Changes at First State Conveyancing

We would like to advise that our Licensed Conveyancer Sam Clarke has decided to leave First State Conveyancing after a very long and happy association.

Sam started with East Coast Conveyancing many, many moons ago as a receptionist and leaves First State Conveyancing as a highly skilled licensed Conveyancer.

Sam’s plan is to pursue other avenues of employment related to her interests in creative arts and will be finishing up on Friday 29th June 2012.

Sam's files will be jointly managed by our Licensed Conveyancers Kirsty Travis and Rebecca McDonald in a job share position. Kirsty will be available on Mondays and Tuesdays and Rebecca will be available for the remainder of the working week.

Kirsty previously worked in our office five years ago (as Kirsty Tulloch) and left to pursue marriage and motherhood. Rebecca has worked in our Taree office for a number of years and now returns as Licensed Conveyancer after her recent maternity leave.

We would expect that the transition will be seamless for both Sam's clients and colleagues.

To all who have had the pleasure of working with Sam over the years, I am sure you will agree with me that Sam will be sorely missed. As Sam's employer, I would like to thank her for her unwavering dedication to do the best job possible and her immeasurable loyalty, not to mention her friendship. Most of all, I admire Sam for her determination to pursue her dream and wish her every success in her new career. 

YAY FOR STAMP DUTY CUTS

The NSW Treasurer, the Hon. Mike Baird, has today announced a raft of changes to NSW taxes and grants as part of the 2012 State Budget.

Some of the changes which will have a direct impact on those buying real estate are as follows;

New Home Grant Scheme
From 1 July 2012, a new $5 000 grant will be provided to buyers of new homes, whether off the plan or newly built, with a value up to $650,000 and to buyers of vacant land that is intended to be the site of a new home valued up to $450,000.

First Home Owner Grant (New Home) Scheme
From 1 October 2012, the First Home Owner Grant Scheme will be replaced by the First Home Owner Grant (New Home) Scheme. The new scheme will only apply to first homebuyers who purchase or build a new home valued at up to $650,000.

The grant will increase from $7 000 to $15,000 from 1 October 2012 to 31 December 2013 and to $10 000 from 1 January 2014.

First Home – New Home
From 1 July 2012:

• The transfer duty exemption cap on new homes increases to $550,000 with duty concessions for new homes valued between $550,000 and $650,000
• The transfer duty exemption cap on vacant land increases to $350,000 with duty concessions for vacant land valued between $350,000 and $450,000.

First State Conveyancing will have more information in the coming weeks regarding these very positive steps that will surely invigorate the new home housing market and sales of vacant land.

RESERVE BANK DROPS INTEREST RATES

The Reserve Bank of Australia (RBA) has cut official interest rates for the second month in a row at today's board meeting.

The cut of 0.25 per cent sees rates fall to 3.50 per cent.

RBA Governor Glenn Stevens released a statement today saying that the outlook for inflation allowed for a more accommodative stance on monetary policy. This combined with modest domestic growth and a weaker and more uncertain international environment directly contributed to the decision.

He went on to say that both households and businesses continue to exhibit a degree of precautionary behaviour, which will more than likely continue for the foreseeable future.

The RBA also observed that housing prices had shown some signs of stabilising around the turn of the year, but have recently declined again.

The decision follows a cut of 50 basis points at the RBA's May meeting. Most pundits are predicting that there are more cuts to come.