Skip to main content

Dashboard

Courses

All Courses

Lessons

All Lessons

Tools & Calculators

Purchase Costs
Stamp Duty
Borrowing Power
All Tools & Calculators

Community

Forum

Sign in for personalised lessons

How to Property is in Early Release. Full release 14 May 2026. Provide feedback and contact for partnerships.Contact Us

A

21

Accountability partnerA person with no emotional stake in the auction outcome who attends with you to enforce your price ceiling and bidding rules. They serve as an external check because research shows bidders cannot reliably detect when arousal is affecting their own decisions.
Active Termite EvidenceA pest inspection finding indicating that live termites were observed during the inspection. Active evidence requires immediate specialist treatment and a structural assessment of affected timbers.
Administrative fundThe fund within a strata scheme that covers day-to-day running costs such as cleaning, gardening, minor repairs, insurance premiums, and strata management fees.
Affordability-expectation gapThe tension between declining housing affordability and widespread expectation of further price rises. This gap creates urgency that can drive fear-based purchasing decisions.
AggregatorA company that provides mortgage brokers with access to a panel of lenders, technology platforms, compliance support, and training. Most brokers operate under an aggregator rather than holding individual accreditations with each lender. The aggregator holds or supports the Australian Credit Licence.
AnchoringA mental shortcut where the first number you see becomes your reference point for all later decisions. In property, the listed price becomes the anchor, and you unconsciously judge every other cost relative to it.
Anchoring and adjustmentA two-stage mental process where you start from an initial value (the anchor) and adjust up or down to reach your estimate. The adjustment is almost always insufficient, leaving the final estimate biased toward the anchor.
Anchoring BiasA cognitive bias where the first piece of numerical information you receive (the 'anchor') disproportionately influences your subsequent judgements and decisions, even when the anchor is irrelevant to the decision at hand.
Approved AgentA financial institution (bank, credit union, or mortgage broker) authorised by the state revenue office to process FHOG applications on behalf of applicants. Applying through an approved agent is faster because the lender already holds most of the required documentation.
AS 3660.2The Australian Standard for termite management in and around existing buildings and structures. Since 2017 it has recommended the use of thermal imaging and other specialist detection tools during termite inspections where further investigation is warranted.
AS 4349.1The Australian Standard for pre-purchase building inspections of residential buildings, published by Standards Australia. It sets out the methodology, scope, and reporting requirements for building inspections, including defect classification and limitations.
AS 4349.1-2007The Australian Standard that sets out the minimum requirements for pre-purchase building inspections of residential properties. It defines the scope of inspection, inspector qualifications, reporting format, and the limitations of a visual, non-invasive assessment.
AS 4349.3The Australian Standard for timber pest inspections of buildings, covering subterranean termites, borers of seasoned timber, and wood decay fungi. It defines inspection methodology, evidence classification (active or inactive), and damage severity ratings.
AS 4349.3-2010The Australian Standard that sets out the requirements for timber pest inspections of buildings. It defines which pests are covered (subterranean termites, dampwood termites, borers, wood decay fungi), the inspection methodology, and what constitutes reasonable access.
Assessment RateThe interest rate a lender uses to calculate whether a borrower can afford loan repayments. It is higher than the actual loan rate because it includes the serviceability buffer. For example, if the loan rate is 6.50% and the buffer is 3%, the assessment rate is 9.50%.
AuctionA public sale where bidders compete openly for a property. The contract is unconditional from the moment the hammer falls — there are no cooling-off rights at auction in any Australian state.
Auction FeverThe emotional state during competitive bidding where arousal and excitement cause bidders to pay more than they planned or more than an item is worth.
Auction PremiumThe difference in sale price between comparable properties sold by auction versus private treaty, attributed to the competitive, time-pressured nature of the auction mechanism. Whether a genuine premium exists after controlling for selection effects is contested in the academic literature.
Australian Credit Licence (ACL)A licence issued by ASIC that authorises a person or company to engage in credit activities, including providing credit assistance as a mortgage broker. The 6-digit licence number must be displayed on the broker's website and documents.
Australian Financial Services Licence (AFSL)A licence issued by ASIC under the Corporations Act 2001 that authorises a person or company to provide financial services, including giving financial product advice. Property investment advice does not require an AFSL because real property is not classified as a financial product under the Act.
Automatic Mutual Recognition (AMR)A national scheme that allows a person licensed to perform an occupation in one Australian state or territory to perform the same occupation in another participating state without obtaining a separate licence. Queensland does not participate in AMR for real estate agents.

Free property education for Australians.
From first steps to settlement.

© 2026 How to Property.
All rights reserved.

Browse

Courses
Tools & Calculators
Definitions
Resources

Company

About
Contributors
Terms of Use

Media

Blog
Updates

Stay in the loop

New courses and guides — no spam, unsubscribe any time.