Market Update May 2015
economic growth," Mr Lawless said.
that property has never been more affordable despite the high pricesâ€?.
Auctions go up This resurgence in home buyer demand has been particularly prevalent in the auction market.
How does the cash rate affect your property prospects? As you might have seen, in February the Reserve Bank of Australia (RBA) decided to cut the official cash rate (OCR) by 25 basis points, bringing it down to 2.25 per cent. This was the first change in the OCR in almost a year and a half, and it made waves in the property market. It's important to research the cash rate, whether you're looking to retire or open an investment portfolio. Doing your homework can offer you some insight into how to make the most of the current environment and alert you to what to do if there's another cut.
Interest rates go down While it doesn't directly drag the interest rates set by lenders down, the OCR does guide their direction. Speaking about the February rate cut, RP Data's head of research Tim Lawless said that interest rates following suit took the interest rates to their lowest point since 1968. This means nighunprecedented opportunities for Australians to buy real estate at great value, and people aren't hesitant to take advantage. â€œIt appears that home buyer demand has been re-energised by the lower cost of debt despite the headwinds of weaker labour markets and softer
Separate statistics from CoreLogic RP Data showed that in the lead-up to Easter this year, auctions were breaking new records for volume. This occurred in Perth, Adelaide and Sydney, of which the New South Wales capital is enjoying the strongest clearance rates as well. People know what they want, and it is hot property! Purchasing power stays strong Even though prices across Australia have been rising for property, the cash rate situation can actually make it easier for people to buy a home. Or at least Malcolm Gunning, president of the Real Estate Institute of New South Wales thinks so. "It is really amazing times because the low interest rates mean
And if you're buying your first home, you can also still claim the benefits of first home buyer grants. Evidently, there are a lot of positives flying around for Australian property at the moment. The OCR generally acts as a stimulus for the wider economy, and it appears that at the moment a particular shot in the arm is being given to property. Don't miss the opportunity this creates for you. Consider whether it's the right time for your next real estate adventure and ask our advice about investment or first home buyer opportunities locally. Alternatively, visit firstnational.com.au for general advice about all manner of real estate matters.
439a Bridge Road Para Hills Turn Key House and Land Package! Some of the specifications of this home include:
Timber frame and brick veneer construction Colour bond roof Aluminium windows and doors Carport with panel lift automatic door Stainless steel appliances (gas cook top) Instant gas hot water Tiled living areas Carpets or floating floors to Bedrooms Air conditioning Concrete driveway and perimeter path Landscaping.
finished, so you should get legal advice before agreeing to any conditions. There are a few things you should ask. First, investigate whether there are any penalties for withdrawing from the contract. Financial circumstances can change quickly and you don't want to be caught out.
Buying off the plan?
There is nothing more appealing than snapping up a house or unit for less than its value and making a great rental return, then waiting for the best time to take advantage of compound growth. In some cases, you can actually buy a property before the building has even been constructed. This is known as buying off the plan. If you want to go down this path, there are a number of things to think about. Legal tips Buying in this way is different than normal property purchases because you are entering into a contract without being able to view and inspect a physical building. The date for completing the contract is generally not until the building is
Ask questions In a big strata development, units can end up looking the same - but when you want to get as much profit from your investment as possible, you should also ask about customising the property. This can include choosing everything from appliances, wall colours and floor tiles; to finishes in the kitchen and bathroom. You might also enquire about your rights in construction phase. For example, you need to know if you're able to onsell during building, or what rights you have if building is finished earlier than expected but your finances aren't in order. This is especially the case if construction is delayed or if you've paid the deposit but the building doesn't go ahead at all.
INGLE FARM 8 Baradine Drive 3 bed 2 bath 6 car $360,000 PARA HILLS 12 Duchess Walk 3 bed 2 bath 1 car $345,000 PARA HILLS 38a Liberman Road 3 bed 1 bath 2 car $302,000 PARA HILLS WEST 1 Jose Court 3 bed 1 bath 1 car $227,500 SALISBURY EAST 19 Barbara Street 3 bed 1 bath 2 car $320,000 SALISBURY EAST 4/3 Jessica Street 2 bed 1 bath 1 car $190,000 Interested in a FREE appraisal? Whether you’re ready to sell or not, we’re happy to bring you up to date with recent results.
3 tips to take the stress out of downsizing There are many reasons behind the decision to downsize. Wanting a change in lifestyle, heading into retirement, children leaving home and financial gain are just some, but it can a difficult time of your life, not least because of all the happy memories you've had in the big family home. When you've decided to move on, leaving those experiences behind can sometime be a stress-inducing process. Here are some tips for getting the most out of this next adventure. 1. Rationalise One of the hardest aspects of moving to a smaller home will be
adapting to the smaller living space, so plan accordingly. Give yourself plenty of time before you move in to plan and rationalise all of your belongings. This can be done months in advance - make lists of all the things you can't live without, but be thorough and ruthless with your choices. If you haven't used an item in more than 12 months, it must go. Be thorough - the kitchen, for instance, is one room that can hold many unnecessary items. Consider putting unused items on auction websites, donating them to charity or holding a garage sale. 2. Compare
Consider taking some measurements during the inspection process to help you decide what furniture you will physically be able to fit into your new home. You can compare these to rooms in your current house to get a feel for how the layout might work and even prearrange what furniture will work in the new space. For example, your future living room might be the same size as your current bedroom. You might think you can fit two couches comparing will put things in perspective.
3. Get help Moving can be stressful, not least when you've got a whole lifetime of belongings to go through. Getting a friend or family member to help you sort through them will not only save time and avoid too much heavy lifting, they can help you make those difficult decisions. An objective, second opinion on sentimental items or pieces of furniture can make the process much more enjoyable.
Reverse Mortgages Local story
Question: I canâ€™t afford to stay in my home. Is a reverse mortgage the answer? Answer: Reverse mortgages help unlock access to the wealth tied up in your home, but you should consider the following.
They may leave you with too little equity in the future, affecting your financial capacity to move into supported or retirement accommodation. You may also find it challenging to adjust your lifestyle to your post-retirement reduced income.
Also keep in mind that you may not be in a position to leave an inheritance for your children.
ARE YOU THINKING OF SELLING YOUR HOME? Tim Schwarz 0448 884 599
Jakub Ratajczak 0448 114 454
Contact one of our Sales Consultants for your
FREE MARKET APPRAISAL Today! Paul Taylor 8264 2223
Gavin Armstrong 0408 802 350
Are You Looking To Buy? Below is a selection of some of our properties currently on the market.
To view all of our properties, visit our website at www.taylorsrealestate.net.au
INGLE FARM 17 Antarlo Road Colonial Beauty That Is Sure To Please Immaculately presented 3 bedroom home on a spacious 671m2 block, all bedrooms with built in robes, polished timber floors and ceiling fans, floor tiles to all main traffic areas, lounge with polished timber floor, bay window, updated kitchen/meals area with electric appliances and d/washer, bathroom with spa bath, shower, vanity, and toilet. Separate laundry and a second toilet, a large u/cover paved veranda, extended c/port with r/ door , work shed, solar hot water system, window shutters, air con. Gavin Armstrong
For Sale $325,000
0408 802 350
PARA HILLS 12 Duchess Walk
Be Quick or Miss Out On This One Too!
For Sale $$279,000 - $289,000
This solid brick three bedroom home is located in an affordable suburb where you still get reasonable sized allotments. This house has been painted and the living area has been developed into a larger open plan, consisting of an updated kitchen overlooking the dining and living areas. The updated bathroom has a new vanity, bath and tiles, the main bedroom has built-in-robe, and there is a spilt system air conditioner, gas htg and instant gas hot water. The spacious backyard consists of an entertaining pergola, tool sheds, fruit trees, carport with roller door, all situated close to local shops, schools and public transport. A single carport provides shelter and there is plenty of open space for the tenantâ€™s enjoyment. Tim Schwarz 0448 884 599
Published on Jun 9, 2015