The impact of Badgery's Creek Airport and Western Sydney Property will be significant. The Badgery's Creek Airport is 15 years away from completion. That's in my books, a total of two property cycles. We are already seeing an impact on property prices around the Badgery's Creek area. We will continue to see this, but how fast, will be determined by, the release of land and housing, population growth, business growth, government and infrastructure support.
The highlights from the federal budget for the property investors: Negative gearing tax break will remain untouched, Travel property expenses can no longer be incurred (this applies to all travel expenses), If plant and equipment was purchased by a previous owner, you as the current owner, cannot depreciate this expense, First homebuyers can use voluntarily superannuation contributions to build a home deposit fund, Capital gains tax reduction in affordable housing. Note specifics around time-frames.
In the last 5 years, New South Wales (specifically Sydney) has delivered on ‘near perfect’, if you are an investor. (If you are NRL State Origin supporter than this is the opposite case for you).Whilst the Sydney market is ‘in and out of the bubble’ talk of late, it is important to focus on the future. This is where Queensland has already turned the tide. With foreseeable smooth sailing to the Whitsundays!! There are so many great reasons why you should have an investment property in Queensland, if you haven't already. If you have, maybe it's time for another.
Sydney auction clearance rate is slightly down. But before we make assumptions that the Sydney market isn’t performing as well as it was, take note of the increase in the number of properties listed and the fact that there are less buyers in the market. And don't take notice of everything you see and read. Do your homework and discern between what's media smoke / speculation and what is actual fact. Stay away from regional areas unless you have done a very thorough investigation, and more so if this is your firs property investment.