Property Tax Grab
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What is the Queensland property tax grab and why is it significant?
it's the real estate podcast brought to you by anz home loans for financial well-beings and welcome to another episode of the real estate breakfast available on iheart radio every morning and also on spotify and apple and wherever you get your podcast from the weekend has arrived back again a saturday morning the 22nd day for october for 2022 a weekend of real estate, no doubt, all over Australia. And if you're doing anything around property, good luck in the challenge of either selling or buying or transacting with the paperwork if you're an agent, an auctioneer, even a lawyer. Sometimes lawyers work on the weekend even though they would never admit it. And remember, don't go to the local electrical shop to buy some light fittings.
And the belief that you know enough about electrical work, get a Sparky to do the job. I know it is a real hassle at the moment getting a contractor, especially with wait times. But trust me, it is better. than you croaking. Remember, no second chances if you get enough current passing through your body, which zaps out your heart. Coming up in just a moment, we are going to be talking to Nicola McDougall about the Queensland tax grab and her story about how she helped overturn it. Informing you every morning from 6.30, seven days a week on The Real Estate Breakfast. And if you're celebrating your birthday today for the 22nd of October, I see you're celebrating with Jeff Goldblum, the actor. He is turning 69 years young.
And it was a pretty important day today back in 1962 with the Cuban Missile Crisis.
How have recent interest rate changes affected the property market?
US President John F. Kennedy addresses an American nation about Russian missile bases in Cuba and imposes a naval blockade. And that was 60 years ago today. It's your Saturday morning real estate breakfast. We talk with leading property commentators with analysis, predictions, forecasts and what's trending every morning from 6.30. It's the main centre forecast with PRD, selling smarter every day. And let's have a look at your weekend weather on this Saturday morning. First we go to Sydney. Unfortunately, some showers to increase today, expecting a high of 25 degrees. In Melbourne, we are expecting the rain to ease today, a high of 19 degrees. In Brisbane, we're going to be splashing around in some rain.
23 is your forecast high. And in Perth today, partly cloudy, but it should be mainly dry. And 24 is your forecast top. It's your weekday real estate breakfast with news, interviews and predictions every morning on The Real Estate Podcast. Well, on this Saturday morning, let's check in with her thoughts and comments with Nicola McDougall, property commentator.
What impact did the proposed land tax have on property investors?
And a very good morning to you, Nicola. Welcome to the Real Estate Breakfast. Thank you for having me. Good to be here. been a while. In fact, the last time we spoke was three months ago. And since that time, we've had six rate rises. That's all unfolded. The market got spooked, but it's kind of holding steady, I guess, at the moment. Yeah, definitely. Lots of change in the last three months for sure. We have had, you know, rapid increase in interest rates. And clearly we are starting to see more of a broad based softening in prices across the country. We are seeing, you know, some relatively significant, I guess, annual declines compared to where we were this time last year. What's happening at the moment, though, I guess, is with that rapid increase in interest rates that we've seen, is that the borrowing capacity of many borrowers has been constrained significantly, certainly for investors.
How did the community respond to the Queensland land tax proposal?
Not because they don't want to, because they actually can't, because interest rates have gone up so much and we are still seeing that three percentage point servicing buffer there that is being used. If you could buy at the moment, you certainly would, because the market is probably better for you as a purchaser than it was this time last year. However, at the moment, we are starting to hear of many potential homebuyers and investors who are unable to access the finance to actually transact.
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Chapters
7 chapters
1
What is the Queensland property tax grab and why is it significant?
0:02–1:56
2
How have recent interest rate changes affected the property market?
1:56–3:16
3
What impact did the proposed land tax have on property investors?
3:16–4:11
4
How did the community respond to the Queensland land tax proposal?
4:11–5:21
5
What findings emerged from the investor sentiment survey?
5:21–7:04
6
What are the implications of the rental property shortage in Queensland?
7:04–8:36
7
How did the efforts to overturn the land tax reflect broader market trends?
8:36–10:21
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