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How to Property
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  • Taxable IncomeThe income figure on your ATO Notice of Assessment after deductions have been applied. Used by Help to Buy and the ACT Home Buyer Concession Scheme to determine eligibility.
  • The 1% ruleA maintenance budgeting guideline where you save 1% of your property’s value each year for repairs and upkeep. On a $800,000 home, that means $8,000 per year. Some years you spend less, some more — the figure is an average over time.
  • Title RegistrationThe government fee charged by your state or territory land titles office to formally record the change of property ownership. A separate mortgage registration fee applies if you have a home loan. Until registration occurs, the legal transfer is not complete.
  • Title SearchA check of the official land title records to confirm who owns the property, whether any debts or encumbrances are registered against it, and whether there are any restrictions on its use.
  • Trail CommissionAn ongoing annual payment from the lender to the mortgage broker, calculated as a percentage of the remaining loan balance (typically 0.15% to 0.275% per year). It is paid for as long as the borrower stays with that lender, giving brokers an incentive to keep borrowers on existing loans.
  • Transaction CostsOne-off costs paid at or around settlement to complete a property purchase, including stamp duty, conveyancing fees, inspections, loan application fees, and registration charges.
  • Two-Stage Hedonic RegressionA statistical technique that corrects for selection bias in property price comparisons. In the first stage, the probability of a property going to auction is estimated from its characteristics. In the second stage, this correction is applied to the price comparison, to isolate the effect of sale method from the effect of property quality.
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