First National Coast & Country Market Review Booklet October-December

Coast

Market update

On the back of what was a crazy year for Real Estate, 2022 presented many hurdles particularly from May onwards. With the federal election, several interest rate increases and international affairs impacting buyer confidence –the market transitioned from what was largely a seller’s market to a much more settled environment, typical of normal market conditions.

In general, the expectations of sale prices dropped from the middle of the year, and average days on market increased (61 compared to 31 in 2021).

However, the year was not short of sale achievements! 7 street records, 1 estate record, 1 vacant land record, and a suburb record for Kiama, were amongst our 112 sales for the year

From our Principals

C O A S T & C O U N T R Y

We were also fortunate to be named Winners of the Real Estate Institute of NSWResidential Sales Team Award! This was a huge honour. These awards are the biggest and most respected industry awards in NSW. This award considers not only sales volumes and results, but also client satisfaction and community support

What are we predicting for 2023?

Our outlook for the first two quarters of 2023 is for a steady market, which now seems to have factored in any future interest rate rises. With wages slowly increasing, immigration increasing, rents rising and interest rates settling, it feels like we should pass the low point around the middle of the year and see higher numbers of buyers enter

back into the market during the third and fourth quarters Even though properties are still taking a little longer to sell, the prices being achieved are still very good. Sale prices do generally come back slightly after a substantial amount of growth in a short period of time, and this is exactly what we have experienced over the last two quarters of 2022

In conclusion, 2023 will quite likely play out to be a year where the market steadies and settles down and there is no doubt, that we will still have plenty of people wanting to purchase their little piece of paradise in the amazing little coastal strip we all love so much

TERRY DIGGER | JASON STALGIS PRINCIPALS

Our Properties For Sale

First National Coast & Country is the longest-serving real estate team in the area. Having operated throughout Kiama, Gerringong and Shoalhaven Heads for 30 years, we are proud to offer the largest and most experienced real estate group of professionals, working hard to provide you with the best service and local knowledge.

Over the next eight pages, we have showcased our latest properties for sale. Whilst this is up to date at the time of publication, our listings are forever changing. Contact us today to enquire about our latest and upcoming properties for sale.

Real Estate tips

Tips for navigating the property market

Choose a good community

Buying a new home isn't just about the physical property the connectivity of the location, local amenities and surrounding community are important factors to consider. Look for a community with schools, transport, community hubs, sporting fields, and beautiful parklands these often mean it’s a high growth area and may yield a bigger return if you do choose to sell.

Know your financials

First and foremost, when it comes to purchasing property, getting your head around your budget and outgoing costs is essential.

It’s a good idea to visit the bank, a broker or a financial advisor to look at your earnings and figure out precisely what you will be able to repay each week, factoring in rising interest rates. Remember, it's not just the deposit you'll have to factor in Stamp duty, conveyancing fees and building inspections are all potential costs to factor in.

Understand your buying power

While buyer activity is picking up as greater housing supply returns to the market, many are still choosing to hold off. Buyers who move now will benefit from reduced competition, Moore says. "This is obviously great for buyers as it takes the pressure off," he says. "They don't have this fear of missing out, which gives them more chance to think about their decision"

Don't wait too long

Home prices have declined due to the rising interest rates welcome news for buyers trying to make their dream home a reality. However, the downward trend won't last forever, cautions Moore. "Further out from mid-2023, the fundamentals of housing demand remain very strong and we do expect prices to pick up," Moore explains. With conditions becoming more favourable to buyers, as well as great pockets of opportunity, it’s a great time to start the journey.

Sales Agent

Principal JASON STALGIS Principal TERRY DIGGER

Sales Agent

ANGIE RITCHIE Sales Agent

JOE DIGNAM

Sales Agent ANDY WHARTON Sales Agent DAVID HALL Sales Agent

KIM VAUX Sales Associate to Terry Digger COAST & COUNTRY PROPERTY NEWS 18

ABBEY MURPHY

Sales Team

CLAIRE NUNN Sales Agent

RYAN STALGIS

REINSW AWARD WINNERS

No 1. Residential Sales Team NSW

The Real Estate Institute NSW has recognised outstanding industry achievement, crowning the winners of its 2022 REINSW Awards for Excellence.

A huge Congratulations to our team for winning the

RESIDENTIAL SALES TEAM!

This year REINSW acknowledged and celebrated 25 years of the REINSW Awards for Excellence and the fact that it continues to be the most prestigious and respected industry awards event in New South Wales, recognising the best of the best within the real estate industry. The Awards for Excellence celebrates those who’ve really gone that extra mile despite such trying times.

This is a great honour for our team, however we wouldn’t achieve this success without our valued clients and we cannot thank you enough for your continued support!

Region ResultsRental Properties

Rental Market Update

Although the vacancy rates for 2022 continued to stay low, we saw quite a number of landlords sell their properties while the sales market was at its peak. As the interest rates rose they then started to move back into their own properties again due to soaring costs of maintaining a rental property. With people still lining up to move into the region, affordability has become difficult for some local residents. At the moment the current market is stable with not a lot of movement by tenants, partly due to the lack of options available.

last 12 months

Property Management Team

First

National Coast & Country are here for all of your Property Management needs

Renting and managing property is often a new experience. That’s why we pride ourselves on clear communication and understanding each landlord’s needs from the outset. We make sure we work with you from our initial meeting, throughout the renting process and during the ongoing care and managementofyourproperty.

Real Estate tips

How to Increase The Rental Value of Your Home?

As an owner of an investment property, your goal is to maximise the rental income of your house or apartment. Having longer-term tenants reduces re-leasing fees, advertising costs and periods where rent is not being earned. Here are several suggestions for keeping your tenants happier and increasing your rental income.

New Roller Blinds

New roller blinds are a relatively inexpensive way to spruce up a rental property. Roller blinds are space-efficient and unlike curtains, they fit right in the window, taking up no more space than the size of the window itself Roller blinds don’t collect dust, either, which makes them great for renters with allergies. Roller blinds are also safe for children and pets.

Energy Efficiency

For rental properties, while your tenant pays utility bills, it is wise to consider energy-efficient lighting, water tanks and solar panels. While this may not increase rental returns, it is these features which renters are attracted to. There may be rebates from utility providers so it is definitely worthwhile exploring these smart energy efficiency options while assessing the property market.

Home Comforts

The non-essential luxuries that improve our lifestyle have become a key factor in increasing selling prices and rent for many inner-city homes. A split heating and air conditioning system is a great addition to one or two rooms in the house Less expensive home comforts like ceiling fans, heated towel rails and higher quality window furnishings can give you the competitive edge in the rental market.

Improve Storage

Improving the storage capacity of your rental property can be a huge drawcard for some renters. If prospective tenants see that they will not have enough room for their belongings during viewings, your property can be removed from their shortlist of choices. You can start by adding built-in wardrobes to your property, which can help tenants picture themselves living in the space