First Impressions Count

You wouldn’t go to a job interview in your pyjamas, so why would you put your house on the market looking untidy?

In the last month or so we have experienced an increase in supply of  properties on the local Macarthur market. This means that the number of buyers attending open homes is now further spread and therefore less than the usual stampede.

Prudential Real Estate wants to ensure that our client’s property stands head and shoulders above the rest...so here is our advice to vendors looking to stand-out this selling season.

First Impressions Count

From the curbside to your front door should be impeccable. Allocate a weekend to tidy up and repair the external appearance of the property and walk around your property as if you are a buyer critiquing your home and take note of areas that require improvement.

Some ideas about what you should focus on sharpening: cut back hedges and overhanging tree branches, clean out gutters, repair and paint awning, wash down windows and doors, fix fences and paths and fertilise and water plants. Note: remove all garden ornaments...if you collect gnomes or pink flamingos in your garden that’s fantastic, but not to everyone’s taste.

                                                                  

Indoor- outdoor living is all the rage

Invite the indoors out by decluttering pergolas, BBQ areas and styling these areas with welcoming outdoor furniture and inexpensive outdoor accessories including lanterns, candles, table settings and cushions.

                 

Cleanliness is next to godliness

Clean down indoor and outdoor areas and make the whole house sparkle!

Doing a major Spring clean a few weeks ahead of the first open home will allow you to undertake minimal maintenance with a brief touch-up here while your home is on the market. Make a feature of key rooms such as the pool/spa, bathroom and kitchen by making them gleam!

Create interest and a sense of ‘home’

Polish and dress furnishings to the best of your ability and maximise countertop space. This will leave you with space that can afford personalised touches such as matching hand towels in the bathroom and hand moisturiser. Staging plays an important role in helping potential buyers picture themselves calling your property, ‘home’.

Heart is where the home is….and the kitchen.

No matter how many groups of buyers pass through your home, the only thing on the mind of the home cook is the state, presentation and practicality of the kitchen.

Our advice is to declutter, emphasise negative space on countertops, polish appliances and hide outdated appliances (if possible). We recommend that you also stage the kitchen with homely accents like a a bunch of fresh flowers or a decorative bowl of fresh fruit to win over the whole family.

For more handy hints about how you can add thousands to your property's sale price please email Shelby at shelby.cockburn@prudential.com.au for your free copy of 'How To Sell Your Home For Thousands More'.

Blink and you’ll miss out!

Phew!...What a crazy quarter it has been so far.

With the RBA’s decision yesterday to keep the interest rates on hold again, at a record 2.0% and with only slightly shifted buyer confidence, we have seen houses flying off the local market.

This is no surprise to us though, as CoreLogic RP Data states that the Sydney property market is the most hyperactive in the country. Our results can atest to this, with an impressive 80% of listed properties selling in less than 21 days as experienced in Currans Hill where on average, houses are spending 19 days on the market before being snapped up.

The journey to sold is even shorter for well-positioned properties in the local Macarthur market, with 20% of our properties listed in the last 60 days selling in under 7 days. We have been blown away with the speed in which we are selling homes, notably a property recently listed in Ingleburn sold within the first day of being on the market...unbelievable!

Moving into the Spring selling season, although we have seen a slight curb in buyer attendance to open homes, we are still receiving plenty of interest. Now is not the time to panic, but to cash-in while the market is still feeling the heat. If you are a vendor looking to sell your home, here is our advice to you- call Prudential Real Estate.

Finding the right agent and getting your home or investment ready for sale this Spring should be at the top of your priority list. As we move into September, buyers are still out in the local Macarthur and ready to invest in your property...so call us today and get Spring cleaning!

Honey…I housed the kids

With the boom in the Sydney property market sending housing affordability skyrocketing over the last 12 months, granny flats also known as secondary dwellings have become increasingly popular investments. The great Australian dream of homeownership for Gen-Yers is becoming a major feat which has seen some parents generously invest in a granny flat.

Catching wind of the increasing demand for secondary dwellings with the interest rates at a historically-low 2.0%, we can thank the NSW state government for simplifying the approval process. Offering investors a bypass of council approval through ‘complying developments’, the Department of Planning and Environment can now offer approval with a proposed 10-day turnaround. How exciting! no more council applications….

There are a few condition though which can be found here, so make sure to get all the facts before drawing out boundaries on Mum & Dad's back lawn.

We have increasingly seen the impacts of the Affordable Rental Housing- State Environmental Planning Policy (SEPP) in the local Macarthur property market, with traditionally larger size blocks being snapped up. Director Graeme Paddock confirms that “more than 50% of local properties sold within the past few months have boasted granny flat potential”.

Encouraged by the record-low interest rates and attractive rent potential, buyers are getting more bang for their buck than ever before- investment yield that cannot be surpassed. Graeme’s advice to buyers in increasing the value of their investment is to preferably “invest in either a corner block or a block with vehicle side access, this will offer you the opportunity to construct a carport and the convenience of a separate frontage, improving the property’s market value in the long run."

WOW...was it cold?!

Last Friday night a team of volunteers from Prudential Real Estate braved the cold to raise awareness about hidden homelessness in Macarthur.

Attending the Macarthur Homelessness Steering Committee’s annual Sleep Out event at Campbelltown Athletics Centre, we kept warm by playing soccer, tennis and even running around the track in our onesies!

Director, Michael O’Sullivan even sported a pink hippo onesie to pay up on his bet with Paul Meehan of Meehans Solicitors to achieve another $500 donation towards the cause.

With temperatures dropping from a balmy 10 degrees to 0.9 degrees overnight, our sleep out in cardboard boxes was definitely chilly, but the fantastic live entertainment, a delicious sausage sizzle held by the Lions Rotary Club and fun and games including a raffle and bingo gave us more than enough distraction from the cold.

As the night wrapped up our team had managed to keep our spirits up with a few hot chocolates, hot wedges, cheese and biscuits and a tonne of lollies...giving Director, Nick Gauci a sugar high and an inability to sleep that night (not anything to do with a certain neighbour’s snoring)...

Prudential Real Estate is very proud to have participated in the ‘Night Out in the Cold for a Cause’ event as gold sponsors, raising over $1500 for the Macarthur Homelessness Steering Committee. We would like to thank the team of volunteers who attended, our supporters and importantly the Social Committee for organising our sponsorship and participation in this event.

All in all we had a blast raising awareness for the homeless in Macarthur, but returning to our warm houses the following day, we know sleeping out in the elements is a harsh reality for many people in the community. We appreciate the struggles faced each day by the homeless and we are happy to return next year to support this worthy, local cause. We look forward to seeing you all there!

Will the banks cause the end of the boom?

The slow-down in the Sydney property market is inevitable like all good things - the boom must come to an end at some stage. There has been much speculation about when and if the property market bubble will burst which has been dismissed, but with greater talk about APRA’s recent pressure on the banks to increase their measures in reducing capital investment percentages under the 10% target… we are paying attention.

So we thought it was the right time to explain the imminent shift in the property market in layman's terms for our readers.

Let’s break it down, What is APRA proposing the banks introduce to avoid penalties?

• Increase the minimum deposit rate on loans
• Increase linear expenses to reduce the amount people can borrow
• Increase interest rates for new and existing customers

Why?

APRA is trying to regulate the high influx of investment in the market which is leaving the banks with limited cash holdings and placing the banks in risky territory. As the cash rate interest rate is at an all time record low of 2.0%, loans are looking more and more attractive to those looking to enter the property market and to investors looking to improve their portfolios.

The demand for finance stimulated by the low interest rate can be explained through the example of our all-time favourite childhood treat, the Cadbury’s Freddo Frog. Back in my day as a millennial, the humble ‘Freddo’ was double in quantity and a margin of the price, making it one of the most popular school fundraiser chocolates. Nowadays we are faced with paying an extra .50c to a $1 more for a thinner ‘Freddo’....neutralising demand. This is the reality we face for loan finance as well as APRA continued pressure on the banks to limit their amounts loaned and for a higher interest rate.

What will this mean for investors and homeowners?

Essentially the pressure on the banks will see investors faced with higher loan interest rates and more stringent borrowing limits- less for more! This shift in economic measures will shake up investor interest in the Sydney property market by making that much harder to grow your portfolio.

Homeowners will also be left with a bad taste in their mouths, with these stringency measures meaning high interest rates could be passed onto existing loan holders. The news doesn't look so good for first home buyers either... increased minimum deposits will mean high barriers to entry into the property game and ultimately more time renting or living at home.

The quarter that was...

This quarter has seen continued strength in the local property market, although we have experienced a slight shift in buyer interest, Fuelling the ongoing  fire that is the Sydney property market, the Reserve Bank's decision to hold interest rates at a record-low 2.0%, has caused the banks to take coool-off measures into their own hands. A move which over the next quarter, will continue to lock-out first home buyer an gradually deflate investor interest.

Heading into a new quarter APRA's pressure on the big four banks to reduce capital investment below the 10% and increase mortgage capital levels has seen Westpac's recent announcement of an increase to its minimum deposit to 20% to curb investor growth. This is a disheartening move for first-home buyers with a study by comparative website Mozo supporting that an average of 10 years will be needed by first-home buyers to save for a 20% deposit...it looks like the 'kids' will be living at home for a while.

Globally, the Greek debt crisis and Chinese stock market crash are also factors driving down the gradual relaxation of investor interest with the ASX 200 falling by 0.6% to recover, in the roll over to the new financial year.

The changing economics of the property market has seen and influx of properties to the market in the lead up to the end of the financial year, with investors taking advantage of the capital gains tax delay. The increase of supply will soften proces slightly which is a positive sign for buyers, however with the increasing desirability of the Macarthur area spiralling buyer interest into a frenzy, vendors should not be deterred from cashing in on their property while the market is red-hot.

Named within the top 10 growth regions of Sydney by realestate.com.au, Macarthur is a major growth hub. The area offers not only rail corridor access, but also connection to the Sydney Motorways and airports with plans for Badgerys Creek airport a welcomed convenience to the south-west. Encourage by ongoing planned infrastructure in the Macarthur region and upgrades to Narellan Road, people are flocking to the area.

Thanks for joining us for our quarterly snapshot of what has been and the exciting quarter to come!

We look forward to seeing you at our open homes this weekend.

No more jumping joeys on the lounge...

Kids will be kids whether they are drawing on the walls, putting their tiny fingers near electricals or jumping on the lounge dancing along to the Wiggles. Affectionately nicknamed the Mercurochrome kid, my parents definitely knew the struggles of keeping my childhood home safe.

With the home being the most common place for childhood injuries to occur, here are 7 important questions you should consider when assessing your home this winter:

1. What can my child climb around the house, balcony or backyard?

Whatever a child can climb...they will climb...remove temptation by:

• Removing all climbable and liftable objects from balcony edges and near pool fences.
• Clear the pool area and around the pool fence of toys, furniture and objects.

• Fit barrier gates at the bottom and top of stairwells- make sure the gates are fitted securely to prevent mishaps
• Always supervise children when near balconies, stairs or pools.

2. How many sharp edges in our home can be identified?

• Assess furniture for sharp edges and avoid purchasing fragile furniture or ornaments made of glass or metals.
• Load dishwasher with all sharp objects including utensils sharp end down

3. What can my child fit in his or her mouth that would harm them?

• Remove all small fridge magnets  as they can be a choking hazard for small children
• Buy age appropriate toys for your child/children and check toys for broken pieces to remove choking hazards.
• Ensure all surfaces in your house are hygienic, especially toys.

4. Are chemicals and dangerous substances locked away?

Ensure that all poisons, chemicals, cleaning products, medicines, cosmetics, lighters and matches are stored up high or locked away. Out of sight-out of mind is the best policy when it comes to eliminating the risk of children accessing chemicals.

It is also mindful to keep indoor and outdoor potted plants out of reach of small children due to fertilisers and poisons that may be present such as snail bait pellets.

5. How regularly is the smoke alarm test and/or replaced?

Install smoke alarms. Check and replace smoke alarm batteries every six months. Replace smoke alarms every ten years to ensure your family is protected. For more information please visit this site.

6. What areas of the home can be identified as slip, trip or fall hazards?

• Tack down loose edges on carpets and floor rugs
• Avoid over polishing floor surfaces and clean up all spills
• Secure open windows and ensure fly screens are well-fitted and secure.

7. What hot / electrical surfaces can my child access?

• Keep a fire extinguisher and fire blanket in the kitchen
• Install guards around heaters, open fires, oven doors and stove tops.
• Fit thermostatic valves to bathroom taps
• Fit tap guards to kitchen taps to restrict use
• Supervise children at all times when near heated devices, heaters or open flames.
• Keep kettle cords out of reach of children
• Keep pan handles turned away from the edge of the kitchen workspace

For a complete Home Safety Audit Checklist please follow this link.