Rezoning Blitz in Push for Housing

According to an article in today's Sydney Morning Herald, the NSW state government is moving to bypass councils and rezone sites nominated by developers as suitable for tens of thousands of new homes.
Mr McMahon of Wollondilly Shire Council points out that "we don't want just residential". Any such new tranches of housing need to be associated with commercial development to give local job opportunities, as well as shopping, schools, etc.
One of the big complaints registered by Beecroft residents against the Uniting Church's Development Application 1305, for 51 new residential units between Hannah Street and Copeland Road, is that there is no supporting infrastructure. No places for entertainment, no room in local schools, no room on the roads. It's not good enough for state government to hand a "licence to build" to developers without also providing the infrastructure needed by the new residents.

House Prices Emerging from Doldrums

Simon Johanson of SMH Business Day gives an optimistic report "after almost two years of gloom house prices in Sydney are showing some signs of improvement, and real estate agents hope lower interest rates will accelerate the trend."
Data from Australian Property Monitors suggests median house prices were up marginally across Australia in the December quarter, the first time since a year earlier.

New Digital Display Screens

As part of our constant technological improvement, Lymlive have just upgraded our digital screen computers to provide improved clarity and reliability.

DA1305/2011 High Rise Development on Hannah Street

A number of locals have been into our Ray White Beecroft office asking for information on the Uniting Church's Development Application to build 51 residential units in two tower blocks between Hannah Street and Copeland Road. We appreciate that relevant DA information on the Council's website is not easy to find or follow, so are happy to help local residents to find the information they require. Please call in and ask for Peter Hewitt, our Business Development Manager.

Break Lease Clause

A lot of applicants don't seem to know about the optional Break Lease clause brought in last year. This allows tenants to break a long lease (less than 3 years) paying rent of only 6 weeks if been in less than 6 months, or 4 weeks rent if in the property for more than 6 months. Obviously this makes taking out a long lease much safer for the tenant.
The clause is officially optional, but because it so clearly benefits the new tenant Ray White Beecroft includes it as standard in our Lease agreements. It helps the owner too, because it gives new tenants courage to sign up for long leases even when their future is not completely clear.
Of course signing up for even a six month lease says nothing about how long the tenant will stay in residence, we have several tenants who have been in a property on a 'continuing lease' for over ten years after signing a six month rental agreement.

What a week for rentals!

Ray White Beecroft opened on 3 Jan, whereas many agencies stayed shut for that week. We were inundated with requests to see rental properties, and got lots away over the next week. Vacancy rate had shot up to 3.5% at end of the year, due to all the new vacant properties listed with us, but is already back at 1.8% with a number of applications still being processed. Our average vacancy rate last year was 1.1% and we should be back there soon.