Jan 072023
Real Estate and Financial Terms Under Letter ‘A’ – Australian Real Estate

We provide you with the latest real estate and financial terms used in Australian Real Estate field.

Buying, selling or renting property in Australia and having trouble understanding what they’re saying? To help you figure it out, we’ve created brief explanations of the words used. For more complete information, see your local real estate agent, financial advisor or solicitor.

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– A –
ABAAustralian Bankers’ Association
acceptanceAgreeing to be bound by the terms and conditions of an offer or contract.
accessoryOne or more buildings on a lot that is not considered the primary building. An example would be a storage shed. It is usually listed as ‘Accessory Building’.
amenityA non-essential feature that enhances a property’s attractiveness and occupant’s satisfaction. Examples are: scenic views or closeness to public transport.
amortiseRepaying a mortgage with regular payments that cover both the principal and interest.
amortisation periodThe period of time a loan has to be repaid at the arranged terms.
appreciationAn increase in the value of a property as a result of changes in market conditions.
adjustmentsThe process of allocating expenses on settlement day that the seller has paid for but not used and those that the buyer will be billed for but has not used. Examples are: phone, electricity, council and water rates.
agentPerson or company authorised to act on behalf of a client in the purchase, sale, or management of a property.
appraised valueThe estimate of the value of a property being used as security for a loan.
application feesThe fees charged to cover or partially cover the lender’s costs to set up a loan for approval. 
asking priceThe listed price of a property. It may not always be the selling price when an owner is willing to negotiate.
assetAnything of monetary value owned by a person. Examples are: money, real property or personal property, and bank accounts.
APRThe annual percentage rate (APR) is the rate of interest per annum. 
auctionThe public sale of a property with ownership going to the highest bidder subject to a reserve price being equalled or exceeded.
assessed valueThe valuation placed on a property for the purposes of taxation by an authority.
assignmentThe transfer of a mortgage from one person to another.

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