property management news - maryanne birch · carindale $270 $270 $350 $360 $390 $400 $445 $450 $440...
TRANSCRIPT
January 2014
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Welcome to 2014. It promises to be a lot brighter than the last few years, and with this in mind I thought an overview of the local property market might be appropriate to kick the year off.
There is no question that property prices have improved in the past few months. Previous 6 month sales precedents on which we base our market appraisals are consistently being exceeded which is a solid indicator of an improving market.
Buyer numbers have markedly improved across all categories. First home buyers are making the most of the affordability of low interest rates and entering the market in numbers we have not seen in over 4 years. They are in active competition with the investors who have recognised the urgency to buy now before prices move up.
The effect of this is that the supply/demand scale is tipping and is already resulting in the shortening of available stock.
Developers are back with renewed confidence, with the banks (although more cautious than previously) re-‐opening their doors for business to the property sector. There was an undersupply of housing in Brisbane leading into the GFC, so now, there is a lag time of supply of new stock.
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Developers who were brave, savvy and wealthy enough to hold onto, or acquire sites when no-‐one else could, and develop them, have done well.
They rightly identified their target market as first home buyers cashing in on the $15,000 grant, and investors captilising on the combined benefits of low interest rates, strong rental returns, attractive depreciation structures and negative gearing.
By being able provide stock to a now ready market, well appointed and positioned stock is currently clearing out quickly – this applies equally to ‘off the plan’, and already built product.
Building costs are expected to rise with a surge of new developments coming on and the cost of development sites has already significantly increased. Two sites which we have been involved with selling over the past month have realised sales price results way above any we have seen in over 5 years and we are being contacted almost daily by developers seeking out prospective sites.
The meaning of all this: If you have been waiting until the market improves to list your property for sale, now is a good time.
If you are planning to buy, don’t wait around for prices to drop – it’s not happening!!!
PROPERTY MANAGEMENT
NEWS
Property of the Month: 1/90 Mowbray Tce, East Brisbane
Dress Circle Position -‐ Entry Level Price Tag -‐ $360k+ Located in one of East Brisbane’s finest streets this roomy 2 bedroom unit is the perfect pickup for a first home buyer or savvy investor. . With private hallway entry, great open plan living, bright modern kitchen, polished timber floors, separate balcony off living, large well appointed bathroom, separate toilet and secure lock up garage, this little beauty ticks every box. The well maintained boutique complex of only 10 is highly sought after for its convenience and lifestyle. Walk to the shops, City Cat or all the way to the city or catch the bus at your door.
Combine this with a good rental return, extremely low vacancy rates, low body corporate fees, there will be a lot of competition -‐ call Charles on 0413 749 377 to arrange your inspection, or for further information.
Refer a Friend and Receive 3 Months Free Management Fees. Send Them to US and we Will Rebate Your Fees
For 3 Months!!
Auction Results SUMMARY AUCTION
RESULTS REPORT for all suburbs in QLD from
30 December 2013 to 30 January 2014
TOTAL SOLD 145 31.7% TOTAL PASSED IN 296 64.8% TOTAL WITHDRAWN 16 3.5% TOTAL NO. OF AUCTIONS: 457 100%
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The December Medians have been released – see graph below for sample. As always, the full report is available on the RTA website on the following link http://www.rta.qld.gov.au/Resources/Median-‐rents Due to the desertion from the rental market of a record number of first home buyers, and higher supply of new rental stock available, we expected to see rental medians drop in the last 2 quarters of last year, and in many categories, this was the case.
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The encouraging factor is, though that when compared with the corresponding (December quarter 2012) period for the previous year, there has been, in most cases, around a 5% increase even higher in some cases. The other positive news is that we have had a fabulous January in terms of lettings, with a marked improvement of enquiries and applications throughout the month. Although this is partially seasonal, we are hopeful that the renewed demand will now continue.
SUBURBS
FLATS TOWNHOUSE HOUSES
1 Bed 2 Bed 2 Bed 3 Bed 3 Bed 4 Bed
12 13 12 13 12 13 12 13 12 13 12 13
Balmoral / Bulimba / Hawthorne $320 $410 $400 $425 $470 $440 $560 $575 $500 $590 $900 $900
Cannon Hill / Norman Park / Morningside $250 $280 $370 $390 $400 $405 $465 $490 $450 $450 $640 $730
Camp Hill / Carina / Carindale $270 $270 $350 $360 $390 $400 $445 $450 $440 $450 $540 $580
Coorparoo $265 $255 $350 $350 $480 $400 $470 $490 $445 $450 $550 $545
East Brisbane / Kangaroo Point $330 $325 $480 $495 N/A N/A N/A N/A $525 $520 $700 $695
Greenslopes / Stones Corner $270 $270 $350 $350 N/A N/A $520 $440 $430 $450 N/A $450
Murarrie N/A N/A N/A N/A N/A N/A $500 $520 $375 $450 $550 $680
Woolloongabba / Dutton Park $320 $330 $480 $470 N/A N/A N/A N/A $499 $495 $560 N/A
Wynnum $210 $207 $335 $330 $330 N/A $390 $390 $390 $405 $500 $515
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HOWEVER, it’s not a colour most people will use in large doses in their homes.
Colour forecasts and trends are intended to inspire and enliven the audience. A new colour palette for a new year heralds a fresh direction, new colours and tones to embrace.
But at a consumer level, this can be overwhelming.
Be inspired & awakened
The best approach is to be excited by trends, but not to feel slaves to them.
It’s important to note there will nearly always be something to suit your style.
For their 2014 Colour Forecast, Dulux have released four different inspiring palettes under the moniker ‘Future Tribes’. You’re sure to find something in there to tickle your fancy.
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Why it’s good to know
You may be thinking “do I even need to care about trends?”
The answer is ‘Yes’.
If you’re not keen to delve into the world of colour forecasting, that’s ok.
Let your designer do the caring for you – they will ensure your style maintains an element of contemporary, at least from a colour perspective.
If you’re flying solo and wanting to add new pieces, freshen up a tired space or deck out an entire new home, we recommend you be aware.
Colour is there to enjoy
At the end of the day, colour is about fun, joy and putting a smile on your face.
Extracted from an Article by Autheniticca -‐ a creative agency with a focus on interior and brand design
The 2014 Colour Trend Forecast
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The Colour Forecast aka trends, are something designers the world over – interior, fashion or industrial – eagerly await each year, with a particular focus on the ‘Colour of the Year’.
But how much should you really focus on them?
Should they rule your design decision-‐making process? Do they always work in everyday life or in mass scale?
How much should you focus on trends anyway?
2014 says….
Colour company Pantone announced Radiant Orchid was it’s 2014 Colour of the year, but that doesn’t mean you need to paint your house with it!
There is always a place for some magnificent mauve or lovely lilac.