Residential Assets

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<div>EXPERT OBSERVER</div>
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<div>The national residential vacancy rate was stable at 2 per cent in March.</div>
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<div>This represents a slight decline from a year earlier, when the vacancy rate was 2.1 per cent.</div>
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<div>Only Melbourne and Hobart had higher vacancy rates than a year earlier. </div>
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<div>Given that properties need to be advertised for 3 weeks before being classified as vacant, there's more likely to be a jump in April as Airbnb operators and other short-term accommodation providers are forced to try more conventional routes for leasing their properties.</div>
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<div>The 6-month moving average by capital city is plotted below, not seasonally adjusted:</div>
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<div class="separator"><img src="https://1.bp.blogspot.com/-zJdu7a0K0QU/XpT_eswSm-I/AAAAAAAA1Og/-dMPxJ-RFect1lCV6nMdBke9TtLGEwfkwCNcBGAsYHQ/s640/SQM1.jpg" width="640" height="364" data-original-height="806" data-original-width="1414"></div>
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<div>With more short-term units hitting the market the median asking rental price was down in March.</div>
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<br><strong>PETE WARGENT</strong><em> is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.</em>
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j.ballantyne1990-6AQqhLzZaK

Residential vacancy rates down to 2 percent: Pete Wargent

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<p>From 1 January 2017 the assets test free area and the assets taper rate will increase.</p>
<div class="alert icon-left-warning">This measure will start on 1 January 2017.</div>
<h2>Description of the measure</h2>
<p>The assets test free area is the amount of assets above which allowances are not paid and pensions are reduced.</p>
<p>The assets test free areas will increase to:</p>
<ul>
<li>$250,000 for a single homeowner</li>
<li>$375,000 for a homeowner couple</li>
<li>$450,000 for a single non-homeowner</li>
<li>$575,000 for a non-homeowner couple</li>
</ul>
<p>Pensioners will be subject to a new taper rate of $3 for every $1,000 above the new assets test free areas.</p>
<p>Income support recipients who lose their payment entitlement on 1 January 2017 as a result of the changes will be automatically issued with a Commonwealth Seniors Health Card, or a Health Care Card for those under age pension age. They will be exempt from the usual income test requirements for these cards indefinitely.</p>
<h2>Questions and answers</h2>
<h3>Who is affected by this measure</h3>
<p>All pensioners who are assets tested will be affected by the changes from 1 January 2017.</p>
<p>From 1 January 2017, customers receiving or applying for an allowance will have a higher assets threshold.</p>
<p>This measure will also affect the means test assessment for aged care fee purposes.</p>
<h3>Who is eligible for this measure</h3>
<p>All pensioners who are assets tested will be affected by the changes.</p>
<p>From 1 January 2017, customers receiving or applying for an allowance will have a higher assets threshold, meaning more people will qualify for an allowance.</p>
<h3>The date this measure will start and finish</h3>
<p>This measure will start on 1 January 2017 and is ongoing.</p>
<p>For more information <a href="https://www.humanservices.gov.au" target="_blank">click here</a>.</p>
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