Monday, May 30, 2011
Water Efficiency in Rented Properties
Further to my earlier post on this, Ray White Beecroft's property management sent an email to all our landlords reminding them of the end of year deadline, and this time we had over 50 responses asking us to arrange action.
New Off Leash Dog Area
As a dog lover, I am pleased to advise that Hornsby Shire Council has enclosed Ron Payne Park on Woods Street North Epping, and allocated it as an off-leash dog exercise area when it isn't being used for sports. This is good, because the Epping Oval off-leash dog area is similarly constrained, and the two areas are fairly close so hopefully one or other will always be available.
Tuesday, May 24, 2011
Water Efficiency in Rented Properties
So far, despite repeated emails advising landlords of the situation, only 7% of properties managed by Ray White Beecroft are 'water efficient'. So come the end of this year all the other landlords will cease to be able to charge tenants for water use, unless they take action before then. One can anticipate a flood of demands as the end-of-year deadline approaches, with plumbers working flat out to meet that demand. So landlords are advised to get in early and have their investment properties made 'water efficient'.
Friday, May 20, 2011
Aussies contemplate property options
James Mitchell writes in Real Estate Business news:
Australians are divided over whether now is a good time to buy property.
According to the latest poll by Homeloans Ltd, 48 per cent believe the market is right for investment, 32 per cent are unable to give an opinion claiming that too much uncertainty exists and 19 per cent are adamant that now is not the right time to be buying.
The survey of 2000 first home buyers, homeowners and investors ranked the greatest barriers to home ownership as high property prices, saving for a deposit, and fear of not being able to meet repayments.
“Despite these major concerns, with nearly half of those surveyed claiming now is the time to buy, it does suggest that the market is on the way back up,” Homeloans’ national marketing manager Will Keall said.
“While many of these respondents may not necessarily believe that the market has bottomed out, they anticipate prices to increase in the medium term and are seeking to take advantage of the abnormally high quantity of properties for sale in most parts of the country.”
The report showed rising interest rates were no longer a concern.
However concerns over rising living expenses increased by 7 per cent from last year, with 37 per cent of respondents said increasing living expenses were their main concern over the next 12 months.
Australians are divided over whether now is a good time to buy property.
According to the latest poll by Homeloans Ltd, 48 per cent believe the market is right for investment, 32 per cent are unable to give an opinion claiming that too much uncertainty exists and 19 per cent are adamant that now is not the right time to be buying.
The survey of 2000 first home buyers, homeowners and investors ranked the greatest barriers to home ownership as high property prices, saving for a deposit, and fear of not being able to meet repayments.
“Despite these major concerns, with nearly half of those surveyed claiming now is the time to buy, it does suggest that the market is on the way back up,” Homeloans’ national marketing manager Will Keall said.
“While many of these respondents may not necessarily believe that the market has bottomed out, they anticipate prices to increase in the medium term and are seeking to take advantage of the abnormally high quantity of properties for sale in most parts of the country.”
The report showed rising interest rates were no longer a concern.
However concerns over rising living expenses increased by 7 per cent from last year, with 37 per cent of respondents said increasing living expenses were their main concern over the next 12 months.
Monday, May 9, 2011
Listings on the rise again, sales down
In the Beecroft and Cheltenham areas, the "patch" for Ray White Beecroft, and probably throughout Sydney, the number of properties listed for sale fell dramatically last November, after the Reserve Bank's rate rise and the accompanying media storm.
Listings are now recovering, with nearly as many properties listed for sale as at the last peak. However buyer interest is depressed and clearance rates at auction are low.
If, as seems likely, interest rates go up next month, a fall in house prices seems certain.
Listings are now recovering, with nearly as many properties listed for sale as at the last peak. However buyer interest is depressed and clearance rates at auction are low.
If, as seems likely, interest rates go up next month, a fall in house prices seems certain.
Monday, May 2, 2011
Buyer's Market
In April there were 2060 auctions in Australia, with a 53% clearance rate. The previous busiest April was in 2000, with 1700 auctions. Last year there were 1550 auctions with a 69% clearance rate.
Year-to-date clearance rate stands at 55%, marginally better than in December last year. The RP Data-Rismark index shows capital city values fell by 2.1% in the first quarter of 2011, seasonally adjusted, pulled down especially by Brisbane, down 4.6%.
Year-to-date clearance rate stands at 55%, marginally better than in December last year. The RP Data-Rismark index shows capital city values fell by 2.1% in the first quarter of 2011, seasonally adjusted, pulled down especially by Brisbane, down 4.6%.
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