Cairns Property View – January 2020

I hope you enjoyed your holidays and that 2020 works out very well for all of us.

Remember to stay off your devices whilst driving as the Queensland Government has announced from February 1, the penalties for illegally using a mobile phone while driving are increasing from a $400 fine and 3 demerit points to a $1000 fine and 4 demerit points.

HELP FOR FIRST HOME BUYERS: Sco-Mo’s $500 million First Home Loan Deposit Scheme is due to be rolled out from January 1, meaning 10,000 eligible borrowers will be able to get their foot in the door earlier.
Buyers usually need a 20% deposit to avoid paying mortgage insurance.
But under this scheme participants would only need a 5% deposit, with the Government guaranteeing the rest and covering the mortgage insurance under a special loan.
It will be limited to properties under $700,000 in Sydney, $600,000 in Melbourne and even less in other areas and to single Aussies with an annual income of up to $125,000 or $200,000 for couples.

Three key takeaways from the recent Australian Wealth Report article are;
  1. In Australia, the top 10% of people hold 47% of the wealth
  2. The bottom 50% hold 3.6% of the wealth
  3. Of Australia’s 8.6 trillion dollars in wealth, about 6 trillion is in property

In 2019 I helped 10 Buyers & 10 Sellers achieve their property goals successfully, I’m here to help you when you need to achieve yours.

Daniel Sheehan – selling real estate properly for you.
0409 265 326