September 2015
Wollongong
Property Management News
Welcome We are proud to announce our new amalgamation between First National O’Connor and Ted Hanson’s Southern Estates Team. This new affiliation enables us to better serve Wollongong and the greater Illawarra region with added expertise and local insight. Ted Hanson now heads up our commercial division and brings with him over 28 years of local real estate
Market Snap Shot
experience. He is an award-winning
In his statement on the RBA’s Monetary Policy Decision on 4th August, Governor Glenn
the Wollongong market.
Stevens had this to say about the Australian economy: “In Australia, the available information suggests that the economy has continued to grow. While the rate of growth has been somewhat below longer-term averages, it has been associated with somewhat stronger growth of employment and a steady rate of unemployment over the past year. Overall,
agent with a strong understanding of
Sean O’Connor is managing the sales department, with more than 30 years’ experience in local real estate, Sean
the economy is likely to be operating with a degree of spare capacity for some time yet.”
is in a unique position for helping local
He adds “Low interest rates are acting to support borrowing and spending. Credit is recording
goals.
moderate growth overall, with growth in lending to the housing market broadly steady over recent months. Dwelling prices continue to rise strongly in Sydney, though trends have been more varied in a number of other cities. The Bank is working with other regulators to assess
residents achieve their real estate
We also welcome Grant Fanning to the team as General Manager his
and contain risks that may arise from the housing market.”
expert in sales strategy, marketing
With much speculation in the media on the state of the Sydney housing market, this is
experience spanning over 40 years,
excellent news to hear from our governing body, knowing that it is being closely monitored
and management. With extensive Grant’s involvement in local real
to avoid large risks.
estate and many other industries has
In the real estate market, CoreLogic’s latest data shows that Sydney and Melbourne have
management and innovation.
continued to be the two capital cities in Australia that are driving home values higher. In fact, this growth coupled with new stock additions to the Australian market meant that the aggregated national value of all dwellings in Australia has now hit the $6 trillion dollar mark. Further afield, in the past 12 months values in Darwin and Perth have fallen by 5.3% and 0.3% respectively. Interstate investors will be watching these markets particularly closely in the year to come.
seen him as an expert in his field of
Together,
we
look
forward
to
continuing to serve our clients with our tailored, strategic approach to local real estate sales and investment.