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The latest CoreLogic data shows that despite a volatile 2020, beset by bushfire and COVID-19, Canberra houses have posted a 3.6 per cent rise so far, and for the past 12 months they are up 8.5 per cent.Units are up 0.8 per cent in 2020, and 2.7 per cent over the past 12 months.By contrast, Australian housing values racked up a third consecutive month of declines in July, with its home value index dropping 0.6 per cent over the month.But in Canberra home values rose 0.6 per cent, with units steady at 0.1 per cent and houses up 0.7 per cent. Adelaide posted a marginal 0.1 per cent increase.Melbourne (-1.2%) and Sydney (-0.9%) led the decline, recording the largest month-on-month falls in July, although over the last 12 months values remain well up.Canberra&#x27;s strong public sector base and minimal coronavirus impact has meant it is better off than other cities.Strong interest has also been reported in Canberra for the Federal Government&#x27;s HomeBuilder scheme which is offering $25,000 to eligible applicants interested in purchasing house and land packages or off the plan units.There have been relatively high auction listings and clearance rates across the last two weekends in Canberra.On 25 July, 39 properties were listed, with 32 reported and 24 sold for a clearance rate of 73 per cent and median price of $878,500.Last weekend, 41 properties were listed, 37 reported and 31 sold for a clearance rate of 82 per cent and median price of $843,500.CoreLogic head of research Tim Lawless says the housing markets generally have been resilient during the COVID-19 crisis, thanks to economic support packages but warns that will be tested when they fall away.“Urgent sales are likely to become more common as we approach these milestones, which will test the market’s resilience,&#x27;&#x27; he says.&quot;Similarly, the recent concerns of a second wave of the virus and the potential for renewed border closures and stricter social distancing policies are likely to further push consumer sentiment down. This is likely to weigh on both home buying and selling activity more broadly.”<img alt="CoreLogic Home Value Index tables. Image: CoreLogic." class="richtext-image full-width" height="759" src="https://d2t3vhau9g43uy.cloudfront.net/media/images/Home-values-July-1.width-800.png" width="650">CoreLogic Home Value Index tables. Image: CoreLogic.CoreLogic says real estate agent activity across Australia has recovered to the same levels as a year ago.The number of newly advertised properties is up 46 per cent from the recent lows of early May, and new capital city listings tracking 8.9 per cent above levels recorded this time last year.But the total listing count remains 15.2 per cent below last year’s level nationally and 12.5 per cent lower across the combined capitals. Sydney and Melbourne have led the falls in values, mainly in the higher end of the market.Mr Lawless says the pandemic remains a constant threat to the market.&#x27;&#x27;Further virus outbreaks present a clear and present danger to the depth and length of the recession, and the performance of the housing market,” he says.

Canberra property prices continue to defy the trends

Been thinking about buying or building a new home, or doing a major reno? Now could be the time to do it with some Canberrans able to access more than $35,000 in grants and stamp duty concessions from today.The Federal Government has announced its brand new HomeBuilder scheme, offering $25,000 cash grants for new home purchases or major renovations. The scheme is designed to help keep the construction sector going and keep people in the building industry employed.To qualify for the scheme, you have to be building a new home worth less than $750,000 or renovating an existing property valued at less than $1.5 million, plus pass an income test.But don’t expect to qualify if you’re just keen to get your DIY on and give your house a freshen up. The grant is only eligible for renovations that cost between $150,000 and $750,000, and you must engage a licensed builder. It also excludes structures separate to the main property, which means adding a swimming pool, tennis court or shed won’t make the cut, and is only available to owner occupiers.To qualify for the HomeBuilder grant, applicants must be earning $125,000 or less if they’re single, or couples must have a combined income of less than $200,000. The scheme is available to people who enter into contracts between June 4, 2020, and December 31, 2020, so unfortunately that means if you’re already in the process of building your dream home, you’ll miss out.And the news gets even better for Canberra residents.On top of HomeBuilder, the ACT Government has announced that stamp duty will be waived or reduced for 12 months on new land or off-the-plan apartments in Canberra.Starting today and running until June 30, 2021, Canberrans who buy new land single residential blocks, or an off-the-plan apartment or townhouse, valued up to $500,000 will not have to pay any stamp duty. For purchases of off-the-plan apartments and townhouses valued between $500,000 and $750,000, stamp duty will be reduced by $11,400.So now might be the time to step up the search for a brand new home, or get working on those renovation plans. Start your search for land or off-the-plan properties now on <a href="/">Zango</a>.

Everything you need to know about the HomeBuilder grant and ACT stamp duty concessions

If you&#x27;re on the hunt for a new home, <a href="https://zango.com.au/news/everything-you-need-know-about-homebuilder-grant-and-act-stamp-duty-concessions/" rel="nofollow" target="_blank">last week&#x27;s announcement of the Federal Government&#x27;s HomeBuilder scheme</a> may have shaken up your search a bit. The scheme means home buyers could be eligible for a $25,000 grant for either a new home purchase, or if you&#x27;re doing major renovations.Thinking of buying a fixer upper and using the grant for renovations? You&#x27;ll only be eligible if you embark on renovations that cost between $150,000 and $750,000, and you must engage a licensed builder. <a href="https://zango.com.au/news/everything-you-need-know-about-homebuilder-grant-and-act-stamp-duty-concessions/" rel="nofollow" target="_blank">You also have to pass a means test and abide by a few other conditions</a>.And there&#x27;s plenty more to keep in mind if you&#x27;re on your hunt for a home to do up. If you’ve watched any of the countless home renovation shows, it’s easy to have a rose-coloured view about the process. You find an unloved house which you can snap up way below market value, give it a bit of TLC, and a quick montage later, you’ve got a stunning, modern house. But not all fixer-uppers are created equal. While a bit of work and some updates can add thousands, some properties can turn into an absolute money pit.Here are some things to keep an eye out for when you’re looking for your own fixer upper:<h4>The location</h4>There are many, many things you can do to update a property. You can even completely knock it down and start again with the block as your blank canvas (depending on government approval). But there’s one thing you can never change about the block - its location. Think about the needs of whoever is going to live in the property, whether that&#x27;s yourself or a tenant, or even a future buyer. The perfect location is different for everybody, whether it’s close to schools, walking distance to shops, close to a university, easy access to the city, or easy access to escape the city.Also check out the surrounding area - the other thing you can’t change are your neighbours. Does it seem like a well-kept area? Is it mostly families? Young professionals? Retirees? Particularly if you want to stay and live in your renovated property, it’s good to know who you’ll be sharing a street with.<h4>The layout</h4>Unless you plan to completely gut the place, one of the other more difficult things to change is the layout. Does the space flow well and is it conducive to the sort of lifestyle you’re planning for the space? Leaving everything where it is and just doing cosmetic upgrades will save a fortune on your renovation. Also take note of where things like the sink, stove, toilet, shower and laundry are. While most can be given a modern upgrade fairly simply and cost effectively, moving them can require major plumbing or electrical work.<h4>The condition</h4>Now for the bulk of the job. Buying a fixer upper obviously means that the property is going to be far from tip top condition. But some problems are far more costly than others.Here you need to take into consideration your budget for the renovation, and your own skills. Are you an experienced renovator? Do you have a builder or tradesperson in the family who can do some of the more complicated work? Or will you have to outsource it all?Fixing some of the more cosmetic issues can be fairly cost efficient, and many can even be completed by someone with basic DIY skills. These include stripping wallpaper and repainting, installing new light fixtures or switches, painting kitchen cabinets or installing new ones, refinishing floors, retiling, landscaping or even adding a deck.Things like fixing the roof, replacing plumbing or electrical, adding or fixing air conditioning, complete kitchen or bathroom remodels, moving walls, or adding extensions to the existing property can be much more costly, and usually require getting professional help.But remember, <a href="https://zango.com.au/news/everything-you-need-know-about-homebuilder-grant-and-act-stamp-duty-concessions/" rel="nofollow" target="_blank">to be eligible for HomeBuilder grant, your renovation needs to cost between $150,000 and $750,000</a>, and you must engage a licensed builder, so you&#x27;re more flexible to find a place that requires major upgrades.And make sure you get all the pre-purchase inspections to avoid hidden, costly, surprises.<h4>The legalities</h4>You might have big ideas and dreams, and already have the plans drawn up, but the local government may have very different ideas about what should happen on your property. And unfortunately, what they say, goes. If you want to make changes to the house, there are certain approvals you will need before you start. You can also check the contract of sale for any easements, which may restrict where you can build on the property. Properties that are heritage listed may also have stricter conditions when it comes to renovations - particularly keep an eye out for this in suburbs like Barton, Griffith, Forrest, Kingston, Ainslie and Reid.And even if you’re not making changes to the physical house, you may also need to get approval if you’re building a fence, landscaping, doing work on a verge or nature strip, replacing, modifying or creating a driveway, or adding a swimming pool or spa.Check with the <a href="https://www.planning.act.gov.au/build-buy-renovate/build-buy-or-renovate/approvals" rel="nofollow" target="_blank">ACT Government</a> or <a href="https://www.fairtrading.nsw.gov.au/housing-and-property/building-and-renovating" rel="nofollow" target="_blank">NSW Government</a>, depending on where you live.

3 news articles with tag homebuilder

Canberra property prices continue to defy the trends

Everything you need to know about the HomeBuilder grant and ACT stamp duty concessions

Want to buy a fixer upper and renovate with the Homebuilder grant? Here’s what to look for