Number1Agents : Blog

It was good news on the first Tuesday of the month with the announcement that the RBA had cut interest rates by 50 basis points. One week following this ANZ reduced their variable cash rate by 37 basis points making their rate slightly more than the current rate available with NAB or CBA.

This is very welcoming news to the property market and it seems that it has already created more confidence with auction clearance rates in the
Eastern suburbs a staggering 71%, in the week ending 13 May. This is the best result for over a year!

Stephen Koukoulas, Market Economist, predicted the larger than expected rate cut, “The RBA said: let’s play catch up and do the 25 basis point cut we could have arguably done in March and give 50 basis points in cuts knowing the banks probably won’t pass it all along” said Koukoulas. LJ Hooker Financial Services head of finance, Peter Bromley said that while it was good to see the Reserve Bank cut rates, the board could stand to cut a lot more. “By comparison to other developed countries, Australia’s cash rate is incredibly high….others have said the official rate should be cut to 2% and I tend to agree…Not only would it generate a lot more activity in the housing industry, which needs stimulus, but it would also improve overall confidence….The Reserve bank may not cut rates to 2%, but it is very likely that they will at least trim further.” Bromley said.

Our economy is performing much better than Europe and the US so I doubt we’ll see rates dropping more than another 50 basis points this year.
L. Janusz Hooker, Deputy Chair, LJ Hooker franchise, says “The NZ market is performing its best in 5 years and WA just had their strongest March in a few years. The broader market will turn at some point.”

Australia is experiencing relatively low levels of unemployment, historically high level of savings, the resources sector is booming and offshore, the US is slowly recovering and our largest export partner China is still growing at a solid rate.

In the 2012/12 budget the Federal Government announced a change in Capital Gains Tax calculations for non-residents.  In order to maintain CGT discount for ownership of property prior to the 8 May 2012 non-resident owners will require a market valuation as at this date. Refer page 31 of the budget should you require more information on this.

The housing construction industry is weak at the moment with approvals for new dwellings continuing in a downward trend since early this year,
especially for higher-density housing. This should pick up as population and demand grows and rents remain high. Rental vacancy rates have been around 2% since 2009, above very low levels seen in 2006-2008 but still low by historical standards. In Bondi we are unfortunately now experiencing medium to high vacancy levels, something we don’t usually experience until the middle of winter, not prior. Some of these tenants, though not a
majority, who have vacated have taken the plunge and purchased realising that it has been an opportune time to purchase.

In the real estate industry a lot has happened in the past month. Big news was that the Laing and Simmons group with 47 NSW offices was acquired by Canberra’s largest real estate company, Independent Property Group.

Also in the news, RUN Property and Agent Plus businesses has negotiated a sale to Rental Express Group for an estimated $65.4 million. RUN
manages around $10 billion in properties.

Competitive bidding at auctions on properties well situated in sought after locations, especially if they have some outdoor area, are close to transport and amenities and have parking are performing well. A testament to this is a 2bed, 1bath, 2car unrenovated apartment in popular Hall Street, Bondi Beach which had 26 bids at auction this week, with bidding  in increments of $5,000. It finally sold under the hammer for $885,000. An identical unit sold in the block 6 years ago for $700,000 so 26.5% growth isn’t too bad, in consideration of the state of the market. Also, just this week we sold a 3bed, 2bath 1car apartment at 12/2-14 Pacific St, Bronte for $1,430,000 and within one day of a one bedroom apartment being placed on the market we achieved an exceptional offer, again re-inforcing that the lower end of the market is continuing to peform particularly well. Apartments, Semis and houses under $1,500,000 are performing well. There is a different story for top end property’s whereby days on the market have increased considerably  and prices are down, therefore it’s an ideal time to be upgrading and I would be happy to assist in this regard, with apartments and houses available from $500,000 to $7,000,000.

Looking to buy, looking to sell, look no further –

Warmest regards,
Monique March, LREA
Sales Director
Mobile: 0416 022 334
Direct: 02 8362 4788
Office: 02 9130 1346
Fax: 02 8362 4777

Ideally Positioned Residence

Located in a highly sought-after locale and only moments from Earlwood shopping village, this immaculate three bedroom residence showcases character features and a flexible floor plan with the potential to further capitalize. This charming home also features an in-ground swimming pool and green house in rear yard.

• Three generous sized bedrooms
• Formal living area flowing to sun filled family living/dining room and well maintained gas kitchen
• Rear yard featuring undercover entertaining area with under house storage/wine cellar, in-ground swimming pool, green house and established garden
• Side driveway leading to lock-up garage with workshop area and ample off street parking for additional vehicles. Laundry with second shower and WC
• Conveniently posited moments stroll to Hughes Park, local amenities and transport all nearby

A sensational residence in a Blue Ribbon location, offering ample opportunity to make this property your dream home. Inspection is a definite must!

VIEW

Saturday 11.00-11.45pm

Wednesday 6.15-6.45pm

AUCTION

Saturday 2nd June, 2012

On Site at 11.30am

AGENT

Violet Mansour-Jamil 0411 578 003

Anthony Favorito 0404 050 334

Spacious Home with 18m Frontage

Nestled in a quiet cul-de-sac, this lovely three/four bedroom residence is set on 619.7sqm block boasting a flowing versatile floor plan with light and bright interiors and rear entertainment area.

• Three spacious bedrooms, all with mirrored built-in wardrobes
• Polished timber floorboards throughout and Solahart hot water heating
• Formal L-shaped living and dining area with A/C
• Large eat-in kitchen
• Sun-drenched family room plus office/playroom or fourth bedroom
• Side driveway to double lock-up garage and off street parking available for additional vehicles
• Rear yard showcasing established manicured gardens with peaceful alfresco entertaining/barbeque timber deck, ideal for entertaining or relaxing after a hard days work
• Conveniently located in close proximity to buses, schools, shops and parklands

A sensational family home with endless opportunities and potential, making this the perfect entry point into the property market.

VIEW

Saturday 12.00-12.45pm

Wednesday 5.30-6.00pm

AUCTION

Saturday 2nd June, 2012

On Site at 1.00pm

AGENT

Violet Mansour-Jamil 0411 578 003

Jim Nikolopoulos 0406 626 663

Renovators Delight

Conveniently located close to local amenities, this three bedroom residence is ripe for renovation and still retains character features throughout. A great investment opportunity boasting great potential.

• Three good sized bedrooms
• Ornate ceilings throughout most of the home
• Spacious living area flowing to dining room/sunroom
• Original kitchen and bathroom
• Large level yard with storage shed
• Car accommodation available for two vehicles
• Great main road exposure, ideal for many uses (STCA)
• Positioned close to Belfield shopping village, restaurants and cafes

Don’t delay, inspect today.

VIEW

Saturday 3.00-3.45pm

AUCTION

Saturday 2nd June, 2012

On Site at 3.30pm

AGENT

Violet Mansour-Jamil 0411 578 003

Jim Nikolopoulos 0406 626 663

Family Home or Ideal Investment

Situated in an elevated position with North facing yard, this level 619sqm block would make the ideal home or investment.

Upstairs Accommodation:

• 2 bedrooms
• Open plan living
• Modern kitchen and bathroom
• Balcony with City views
• Currently receiving a rental return of $410.00 per week

Downstairs Accommodation:

• 3 bedrooms and enclosed veranda that could be used as a study
• Open plan living flowing to patio overlooking a private level yard
• Updated kitchen
• Currently receiving a rental return of $360.00 per week

Corner location offering drive through access to yard and close to Earlwood shopping village and transport.

VIEW

Saturday 12.00-12.45pm

Wednesday 6.00-6.30pm

AUCTION

Saturday 19th May, 2012

On Site at 10.00am

AGENT

Anthony Favorito 0404 050 334

Jim Nikolopoulos 0406 626 663

Contemporary Living

Situated in a peaceful cul-de-sac, this recently renovated home offers a range of sophisticated contemporary additions creating spacious and light filled interiors whilst offering easy care and low maintenance living.

• Three generous sized bedrooms
• Spacious formal lounge room that could easily be converted to a fourth bedroom
• Spectacular designer quality kitchen with ceaserstone bench tops, stainless steel appliances, range hood and pantry
• Open plan family living and dining area with air conditioned comfort. Home offering polished floorboards throughout
• Rear yard offering alfresco entertaining and barbeque area with additional room for storage or possible study/teenage retreat
• Side driveway leading to single lock-up garage with walk-through to yard
• Positioned close to transport, schools and sporting fields. Within moments drive to Earlwood shopping village

Character filled home seamlessly combining period and modern additions to create this sensational family residence.

Auction: Saturday 26th May, 2012 On Site at 3.00pm

Modern Elegance

Be impressed by this two storey exquisitely appointed and contemporary designed home, showcasing stunning light filled vogue interiors and quality finishes. This home definitely does create a lasting impression as no expense has been spared in building this magnificent double brick family residence.

• Offering four bedrooms plus study with ensuite to the main, built-in wardrobe to main & second bedrooms with walk-in wardrobe and balcony to third and forth bedrooms
• Beautifully appointed gourmet granite timber kitchen with breakfast bar, quality SMEG stainless steel appliances, dishwasher and double pantry
• Open plan living and dining with a seamless indoor/outdoor flow to a private courtyard, alfresco entertaining areas and beautifully manicured gardens
• Double lock-up garage and additional storage room. Also featuring expansive internal laundry with storage space, ducted air conditioning and security features throughout the home
• Situated close to Earlwood shopping village, schools, parklands and transport

Positioned in a tree lined, sought-after street, this stunning masterpiece will definitely not disappoint!

Auction: Saturday 19th May, 2012 On Site at 3.00pm

Inspect: Saturday 1.00-1.45pm & Thursday 6.00-6.30pm

For further information, please contact Jim Nikolopoulos on 0406 626 663 or 9559 4644.

Convenient Living

For Sale – $319,000

Conveniently located on the corner of Myra Road, this low maintenance unit is neat and cosy and would make the perfect investment or ideal home for a professional or single couple.

• Spacious master bedroom
• Situated in a boutique block of only 6 units
• Ground level, security building with communal courtyard
• Updated kitchen with stainless steel appliances and gas cooking
• Polished timber floorboards throughout with internal laundry and updated bathroom
• Ideally positioned within a moments walk to buses and a short walk to shops and parklands. Train station also close by

This may be the perfect opportunity to purchase an easily maintained unit that offers the conveniences for today’s lifestyle.

Great Investment opportunity!

Contact Anthony Favorito for further information on 9559 4644 or 0404 050 334.

Invest & Rest

Beautifully presented and well maintained duplex in a quiet tree lined street that is bigger than a house.

• Three well sized bedrooms
• Separate lounge and dining
• Huge timber kitchen
• Enclosed sunroom overlooking a private yard with entertaining area
• Easy walk to schools and transport

Inspect by Appointment

Price: $620,000

For further information, please contact Anthony Favorito on 9555 4644 or 0404 050 334.