Property Matters with George Hadgelias
The Perfect Time to Inspect!
With 2 weeks until our next Auction event at Iceworks, make sure you do not miss out on the opportunity to inspect and fall in love with the stellar range of properties we have on offer this weekend.
For the full list of properties going to Auction, please visit: www.raywhitepaddington.com.au/auctions
- Bathroom designed by George Daniel Wittman, photo by Will Austin
Don’t Just Take Our Word For It….
This week, Property Matters with George Hadgelias looks at the market and the month that was through the eyes of our Chairman, Brian White, who gives us an intelligent insight into the general market factors in play across the nation.
What Happened to the markets in April?
Easter is one of the key events in our community’s calendar. Full of symbolism and tradition! Hopefully it doesn’t sound disrespectful but, traditionally, it also seems to have a powerful influence on real estate activity! Easter marks the end of summer. We’re used to seeing activity levels ease until the next spring.
So what happened this year? Well, New Zealand didn’t pause for an instant with three of our top five businesses internationally located in central Auckland! It’s the most powerful story in recent times. But Australia, even now in full election mode, was far from tawdry coming in at 18 per cent over last year. So our total figure of $2.44billion was pleasing.
What was pleasing was the resilience of New South Wales. Of course, when two massive sales are announced (two homes in Point Piper selling at prices which project them into the top three sales of all time in Australia) it has to be a tonic for the market. Both sales were made to Chinese purchasers. Powerful results continued in Perth. Interest rates in Australia are again under debate. Amazingly, talk about softening the Australian economy is back in vogue.
Yet there’s plenty to be confident about at the present time. Crisscrossing news of world trends and events is not creating any hesitancy in open for inspection numbers. The reduction in the overall housing stock on the market is, to us, a sign of confidence by sellers that prices are likely to improve. Might this prove to be a resilient winter market?
Ray White Group
Written in the Stats…
Statistics give us some of the best information when it comes to property data and projections for the coming year, this week Property Matters looks into how the stats align in Paddington.
The December 2012 to February 2013 quarter saw interesting developments for property prices in Paddington, with the Australian Bureau of Statistics commenting that the median sale price was up an astonishing 11.5% on the previous quarter. Statistically speaking, this is extremely positive, but we should not expect this sort of growth every quarter and the likelihood is that there will be a small correction in this figure when we see the release of March statistics next week.
What it is important to remember is that with this slight correction comes an increase in numbers of sales, as buyers and sellers agree when it comes to price, promoting area growth and more transactions = a healthier marketplace.
When those figures do come out, remember that they are not at all indicative of the state of the market from which they came, but merely a guideline as to where property prices, as an overall generalisation, are sitting. More sales are equal to more growth – and Paddington is certainly growing!
We here at Ray White Paddington have devised 5 easy ways you can update your home for sale without breaking the bank, the only problem is you may fall in love with your home all over again and never want to leave!
- Get Soft!
Soft furnishings make all of the difference when it comes to making a home feel welcoming and inviting and most importantly, comfortable – get soft and update your cushions and throw rugs to modern, neutral colours, they will lift the tone your living and playing spaces considerably without breaking the bank.
2. Go Green…
Get out into the garden for a simple solution to a dreary outdoor area – whether you’re enamoured with pot plants or garden beds, both can be highly effective ways to enhance the look of the exterior of your home and therefore increasing your final sale price.
3. Get Clean!
A blast from a high pressure hose to the outside of a house can turn drab into fab! With only a minimal amount of expense to hire a machine if you plan on doing it yourself, you can save yourself the bucks without losing the returns.
4. Fix it Up…
Fittings and fixtures looking a little tired? New doorknobs and cupboard handles have the ability to modernise a room, making it look contemporary and fresh without paying thousands of dollars for the pleasure.
5. Slip, Slop, Slap!
On a fresh coat of paint. Yourself. In a weekend. Ok, that may be a little ambitious, but the benefits of fresh paint are numerous. Not only do you get to tailor your interior and exterior colour schemes to the prevailing trends of the time (although we here at Ray White Paddington would suggest that the more clean and neutral the better – buyers respond better to properties they can imagine themselves in) but you also slop away any residue or odours that may be hanging around from years of enjoying a property.
New Initiative to Slash Red Tape for Developers
Three local Queensland councils are trialling what may be a state wide change in the planning and development policy structure, which may in fact become good news for developers and those looking for council approvals in the near future. The initiative intends to amalgamate the twelve policies governing planning and development currently and bring all councils in line with two State launched initiatives - the State Planning Policy and the State Assessment and Referral Agency.
The introduction of a more uniform approach will not only allow all persons looking to make applications for the planning and development of land a more accessible process, but will hold one State body accountable for all approvals… A very interesting and somewhat comforting concept.
Steady As She Goes…
Homeowners breathed a sigh of relief this week when the much anticipated April ruling on interest rates was passed down by the Reserve Bank confirming that interest rates would remain steady at 3%. Many economic forecasters tipped another drop of ¼ basis point this month, but the Reserve bank held fast to its decision to keep the rate stable and steady. The major banks have released information that there has been a rush of customers acquiring fixed rate home loans whilst they can – and this is having a knock-on effect in our little area, ensuring that sale prices continue to remain steady and days on market are reduced significantly. Stock is flying off the proverbial shelves, so you have to be quick to secure your dream home.
Property Matters Gets Out & About!
The Time Has Arrived.
The Emporium Hotel will host the first Urban Living Auction Event of 2013 this Sunday from 10:30am. We here at Ray White Paddington are excited to be representing a multitude of exceptional properties for your consideration and highly recommend your attendance if you have an interest in the local market. With an aromatic array of cafes and restaurants within the
Emporium complex, you have the perfect excuse to wander in, have breaky and get yourself ready for a day of auctioneering theatrics and sales success stories.
Urban Living Auction Event:
Sunday 24th March 2013
Registration from 10:00am
Auctions Begin @ 10:30
1000 Ann Street,
See you there!
Thinking of Renting Your Property?
It’s time you spoke to our Business Development Officer, Brooke Rowley.
Positive, energetic and committed to providing her own brand of friendly, reliable and professional
service, Brooke Rowley has built up an impressive client base over her nine years as a Business Development Officer with Ray White Paddington.
Living and working in the Western suburbs, she has gained exceptional knowledge of the local marketplace and as far reaching as 10kms from our inner city office. Having seen the faces of change that Real Estate has experienced over the years gives Brooke the skills to provide solid marketing ideas, current legislation requirements and an awareness of each individuals needs toward their
Her wealth of knowledge and well-earned respect, has enabled Brooke to continue her solid track record of business growth, which has gained her and the office many awards within the Ray White Group.
Brooke’s dedication to exceeding expectations is immediately apparent in her communication with customers. Brooke’s number one priority is to build relationships based on trust and respect. Always keeping her landlords’ best interests at heart, she strives to ensure every property is well looked after. This is achieved by working closely with a team of dedicated professionals that lease and manage our extensive property portfolio for our valued clients.
Call Brooke now for a complimentary rental appraisal of your property on 0408 985 243 or email her at firstname.lastname@example.org
The Figures Are In….
And it’s official, February saw sales soar! With interest rates remaining steady, confidence has returned to the South East Queensland property market and this is finally being reflected in sales figures and the number of potential purchasers through our Open for Inspections.
And how is March shaping up?
Last Saturday’s inclement weather should have been somewhat of a deterrent to buyers, but the first weekend of March saw double the number of properties go under contract than they did only the month before… and the month before was record breaking… we can only imagine what’s in store for the rest of March…
Our advice? Get out and about in your local marketplace this weekend to see the positivity for yourselves.
Last night saw our first auction event of 2013 exceed expectations in relation to clearance rates, with five sold under the hammer and more currently in negotiations, we’re thrilled with the outcome. In addition to this, the room was packed, the buyers were willing and able and the market was most assuredly making itself heard – it’s official, property is in high demand!
Congratulations must go to the entire Ray White Paddington team for ensuring our first event of 2013 was a success and special mention goes to the hard working agents whose tireless efforts paid off for their clients.
For a list of the properties that sold, please visit our Recent Sales Page.
Looking forward to seeing you all at our next in room event, the Urban Living Group Auctions at the Emporium Hotel on Sunday 24th of March 2013 @ 10:30am!
It’s Time To Get Amongst It.
Less than a week remains before our first Iceworks auction event of 2013… This weekend may very well be your last opportunity to inspect some amazing properties! We strongly suggest you visit our Upcoming Auctions page to find out more!
Steady Does It…
We’d never want to say “I told you so,” but it looks like the national media is finally reflecting what Property Matters has been telling our dear readers for a few months now, things are looking up! According to an article released just this morning, Brisbane median prices have risen by 2% – the second highest rise in median prices in the country. This, coupled with the Reserve Bank’s decision to keep interest rates steady at 3%, has increased confidence for buyers and sellers alike, with investors and first home buyers leading the way back into the market and sellers eager to take advantage of a decidedly healthier selling environment.
By no means is this an indication of a property boom, but a steady increase in activity and productivity, resulting in a healthy resurgence of interest in property, a sense of positivity, a move towards conservative growth and a quietly confident marketplace. Go on – get out there!
Are You Auction Ready?
Our first Iceworks Auction Event of 2013 is less than a month away and it promises to be bigger and better than ever before, with a multitude of exceptional properties available for your consideration and a large number of A+ buyers actively looking for their future home or investment.
There is no better time to join the ranks of our happy clients than in 2013.
For further information please visit : http://raywhitepaddington.com.au/news/upcoming-auctions-who-what-when-where/
Growth & Development at Ray White Paddington
We here at Ray White Paddington are always striving to go above and beyond in levels of service for our clients, whether they be landlords, tenants, buyers or sellers and we find the most effective way to stay ahead of our competitors is to
continue to be dynamic marketers, stay committed to training, development and the changing needs of our clientele.
Your feedback is important and offers us a way in which to improve our services to you, therefore improving our business and levels of customer satisfaction.
Our office is growing and evolving to provide you with superior levels of service, from our large property management division, whose combined experience and expertise is second to none in the Inner West, to our dynamic and driven sales team, who continue to be the local market leaders.
We invite your feedback and welcome your comments.
Top Tips for Buyers.
If you have made property a priority for 2013, here are some easy ways to help narrow your search and make sure you don’t miss an opportunity to see a property that will be snapped up quickly!
#1. Keep Up!
Purchasing property can be a fast paced, exciting process – but make sure you are armed with the information you need to make an informed decision. I would suggest you start casually going to Open Homes at least six to twelve months before you plan on purchasing. You will get a feel for the area, narrow down the type of property you are looking for and most importantly, what represents value for money in the area.
#2. Read Up!
When purchasing in South East Queensland, reading Saturday’s Courier Mail Real Estate lift-out will become an addictive habit, and so it should! For the latest articles on our local market, a selection of recent sales, the all important Open for Inspection guide, property editorials, pictorials and classifieds, it’s a foregone conclusion that you will be planning your Saturday, coffee in one hand and the real estate guide in the other.
#3. Get Set Up!
Print media cannot be your only source of property information and with the abundance of reputable websites advertising properties online, it’s best to set up a number of alerts that cater to your needs. You can set price parameters, property type, number of bedrooms, bathrooms, area of interest… the choices are yours – and when a property that meets your criteria is first
advertised online, you will receive an email alerting you.
#4. Meet Up!
As I say time and time again, there can be no substitute to having a reputable agent with their ear to the ground on your behalf. This enables you to be aware of properties coming onto the market before they are officially advertised, giving you the advantage over the other purchasers in the area. My suggestion is to come in to our Paddington office and ask to speak to a sales
agent. The relationships you create with agents will serve you well when it finally comes time for you to purchase.
#5. Lighten Up!
And finally, remember – although a stressful time, the purchasing process is meant to be fun and exciting, so don’t be afraid to have a laugh and ask the questions (no matter how silly you think they sound), buying is what you make it, so make it fun.
Your 2013 Property Resolutions
When it comes to the new year, we all like to turn the page and begin a new chapter. When it comes to property, there is no better time to throw yourself headfirst into the marketplace, do those renovations or take the proverbial plunge into investment. Get 2013 going in the manner you wish it to continue and put your property first:
Property Resolution #1: Know your financial position. Make an appointment with your bank or financial advisor to explore your property options. Want to upgrade? Want to downsize? The first step is having the financial tools at your disposal to meet your property goals.
Property Resolution #2: If you’re renovating, value add! If expanding your current abode is a daunting prospect, put some consideration into which changes you can make that are cost effective, but add value to the dwelling. Ask your local agent for information about what features and additions in a home create interest in the marketplace and how to most effectively spend your renovating dollar.
Property Resolution #3: Whether you’re investing for the first time, or are looking to expand a property empire, investment properties are always about location, location, location. Think about which aspects of an investment property are important to you; is it close to public transport? Is it within a 10 kilometre radius of the CBD? Is it close to a university? What sort of tenants do you wish to attract? Write yourself a list, prioritise and share this information with the agent that is assisting you in your search.
Young Gun Shines in Auction Competition.
A big Christmas congratulations goes out to our very own Luke Dawson who beat out considerable opposition to become the REIQ 2013 Awards for Excellence Novice Auctioneer of the Year. In a tightly contested battle, Luke overcame all with his larrikin charm… and his superior auctioneering skills, of course!
Making Christmas Shopping a Breeze…
With extended trading hours in all major shopping centres and the anxiety levels for all Christmas shoppers reaching fever pitch, as an early Christmas gift to you, we here at Ray White Paddington decided to share our best ways to get your shopping done and avoid the crowds over the next week.
1. Get Online and Get Moving!
This is by far and away the quickest, easiest and least stressful way to make your Christmas purchases… but time is running out to ensure their delivery before the jolly man in the red suit visits us all! Our advice, get things ordered, moving and in the post prior to Sunday 16th of December.
2. Try the Markets.
There are a plethora of local markets in our city which offer quirky, personalised alternatives to the store-bought gift. Another added bonus? You won’t be contending with shopping centre sized crowds or searching for a car park. Below is a selection of some of our favourites:
- Not only are the Fortitude Valley Markets operating on both Saturdays and Sundays in the Brunswick Street Mall, there is also a special Christmas Twilight Market on Friday the 21st of December from 5pm to 9pm for those looking for evening ambience and a leisurely shop.
- Jan Power’s Christmas Farmer’s Markets, every Wednesday in December from 10am to 6pm at the top of the Queen Street Mall will provide you not only with great gift ideas for the foodies out there, but will give you the opportunity to stock the larder in anticipation of the biggest foodie day of them all, Christmas!
- Looking for something distinctly unique and handmade? Make tracks and head to the Brisstyle Indie Twilight Markets this Friday the 14th of December from 5pm to 9pm in King George Square for an assortment of quirky and individual gifts for those wishing to support local artists and designers.
3. Be Task Focused.
Sounds simple, doesn’t it? But the majority of us do tend to get sidetracked by a plethora of things while shopping – this is why it is imperative to keep a list, tick it off as you achieve your goals and remember, the sooner you get it all done, the sooner you can go home and put your feet up!
Trainee Auctioneers: Front & Centre
After the overwhelmingly positive outcome of our final Iceworks auction event of 2012 last week, it’s time to shift our focus to the continued training and development of our young auctioneers and auction agents who keep impressing us with theircommitment and enthusiasm to mastering the art of the auction process.
Last week, we were fortunate enough to witness one of our rising stars, Business Development Associate Luke Dawson, deep in preparation for the upcoming REIQ Novice Auctioneer of the Year Award. Luke called a preparatory auction in front of supportive colleagues from both our property management and sales divisions and a judging panel consisting of our very own Mark Te Whare, Colin Walsh & Michael Donoghue. Incorporating his auction showmanship with his wonderful sense of humour, Luke kept the audience of somewhat jaded real estate professionals entertained and enthralled with his banter, quips and strangely enough, poetry.
Under the tutelage of David Treloar, Business Development Executive for Ray White Corporate Queensland, as well as the best Ray White Paddington has to offer, Luke maintained a composure and a level of maturity in his delivery usually reserved for auctioneers with years of experience.
We wish Luke the absolute best of luck in the competition and are positive that this will be the first in a long line of successes for this very enthusiastic and talented real estate professional.
Investor Bounce Back – Hints, Tips & Ways to Get Ahead.
As property investors slowly but surely make their way back into our local market, we thought it was high time to share our knowledge as to what makes for a good investment, how to keep a return in tough times and why now is a great time to start your investment portfolio.
1. You’ve heard it before, but it’s all about Location, Location, Location.
If you’re in the market to buy your first investment property, it’s always important to keep the location of the property in the forefront of your mind.
- Ensure it is close it one form of public transportation
- It should be close to schools, universities and a business district
- Is there a shopping complex close by?
2. What will your expenses be?
Make sure that you know the expenses you will have to outlay on a quarterly basis, and always have a little more in reserve for emergency purposes. Ask the agent about:
- Rates per quarter
- Administration & sinking fund fees if the property is a unit or townhouse
- The property’s current rental return per week, as well as its net and gross return per year
- Which real estate agency currently manages the property and what their fees are
3. The more questions you ask, the more informed you will be and in a better position to make the right decision!
4. Ray White Paddington has some stellar investment opportunities available for your inspection this weekend:
Compelling Evidence for Clever Homeowners.
Here at Ray White Paddington, we have been advocates of a multifaceted approach to marketing and advertising for our clients and new research has proven that we’re more than 20% more likely to succeed than if we were to stick to just one advertising medium. According to RP Data & the Courier Mail, out of 8,500 property owners who took part in the survey, those who chose to sell their homes with a combination of print and electronic marketing and advertising were 23% more likely to sell their property than those that chose only to market their homes only by one singular medium. Finally, another piece of evidence to suggest an inclusive approach to marketing gets results.
For further information, please visit: http://www.couriermail.com.au/realestate/buying/savvy-marketing-drives-sales/story-fndboawi-1226509630178
Prestige Property Auction Exceeds Expectations.
Last Thursday night saw the Urban Living Group host it’s first Prestige Property Showcase at the Emporium Hotel. It was a stellar evening, and the results bucked the pervading opinion regarding prestige property prices in Brisbane. 33 registered bidders and a large crowd ensured a lively evening for purchasers, vendors and market enthusiasts alike. Ray White Paddington was in the enviable position of selling both properties on offer, like this remarkable Braeside Terrace home. Congratulations to the entire Urban Living Group for hosting the event – looking forward to another one next year!
Ray White Paddington Set to Excel at Sunday’s Urban Living Property Auctions.
With 38 properties to be presented for sale (12 of which are offered by the team at Ray White Paddington) by public auction this Sunday, if you’re interested in the local property market, get down to the Emporium Hotel at 1000 Ann Street, Fortitude Valley, with registration from 10:00am to see the team from the Urban Living Group and Ray White Paddington in action. With properties from Newmarket, to Indooroopilly, Red Hill, Paddington and the CBD there’s sure to be something to fit every budget and lifestyle.
Please peruse the properties on offer to you by Ray White Paddington this Sunday at the Urban Living Property Auctions:
Storm Proofing Your Property
Living in South-East Queensland, we know the very real and present danger of the summer storm season. This edition of Property Matters looks at the simple precautions you can take to keep your home and your family safe over the coming months.
1. Take a Walk.
Take some time to survey your perimeter, walk along your fence line, looking for the following:
- Loose palings or wire
- Dead branches on trees or fallen palm fronds
- Unsecured garden tools and or pool equipment
- Garden furniture that may not be heavy enough to withstand damaging winds
2. Look Up.
Have your gutters been cleaned recently? Are they in good, working order?
Do all of your windows close properly? (This can sometimes be an issue in older Queenslanders)
Are there any niggling, little leaks in your roof that need to be taken care of before a sub-tropical deluge?
3. Raise the Roof.
It’s time to get out that ladder, acquire a trusty assistant and have a look on your roof. Check for wobbly tiles, any signs of rusting, holes or unsecured guttering. It’s also a great place to get a new and interesting perspective of your backyard and see if you missed anything on the ground level.
4. Do your Research.
We’re so very lucky that there is an abundance of information available to us about storm season. Check out the following websites to keep yourself fully informed (some are also quite entertaining!):
First Home Owners Construction Grant Makes A Significant Impact.
You would be forgiven for thinking the recent long weekend would have a negative impact on our local market, with the majority of us choosing to get out of town to make the most of the perfect weather currently on offer. According to some reputable sources, this definitely was not the case, with first home buyers jumping out of the proverbial gates to secure an off the plan purchase in the wake of the new First Home Owners Construction Grant of $15,000, designed to stimulate the Queensland construction industry and tempt first home buyers back into the marketplace.
One such off the plan development which has proved very popular with first home buyers are The Green Apartments, part of Showground Hill, the much anticipated redevelopment of the RNA Showgrounds site. Which goes to show that location is imperative, no matter which end of the market you’re looking to purchase in.
Reduced Rates = Property Price Positivity?
With the Reserve Bank dropping interest rates by 0.25% on Tuesday, and the current positive vibe permeating our local property market, one could be forgiven for thinking the market’s booming, right? There is a great deal more to the local market than interest rate cuts and an increased number of residential sales for September that contribute to an overall sense of positivity and productivity.
It is the increased levels of buyer activity that are in direct correlation with the positivity and sales success of spring so far. There can be no denying that the more prospective purchasers we get through our open homes on any given Saturday, the more likely we are to effect a successful sale and illicit a higher sale price. Following on from this, there can be no doubt that another drop in interest rates can only contribute to the positive atmosphere, not only in the real estate market, but also in the stock market, which saw an acceleration of activity immediately after the Reserve Banks decision, which saw interest rates hit their lowest mark since 2009.
This rate cut was apparently aimed at current mortgage holders in an attempt to bolster the flagging retail market in the lead up to Christmas, but according to some sources, it is unlikely that it will have the desired effect and households will hang on to their money and spend less over the holiday season on smaller items.
Luckily for us real estate types, the outlook is increasingly positive as the decrease in interest rates continues to translate into successful sales.
A Ray White Paddington Agent Comes Out On Top Internationally
George Hadgelias & Ray White Paddington would like to congratulate Glynis Austin and her team who have had an outstanding year to date. Not only did they achieve a personal best in August for sales, but Glynis is also currently rated the Number 1 Agent within the Ray White Group internationally for residential sales and Number 2 overall.
This outstanding result goes to show that no matter what outsiders may say regarding the Brisbane real estate market, we here at Ray White Paddington are forging ahead to create the best outcomes for our clients and that there is no substitute for professional service, dedication and hard work.
For those of you that have driven past 181 Given Terrace recently, you would be well aware that we have been operating under a considerable amount of construction and we are almost ready to reveal the new and improved Ray White Paddington to you all.
With this Spring makeover, we have the added pleasure of introducing to you a group of established real estate professionals with a proven track record of success to the Ray White Paddington team.
Colin Walsh is a market leader and trusted professional who prides himself on being one of Brisbane CBD’s most experienced and knowledgeable agents. The accolades he has received from the Ray White Group over the past few years have cemented his place, not only as a prominent agent with an unrivaled sales record, but also as a no-nonsense operator who achieves the best results for his clients.
Colin attributes his success to the dynamic team of sales and marketing professionals who work closely with him to ensure each client receives an exceptional level of service.
With extensive sales experience within the Brisbane CBD property market, Jeffrey Uebergang has developed his considerable skills over the last 5 years, allowing him to become one of the dominant selling agents working in the CBD. Also working alongside Colin is Rajiv Rajah, a results-driven and detail oriented professional, who takes the time required to build and sustain longstanding relationships with all of his clients. Rounding out the team is Tegan Miller, an experienced customer service manager and marketer, a consummate expert in inner city real estate sales.
George Hadgelias & Ray White Paddington Welcome You.
Unpacking the Implications of the State Budget
Changes to the current First Home Owner Grant are set to have real ramifications on first home buyers and the market on the whole. What does this mean for you? Chris Dobbie, our financial specialist, spoke to us about the changes and the growth which is sure to follow.
The current First Home Owners Grant of $7,000 (FHOG) is set to be replaced by the First Home Owner Construction Grant (FHOCG) of $15,000 which will be offered to first home buyers purchasing a property off-the-plan, or a newly constructed home. This means if you are a first home buyer looking to purchase an existing dwelling, you have until the 11th of October 2012 to sign a contract to ensure you are still eligible for the grant.
For those first home buyers looking to purchase off the plan or a newly constructed dwelling, you can apply for the FHOCG as of 12th of September 2012.
According to the Loan Market’s Chris Dobbie, the following criteria still apply:
- It must become your principal place of residence within one year of taking ownership
- It must be your principal place of residence for at least six months
- You must not dispose of all or part of the property within one year after your start to occupy the residence as your home.
- The property must be bought or built at a value under $750,000.
For any further information about the changes, please feel free to contact us here at Ray White Paddington on (07) 3369 6488, or speak with our Loan Market expert, Chris Dobbie, on (07) 3015 7314 .
Steady Does It…
With the Reserve Bank of Australia once again holding interest rates steady at 3.5%, you could be forgiven for assuming this would have a negative impact on the South East Queensland property market, but after the weekend we just had, you’d think interest rates had been slashed! According to news.com.au,the first weekend of spring has seen a significant increase in sales across the board, from cheap and cheerful units to luxurious estates, there has been a definitive shift in the level of activity in our marketplace. Buyers are coming out in force on these sunny, clear days and making decisions about property. The outlook is distinctly optimistic, and with some experts tipping an interest rate cut on Melbourne Cup Day, my advice is to get out there now, start doing your research and make the most of the September selling season before demand outweighs supply.
Rent or Buy? “Buy!” Says Leading Property Experts.
According to the most recent figures released in RP Data’s yearly Buy versus Rent Report – lucky us – Queensland has the most suburbs and regional centres where it’s more affordable to purchase your own property than it is to rent one, based on median sales prices and current variable mortgage rates.
As you are aware, spring is peak real estate season, and more likely than not, we will see even more first homebuyers trickling back into the marketplace, preferring to buy rather than rent.
Looking to rent or buy? Do your sums and see how your options really add up!
An Exclusive Invitation from Ray White Paddington and the Urban Living Group
As we approach what is historically the most active time of the year for real estate transactions, Ray White Paddington and the Urban Living Group have the distinct pleasure of presenting an exceptional opportunity to prestige property sellers: the chance to be a part of Brisbane’s most dynamic auction event of 2012, the Ray White Urban Living Prestige Showcase.
It will be an evening to remember, at no other time will prestige property owners have an opportunity to present their homes to an elite group of high end buyers offered by Queensland’s most experienced auctioneers and agents. This, coupled with exclusive deals on marketing only available to the group, will ensure your special property will receive 5 star treatment in the lead up to auction day.
Please contact Ray White Paddington for further information about:
The Ray White Urban Living Prestige Showcase
Thursday 25th October 2012 @ 6:00pm
The Emporium Hotel
1000 Ann Street, Fortitude Valley
Long Term Gains Trump Short Term Booms.
When buying a home for you and your family, the likelihood is that an element of emotion will come into play, rather than making the decision based entirely on economic sense; whereas investors will base their decisions entirely on the bottom line. But what happens when that bottom line has the potential of moving out from under you? What happens when a boom location goes bust? As we all know, property is a long term investment, with most of us reaping rewards after five or even ten years of ownership, but what happens when our expected gains don’t come to fruition?
According to a recent article on www.couriermail.com.au, if everything goes according to plan, the majority of investors can expect to make a profit after 5 years, but external factors can have a startling impact on property values. Residents of suburbs like Chelmer and Yeronga have faced this first-hand after the devastating physical, emotional and economic effects of the January 2011 Brisbane floods.Even our very closest neighbour, Rosalie, was battered by the natural disaster, causing some investors to pause before purchasing after that time. Luckily for those involved, Brisbane property prices bounce back quickly, and each of the aforementioned areas have made significant advances over the past 18 months.
What if you’re not as lucky? What if all indications are that the property that you currently wish to sell is not worth how much you paid for it? There are a few simple steps you can follow to try to maximise your profits.
1. Choose an agent who has market knowledge and optimism.
An agent with market knowledge is very important when selling, but an agent with an optimistic approach who engenders excitement from purchasers is essential – getting buyers excited = the possibility of a higher purchase price.
2.Make cosmetic adjustments.
Don’t spend hundreds of thousands of dollars on renovations that may only garner you a 10% increase in price. Nine times out of ten a coat of paint and a garden tidy up will give you the same results.
3.Cast a wide net for buyers.
Choose your marketing wisely. Understand that some buyers actively look on the internet, some buyers read the paper on a Saturday morning, some buyers browse through their local weekly papers and others buy within the same suburb. The trick is to mix it up targeting local, interstate and international buyers.
4.Take price out of the equation.
Want a surefire way to increase interest? Set a date for sale and remove the price. That’s right. Auctions ensure you’re getting a response from the market on price, keep your agent accountable and give you the opportunity to sell for more than what you initially wished to achieve.
The Market Has Spoken…High Rise Prices Rise Higher…
With the latest round of Real Estate Institute of Queensland figures, comes the surprising revelation that there is currently a sector of the Brisbane marketplace booming, and it’s not what or where you may imagine.
According to Anton Kardash, the CEO of the REIQ, unit and townhouse sales have increased drastically in some areas, specifically in the lower end of the market, the most startling statistic being that sales between $250,000 and $350,000 increased by 22% on the previous quarter.Kardash goes on to state that “This increase in more affordable unit and townhouse sales is being driven by demand from first home buyers and investors”, both of which are making a welcome return to the marketplace.
Are you looking in that category? Then look no further than this selection from Ray White Paddington:
The Urban Living Group Excels Yet Again
Last Sunday saw 52 properties presented for sale as a part of the second Urban Living Group Auction Event of 2012. The result was brilliant. With a 400 plus strong crowd, and over 140 registered bidders, 24 properties were snapped up either prior to auction or on the day. This week should see even more of these properties going under contract, ensuring the Urban Living Group’s auction results remain where they always have been – well ahead of the competition. This is not only good news for the Urban Living Group, but it is an excellent indication of the current trajectory of the Brisbane property market.
Ray White Paddington Representing the Area at the Urban Living Group Auctions
The weekend is finally upon us, where Brisbane’s finest real estate opportunities go under the hammer in a property spectacular that could only be brought to you by the Urban Living Group. With over 50 properties presented to you for sale, this event is our Olympics, where our best and brightest do their best to achieve outstanding results for our clients. What’s available to you, you ask?
1. Looking to Invest?
“Flooded, Renovated, Rented & Selling!” 3/59A Ormadale Road, Yeronga provides the astute investor with an excellent long term prospect close to transport and all amenties.
2. Looking for an Historic Opportunity?
“Unique Heritage Listed Terrace” 25 Wellington Street, Petrie Terrace will appeal to the romantic in each of us…
3. Looking for an Inner City Pad?
“Affordable Two Bedroom Apartment Must Be Sold!” 20/53 Commercial Road, Newstead is amongst the hustle and bustle of Teneriffe and Newstead, just ripe for young professionals looking for that Inner City Pad.
4. Looking for Location, Location Location?
“A Fashionable Home in a Desirable Location” 176 Merthyr Road, New Farm will excite those of you looking for a renovated Queenslander in the heart of a buzzing location – don’t miss out!
Being Frugal in the New Financial Year
Each new financial year, many of us make the decision to look into our household budgets to see what easy, simple steps we can take to build up the holiday fund and stop the household money hemorrhage. We have compiled our top five money saving household tips for the new financial year:
1. Become Climate Smart:
This wonderful initiative from the Queensland State Government gives the average homeowner insight into how those power bills get so high and for just $50.00, it gives you the opportunity to have your energy usage assessed by a licensed electrician as well as a pack containing up to 5 energy efficient globes, a water and power saving showerhead, an installed wireless power monitor and four stand-by eliminators just to name a few.
For further information please go to: http://www.climatesmarthome.com/what_you_get.html
2. Eliminate the Dreaded Dryer:
Love the smell of clean sheets fresh off the clothesline? Ever wondered why they smell so appealing? It’s the sun, and as Queenslanders, we all like things a little sun-kissed. The added bonus is the money you will save by swapping your dryer for the good old Hills Hoist.
3. Shop Around:
Fresh produce is essential to healthy living, and we all fall into the trap of buying our fruit and veggies at the supermarket because it’s convenient and accessible. We are so lucky to live in an area that embraces local produce so readily and there is no better place to pick up fresh and relatively inexpensive fruit and vegetables than the Bardon Markets, taking place each Saturday morning at Norm Buchan Park, just adjacent to the Governor’s residence. Grab a coffee and grab a bargain – what a great way to start your weekend.
4. Re-plan Your Plan:
Does it feel like you’re always paying more for your internet and phone plans than what you budgeted for? Are you on a capped plan that keeps going over its limit? Call your internet and phone provider – in the current competitive environment, they need your business. Usually it doesn’t take any longer to re-negotiate and save yourself some money.
5. Keep Your Temperature In Check:
Heating your home? Cooling your home? Always ensure all windows and doors are closed so you don’t lose your air! Close any curtains and blinds for insulation and to prevent cool air escaping on hot days. The best temperature for your bank account? A steady 24 degrees.
The State of the Market… A Case Study
Saturating our local marketplace with tales of doom and gloom, the media has a great impact on our way of thinking when it comes to property, whether we are willing to admit it or not.
Today I would like to take the opportunity to give you the facts – how is our local market actually performing? Let’s take a look at one of our recent sales successes, 42 Monro Street, Kelvin Grove, marketed by Ray White Paddington’s Adam Downes.
With 43 groups inspecting the property over the 4 week auction campaign, a huge turn out for the on-site auction, including 9 registered bidders, ranging from investors to first home buyers, and an eventual sales price under the hammer $68,000.00 above the reserve, this is a stellar result any way you look at it.
But the case of 42 Monro Street is not an isolated event. At present, numerous properties marketed by Ray White Paddington are under contract after receiving multiple offers from buyers keen to purchase in our very desirable area.
The buyers are out there and willing, the sellers are happy and moving forward, let’s hope the media starts to reflect the current state of the market.
It’s July, and that means we’re currently experiencing an increase in the amount of rental activity as tenants try to get themselves ready and settled for the second half of 2012.
Here are a few helpful hints to make sure you give yourself the best opportunity to be a landlords’ ideal tenant.
1. Get Informed.
Keep up to date with the agencies that are updating their rental lists daily and check agency websites as well as realestate.com to ensure you are seeing everything that’s available as soon as it’s available.
2. Know What You Need.
Get together a specific checklist of attributes a property must possess for you to live there. What’s your maximum weekly rental spend? How many bedrooms do you require? Do you need covered car accommodation? Do you require a lot of storage options? Make sure you discern between your wants and needs, a spa bath is a great added bonus, but not as important as a functional kitchen.
3. Be Prepared.
Have all of your documentation photocopied and ready to go (keep the originals), including proof of address, previous rental history, current wage advice, and as soon as you’ve inspected the property be ready to submit. Property managers and landlords are appreciative of keen, well prepared tenants and this will put you head and shoulders above the competition.
4. Chat & Smile.
Make conversation with the rental staff, that way, you get to know more about the process, get some insider knowledge on various properties, and who knows? You may make some new friends.
With the next Urban Living Group Auction Event around a month away, I thought I would take this opportunity to address what you can do, as a buyer, to ensure you are informed and confident come auction day.
1. Money Matters…
Talk to your mortgage broker, bank or financial institution on more than one occasion and know how much you can spend and what sort of deposit you have available if you are the successful bidder. Remember, these people want your business and are willing to help you achieve your monetary goals.
2. Certifications & Inspections…
Hire a certified building and pest inspector to ensure you know if there are any defects in the home, or any unseen infestations you should know about – this can have an impact on how much you’re willing to pay for the property. This is a minor investment that will arm you with essential information.
Remember, knowledge is power!
3. Consult A Conveyancer…
Funnily enough, this solicitor may actually become your best friend during this time. They will be able to perform all of the relevant searches on your behalf, making sure there are no encumbrances or legal issues impinging your purchase, and, once the contract is signed, they will ensure a swift, smooth ride all of the way to settlement.
4. And Finally…
The Terms & Conditions for auction in Queensland do place the onus on the buyer to have all of their information compiled and due diligence completed prior to auction day. The beauty of this is you will have done more research over a few weeks before auction day than many buyers do prior to entering into a contract via private treaty.
You know the property is structurally sound, you know if there are any drainage issues, you have your deposit firmly in hand and you have spoken to your financial advisor and know how much you can spend. Now you have consulted a solicitor regarding conveyancing, had a building and pest inspection done (if needed) by a certified inspector of your choice – now you’re in the driver’s seat!
Ready, Set, Go To Auction!
The Knock-On Effect
First home buyers are once again making their presence felt in the Brisbane property market, with an increase in over 35% of first home buyers taking the plunge compared to this time last year. What does this mean for the rest of the property market? There is an undeniable knock-on effect when first home buyer activity increases, second home buyers buy their third home, empty-nesters downsize and families upgrade for more space, and increased activity is excellent news for local property owners. Supply and demand shifts, and properties in the area become even more desirable. It’s a perfect time to capitalize on this positive change.
Paddington Leads The Way!
According to the Real Estate Institute of Queensland, we locals and lovers of Paddington, are amongst the trailblazers in the recent upswing in the South East Queensland property market. Their figures indicate that Paddington median prices over the past quarter have risen a substantial 8.1%, a sign of great returns to come for those of you out there looking to invest or relocate into the near future. The REIQ figures also show an increase of 6% in sales in the greater Brisbane area compared to this time in 2011, which can only mean good news for those of you looking to sell your property. I encourage you to get out there this weekend and see for yourself the reinvigoration of your local property market.
Easy Ways To Maximize Your Profits.
According to the experts, property prices are at their most affordable since December 2009, but for those sellers out there looking to achieve outstanding results, I have compiled a list of simple things that you can do to get the best return on your investment that won’t break the bank.
1.Freshen Up – A coat of paint always brightens a tired room, make sure you apply neutral tones, as these appeal the most to prospective purchasers.
2.Clean Up – Outside. Consider hiring a house washer to make the exterior sparkle, make sure your garden looks its best and sweep up those leaves!
3.Clean Up – Inside. De-cluttering is one of the most important things you can do prior to putting your house on the market, the more excess “stuff” you can remove, the more spacious your home will appear. If you don’t have the time or the patience for redecoration, there are many companies that will come to you and do it for you.
4.Set The Mood – Fresh flowers and fruit make a house look like a home, and inviting aromas stay with us much longer than you might think…
These simple steps will ensure you’re ahead of your competition, and in a position to attain the best possible price.
When Only The Best Will Do.
For those of you with investment properties, finding a reliable property manager can be an overwhelming prospect, especially if you’re a first time landlord. Take the hassle out of the equation by appointing a property manager who has your best interests at heart. Most agencies offer competitive rates, but only some will ensure you are informed every step of the way. My advice to you is to interview at least three agencies, meet with the property managers or business development officers personally and to find a fit that’s right for you. And remember, just because an agency offers inexpensive rates, it does not mean they provide the most comprehensive level of service, which will undoubtedly save you a lot of hassle and money in the long run.
Supply & Demand – The Final Frontier.
In real estate, it is important to remember one very simple rule: selling anything is only a matter of supply and demand, and as the weather turns colder, there are statistically less properties available for sale.
We at Ray White Paddington see this as a very positive thing for our clients – less property on the market and the same number of people looking to buy = less supply, more demand, which invariably has the added bonus of helping us achieve record prices in the cooler months.
So if you’re wondering whether you should hold out until Spring to sell, my advice would be to consider the above information prior to making any decisions about your largest asset.
What The Budget Means For Property.
The delivery of the 2012/2013 Budget in Canberra recently left most of us “real estate types” feeling slightly disappointed that no direct stimulus was to be injected into the housing industry. Property owners can all breathe a little easier though, with the promise of further rate cuts through out the year.
Luckily, properties in our local area continue to be in high demand and, in some cases, competitive buyers have snapped up properties prior to their first Open Home. My advice to those who’ve just started looking in the area is to get to know an agent and ask them to advise you of a suitable property the moment it comes on the market – that way, you won’t miss out!