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This was the same situation in Australia, despite the political elite suggesting otherwise, and other countries have also fallen into the same trap such as Canada. The HomeGround real estate agency in Australia is one with a difference. These aspirations are all good and well but how has a not-for-profit real estate agency gone down in Australia? The HomeGround real estate agency began life in 2014 having been set by community organisation Launch Housing in Melbourne. Like so many countries around the world Australia has seen a significant reduction in public housing stock and a significant increase in private sector rental properties.
The first thing to say is that all commissions are invested back into the business to encourage more investors to come forward with affordable housing. This is an opportunity for some investors to give back at a time when many are struggling to find accommodation right across Australia. As we touched on above, all commissions earned by HomeGround are invested back into the business to encourage more investors to step forward. The idea is that affordable properties are offered at a discount to the market rental rate in order to assist those on low income. There are set criteria for prospective tenants to ensure that they are able to cover the subsidised rental charges and the properties will be well looked after. While business is business, it is worth noting that subsidise rents can be used as a tax deduction as ruled by the Australian authorities. In effect this allows investors to offset their additional income against their reduced rental income. Many will already have worked out that while these properties may be rented at a discounted price there is still significant potential for capital growth going forward. This scheme is not for all investors because ultimately it does allow those with relatively large exposure to the real estate market to give something back. The fact that this reduction can be offset against their additional income is an interesting byproduct but not the main reason why it is proving popular. Some prospective tenants are sceptical about why investor would lease a property to a new tenant at a reduced rate especially when there is significant demand for private rental properties.
Whether we would see authorities in the UK allow a similar scheme is debatable. In some ways the HomeGround not-for-profit real estate agency is a win-win for all parties because low-income families now have options, landlords can collect tax incentives and investors will still benefit from long-term capital appreciation. However, to those struggling this could be the lifeline they have been waiting for. The Australian property market has been one of the best performing in the world for some time now, despite various attempts to drag prices south, but the Gold Coast is in a different league. Many people forget that Australia is one of same day loans direct lenders the few countries in the world not to dip into recession in the 2008 downturn which decimated the Western world. The Gold Coast is known as the recreation and holiday centre top rated payday loans of Australia but there is much more to it today. When the Gold Coast was awarded the 2018 Commonwealth Games many believed this was the icing on the cake for a region of Australia which has been central to its success. This has created unprecedented demand for land in the region and the construction of multibillion-dollar infrastructure projects just adds to its attraction. Indeed such is demand for property in the region that many of the old high-rise properties have been replaced by multimillion dollar accommodation. In reality Australia has been a very successful country for many years now although the award of the Commonwealth Games will change the Gold Coast forever.
Even now year-on-year increase in property prices in Queensland is double that of Brisbane and the Sunshine Coast. Just a couple of years ago there was a very interesting report about the Gold Coast suggesting it could become the metropolis to beat all metropolises.
In a sign of the times the Australian government recently introduced a number of measures making it more difficult for overseas investors to acquire Australian real estate. While politicians have been attempting to reduce the influence that overseas investors have on the Australian real estate market recent figures show they may have failed. In a surprise development the Austrian authorities have announced a raft of suspected cash advance calgary cases of illegal foreign ownership of Australian real estate. While there have been many scare stories and misinformation circulated regarding the Australian real estate market cold hard facts tend to speak louder to investors. The Australian real estate market has been a major beneficiary of overseas investment loans till payday during the last decade or so and this is likely to continue for the foreseeable future. Over the last few years there has been a massive increase in the number of regulations covering money-laundering and real estate investment. The Australian government seems to cash advance greenville sc be playing to the crowds with under pressure Prime Minister Tony Abbott announcing plans for new charges for foreign investors looking at real es... The Australian real estate market has been the talk of the property market for some time now with many experts believing that Australian property prices are significantly overvalue... The Australian authorities recently instigated an enquiry into the Australian real estate market amid concerns that the general public were being priced out of the market due to af...
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