to manage their mortgage payments considering both the present interest rates as well as an added three percent.

<img data-document-id="cms/api/amp/image/AA1Cn0ph" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1Cn0ph.jpg"/>

 Previously, the buffer was set at 2.5 percent, but it was increased during the Covid pandemic.


 The Barefoot Investor stated that the buffer acts as a 'stress test'.


 "When applying for a home loan, the bank verifies whether you can manage the payments even if interest rates increase," he penned in his column for
 NewsCorp
 .


 'Therefore, if the interest rate is 6 percent, they check if you can still manage the payments at an increased rate of 9 percent.'


 It's referred to as a "stress test" — designed to prevent individuals from taking on more debt than they can handle when interest rates increase.


 And, being a financial counselor, I believe this is a very wise policy that maintains pressure on bankers.


 Mr. Pape mentioned that Mr. Sukkar had a different perspective on the matter.


 "He contends that reducing the down payment allowance would enable first-time homebuyers to secure larger loans. This statement holds merit," he noted.

<img data-document-id="cms/api/amp/image/AA1Cn7uE" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1Cn7uE.jpg"/>

 But let's consider this for, perhaps, six seconds: Reducing the buffer would allow everybody to borrow more – which they surely would – and all that would accomplish is pushing house prices higher still.


 Sukkar’s plan is akin to wanting the last squishy dim sim that has been lingering in the servomechanism heater since last weekend.


 Penny, I understand you're hungry, but if you decide to go for whatever Sukkar is offering, ensure you keep a hazmat suit ready, a frozen toilet paper roll, and contact a plumber just in case.


 When the announcement was made, Mr. Sukkar stated that there was an inherent prejudice supporting wealth passed down through generations.


 "At present, those Australians who do not have access to the 'Bank of Mum and Dad' face higher lending fees — despite the fact that their real risk might be the same or even less," he stated.


 'That reflects a systematic preference for wealth passed down through generations. We aim to eliminate this.'


 The Coalition will not agree with a scenario where a group of Australians lacks the same chances for homeownership as earlier generations had.

Read more

Barefoot Investor Debunks Home Loan Scheme as 'Too Good to Be True'

Unknown economics, home and property, home loans, personal finance real estate, real estate

Scott Pape dismisses the Coalition's housing proposal. Michael Sukkar aimed at adjusting lending criteria. READ MORE: The Barefoot Investor advises…

Florence Welch Buys Haunted £1.9M Somerset Estate: Ghosts Included?

Unknown heritage, home and property, music, news, real estate

Florence Welch
 Has purchased an estate worth £1.9 million in Somerset and has been anticipating the move-in for the past four years because of significant refurbishments.


 The frontman of the alternative rock group
 Florence and The Machine
 In 2021, they initially purchased the Grade II listed property and submitted their concluding designs last year to partly tear down certain buildings as part of the renovation project.


 The designs indicate that Welch, who is 38 years old, aims to bring together the four individual structures on the property—buildings that have served as independent residences since the 1940s. She managed this feat after purchasing the last remaining structure on the site in 2023.


 Documentation indicates that none of the neighbors have raised objections to the plans; however, they might disturb a previous resident of the property—a ghost.


 As per local legends, the apparition of a grey lady has been seen at the historical site.


 According to one book detailing the local myths of the region, an unsettling feminine apparition was spotted there during the 1970s.


 It remains unclear if Welch knows about the 'grey lady' who might inhabit her new home, though she is recognized for being connected to her spiritual side as a musician.


 The musician has delved into themes of the supernatural, the occult, witchcraft, pagan rituals, and Wiccan customs within her musical compositions.

<img data-document-id="cms/api/amp/image/AA1CmUG2" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CmUG2.jpg"/>
<img data-document-id="cms/api/amp/image/AA1CmKO0" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CmKO0.jpg"/>
<img data-document-id="cms/api/amp/image/AA1CmWQG" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CmWQG.jpg"/>

 "I dedicated many hours to poring over books and exploring ancient historical structures, firmly believing that spirits roamed freely, vampires walked among us, and I had an intensified awareness of such occurrences surrounding me," Welch said to Vice in 2015.


 She even initiated a witch circle at her school. 'My two friends and I created these grimoires where we would attempt spells on our fellow students,' she shared with the magazine.


 Maybe having a mystical aura at her new property could be an added advantage for the spiritually inclined songstress.


 Welch has formerly declined to specify her spiritual beliefs, but she mentions that her mother, the vice-chancellor of Bristol University, Evelyn Welch, has characterized her as an 'animist.'


 Animists hold the belief that various entities such as objects, locations, and living beings each have their own unique spiritual energy.


 The independent artist's first significant spiritual experience happened during her childhood in Camberwell, South London, where she was raised and continues to reside. This revelation was shared in an interview with the New York Times Style section, published in Australia.

<img data-document-id="cms/api/amp/image/AA1CmG9j" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CmG9j.jpg"/>
<img data-document-id="cms/api/amp/image/AA1CmNc3" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CmNc3.jpg"/>

 The magazine stated in December that she recalls "simply gazing at rays of light streaming through her bedroom window and feeling a connection to something greater."


 The property, tracing its roots back to the 12th century, encompasses 1.2 acres in a tranquil Somerset village. It includes various ancillary structures and beautifully maintained gardens.


 The estate boasts sixty chambers spread over three levels along with a scullery, an impressive great hall, a swimming pool, and a folly.


 The independent artist has filed six development plans for her future residence since acquiring the plot of land, with these proposals either accepted or currently under review.


 Representatives from Welch did not provide comments upon being reached out.

Read more

Florence Welch Buys Haunted £1.9M Somerset Estate: Ghosts Included?

Unknown heritage, home and property, music, news, real estate

Florence Welch Has purchased an estate worth £1.9 million in Somerset and has been anticipating the move-in for the past four years because of significant refurbishments. The frontman of the alter…

Barefoot Investor Debunks Home Loan Change as 'Too Good to Be True'

Unknown economics, home and property, home loans, personal finance real estate, real estate

<ul class="mol-bullets-with-font">
 <li class="class">
 
 
 Scott Pape dismisses the Coalition's housing proposal
 
 
 </li>
 <li class="class">
 
 
 Michael Sukkar aimed at tightening lending criteria.
 
 
 </li>
 <li class="class">
 
 READ MORE: Barefoot Investor advises Australians to prepare for potential cost-of-living challenges
 
 </li>
</ul>

 The Barefoot Investor has strongly criticized a suggestion by the Coalition to relax borrowing regulations with the aim of assisting Australians in purchasing homes, arguing that it will merely push up real estate costs.


 Scott Pape made this statement following an inquiry from worried tenant Penny, who reached out regarding a proposition pushed by the opposition.
 housing minister
 Michael Sukkar.


 "I am 32 years old, working as a teacher, and currently living together with my boyfriend who is also a teacher," she penned down.


 'We’re putting in lots of effort and cutting costs wherever possible, yet the thought of becoming homeowners seems distant.'
 Melbourne
 It still seems unattainable.


 We don’t have wealthy parents or guarantors—my mother is also a renter, and my partner’s folks are still paying for their house.


 'I was scrolling through property updates when I came across an article citing the Liberals' proposals to relax borrowing regulations to assist purchasers who don’t have financial support from their parents. Does this hold any significance for folks like us, or is it merely election-season chatter?'


 Mr Sukkar disclosed on Tuesday that his priority for the upcoming federal election, should the Coalition gain power, would be addressing the serviceability buffer concerning home loans.
 election
 .


 The financial authority – the Australian Prudential Regulation Authority – mandates that banks must assess home loan applicants’ capability to manage their mortgages considering both the present interest rates as well as an extra three percent.

<img data-document-id="cms/api/amp/image/AA1Cn7Ms" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1Cn7Ms.jpg"/>

 Previously, the buffer stood at 2.5%, but it was increased during the Covid pandemic.


 Mr Pape from The Barefoot Investor described the buffer as a 'stress test'.


 "When applying for a housing loan, the bank assesses whether you can manage the payments even if interest rates increase," he penned in his column for
 NewsCorp
 .


 'If the interest rate is 6 percent, they check if you can still manage payments at 9 percent.'


 It's referred to as a 'stress test' – designed to prevent individuals from taking on more debt than they can handle when interest rates increase.


 And, as a financial counselor, I believe this is a very prudent policy that maintains pressure on bankers.


 Mr Pape mentioned that Mr Sukkar had a different perspective.


 "He contends that reducing the down payment would enable first-time homebuyers to secure larger loans. This statement holds merit," he noted.

<img data-document-id="cms/api/amp/image/AA1Cnate" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1Cnate.jpg"/>

 But let's consider this for, perhaps, six seconds: Reducing the buffer would imply that everybody could take out larger loans – which they would – and all that would accomplish is pushing house prices even higher.


 Sukkar’s plan is akin to eying the last limp dim sim that has been stewing in the servo steam cabinet since last weekend.


 Penny, I understand you're hungry, but if you decide to eat whatever Sukkar is offering, ensure you've got a Hazmat suit ready, a frozen toilet paper roll, and contact a plumber just in case.


 When the announcement was made, Mr Sukkar stated that there was an inherent prejudice supporting inherited wealth.


 "At present, those Aussies who can’t rely on the 'Bank of Mum and Dad' face tougher borrowing conditions – despite carrying equal or lesser risk," he explained.


 'That reflects a systematic preference for accumulated wealth. We aim to eliminate this.'


 The coalition will not tolerate a scenario where a cohort of Australians lacks the same chances for homeownership as those from prior generations.

Read more

Barefoot Investor Debunks Home Loan Change as 'Too Good to Be True'

Unknown economics, home and property, home loans, personal finance real estate, real estate

Scott Pape dismisses the Coalition's housing proposal Michael Sukkar aimed at tightening lending criteria. READ MORE: Barefoot Investor advises Aus…

Florence Welch Buys Haunted £1.9m Somerset Estate in Singapore

Unknown heritage, home and property, music, news, real estate

Florence Welch
 Has purchased a £1.9 million property in Somerset and has been awaiting relocation for the past four years because of extensive refurbishments.


 The frontman of the indie rock group
 Florence and The Machine
 In 2021, they initially purchased the Grade II listed property and submitted their concluding development plans the previous year to partly tear down certain buildings as part of the renovation project.


 The proposals indicate that Welch, aged 38, aims to bring together the four individual structures on the property—previously utilized as distinct residences since the 1940s—into one unified whole. This move follows her acquisition of the last structure within the complex in 2023.


 Records indicate that none of the neighbors have raised objections to the plans, but they might potentially bother a previous resident of the property—a ghost.


 As per local legends, the apparition of a grey lady has been seen at the historical site.


 According to one book chronicling the local myths of the region, an unsettling feminine apparition was spotted there during the 1970s.


 It remains unclear if Welch knows about the potential presence of the 'grey lady' in her new home, but she is certainly attuned to her spiritual side as a musician.


 The musician delves into themes of the supernatural, the occult, witchcraft, pagan rituals, and Wiccan customs through her compositions.

<img data-document-id="cms/api/amp/image/AA1CmIw7" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CmIw7.jpg"/>
<img data-document-id="cms/api/amp/image/AA1CmKRV" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CmKRV.jpg"/>
<img data-document-id="cms/api/amp/image/AA1CmPCr" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CmPCr.jpg"/>

 "I dedicated much of my time reading books and exploring ancient structures, firmly believing in the existence of spirits and vampires, and feeling an intense awareness of such phenomena occurring around me," Welch shared with Vice in 2015.


 She even initiated a witch circle at her school. 'My two friends and I created these grimoires where we would attempt spells on our fellow students,' she shared with the magazine.


 Maybe having a mystical presence at her new property could be an advantage for the spiritually inclined singer.


 Welch has previously declined to specify her spiritual beliefs, but she mentions that her mother, the vice-chancellor of Bristol University, Evelyn Welch, has described her as an 'animist.'


 A person who follows animism thinks that various entities like objects, locations, and living beings each have their own unique spiritual energy.


 The independent artist's first significant spiritual experience occurred during her childhood in Camberwell, South London, where she was raised and continues to reside. This revelation was made in an interview published in the New York Times Style section of their Australian edition.

<img data-document-id="cms/api/amp/image/AA1CmGd9" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CmGd9.jpg"/>
<img data-document-id="cms/api/amp/image/AA1CmSm9" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CmSm9.jpg"/>

 The magazine quoted her as saying, "'Just gazing at rays of light filtering through my bedroom window gave me this sense of being linked to something greater.'" This statement was shared in December.


 The property, tracing its origins to the 12th century, occupies 1.2 acres of land featuring various ancillary buildings and well-manicured gardens in a tranquil Somerset village.


 The estate features sixty chambers spread over three levels along with a scullery, an impressive great hall, a swimming pool, and a folly.


 The independent artist has filed six development plans for her future residence since acquiring the plot of land, with these proposals either accepted or awaiting validation.


 When reached for comment, Welch's representatives remained silent.

Read more

Florence Welch Buys Haunted £1.9m Somerset Estate in Singapore

Unknown heritage, home and property, music, news, real estate

Barefoot Investor Debunks Home Loan Change as 'Too Good to Be True'

Unknown economics, home and property, home loans, personal finance real estate, real estate

<ul class="mol-bullets-with-font">
 <li class="class">
 
 
 Scott Pape dismisses the Coalition's housing proposal.
 
 
 </li>
 <li class="class">
 
 
 Michael Sukkar aimed at tightening lending criteria
 
 
 </li>
 <li class="class">
 
 READ MORE: The Barefoot Investor advises Australians to prepare for potential cost-of-living challenges.
 
 </li>
</ul>

 The Barefoot Investor has strongly criticized a suggestion made by the Coalition to relax borrowing regulations with the aim of assisting Australians in purchasing homes, arguing that this move will merely push-up real estate costs.


 Scott Pape made this assertion following an inquiry from worried tenant Penny, who reached out regarding the suggestion that was backed by the opposition.
 housing minister
 Michael Sukkar.


 "I am 32 years old, work as a teacher, and currently rent an apartment with my partner who is also a teacher," she shared.


 'We’re putting in a lot of effort and cutting costs wherever possible, but the dream of homeownership seems out of reach.'
 Melbourne
 It still seems unattainable.


 We don't have wealthy parents or co-signers—my mother is a renter too, and my partner’s parents are still paying for their house.


 'I was scrolling through property updates when I came across an article citing the Liberals' intentions to relax borrowing regulations to assist purchasers who lack support from their parents. Does this have implications for folks like us, or is it merely election-season chatter?'


 On Tuesday, Mr. Sukkar disclosed that his plan involves focusing on the serviceability buffer for home loans should the Coalition assume office in the upcoming federal election.
 election
 .


 The financial regulator – the Australian Prudential Regulation Authority – requires banks to consider home loan applicants' ability to service their mortgage at the current interest rate, plus an additional three per cent.

<img data-document-id="cms/api/amp/image/AA1Cnapa" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1Cnapa.jpg"/>

 Previously, the buffer stood at 2.5 percent, but it was increased during the Covid pandemic.


 The Barefoot Investor stated that the buffer acts as a 'stress test'.


 "When applying for a mortgage, the bank assesses whether you can still manage the payments even if interest rates increase," he explained in his column for
 NewsCorp
 .


 'If the interest rate is 6 percent, they check if you can still manage payments at 9 percent.'


 It's referred to as a "stress test" — designed to prevent individuals from taking on more financial burden than they can handle when interest rates increase.


 And, as a financial advisor, I believe this is a very prudent policy that maintains pressure on bankers.


 Mr. Pape mentioned that Mr. Sukkar had a different perspective on the matter.


 "He contends that reducing the down payment would enable first-time homebuyers to secure larger loans. This statement holds merit," he noted.

<img data-document-id="cms/api/amp/image/AA1Cn31a" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1Cn31a.jpg"/>

 However, consider this for approximately six seconds: Reducing the buffer would lead to everyone being able to borrow more funds – which they surely would – and all that would accomplish is pushing house prices higher still.


 Sukkar’s strategy is akin to wanting the last withered dim sim that has been lingering in the servomechanism steamer since last weekend.


 Penny, I understand your hunger, but if you decide to consume whatever Sukkar is offering, ensure you keep a hazmat suit nearby, a frozen toilet paper roll ready, and contact a plumber ahead of time.


 When the statement was made, Mr Sukkar indicated that there was an inherent preference for accumulated wealth over generations.


 "At present, those Australians who do not have access to the 'Bank of Mum and Dad' face higher lending fees — despite the fact that their real risk might be the same or even less," he stated.


 'This represents an inherent bias towards accumulated wealth. We aim to eliminate this.'


 The coalition will not tolerate a scenario where a cohort of Australians lacks the same chances for homeownership as earlier generations had.

Read more

Barefoot Investor Debunks Home Loan Change as 'Too Good to Be True'

Unknown economics, home and property, home loans, personal finance real estate, real estate

Scott Pape dismisses the Coalition's housing proposal. Michael Sukkar aimed at tightening lending criteria READ MORE: The Barefoot Investor advises…

Florence Welch Buys Haunted £1.9M Somerset Estate: Ghostly Adventures Await?

Unknown heritage, home and property, music, news, real estate

Florence Welch
 Has purchased an estate valued at £1.9 million in Somerset and has been awaiting the move-in for the past four years because of significant refurbishments.


 The frontman of the indie rock group
 Florence and The Machine
 In 2021, they initially purchased the Grade II listed property and submitted their concluding development plans the previous year to partly tear down certain buildings as part of the renovation process.


 The designs indicate that Welch, who is 38 years old, aims to bring together the four distinct structures on the property—buildings that have functioned as individual residences since the 1940s. This unification will take place following her acquisition of the last structure on the premises in 2023.


 Documentation indicates that none of the neighbors have raised objections regarding the plans; however, they might potentially disturb a previous resident of the property—an entity believed to be a ghost.


 As per local legends, the apparition of a grey lady has been seen at the historical site.


 An unsettling woman-like entity was spotted during the 1970s as mentioned in a book chronicling the regional myths of the region.


 It remains unclear if Welch knows about the 'grey lady' potentially living in her new home, yet she is recognized for being connected to her spiritual self as a musician.


 The musician delves into themes of the supernatural, the occult, witchcraft, pagan rituals, and Wiccan customs through her compositions.

<img data-document-id="cms/api/amp/image/AA1CmUH8" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CmUH8.jpg"/>
<img data-document-id="cms/api/amp/image/AA1CmKPp" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CmKPp.jpg"/>
<img data-document-id="cms/api/amp/image/AA1CmKPs" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CmKPs.jpg"/>

 "I dedicated much of my time reading books and exploring ancient structures, firmly believing in the existence of spirits and vampires, and feeling an intense awareness of such occurrences around me," Welch shared with Vice in 2015.


 She even initiated a witch circle at her school. 'My two friends and I created these grimoires where we would attempt spells on our fellow students,' she shared with the magazine.


 Maybe having a mystical aura at her new property could be an advantage for the spiritually inclined singer.


 Welch has previously declined to specify her spiritual beliefs, but she mentions that her mother, the vice-chancellor of Bristol University, Evelyn Welch, has described her as an 'animist'.


 A person who follows animism thinks that various entities such as objects, locations, and living beings each have their own unique spiritual energy.


 The independent artist’s first significant spiritual experience occurred during her childhood in Camberwell, South London, where she was raised and continues to reside. This revelation was made in an interview published in the New York Times Style section of their Australian edition.

<img data-document-id="cms/api/amp/image/AA1CmSiU" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CmSiU.jpg"/>
<img data-document-id="cms/api/amp/image/AA1CmPAW" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CmPAW.jpg"/>

 The magazine quoted her as saying, "she simply looked at the rays of light streaming through her bedroom window and felt a connection to something greater," back in December.


 The property, tracing its roots back to the 12th century, spans across 1.2 acres in a tranquil Somerset village. It features numerous ancillary structures along with meticulously maintained gardens.


 The estate features sixty chambers distributed over three levels along with a scullery, an impressive great hall, a swimming pool, and a folly.


 The independent musician has filed six development plans for her upcoming residence since acquiring the plot of land, with these submissions now either accepted or awaiting validation.


 Representatives from Welch did not provide comments upon being reached out.

Read more

Florence Welch Buys Haunted £1.9M Somerset Estate: Ghostly Adventures Await?

Unknown heritage, home and property, music, news, real estate

Florence Welch Has purchased an estate valued at £1.9 million in Somerset and has been awaiting the move-in for the past four years because of significant refurbishments. The frontman of the indie…

Donald Trump's Childhood Home Sells for $1.2 Million Less: A Formative Auction Tale

Unknown donald trump, home and property, luxury real estate, mansions, real estate

<img data-document-id="cms/api/amp/slideshow/AA1CaIlU" data-reference="slideshow"/>

 <img data-document-id="cms/api/amp/image/AA1CaPza" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CaPza.jpg"/>
 <ul class="summary-list">
 <li>
 Trump's childhood home in Queens recently sold for a $1.2 million loss.
 </li>
 <li>
 The house was last sold for $2.1 million in 2017 but has since fallen into disrepair.
 </li>
 <li>
 The leader of the auction house that previously conducted the sale mentioned it as being the one with the highest profile.
 </li>
 </ul>
 
 President Donald Trump
 is known for
 The Craft of Negotiation
 . However
 
 ,
 
 
 his childhood home in Queens
 
 
 sold at a $1.2 million loss last month.
 
 
 
 While Trump had nothing to do with the sale of the
 Jamaica Estates home
 , where he resided until the age of four, it was recently sold for approximately $835,000 after having been listed at $2.1 million back in 2017.
 
 
 The records from New York City indicate that a 2,500-square-foot house situated 22 miles away from Manhattan was purchased by a New York-based limited liability company called the 1388 Group. This transaction occurred as part of an off-market deal, with the seller stating they simply required funds.
 the New York Post
 .
 
 
 In contrast to the previous two sales in 2016 and 2017, which garnered significant national media coverage as high-profile auctions, this particular sale flew under the radar. Misha Haghani, the CEO and founder of Paramount Realty, the auction company responsible for managing the initial two transactions, stated that he had never witnessed such an occurrence before.
 
 
 “I am quite certain that there has never been an auction on Earth for a property that garnered as much attention—I’m fairly positive about this,” Haghani stated to Business Insider.
 
 
 He was competing to become the 45th president of the United States," he mentioned. "Prior to him, there had been just 44 presidents of the U.S. Can you imagine how many of those early leaders' childhood houses might still be around today?
 
 <img data-document-id="cms/api/amp/image/AA1CaS9O" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CaS9O.jpg"/>
 
 At first, an in-person auction was scheduled for the same day as the final presidential debate in 2016, but due to significant interest, it needed to be rescheduled.
 
 
 Haghani thinks that the buzz around the initial sale boosted the property's price, estimating it was approximately valued at $950,000 back then.
 
 
 Haghani mentioned that the seller did receive an offer and was willing to proceed with the sale, resulting in the property being sold for $1.39 million in December 2016.
 
 
 In January 2017, the property went under the hammer once more—this time through a sealed bid auction, wherein potential buyers anonymously submitted their offers by a specified deadline. This second sale saw an increase of about 50%, with the residence fetching $2.14 million.
 
 
 Haghani mentioned that he was taken aback by the figures.
 
 
 Nevertheless, the most recent selling price was not unexpected, since the property had deteriorated quite badly lately.
 
 In October, the
 
 
 real estate website Curbed
 
 
 reported
 
 About 20 to 30 wild cats took over the deserted area.
 
 
 Trump's father, a real-estate developer, built the five-bedroom home and the neighborhood itself. According to
 Realtor.com
 The middle value for the asking price of a house in this area right now stands at $1.5 million.
 


 <img data-document-id="cms/api/amp/video/AA1BdC79" data-reference="video"/>
 
 If you liked this tale, make sure to follow
 Business Insider
 on MSN.

Donald Trump's Childhood Home Sells for $1.2 Million Less: A Formative Auction Tale

Unknown donald trump, home and property, luxury real estate, mansions, real estate

Trump's childhood home in Queens recently sold for a $1.2 million loss. The house was last sold for $2.1 million in 2017 but has since fallen into disrepair. The leader of…