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Are you ready for the Spring Selling Season

Are you ready for the Spring Selling Season?

Spring is known for being real estate’s busiest season. Buying and selling numbers go up by more than double compared to June and July, usually peaking in the October-December period.

If you’re thinking about putting your home on the market, now is the time to act.

The key to making the most of the spring selling season is preparation. Here are three reasons why getting in early will help you reap better rewards.

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RBA's Submission on Home Ownership in Australia - Interesting Reading.

RBA’s Submission on Home Ownership in Australia – Interesting Reading.

The  Reserve  Bank  was recently invited  to  make  a  submission  to the House  of  Representatives  Standing  Committee  on  the  Inquiry  into  Home Ownership in Australia.

The  Bank  recognised  the  importance   of   housing   to   the   people   of   Australia.   Shelter   is   a   fundamental   human   need,   and  purchasing  the  home  one  lives  in  is  usually  the  largest  financial  investment  a household  will  make.

The  affordability  of  suitable  housing  is,  appropriately,  a  central  concern  of  government  policy,  and  it  has   been   the   subject   of  several inquiries   over   the   years,   most   recently   the   Senate   Economics  References  Committee  Inquiry (The  Senate  2015).

Housing  tenure  – whether  a  household  owns or rents the  home  they  live  in  – is  an  important  aspect  of  people’s  experience  of  their  home.

The  key  messages  of  this  submission  are  as  follows.

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Is Everton Park a good suburb

Is Everton Park a good suburb?

If you own a home in the 4053 postcode or are looking to purchase one, you may be curious about whether Everton Park is a “good” suburb.

In this week’s post, we take a look at what Everton Park has going for it, and explain why we think we’re blessed to be where we are.

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Lending figures suggest heat coming out of housing market

Lending figures suggest heat coming out of housing market

The latest housing finance figures released today by the Australian Bureau of Statistics (ABS) reflect flat lending activity for housing suggesting that the heat is coming out of the housing market.

The Real Estate Institute of Australia (REIA) says the figures for May 2015 show, in trend terms, that the number of owner-occupied finance commitments fell by 0.2 per cent. This fall follows nine consecutive months of increases through to March. If refinancing is excluded, in trend terms for May, the number of owner-occupied finance commitments fell by 0.9 per cent.

REIA President, Neville Sanders says, “Decreases were recorded in all states and territories except for South Australia, the Australian Capital Territory and the Northern Territory. The Northern Territory had the largest increase of 0.9 per cent. The largest decrease was recorded in Tasmania – down 1.1 per cent.”

“In trend terms, the number of new dwellings purchase commitments increased by 1.1 per cent while new dwelling construction decreased by 0.6 per cent and the purchase of established dwellings decreased by 0.2 per cent. The value of investment housing commitments again increased -by 1.1 per cent.”

“The proportion of first home buyers, as part of the total owner-occupied housing finance commitments, increased marginally to 15.9 per cent compared to 15.8 per cent in April and follows the March figure of 15.7 per cent which was the lowest since July 2004.”

“The lending figures indicate a market that is moderating with May 2015 being the fourteenth consecutive month of modest drops in lending levels if refinancing is excluded.”

“The moderating housing lending suggest any concerns of an over heating property market should be laid to rest and also allay fears of an imminent bubble,” concluded Mr Sanders.

Story source: www.reia.asn.au

Case Study Should I renovate my 3 bedroom home into a 4 bed

Case Study: Should I renovate my 3 bedroom home into a 4 bed?

Adding an extra room to a home can be a great way of creating value and fetching a higher sale price.

There are however quite a few things to consider before splitting rooms in two or putting up new walls.

In this case study, we look at a recent example of a client who wanted to make his three spacious bedrooms into four small ones.

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The Biggest Buyer Turn-Offs! #3 May Surprise You!

The Biggest Buyer Turn-Offs! #3 May Surprise You!

A lot of what goes into selling a home is positive: we do things that we think will make our houses look better and sell for more money.

But sometimes it’s what we neglect to do that has the biggest effect. It’s easier to think of things buyers will like than to look at our own homes and critique the way we live.

So here’s a list of the six most common blind-spots that turn buyers off. How many are you guilty of?

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Australian Median House Price Exceeds $650,000

Australian Median House Price Exceeds $650,000

The Real Estate Institute of Australia (REIA) says that Australia’s housing market continued its growth in the first quarter of 2015, according to the latest Bendigo Bank/REIA Real Estate Market Facts publication.

The REIA President Neville Sanders says, “The weighted average, capital city median price increased by 2.4% for houses and 1.5% for other dwellings.”

“The weighted average,median house price for the eight capital cities is now $658,608 and with exception of Brisbane and Perth all capitals contributed to the increase.

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Removing negative gearing would increase cost of housing economists

Removing negative gearing would increase cost of housing: economists

The Australian Greens push to remove negative gearing would make housing affordability worse, economists say.

Discouraging investment in property would reduce supply of new housing and increase rents.

“There’s no doubt if an existing benefit is taken away then landlords would logically recover that by putting up rents and that would be particularly so in markets where there are tight vacancy rates,” Domain Group senior economist Andrew Wilson says.

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Australia’s most affordable suburbs within 20km of the CBD

Australia’s most affordable suburbs within 20km of the CBD

As the cost of housing within the inner-city of Australia’s capitals continues to rise, potential buyers are looking further afield to get into the property market.

Middle ring suburbs – those within 10-20km from the city centre – are proving an attractive option for many. These established suburbs often offer greater amenities than those suburbs located further out from the CBD.

Middle-ring suburbs typically offer more affordable housing than the inner-city suburbs. Buyers may also find larger lot sizes for houses and a lower density unit landscape.

While overall amenity may not be as significant as within the inner 10km ring, because they are well established suburbs and still close to the city centre they are typically well catered for with regards to amenities and infrastructure.

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Better Apartments' planning scheme reduces market choice and increases cost

Better Apartments’ planning scheme reduces market choice and increases cost

The cost of constructing a new building in Sydney, Melbourne and Brisbane is comparable, so why is there such a dramatic difference in the price of apartments?

By mandating minimum apartment sizes in Sydney after the implementation of the SEPP 65, the result was an increase in the number of bright, large, luxurious apartments, absolutely – but only for those who could afford to live in them.

Developers immediately lost out on yield in their proposed developments and delivering projects simply became too expensive. This drove down supply and as a result, drove up prices to an unsustainable level.

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