3D Virtual Tours are fast becoming a staple of marketing a property. Aside from complimenting a new climate of ‘social distancing’, providing a contactless, interactive experience of a property over photos alone is the natural progression in a world where marketing has become so centered on having an impressive online presence.
A study by REA in April 2020 noted that 61% of viewers feel that properties with digital inspections make a listing feel more ‘premium’, and 62% felt more positively about the listing agent.
Asset Reports has been proud to work with home builders to bring their entire suite of display homes to life. Even amid the ease of restrictions, the Virtual Tours continue to be a valuable tool allowing viewers to get a sense of the size, scale and layout of the designs on offer in preparation for taking advantage of the new government incentives for building new properties.
In the lead up to tax time, we wanted to shed some light on what exactly Depreciation is and how it can save investors thousands in tax deductions. We prepared this interactive model to show exactly what can be depreciated in an investment property.
As an investment property ages the value of the materials used to build it decrease in value, this loss in value can be claimed as a deduction at tax time. Blue labelled items come under Capital Works (Division 43), or construction of the property, which are depreciable over 40 years.
A high-resolution, 360-degree virtual tour could be one of the key ways agents look to show potential buyers a property, following the ban on public open homes and auctions from midnight, Wednesday March 25.
Camera services and agents have reported a spike in inquiries for virtual tours of property listings in the past week to fill the void left by government-mandated social distancing measures.
Asset Reports partner Tom Williams said high-quality, 360-degree views of listed properties were an invaluable tool for vendors and buyers alike.
“It’s helping [agents] get the listing and helping them engage the right buyer,” Mr Williams said.
“I’ve seen easily a 50 to 60 per cent increase in more business than the week prior. We’ve doubled our bookings.
On 24th October Asset Reports and CoreLogic hosted 2020 Vision - an informative evening that asked 'What will future Property Buyers think when they look back at this point in time as a buying opportunity?'
We heard from Damian Collins (Momentum Wealth) about the benefits of collaborating with buyers agents for properties in key areas, while Tim Lawless (CoreLogic) provided an insight into the Perth property market and a forecast of the economic and population growth for WA.
On 24th October Asset Reports and CoreLogic hosted 2020 Vision - an informative evening that asked 'What will future Property Buyers think when they look back at this point in time as a buying opportunity?'
We heard from Damian Collins (Momentum Wealth) about the benefits of collaborating with buyers agents for properties in key areas, while Tim Lawless (CoreLogic) provided an insight into the Perth property market and a forecast of the economic and population growth for WA.
For the second quarter in a row, Perth’s rental market has continued to improve with the vacancy rate lowering to 2.5 per cent, 172 suburbs recorded an increase in leasing activity and 110 suburbs recorded an increase in median weekly rent.
REIWA Deputy President, Lisa Joyce said Perth’s rental market appears to be building on the momentum of the latter half of 2019.
“This is very encouraging – not just for the rental market, but also for the overall property market as historically, the sales market follows the rental market during a recovery,” Ms Joyce said.
The best lead generation advice we’ve seen from events across the country is to do an annual Health Check on your Rent Roll. Call each of your owners to discuss their investment properties - this is the best database of investors you have access to!
The below graph shows the number of Australians investing in property, and the number of properties they own. There is quite a large difference between the number of Australians that own 1 investment property compared to 2. Getting in touch with your clients to discuss their investment strategy is a great way to start transitioning them from the first column into the remaining columns.
We’d like to thank REIWA for hosting another great conference this year, and we were excited and honoured that our Director John Williams was invited to speak to the Commercial members.
The attendees were awarded CPD points for John’s presentation which was titled: “Strengthening Commercial Lease Agreements with Property Inspection Reports”. The objective from DMIRS was to demonstrate how Property Inspection Reports will:
• Increase levels of Consumer Protection
• Increase Public Confidence in the Property industry
• Raise Industry Standards
EOFY might be over but tax time is still in full swing!
Here are some tax tips for Rental Properties provided by The Tax Institute:
Keep all your receipts to justify the deductions that are being claimed. An absence of such receipts will make life very difficult if an audit calls for proof of the expense.
The property must either be rented, or “genuinely available" for rental in the income year for which a deduction is claimed. If you use the property for private purposes, you cannot claim expenses.
Last week we hosted an event to discuss the proposed Negative Gearing changes and how they will affect the Perth property market if Labor win next month.
We heard directly from Madeleine King MP on the reasons why Labor is pushing for the changes, while David Cresp (Property Economist from Urbis) provided an update on the current Perth market and an assessment of the effects these changes may have here.
Housing industry lobby groups are increasing the pressure on Bill Shorten to shelve Labor’s plans to restrict negative gearing to new homes and halve capital gains tax incentives, saying the moves will reduce investment in housing and decrease the number of homes being built.
Master Builders Association, the nation’s peak residential construction lobby group, launched a media campaign in Perth last week as the nation prepares to head to the polls, identifying 10 key issues for the sector, while highlighting that Labor’s proposals around negative gearing and capital gains taxes would hurt, rather than help, the industry.
