Auction Cancelled - Property Sold Prior

Ray White Beecroft advise that the auction due Saturday 17th July at 34 Austral Avenue is cancelled, the property sold Friday afternoon.

Landlord Expo 19 July

Ray White Beecroft, as part of the Ray White Northern Suburbs group, is pleased to offer landlords the chance to attend a Landlord Expo, in Stamford Macquarie Park, on 19 July at 6:45 pm. Several guest speakers will provide talks on issues of vital importance to landlords, such as your rights and obligations, improving your asset value, and optimising finance.

If you want to attend, contact us at 9479 8444.

House Auction Clearance Rates Latest

According to a report in the Sydney Morning Herald, auction clearance rates this weekend were 49%, the poorest result for 18 months. Another statistic of note was the increase in "sales prior", indicating that vendors recognise the market stalling and are keen to sign up to a sale. So this must be a good time for canny buyers to get in with offers!
But Australian Property Monitors gives more detail than did the SMH summary, showing that while the auction clearance rates over the weekend were down considerably in Melbourne and Brisbane, those in Sydney and Adelaide showed modest gains.
That fits in with viewing statistics on the Ray White Beecroft web site raywhitebeecroft.com.au which registered more hits last week than for a long time, so there is still lots of interest out there in the upper and middle markets of Sydney property.

Gutter problems

High-fronted gutters look nice but damage your house! Housing NSW admits it no longer uses these gutters on new projects because overflowing water runs back into the house causing all sorts of damage.

Penthouse bargain

A luxury penthouse just sold for $7.5m, had sold in 2008 for $10m. Agents blame the slowdown in high end sales on the economy and a glut of luxury penthouses.

Should Fences Be Dog Proof?

How about this for a newly fitted fence, with a gap so large the owner has had to fit chickenwire to stop her dog (or small children!) from escaping.

The question is, are there standards for how a fence should be fitted? The quotation from the supplier gives details of length, height, materials, even penalties the company will impose if the owner "impedes start of work". It even includes 7 year warranty on workmanship. But nothing about whether it would, or should, be dog-proof.
Ray White Beecroft manages one of the properties involved, whose owner consented to have the fence installed. We tried to discuss this with the fence company involved, but they refused to discuss it. Their contract was with the owner of the house on the other side.

Power and Emails Out

Due to a fire in a local power substation, Beecroft had a widespread power loss overnight, restored mid morning.
As a result Ray White Beecroft lost emails for a while. Bear with us while we restore everything.

Chilwell Reserve Access for M2 Widening

The M2 Widening Project intends to build a construction site underneath the flyovers in Chilwell Recreation Reserve. They are proposing to get access to it by building an access path down from the end of Allerton Road, with a forecast of something over ten trucks a day through the two year construction period!
I often use Chilwell Reserve to walk my dog, and I hate the thought of this. I also hate the idea of all those heavy trucks lumbering down Murray Farm Road and into Allerton.
I was therefore pleased to see the Beecroft Cheltenham Civic Trust submission on the proposed M2 widening, in which they advocate that the project should use the existing access way on the north side of the carriageway, built for the original M2 build, instead of Allerton Road. This photo shows the end of this access path, between the M2 and the golf course, which would allow trucks to access the construction site direct from Pennant Hills Road.


I would love to know the Project's intentions for permitting continued use of Chilwell Reserve through the construction period. I presume a protected passageway will be maintained to permit public passage under the viaducts. But so far I haven't found any specifics on this. If any of my readers can clarify this, please email me or call in at Ray White Beecroft.

House Price Forecast

The General Manager of APM, Anthony Ishac, reported a fall in auction value last weekend to $120M from $213M the previous weekend - although this is still well up on last year when auctions raised just $98M. Mr Ishac expects prices to continue to rise, but in single digits, "not as manic as we have seen in the last 12 months".

Renovation Fast-track

NSW State Government is proposing to introduce fast-track approval for people wanting to convert attics and basements into extra rooms. Instead of going through the normal council DA process, a 10-day approval process will be put in place.