I have had many of my subscribers contact me and ask why I have been so quiet on my Blog and Social Media sites recently so I thought it was time to clear up any rumours.
The truth is that over the past 10 or so months I have been undergoing treatment for Cancer and as a result I had to scale back my work activities. But a few weeks ago I received the best news I could have possibly hoped for.... I got the all clear !!!
I know many of you were unaware so my apologies for keeping you in the dark. I also wanted to use this opportunity to thank those who did know for their support over what was a difficult period. Family and close friends aside I would like to thank Ivan and my work colleagues for going well above and beyond what I expected in assisting me whenever I needed it.
There are also a few other people (you know who you are) who also helped a great deal throughout the period... whether it was simply a phone call to see how I was doing, having a coffee and chatting or offering words of inspiration, it was greatly appreciated and will never ever be forgotten.
Anyway, back to business...
Now that I am back in the game (so to speak), I have listed a number of exciting properties and have a quite a few more in the pipeline, so watch this space.
As for my Blog and Social Media activity, stay tuned as I will be a whole lot more active in this area as well and will try to pick up where I left off 10 months ago. There will be weekly market updates, monthly newsletters, interesting and helpful hints and tips and I will also get back to making and posting YouTube videos.
If anyone has any ideas on what they would like to see please drop me a line.
Tuesday, September 3, 2013
Monday, June 17, 2013
RATE HOLD MAY BOOST PROPERTY MARKET
I agree with Charles Tarbey and believe that the decision by the Reserve Bank of Australia (RBA) to hold interest rates at 2.75 per cent will encourage many people to purchase or refinance property as rates remain at historic lows.
“CENTURY 21 believes that the RBA’s decision to keep interest rates on hold is prudent in light of current domestic economic conditions,” said Chairman and Owner of CENTURY 21 Australasia, Charles Tarbey.
“With interest rates set to remain at historic lows for the time being, Australia’s lending environment should encourage many people to buy or refinance property over the coming months.
“However, whether there will be further rate cuts in 2013 is difficult to predict due to the recent momentum in U.S equities markets and a period of relative stability in Europe.”
As part of its decision, the Reserve Bank reasoned that it was appropriate to leave the cash rate unchanged as current financial conditions would contribute to a strengthening of growth over time, consistent with achieving the inflation target.
The Reserve Bank’s decision follows the recent release of RP Data-Rismark’s Hedonic Home Value Index results, which showed that median home values In Australia’s capital cities fell 1.2 per cent in May.
“Despite declines in house prices in May, Australia’s residential property market has undergone some relatively positive developments in 2013, with capital city dwelling values rising 1.1 per cent over the first five months of the year and auction clearance rates moving above 70 per cent in many areas across the nation,” concluded Charles Tarbey.
NEW HOME SALES UP OVER APRIL
Recently released figures from the Housing Industry Association (HIA)
suggest that the trend of recovery in new home sales seen since late
2012 has continued into 2013.
The latest HIA New Home Sales report shows that seasonally adjusted sales for new homes increased by 3.9 per cent in April 2013. This took monthly sales back to a level not seen in over a year.
The headline result was driven by a 6.7 per cent increase in detached house sales, which was experienced across all states surveyed except for Queensland. In contrast, multi-unit sales fell by 9.4 per cent.
HIA senior economist, Shane Garrett, said that recent developments in new home sales are an encouraging sign for the market. “In particular, the important detached house segment of the market continues to climb out of recent record lows, and this improvement has largely been broad-based across the states,” explained Mr Garrett.
“While multi-unit sales have softened over recent months, the gains made over the course of 2012 have not been eroded. A broader look at the situation shows that the volume of sales in the three months to April this year [was] still 51.7 [per cent] higher than the trough experienced a year earlier.
“We do, however, need to be considering the longer term prospects of a recovery in residential construction beyond 2013,” concluded Mr Garrett.
In the month of April 2013 detached house sales increased by 9.1 per cent in Victoria, 9.0 per cent in Western Australia, 8.1 per cent in New South Wales, and 2.7 per cent in South Australia. Detached house sales fell by 1.8 per cent in Queensland.
The latest HIA New Home Sales report shows that seasonally adjusted sales for new homes increased by 3.9 per cent in April 2013. This took monthly sales back to a level not seen in over a year.
The headline result was driven by a 6.7 per cent increase in detached house sales, which was experienced across all states surveyed except for Queensland. In contrast, multi-unit sales fell by 9.4 per cent.
HIA senior economist, Shane Garrett, said that recent developments in new home sales are an encouraging sign for the market. “In particular, the important detached house segment of the market continues to climb out of recent record lows, and this improvement has largely been broad-based across the states,” explained Mr Garrett.
“While multi-unit sales have softened over recent months, the gains made over the course of 2012 have not been eroded. A broader look at the situation shows that the volume of sales in the three months to April this year [was] still 51.7 [per cent] higher than the trough experienced a year earlier.
“We do, however, need to be considering the longer term prospects of a recovery in residential construction beyond 2013,” concluded Mr Garrett.
In the month of April 2013 detached house sales increased by 9.1 per cent in Victoria, 9.0 per cent in Western Australia, 8.1 per cent in New South Wales, and 2.7 per cent in South Australia. Detached house sales fell by 1.8 per cent in Queensland.
Wednesday, February 27, 2013
Monday, February 25, 2013
SYDNEY'S BOOM-TIME AUCTION CLEARANCE
Both markets have recorded solid clearance rates this year, but the weekend loomed as the first real test of 2013.
Sydney's 513 listings for auction and Melbourne's 959 were double the numbers offered for sale the previous weekend and higher than the same weekend last year.
However, the two cities recorded strong clearance rates. Sydney's 76.3 per cent is the highest rate for years and reflects boom-time activity similar to the market in 2010. It follows a rate of 71.6 per cent the previous weekend and indicates growing market momentum.
For the same weekend last year the clearance rate in Sydney was 56.6 per cent, showing how far the market has come over the past year.
There are also signs of a more generalised upswing, with increased buying in the recently dormant prestige market. Eight properties were reported sold in Sydney with a value above $2 million, including one sale of $3 million and another of $5 million.
The inner west remains the auction hot spot, with the highest regional clearance rate of 83 per cent – and this from the highest number of listings.
The median price for houses reported sold in the inner west at the weekend was $983,750; for units it was $573,000.
The highest reported sale in Sydney was a six-bedroom house in Vaucluse that sold for $5.15 million. The lowest reported sale was a three-bedroom house in Carramar for $368,000.
Like Sydney, Melbourne recorded its strongest result since the house price boom of 2010 despite a high number of listings. And like Sydney the weekend's 71.6 per cent clearance rate was significantly higher than the rate recorded a year ago on the same weekend.
Signs are emerging in Melbourne that the buyer momentum in the prestige market through most of last year may be spreading to mid-range price sectors, particularly in the eastern suburbs.
It's no secret or surprise that the stronger housing markets in Sydney and Melbourne are being driven by historically low interest rates and rising confidence.
The heating up and the inevitable price rises that will follow will provide the Reserve Bank with a conundrum given signs of continued weakness in other sectors of the economy.
Dr Andrew Wilson is senior economist for Australian Property Monitors.
CLICK HERE TO DOWNLOAD SATURDAY'S AUCTION RESULTS
Tuesday, February 19, 2013
Tuesday, February 12, 2013
MY YOUTUBE CHANNEL FOR 2013
As well as the usual Market Update and Buyer and Seller Hints and Tips I will also be bringing you interviews with Industry Experts... Charles Tarbey and Tom Panos just to name a few!
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