Glossary / Abbreviations

To help you understand the some of the terminology and 'jargon' that may be used when purchasing a property, we have complied this listing.

A   B   C   D   E   F   G   H   I   J   K   L   M   N   O   P   Q   R   S   T   U   V   W   X   Y   Z  

Baby Boomers - are those born between 1946 and 1965 are today aged between 36 and 55.

balance - The principle that real property value is created and sustained when contrasting, opposing, or interacting elements are in a state of equilibrium.

Balanced Funds - tends to refer to a mix of investments, balanced between growth and income investments.

bi - built-in

bics - built-in cupboards

bics - built-in cupboards

bir - built-in robe

Body Corporate - The administrative body to manage the upkeep of the units or apartments of a strata building nominated by all the owners within the group title.

Bond - A deposit of money that is paid by a tenant and held in trust by the Rental Bond Board to ensure against defaulting of rental payments and damage to the property.

Boundary - The borders which define the perimeter of a property.

br - bedroom

Bridging Loan - A short term loan, which is usually taken out to cover a financial gap between the buying a new property and the selling an existing property.

bt - brick walls with tiled roof

Building & Pest Inspection - A thorough inspection by qualified people who evaluate the structural and mechanical condition of a property and who then provide a report for such.

Buyer's Market - Occurs When demand for property is less than the supply of property. Opposite to the Seller's Market.

bv - brick veneer