RWB Dynamic Duo Sells Swiftly

Ray White Beecroft has just sold a Beecroft house within three weeks of listing it, due to the combined efforts of Peter Raco and our new salesman Luke Frendo.  Peter took the initial vendor phone enquiry, appraised the property, and listed it.  On the first open, Peter and Luke combined to welcome prospective buyers.  Luke met the interested buyer, showed him the house, and quickly negotiated the sale despite the building inspection finding a crack in the basement, for which they had to negotiate a mutually acceptable price reduction.  In the end both Vendor and Buyer seem to have been very happy with the speedy result.

Beecroft Houses in the Best Price Bracket

Many houses in and around Beecroft are in the $700,000 to $1,000,000 bracket, which data from Australian Property Monitors reports shows has grown 4.5% for the first half of this year, rising 1.2% over the June quarter alone.  Given an anticipated rate but by the RBA in August, this bodes really well for house sales in the second half of the year.
APM's data shows that prestige prices are down 1.4% over the last six months, and 8% down on a year ago!

Marlow Property in line for UDIA Award

Marlow Treetops project has been selected as a finalist in Categories 9, Seniors Living, and 10, Medium Density Development!

Denistone Seniors Units Nearing Completion

Ray White Beecroft is managing the sale of 11 beautiful Seniors Living apartments being built in Marlow Avenue Denistone, and interest for the properties has been very high. Five units are already sold. A full occupation certificate is expected next week.

Ray White Biggest Ever Sale

The commercial department of Ray White recently announced that the ACCC has approved the sale of 30 public houses to a Woolworth's joint venture, for a price in excess of $400M.  This is the biggest sale in the history of Ray White.

Rental Price Gap Closing

According to Australian Property Monitors, the difference between the rent of an apartment and an equivalent house is now only $30.  Over the June quarter median weekly rents for Sydney apartments rose by 4.4%, to $470, while house rents were stagnant at $500.
People like the security of an apartment, they are usually on one level with a lift for the higher level units, whereas most houses have stairs between various living areas.  Many apartments have great views, whereas few houses are high enough to see over neighbouring properties.  And apartments are low maintenance.  Most owners like to have their own garden, but for most house-renting tenants the garden can be more of a burden than a recreation space.
However in and around Beecroft, tenants enjoy the privacy of living in their own (rented) property, and families enjoy the garden and if available the swimming pool.  But also in our area there has been a shortage of new property coming onto the market, and rents have been firm.
Ray White Beecroft manages rental apartments over a wide area, from Kellyville to Ultimo and Artarmon, so is well placed to monitor rental changes throughout the northern suburbs of Sydney.

House Prices Down but Steady

According to the REI, Sydney's house prices, which slumped in the 12 months to March this year, have stabilised and are expected to start rising again soon.
A report in the SMH today says that, due to the Euro crisis, European banks have cut their lending to Australian businesses by $20B, down from $60B since 2009, compared to growth of 20% pa before then. However it seems that Asian banks are taking up much of the slack from this drop.