EOFY
How time flies! We are swiftly approaching June 30, which means it’s TAX TIME! As small business owners ourselves, we are all too familiar with the distinct nuances of being a property owner, business owner and busy parents preparing for June-July holidays! End of Financial Year allows to get informed and organised when thinking of your property and investment portfolio. Let us help you prepare for tax time!
Property prices are on the rise! The average house price in Brisbane increased by 1.4% in May alone*. The steady increase means your property value may have changed since you last evaluated your last appraisal, not to mention the infrastructure upgrades in the local area that are underway.
Nationally, demand is still very strong and increasing, with the average days on market locally sitting at 56 days. “While buyer demand has softened from the record highs seen 12 months ago, the level of activity among buyers at the moment is still very healthy,” PropTrack senior economist Anne Flaherty said.** Buyer demand and growth in larger homes in capital cities create a buzz in Brisbane’s Bayside suburbs.
Regardless of your plans for your property portfolio, we would love to update you on what is happening in the property market. We will provide you detailed End of Financial Year property analysis, including;
• A current market value opinion of your property
• A detailed market report of property sold in your area in the last 3 months
As a residential investment property owner, harnessing the power of depreciation deductions can significantly impact your cash flow. Among the myriad of tax deductions accessible to property investors, depreciation takes the second spot in terms of magnitude, trailing only behind interest deductions. There are a lot of resources regarding depreciation on investment properties, and we would advise employoing a Property Depreciation Specialist, to ensure you cover every deduction available to you. Also, the Australian Taxation Office has a myriad of tools and articles. Guide to depreciating assets 2023 (NAT 1996) (ATO)
Our understanding of the local area, national trends, and expertise ensures we consistently deliver quality results while navigating the successful sale for so many of our happy client’s homes! If you are thinking of upscaling, selling, investing, or simply staying put, you must speak to the local experts of Bayside property.
Book your free property health update by clicking here!
*Data provided by CoreLogic
**Data provided by REAInsights
For more insights head to our seller’s page here