$300,000 Bonus to Downsize
The family home is certainly one of the most important and prized financial assets for many empty nesters, particularly accumulating many years of tax free capital growth. Downsizing however has often meant not only simplifying lifestyle to release equity, but more importantly for retirees, navigate the delicate balance of distributing assets to maximise the use of their tax free benefit.?
This month, a number of incentives have been released by the Federal Government, which, if legislated, may allow up to $300,000 to be placed tax free into superannuation. Our Ray White Chief Economist, Nerida Conisbee has this week looked closely at these incentives and has written an excellent article summarising the proposed legislation.?To read more, click here.
?
The Property Market Continues to Perform at a Steady Pace?
Last weekend we achieved a great result for our client, showing the continued demand from downsizers seeking quality low maintenance properties. We sold?7/7 Toorak Mews, Hamilton?under the hammer with multiple bidders, the final sale price, reflecting a 30% increase in prices in this building post pandemic.?
Another property receiving exceptional interest is "Abigail", Matt Lancashire and I will take this exceptional French Provincial style mansion built by Capital Luxury Residences to auction onsite next Wednesday evening at 6pm.?This elegant home is brand new, located at 17 Mayfield Street Ascot, one of the suburbs most sought after blue chip streets.?For more on this property click here.?
??
?This Week's Top 10 Sales
Some massive sales at the top end of this week's chart of Brisbane's highest sales of the week, with Matt Lancashire's sale of the 'Batman' house and its 50 metre long underground tunnel taking top spot with a sale price north of $12,000,000! Take a look at the full top 10 list below:
1. 35 Morgan St, Ascot $12,000,000+
2. 76 Windermere Road, Hamilton $confidential
3. 10/15 Grosvenor St Balmoral $3,850,000
4. 34 Hall Avenue, Norman Park $3,450,000
5. 39 Sefton Ave, Clayfield $3,015,000
6. 195 Kenmore Rd, Kenmore $2,800,000
7. 79 Harding St, Hendra $2,680,000
8. 76a Windermere Road, Hamilton $2,690,000
9. 30 Penrose St, Auchenflower $2,550,000
10. 38 View St, Paddington $2,510,000
?*Top?10?Results are based on publicly available data, auction results, and data provided by agents. Data is deemed reliable at the time of publication but Christine Rudolph and Ray White New Farm neither?warrants?its accuracy or accepts any liability in relation to its use.
??
National Outlook?
We are seeing a premium of 11% more being achieved on our auction properties against the highest offer presented before auction day. Our report below highlights the benefits that come with buying and selling the the current market.?Read more here
?
Property of the Week | 19 Ormadale Road, Yeronga?
Finally, our property of the week is "Rivadere". A landmark home, we have received extensive interest from interstate and overseas.?
Inspection is by appointment and it will be sold on or before auction, scheduled for?Saturday 15th October, The Calile Hotel from 9:30am, if not SOLD prior.
We hope you have had a great week and we look forward to seeing you this weekend at our open homes.?
?Warm regards,?
Christine