Good Morning and welcome to 3 more years under a Liberal Government
Regardless of who you supported and voted for, I believe democracy was the winner and we as Australians have elected Scott Morrison to lead us into the future. So, what does this mean for us?
Well, firstly, all the talk of abolishing negative gearing and the halving of the capital gains benefit has now flown out the window. Negative gearing remains for all properties and the capital gains tax deduction is still 50% (if the property is held for longer than 12 months). This is good news for property investors and forecasters are predicting it will show in renewed confidence in the investment sector over the next 12 months.
Now…. the bad news. After the Royal Commission into the banking practices, the banks have really turned the screws on the application process to obtain finance. Many people who were approved for loans last year but did not buy, have found their approvals has not been re approved. Some cases the approvals are far lower, while some cases have seen any approval withdrawn all together.
As always, these things go around in cycles. It will be very interesting to see where we are in the next 6 months after the election has settled down. Most economists are forecasting the next movement in interest rates will be down.
Overall, with a stable government for the next 3 years, it is a great opportunity to get back into the market. We still have positive cashflow properties under $500,000 and within 30 – 35km from Brisbane CBD
My wife Sherree and I were talking about our goals and how lucky we were to work with clients to achieve such goals. The frustrating things for most people are that these dream goals still seem so far away. Sherree and I are working on a plan to bring at least one of those dream goals closer. To do this we need your help! I would like you to answer this simple question
If you could take off tomorrow to any where in the world for a dream holiday…. where would it be?
Simply reply to this email with your answer. It could be simply one word, or it could be a whole description of your dream vacation. Once we have all the answers ……. stand by for a big announcement.
Gary Sparks
Client First Investments
0400 911 170
gary@clientfirstgroup.com.au