November 2013

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Whoosh!!!!  That  was  2013.  It  is  hard  to  believe  the  year  has  gone  by  so  quickly  and  we  are  heading  for  Christmas  this  month  already.    

It  has  been  a  huge  year  for  us  with  many  challenges  and  many  more  achievements!!!!    

I  would  like  to  take  this  opportunity,  to  THANK  you,  our  loyal  clients,  for  your  ongoing  support  throughout  the  year,  and  I  would  also  like  to  thank  our  AMAZING  TEAM  for  their  stalwart  focus  and  commitment  to  their  task.      

The  vacancy  rates  in  the  second  half  of  the  year,  brought  about  by  low  demand  has  really  called  for  incredible  adaption  

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and  resourcefulness,  as  it  is  an  environment  which  is  somewhat  foreign  to  us  in  the  Southeast  of  the  State.  We  are  hoping  for  a  full  recovery  in  2014,  but  meantime,  although  there  has  been  some  improvement,  like  us,  our  colleagues  in  the  industry  are  still  reporting  record  “Property  for  Let”  lists  across  all  categories.  

This  will  be  the  final  MBRE  Newsletter  for  2013,  so  I  wish  to  take  this  opportunity  to  wish  you  all  a  Safe  and  Peaceful  Holiday  Season  wherever  you  may  be,  and  also  wish  you  health,  happiness  and  prosperity  for  2014.    

Warmest  Regards  Maryanne  &  All  the  Team  at  MBRE    

PROPERTY MANAGEMENT

NEWS  

Christmas  Opening  Times  The  following  are  our  Open  Times  for  the  Holiday  Period.  

Emergency  Numbers  will  be  available  on  our  Office  Answering  Service.  

Our  office  will  close  5pm  on  Monday  23rd  December  2013.  

We  will  re-­‐open  9am  on  Friday  3rd  January  2014.  

Property  of  the  Month      Block  Of  Flats  for  $699,000  –  HUGE  RETURNS  3  x  2  Bedroom  -­‐  Solid  Brick  and  Tile  Flats,  or  make  the  most  of  the  easy  access  main  road  position  and  run  your  business  from  downstairs  as  the  current  owners  have  done.    Located  conveniently  on  a  Service  road,  on  a  grand  sized  890m2  block,  this  beautiful  low  maintenance  property  is  the  perfect  addition  to  any  portfolio.  With  mod  kitchens  and  polished  floors,  returns  are  around  the  $1000  per  week,  and  with  a  little  tweaking,  (Subject  to  council  approvals)  there  is  excellent  potential  to  increase  the  accommodation  downstairs.    Bus  Transport  is  at  the  door,  shops  are  a  short  walk  up  the  road,  rail  close  by  and  Westfield  shops  just  up  the  road.  Add  this  to  the  new  to  the  massive  bus  way  system,  and  Airport  link  tunnels,  you  are  virtually  inner  city  when  it  comes  to  convenience.    

After   a   slowish   start   to   the   year,   the  Sales  market  has  begun  to  move   in  a  steady  upward  direction.    The  change  of  government  in  September  gave  the  business   sector   the   confidence   it  needed  for  investors  to  take  the  leap,  and   this,   along   with   a   resurgence   of  first  home  buyer  numbers  has  placed  healthy  demand  at  the  entry  level.    At  the  moment  we  are  seeing  a  shortage  of  good  stock  as  properties  are  being  sold   virtually   as   they   are   listed.   The  banks   are   now   very   much   open   for  business,   this   also   finally   extending  into   the   prestige   and   development  sectors  which  have  been  frighteningly  static  since  the  GFC.  With  a  horizon   like   this,  even   though  there  are  still  global  factors  that  need  to   be   watched,   we   are   looking   with  optimism  to  2014  as  a  year  of  modest  recovery.  Should   you   wish   to   discuss   your  particular  property  or  situation  within  the  market,  we  are  always  happy  and  available   to   offer   relevant   and   up   to  date  market  advice  and   invite  you   to  look  us  up  anytime..

141 Riding Rd Hawthorne Q 4171 Ph: 07 3899 1888 Fax: 07 3395 7246 www.maryannebirch.com.au rentals@maryannebirch.com.au

Median Rents for September 12 & 13 Quarter

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 $400 $380 $420 $410 $430 $445 $550 $600 $555 $590 $900 $900

Cannon Hill / Norman Park / Morningside $250 $270 $375 $360 $400 $400 $500 $500 $460 $450 $670 $670

Camp Hill / Carina / Carindale $250 $270 $360 $350 $380 $375 $435 $450 $430 $440 $560 $560

Coorparoo $260 $260 $350 $365 $350 $420 $500 $500 $430 $480 $550 $640

East Brisbane / Kangaroo Point $350 $330 $480 $495 N/A $450 $590 $490 $500 $530 $765 $630

Greenslopes / Stones Corner $260 $280 $340 $360 N/A N/A $490 $475 $430 $450 $496 $600

Murarrie N/A N/A N/A N/A N/A N/A $480 $485 $400 $400 $600 $650

Woolloongabba / Dutton Park $310 $275 $430 $390 N/A N/A N/A N/A $490 $490 $635 $610

Wynnum $210 $146 $320 $350 $320 $335 $380 $390 $400 $400 $470 $480 * For more details, other areas, and comparisons, refer to http://www.rta.qld.gov.au/median_weekly_rents.cfm

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There  are  radical  changes  to  be  introduced  in  the  first  half  of  2014  to  the  PAMD  Act  which  currently  governs  and  regulates  our  industry.    

The  new  Bill  (Property  Occupations  Bill),  will  abolish  a  lot  of  the  very  onerous  procedures  and  compliance  requirements  which  have  stifled  our  industry  for  the  past  13  years.  

Simplicity  has  been  the  main  focus,  and,  based  on  a  briefing  by  the  REIQ  (which  has  been  hugely  instrumental  in  prescribing  the  changes),  there  will  be  an  enormous  winding  back  of  beaurocratic  argey-­‐bargey.    

The  main  changes  will  be  in  the  following  areas;  

• De-­‐regulation  of  Commissions  • No  More  seller  commission  disclosure    

-­‐  Form  27c  • Separating  the  Real  Estate  industry  

from  the  Motor  Dealers  Industry  • Abolishment  of  the  Form  30c  Warning  

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Statement  –  Cooling  Off  periods  will  still  apply,  but  a  2  page  statement  will  be  replaced  with  2  sentences  which  will  be  printed  on  to  the  REIQ  contract.  

• No  More  BCCM  Form  14    -­‐  Body  Corp  and  Community  Management  Statement  for  Unit  sales  

• Beneficial  Interest  Rules  are  to  change  -­‐  laws  surrounding  Agents  acquiring  property  

• Maximum  Sole  and  Exclusive  Agency  periods  to  be  extended  to  90  days  

• Repeal  of  Codes  of  Conduct  • Tougher  Laws  for  Lending  of  Licences  • Auction  related  amendments  

 

Please  be  aware  that  these  proposed  changes  are  not  yet  law,  and  some  provisions  may  change  as  a  result  of  consideration  and  debate  by  Bills  of  Parliament.  

 

New  Legislation  –  Big  Changes  to  the  PAMD  Act  in  2014    

Median  Rents  for  the  September  Quarter.  See  attached  spreadsheet  for  some  of  the  suburbs  in  our  local  area.  

These  are  mainly  self  explanatory  –  and  as  always,  for  more  details,  other  areas,  and  comparisons,  refer  to  http://www.rta.qld.gov.au/median_weekly_rents.cfm  

Refer  a  Friend    and  Receive  3  Months  Free  Management  Fees.    Send  Them  to  US  and  we  Will  Rebate  Your  Fees  

For  3  Months!!  

QUOTES  OF  THE  MONTH  You  may  have  to  fight  a  battle  more  than  once  to  win  it  MARGARET  THATCHER  ___________________________________________  

When  holidaying,  always  get  there  yesterday.  That’s  when  the  fish  are  biting.  W.G.P.