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

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  • Off-the-Plan ConcessionA stamp duty reduction available when buying a property before it is built or completed. Duty is typically calculated on the land value at the contract date rather than the finished value of the property.
  • Offer and Acceptance (WA)The standard contract form used in Western Australia for residential property sales. Unlike contracts in other states, it uses a tick-box format where conditions like finance clauses must be specifically activated, and building inspection conditions must be added as special conditions.
  • On the MarketA declaration by the auctioneer during an auction that bidding has passed the reserve price. Once a property is on the market, it will sell unconditionally to the highest bidder when the hammer falls.
  • Opponent effectThe finding that competing against identifiable real people produces measurably higher arousal and higher bids than competing against anonymous or automated opponents, even when the financial stakes are identical.
  • Opportunity CostWhat you give up by choosing one option over another. In deposit planning, the opportunity cost of waiting is the property price growth and equity you miss during the saving period. The opportunity cost of buying sooner is the LMI and higher repayments on a larger loan.
  • Owners corporationThe legal entity made up of all lot owners in a strata scheme, responsible for managing and maintaining common property. Called a body corporate in Queensland and a strata company in Western Australia.
  • Ownership cost ratioYour total monthly ownership costs (mortgage plus all other recurring costs) divided by your monthly after-tax household income. A ratio above 0.30 is widely considered the threshold for housing affordability stress.
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