AGP Executive Report
Last update: an hour agoAustralian CGT/negative gearing shake-up: New PropTrack modelling says Sydney and Brisbane owners could face big tax bills under the federal overhaul, with Brisbane investors in prestige suburbs potentially hit up to about $1.4m on sale (vs current rules), while carve-outs may mute impact for many landlords. Renovation-cost shock in Geelong: A landmark Newtown (Geelong) French Art Deco home sold for $3.3m after sellers paid $4.75m in 2022, with agents pointing to spiralling renovation budgets turning “$1m” jobs into “$2.5m” fears. Mortgage rates bite buyers: The 30-year fixed rate in the U.S. rose to 6.53%, the highest in nine months, adding hundreds per month and keeping demand cautious. New-home sales slump: U.S. new single-family sales fell to 622,000 in April, down 11.3% year over year, as affordability and uncertainty weigh on buyers. Homebuying strategy: Coverage also highlights when renovating vs moving can make sense, plus a reminder to read the fine print on rules that can affect what you can change after purchase. Market speed snapshots (U.S.): Redfin data shows many cities still moving slowly, with single-family listings often taking weeks rather than days.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result. Feedback is welcome. Please let us know if you have any comments or suggestions about the AGP Executive Report.
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