Barry O'Farrell, the Premier of NSW, must be reading my blog.
Only 10 days ago I wrote that we can expect rising prices in the south-west of Sydney over the next 12 months.
Then, only 7 days ago, NSW Treasurer, Mike Baird delivered the first Budget for the recently elected Liberal Government announcing the end of the First Home Plus scheme. These changes, to come into place from the beginning of 2012, will mean first home buyers will miss out on the First Home Owner's Grant and be forced to pay thousands in stamp duty.
The practical effect of these changes will create a first home buyers rush in the months leading up to Christmas 2011 causing property prices to increase and then, as the number of first home buyers disappear from the market after the new year, a decline in sale prices for the first few months of 2012.
Is this good government? I know the states finances are in a mess but is this the best solution, to play havoc with the property market, especially at the more affordable end here in Campbelltown?
Let me know what you think.
Monday, 12 September 2011
Wednesday, 31 August 2011
Is it time for another boom?
Tomorrow is the first day of spring, although, given the warm weather recently you could be forgiven for thinking that it had started a few weeks ago.
With spring comes the annual influx of buyers. More calls to our office, more email enquiries in our inboxes and great crowds at our open houses every Saturday.
If I were thinking of selling my home and trading up (or down) I couldn't pick a better time.
In our latest newsletter I ask if it is time for another "boom" in property prices. After all, there are a few indicators which bear consideration.
For example, the last boom was in 2004, 7 years ago. The rental market continues strongly with more tenants than homes for them to occupy. The share market is a disaster with prices plummeting daily. And there's a lot of talk in finance circles that interest rates will fall over the next 12 months.
So, are prices on the way up? Find out by asking for a copy of our latest newsletter. This month we also include our annual review of the property market for each suburb in Campbelltown. Drop me an email if you would like a copy ... mos@prudential.com.au
With spring comes the annual influx of buyers. More calls to our office, more email enquiries in our inboxes and great crowds at our open houses every Saturday.
If I were thinking of selling my home and trading up (or down) I couldn't pick a better time.
In our latest newsletter I ask if it is time for another "boom" in property prices. After all, there are a few indicators which bear consideration.
For example, the last boom was in 2004, 7 years ago. The rental market continues strongly with more tenants than homes for them to occupy. The share market is a disaster with prices plummeting daily. And there's a lot of talk in finance circles that interest rates will fall over the next 12 months.
So, are prices on the way up? Find out by asking for a copy of our latest newsletter. This month we also include our annual review of the property market for each suburb in Campbelltown. Drop me an email if you would like a copy ... mos@prudential.com.au
Friday, 26 August 2011
Is the property market "weak" at the moment?
Going by all reports you read in the papers and online you would think the property market was weak at the moment with prices falling and buyers few and far between.
Unfortunately, these reports are concerned with the Sydney market, not the Campbelltown market.
Is there a difference, I hear you say? Yes, there is!
Campbelltown is located 55 kilometres from Sydney and has a completely different buyer profile from that of Sydney. Buyers who might consider buying in Sydney would not think of buying in Campbelltown and vice versa.
And right now the market in Campbelltown is very healthy. Sales prices may not be increasing dramatically but sales are occurring every day. For example, May and July of this year have been record months for our office - and these things do not happen when the market is weak.
A property listed for sale today with Prudential Real Estate Campbelltown can expect to be sold in 26 days (our current average sale time).
Unfortunately, these reports are concerned with the Sydney market, not the Campbelltown market.
Is there a difference, I hear you say? Yes, there is!
Campbelltown is located 55 kilometres from Sydney and has a completely different buyer profile from that of Sydney. Buyers who might consider buying in Sydney would not think of buying in Campbelltown and vice versa.
And right now the market in Campbelltown is very healthy. Sales prices may not be increasing dramatically but sales are occurring every day. For example, May and July of this year have been record months for our office - and these things do not happen when the market is weak.
A property listed for sale today with Prudential Real Estate Campbelltown can expect to be sold in 26 days (our current average sale time).
Saturday, 9 July 2011
The most existing thing that happened this week was the installation of our new server.
Yes, I know this sounds exceedingly boring, however, the great benefit to come from this enormous investment is that Prudential Real Estate property investment clients will be able to access information about their properties online - past and current statements and soon maintenance updates.
To the best of my knowledge we are currently the only real estate agency in the south-west with this ability and our clients can now enjoy this added service simply by calling our office to arrange everything
Yes, I know this sounds exceedingly boring, however, the great benefit to come from this enormous investment is that Prudential Real Estate property investment clients will be able to access information about their properties online - past and current statements and soon maintenance updates.
To the best of my knowledge we are currently the only real estate agency in the south-west with this ability and our clients can now enjoy this added service simply by calling our office to arrange everything
Thursday, 30 June 2011
Real Estate Agencies Starting Anew
Often when people are choosing a real estate to use, they are hesitant to hire an agency that is new or not well known to them. They are dubious about their experience in real estate and wonder how long the agency has been in business. Naturally they want the best agency for a successful sale or purchase. New agencies are springing up quite frequently as real estate is big business, but this does not necessarily mean they are all just starting out and inexperienced. Of course this could apply to some. However many have resulted from previous partnerships that have decided to part company and start up separately.
The best thing to do is to visit the agency and find out whether they are new and inexperienced, or if they have been in the business for a long time and formed a new company. This is sometimes done because they have better ideas in marketing strategies that former partners have not agreed on and the resulting split allows the newly formed company to use those strategies themselves. This being the case companies may have a new name, but a wealth of experience and new ways of marketing that are more successful than conventional ideas. Therefore instead of automatically crossing new real estate Sydney agencies off your list, check out their history.
A reformed real estate Campbelltown agency may have newer marketing strategies for selling your home with less stress, better sale prices through appraisals, and faster results. A variety of selling methods created to suit individual needs ensures the client is always consulted and advised of the best way to sell. One of the advantages of using a real estate to either buy or sell homes is the range of homes in their portfolio. If you are selling, they will find you prospective buyers, and if buying they will try to match your preferences with homes they have for sale. This save you time looking at ads in the newspapers each day, and contacting the owners for a time to inspect a home you think is suitable.
From the time you list your home with the agency right through to signing the contract, whether you are buying or selling, you can be sure of professional service and courtesy. Taking into account the time and stress they save you by doing it yourself, enlisting the help of a real estate agency is by far the best decision you could make.
The best thing to do is to visit the agency and find out whether they are new and inexperienced, or if they have been in the business for a long time and formed a new company. This is sometimes done because they have better ideas in marketing strategies that former partners have not agreed on and the resulting split allows the newly formed company to use those strategies themselves. This being the case companies may have a new name, but a wealth of experience and new ways of marketing that are more successful than conventional ideas. Therefore instead of automatically crossing new real estate Sydney agencies off your list, check out their history.
A reformed real estate Campbelltown agency may have newer marketing strategies for selling your home with less stress, better sale prices through appraisals, and faster results. A variety of selling methods created to suit individual needs ensures the client is always consulted and advised of the best way to sell. One of the advantages of using a real estate to either buy or sell homes is the range of homes in their portfolio. If you are selling, they will find you prospective buyers, and if buying they will try to match your preferences with homes they have for sale. This save you time looking at ads in the newspapers each day, and contacting the owners for a time to inspect a home you think is suitable.
From the time you list your home with the agency right through to signing the contract, whether you are buying or selling, you can be sure of professional service and courtesy. Taking into account the time and stress they save you by doing it yourself, enlisting the help of a real estate agency is by far the best decision you could make.
Monday, 9 March 2009
Is this a boom ?
Throughout most of 2008 the number of property buyers in our local market here at Real Estate Campbelltown seemed to decline further as each month went by.
Then on October 14 2008 the Federal Government announced the First Home Owners Boost scheme which effectively doubled the grant available to first time property buyers to $14,000 in the case of established houses and up to $21,000 for new homes.
The effect was not felt immediately but by the first few weeks of January we could tell things were moving. The number of buyers phoning about properties increased steadily each day until the first week of February when we were receiving almost 50 new enquiries a day.
We were overwhelmed !
Homes priced at less than $300,000 started to sell on the same day they became available. Buyers began to outbid one another for the right to sign a contract. And most of our properties were being sold for full price.
In quick time we started to ask higher and higher prices. And buyers kept buying. And now in the first few weeks of March I could confidently say prices in the lower brackets have increased by as amuch as 10% over similar properties sold only 3 months ago.
But will it last ?
If the Federal Government retracts the grant at the end of June 2009 - as they are currently saying they will - the market here in Campbelltown will probably slump and prices will retreat once more.
I think the Governement would be bonkers to curtail the grant at the end of June. Given the range of other economic problems this country is facing they would be completely irresponsible to pull the plug on the one "stimulus" measure that has worked since the Global Financial Crisis reared its ugly head last year.
Then on October 14 2008 the Federal Government announced the First Home Owners Boost scheme which effectively doubled the grant available to first time property buyers to $14,000 in the case of established houses and up to $21,000 for new homes.
The effect was not felt immediately but by the first few weeks of January we could tell things were moving. The number of buyers phoning about properties increased steadily each day until the first week of February when we were receiving almost 50 new enquiries a day.
We were overwhelmed !
Homes priced at less than $300,000 started to sell on the same day they became available. Buyers began to outbid one another for the right to sign a contract. And most of our properties were being sold for full price.
In quick time we started to ask higher and higher prices. And buyers kept buying. And now in the first few weeks of March I could confidently say prices in the lower brackets have increased by as amuch as 10% over similar properties sold only 3 months ago.
But will it last ?
If the Federal Government retracts the grant at the end of June 2009 - as they are currently saying they will - the market here in Campbelltown will probably slump and prices will retreat once more.
I think the Governement would be bonkers to curtail the grant at the end of June. Given the range of other economic problems this country is facing they would be completely irresponsible to pull the plug on the one "stimulus" measure that has worked since the Global Financial Crisis reared its ugly head last year.
Monday, 1 December 2008
New web site ... at last !
After what seems an eternity our new web site was finally published today - hooray !
Although we have been in business for more than 20 years we have only had a web presence for about 10 years. Over this period we have had 3 prior versions of our web site - each one improving on the one before.
But this new version is amazing. It contains the most comprehensive volume of information on the local property marketplace ever produced. So, no matter whether you are buyer, a seller, a tenant or a property investor you'll find lots and lots of interesting stuff on just about any subject.
Our web site at http://www.prudential.com.au/ is the centrepiece of a suite of web sites designed to create a genuine "one-stop-shop" for our clients and for visitors.
Additional sites include www.sellmyproperty.info which is a site specifically designed to describe and highlight our property selling services.
In the same light, www.rentmyproperty.info is a dedicated property management site providing a complete description of every aspect of our residential property management service.
When you visit our site you’ll also be treated to a wide variety of FREE downloadable booklets on range of property issues – most offering tips, shortcuts and money-saving ideas for anyone hoping to buy, sell or rent property in the local area.
Because our new site is so extensive I’ve had some difficulty checking each page and reading every word. So, If you can find a mistake on any page (except suburb statistics which I haven’t yet finished) you’re welcome to post the details on this site and I’ll be happy to supply you with a lottery ticket for your trouble.
I’d also appreciate your feedback on the look and content of the site.
Best regards, Michael
Although we have been in business for more than 20 years we have only had a web presence for about 10 years. Over this period we have had 3 prior versions of our web site - each one improving on the one before.
But this new version is amazing. It contains the most comprehensive volume of information on the local property marketplace ever produced. So, no matter whether you are buyer, a seller, a tenant or a property investor you'll find lots and lots of interesting stuff on just about any subject.
Our web site at http://www.prudential.com.au/ is the centrepiece of a suite of web sites designed to create a genuine "one-stop-shop" for our clients and for visitors.
Additional sites include www.sellmyproperty.info which is a site specifically designed to describe and highlight our property selling services.
In the same light, www.rentmyproperty.info is a dedicated property management site providing a complete description of every aspect of our residential property management service.
When you visit our site you’ll also be treated to a wide variety of FREE downloadable booklets on range of property issues – most offering tips, shortcuts and money-saving ideas for anyone hoping to buy, sell or rent property in the local area.
Because our new site is so extensive I’ve had some difficulty checking each page and reading every word. So, If you can find a mistake on any page (except suburb statistics which I haven’t yet finished) you’re welcome to post the details on this site and I’ll be happy to supply you with a lottery ticket for your trouble.
I’d also appreciate your feedback on the look and content of the site.
Best regards, Michael
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