Housing In Australia

Are you moving to Australia? Have you thought about or made arrangements for accommodation there? Here are a few tips for you to finalize that.

When you land in Australia you will be astonished to see the wide range of housing there. The designs are based on American or European style. You will find terrace houses and “Queenslanders” which are based on the weather and lifestyle of the regions. Most of the houses will have large backyards, swimming pools, parks and shopping centers which provide a comfortable living for the people.

You will find on analysis that houses in country towns and regional cities are cheaper and more easily available than those in popular capital cities. Mostly people live in the suburbs of the state capital which are closer to the place of their work, and schools.

Renting a House

Usually when you want to rent a house, you will enter into lease or ‘residential tenancy agreement’. This is usually for a period of 6-12 months. It is always advised that you first understand the terms and conditions of this agreement since you will be bound by the terms once signed. You will be paying a rental advance of 4-6 weeks. You are expected to keep the accommodation clean and without any damage to the structure. Sometimes the Government also helps by offering Rent Assistance which helps you to rent a house in the private rental market.

Buying a House

If you are interested in buying a house, realtors will come to your help and if you are buying a home for the first time, you may get Commonwealth First Home Buyers grant. You may also borrow money from a bank or other financial institution. You will require a solicitor for checking the legal documents and other paperwork. It is a dream for Australians to buy a house for their own. Buying a house costs a lot and so they obtain a loan for the purpose. You can even buy land and get a house built according to your plans.

If you are not a permanent resident of Australia then you should get permission from the Foreign Investment Review Board.

Public Housing

If you are a recipient of Centrelink payment, you will be eligible to apply for public housing. Various factors will be taken into consideration on allocating a house depending on where you are looking. These may include things like the size of your household as well as any other necessary requirements.

Government owned housing units are made available to low-income individuals at a nominal rent or no cost. You will find single houses, or flats in a high-rise block. A group of friends can make an application for public housing.

If you require a house urgently then you can apply with proof of the urgency and you will be allotted a house before others in the line. Recurring homelessness is given top priority here. You could be allotted a house anywhere within your chosen areas. If any medical problem is to be treated only at a specific hospital or doctor, you can apply for a house nearby. Waiting times depend on areas. The rent is decided by the authorities. You may have to get permission from the authorities to keep pets.

Australians usually want to own their own land or house. You will find advertisements in local dailies about availability of property for sale and rent. Because of the huge migration, there is a housing shortage in Australia and this makes rents high and availability difficult. Housing is usually more available for people who choose to work and live in towns than cities.

According to a state press release, a “Labor government would spend an extra $400 million to build 11,350 new homes over four years to ease Australia’s public housing shortage, Federal Opposition leader Mark Latham said today“. The Government is making every effort to meet the three main areas of housing in Australia, i.e., land supply and demand, infrastructure, and land taxes. Once these are met, then the demand for houses in Australia should come down. At the moment, if you are flexible about where you live, you should have no problem about getting a good house.

Brought to you by the Australian Immigration Experts at Synch1

Rules and Regulations - Foreign Investment in Australia

I have made quite a lot of foreign investments in Australia. The thought of making foreign investment in Australia came to my mind last year when I saw news, blogs all talking about Australia playing a leading role in international property investment. One of the reasons for this being, Australia is taking second lead role of being populated with migrants from other countries. When I was about to start my foreign investments in Australia, I had no knowledge in that. But the process I went through got me highly interested in this subject.

First of all, for making foreign investments in Australia, a foreign investment approval is vital. But foreign investment approval depends on what a person wishes to invest in. I went for residential real estate investments and some investments in commercial real estate also. For making these investments, I went through the process of foreign investment approval. In certain cases, even acquisitions of shares or other assets of businesses would require foreign investment approval.

All these depend on the size and type of investment a foreign person is willing to make in Australia. The approval for getting a brand new residential property is much simpler provided all rules and regulations are followed. Thus, the primary rule a foreign national must clearly have in mind while making foreign investments in Australia is that unless they have permanent resident status or meet another exemption, it is vital to get prior FIRB approval before making any investments in Australia.

While undergoing this process, I had a doubt whether it is essential to get FIRB approval for transfer of property even if a property is being left by a citizen in Australia to his close relative who is a foreigner to Australia. When I had this query I immediately mailed officers at FIRB about this and the reply I got was that the property in this case would get transferred easily without even notifying the board. This rule holds even if a foreign national is married to a citizen of Australia and makes a joint investment in Australia. After submitting the papers for approval to the board, I got the approval within 20 days as the board is required to make a decision within 30 days of receiving an application though in certain situation it might take another ten days more. Thus it is sure that one would get the reply from FIRB within forty days of submitting their application to FIRB.

The commercial property foreign investment I made in Australia was less than AUD50 million and so I didn’t need to go through the process of FIRB approval. The FIRB approval for foreign investors on commercial properties is essential only if the amount exceeds the above value or if the amount exceeds the approved amount by FIRB. Once I decided to make foreign investments in Australia, I gathered sound knowledge on rules and regulations related to this from various sources. Then I selected the property for foreign investment in Australia. After this step, I sought legal advice before entering a contract to buy Australian property. This step is important to avoid hurdles and to get us clear about the laws and about the property.

Brought to you by the Australian Immigration Experts at Synch1