Market wrap Not everyone is looking to score a doer upper-er. As a matter of fact, buyers are now hunting for renovated homes – a stark contrast from the originals they were eager to get their hands on earlier in the year. But it’s not surprising, given the rising cost of building materials and trades…
The Weekly
Market wrap First home buyers, this one’s for you. The NSW government changed stamp duty law last week, giving first home buyers a choice — pay property transfer tax upfront like the old days, or choose to pay annually, as a yearly land tax on homes valued up to $1.5 million. While there are pros…
Market wrap While we’ve seen a drop in property prices during the recent thou-shall-not-speak-its-name (a la the economic downturn), it looks like the upper end of the property market is showing signs of stabilising after the dip that saw Sydney’s higher end values down 13.5 per cent from the high heights of 2021. The summer…
The budget. It’s a tough gig, creating opportunity while not further fuelling inflation. For property, the government is looking to increase availability of skilled immigration visas. That means more people, and therefore more property. The proposal to release more land to build up to one million new homes over five years could ease some of…
Retail is booming, demand continues Our area continues to attract more retail and more residential demand. There is no doubt the two go hand-in-hand. Shops, cafes, bars, and restaurants attract new buyers who appreciate a thriving village and community. The recent Woolworths upgrade is certainly more modern and well-stocked and there are a range of…
Be quick, Christmas is coming! We’re now in the run-up to Christmas, well at least for property. It generally takes a few weeks for a property to be listed, sold, and settlement is usually a couple of months after that. So, if you’re looking to buy or sell and be sorted by Christmas, you’ll need to get your skates on…call us! This weird weather…
Market Wrap So, rates up again. That’s the 6th month in a row. There is, however, is some good news here. It was only a 0.25% increase, rather than the 0.5% that’s been imposed over the last 4 months. Why good news? The half percent indicates that the RBA is taking a breather to see…
Spring forward this long weekend…. Market wrap First things first: Daylight Savings begins on Sunday. Spring forward, Fall back… The US hiked rates again last week, by 75 basis points, the third such increase in a row. The rates there are now 3-3.25%, and further increases to 4.25-4.5% are expected. The Fed remains very concerned…
Greening up… Whatever your views on royalty, and its relevance to modern Australia, the life of the Queen, and her 70 years on the throne, certainly provided inspiration here, as it did the worldover, culminating in yesterday’s day off. We’ve also enjoyed a little break of glorious weather! And what a wonderful day the inaugural…
Greener focus on the future… With rates having risen this large and fast there’s a good chance that the RBA is ahead of the inflation game by year end. A growing number of people think that’s a strong possibility. Basically, our inflation is part domestic (food prices courtesy of weather) and part global (supply chain…
Selling in Spring! Despite ongoing negative press, the market locally remains resilient. Our experience is that houses priced carefully, and well presented, are selling across all prices points. ttps://www.smh.com.au/property/news/sorry-home-owners-but-this-is-when-you-should-have-sold-your-house-20220825-p5bcog.html In recent weeks we’ve sold a range of houses, some arguably needing work, but in great settings, beautifully presented and offered at the right price point.…
Smashing Records… Records are close to being broken! Rain records that is… As of now we, in Sydney, are just 9mm short of 2 metres worth so far this year! The annual average is just 1213mm, so we’re well over that! The last time we cracked 2 metres was in 1963! The highest ever recorded…
Driving back to The Beaches the other day from The North Shore, I couldn’t help but notice the spectacular project – not everyone’s cup of tea, I know, with many environmental concerns – that is the new Mona Vale Road upgrade. It’s been delayed, by weather and Covid, but as you crest the hill, the…
There’s no doubt that our Villages are going to benefit, long term, from the big shift that emerged – during and post – the Covid Age. Avalon, Bilgola and Newport are now viewed as permanent options for buyers that would never have considered the area previously. It’s come about due to the profound changes to…
Well, “The Weekly” this week goes from the macro to the micro – stick with us… Rates up again…shouldn’t really surprise anyone. Australia’s unemployment rate fell to a nearly 50-year low in June, leading to expectations of a bigger-than-usual rate rise in August. And maybe in September, October, and November too. Inflation in Australia is…
Despite recent media focus on inflation, house prices falling and the rising cost of living, the decline in home ownership is not a recent phenomenon. It’s been a steady trajectory downwards for more than 20 years. It’s linked directly to rising house prices, where younger buyers are simply unable to enter the market. Interestingly, in…
Avalon attracted attention this week, for all the wrong reasons. On Tuesday’s weather report, with the second highest rainfall at 17mm. And coldest Sydney day so far this year. 11 degrees at Terrey Hills. Brrr… Climate extremes seem to be the new norm; so make sure that your home is ‘proofed’ as much as you…
Unfortunately, Covid just won’t go. Given the apparent increased virulence of the latest strain, Government suggests we all take care, and we notice that more and more people around the villages are resuming mask wearing in public areas. Well done. Let’s see this through together… Local stuff. If you’re looking to brighten up the walls…
The RBA Governor, Philip Lowe, gave a pretty clear interview on ABC-TV’s 7.30 Report during the week where he spelled out the case for higher interest rates by the end of this year. Whilst this might be good news for some, for others – particularly younger home owners with significant mortgages – it may well…
While we wait to see the flow on effects of the interest rate rises and its impact on the housing market, I am happy to report that the rental market on the Northern Beaches (in particular our part of it) has never been so strong. Our property management team is going gang-busters. Led by Sienna…