All the Gear and No Idea!

IMG_1999A common misconception in the Australian Property market is that Chinese property buyers have “all the gear and no idea”! As a general rule this couldn’t be further from the truth. Some popular urban myths about Chinese buyers are the following:

Chinese Buyers pay well above market: This was certainly the case some years ago when naive Chinese buyers were misled by Chinese intermediaries or agents who took high commissions from marked up sale prices. Continue reading

Sydney Market Update

IMG_0084The RP Data release this week shows Sydney houses prices dropped 2% in May. Not unexpected considering we have had 12 months of gains and the negative headwinds of press surrounding the debate over winners and losers in the Federal Budget. The Reserve Bank Governor Glen Stevens noted,“Dwelling prices have increased significantly over the past year, though there have been some signs of a moderation in the pace of increase recently.” Continue reading

Super Saturday

IMG_1025What a day in the Sydney residential property market. Around 1100 properties went under the hammer yesterday around 10% more than this time last year.

Early estimates of clearance rates were at a robust 78.1% and we have another 1200 properties to auction before the extended Easter holiday period. With motivated vendors and eager buyers agents will be kept very busy.

By Shane Clinton

Interest Rate Update

Declining Housing MarketOn the day when RP-Data announced house prices rose 3.5% across capital cities, with Sydney prices growing 4.4%, the Reserve Bank Board maintained a wait and see approach to domestic interest rates.

In announcing the official cash rate unchanged at 2.5%, the Governor Glen Stevens said, “Financial conditions overall remain very accommodative.” He went on in the release to to say that “On present indications, the most prudent course is likely to be a period of stability in interest rates.”
Continue reading

5 Tips for buying in a hot market

IMG_1228We have all heard how strong the current Sydney property market is and need look no further than the past 8 weeks of auction clearances above 80%. However stepping back from the market and running a critical eye over those results you will find that the hottest part of the market still remains in the $500,000 to $1,0000,000 property range. This is the sweet spot for investors, first home buyers and up traders and will continue to be strong for some time. Here are my 5 tips for purchasing in this hot sector.

1. Organise your finance and get pre-approval before you start viewing properties. A good broker will sit down and look at your cash flows and ability to pay. They will also source the best deal available from Banks and other lending institutions. Remember, “Relationship Banking”, is dead. With so many suites of lending products available on the market changing weekly, it might be worthwhile speaking to an expert to get the best deal and package for your circumstances. Continue reading

Sydney Hotspot

IMG_2033After the recent $9.0 m sale of a Federation mansion in Springdale Road Killara, investors have finally been altered to one of the hottest areas in Sydney. The Lower North Shore suburbs of Lindfiled and Killara are attracting plenty of interest from overseas and domestic buyers.

Beautiful Federation houses in quiet tree lined streets, close to rail and arterial roads only complement the proximity to schools like Killara High, Knox Grammar, Roseville College, PLC, Abbotsleigh and Brigidine College. Magnificent houses sit on large blocks many with tennis courts and the best range in price from $4.0m to $10m. Continue reading

Sydney Property Warning

imagesToday the Reserve Bank Governor Glen Stevens appeared before the House of Representative Committee on Economics for his bi-annual testimony. Ok stay with me here as we won’t be having an economics 101 lesson! But I will highlight a couple of important comments from his opening address and question time concerning the Sydney property market.

In his opening address to the Committee, the Governor stated, “It is clear that dwelling investment activity will rise strongly over the period ahead. Over the past three months, approvals to build private dwellings numbered almost 50,000. That is an increase of about 27 per cent from the figures of a year earlier, and is the highest three-month total in the 30-year history of this series.” A clear acknowledgement that lower interest rates have had the desired effect in spurring on the property sector. Continue reading

Interest Rate Update

Declining Housing MarketInterest Rates on hold, was the message delivered by the Reserve Bank of Australia Governor Glen Stevens after todays official meeting by the Central Bank. With official cash rates at record lows of 2.5% he indicated that he was not inclined to cut the cash rate from current levels and said, “on present indications, the most prudent course is likely to be a period of stability in interest rates”.

Stability in official interest rates is great news for home buyers  as interest rates on home loans should decline as competition drives in bank lending margins. It also should see 2 an 3 year fixed rates decline over the coming weeks. What a great way to start Autumn.

“By Shane Clinton”

Sydney Property Title

MCGE-4AVIEW-2013-02-04-14324046Sydney buyer agents like Buying Houses Australia frequently get questions about the different types of property title across the Sydney property market. Here’s a quick cheat sheet to help explain the 4 most prevalent titles:

Torrens Title: a single certificate of title for land and property on that land. It shows who owns the property and any easements on the property for things like water or gas pipes. The Torrens Title certificate also shows any encumbrances on the land and all the unique reference details of the title. Continue reading

Who wants an Investment Unit in their Christmas Stocking?

christmas-stockings2We all want a great little investment property in our Christmas stocking but getting the strategy right before you jump in is the key!

Investment property is in demand and it’s hot right now especially when the apartment ticks all the boxes. Highly sought after properties are in a 10km radius to the CBD, close to transport and the harbour foreshore. Apartments hit the market on a Saturday, first inspections open with swarms of people all keen to buy the fab art deco features and to secure a solid rental return in a very desirable location.

So as a buyer in this current climate you have a short window of buying opportunity. By the time you get around and negotiate the Sydney traffic, attend other viewings and stop for brunch the good buys will be already under contract. You need to move fast without being emotional or employ a buyers agent to work on your behalf. Continue reading