Home Loan Demand Interest Rates Stumbles Demand for home loans dived in The RBA shocked seemingly everyone this week with their decision not to raise January as the effect of three interest rates. Most economists expected that the Bank would lift the cash rate consecutive interest rates took its toll from 3.75% to 4.0% which would have resulted in standard variable mortgage on Australians borrowers. rates averaging about 6.9% (as long as the banks didn’t grab a little extra). Most of the economic news has been very positive of late however the ANZ Bank’s According to data from Loan Market survey of job advertisements across the major newspapers and internet found Group, home loan approvals dropped that job ads fell by 8.1% during January 2010. Business confidence figures also by 40 per cent from its peak in 2009 showed weakness with the NAB index recording a fall of 11 points during the quietest month since January 2006. month. "The three successive rate rises in the The real estate market continues to record a strong start to the year with higher final three months of 2009 definitely had than normal levels of property professional activity during January. Comparable an impact on homebuyers with the RBA Market Analysis activity remains at levels not seen at any time during 2009. This not putting rates up this month. Last activity is a great lead indicator for future listing activity and we would expect week, the Reserve Bank kept the cash listings to ramp up further during the next month based on this activity rate at 3.75 per cent, when most economists had expected a further 25 basis point increase. While there is still a possibility of rates Stock increasing in March, there is no need for a big rise in the cash rate over the Total properties listed for sale remain well below levels from 12 months ago. course of the year, as it could During the month to 17th January only 162,879 properties were listed for sale undermine confidence in the Australian compared to 197,668 at the same time last year. economy. Clearly there are fewer properties being re-listed but supply of new listings is The wind back in first home buyer also well down. The last month has seen just 15,286 new properties advertised stimulus has also had a stalling affect for sale, yet at the same time last year there was an additional 11,000 new on homebuyers. The government's properties advertised for sale. increased first homebuyers' grant ended on 31 December, returning to $7,000. Units a Higher Turnover Most home owners tend to ‘hold’ their property for at least five years, but in Latest Auction Clearance many suburbs and regions around Australia the hold periods are much shorter. A suburb’s hold period is the average time period between when a property is Auction markets are continuing to see purchased and when it is re-sold. Across Australia’s capital cities, the average activity levels grow with 306 auctions ‘hold period’ for houses ranges from just 4.5 years in Darwin up to 9.3 years in held during last week. Melbourne. The weighted clearance rate across the Units are typically held for a shorter period of time, ranging between 4 years in combined markets was 44 percent, with Darwin and 8 years in Melbourne. the largest auction market (Melbourne) recording a poor clearance rate of 39 percent across 74 auctions. Top 10 buyer do’s and don’ts to consider 1. Do not be scared to buy something because it feels right or you just love it. 2. Do not let friends, family or colleagues put you off or talk you out of a purchase. 3. Do not hand over any money unless you know it is to reputable party eg: Licensed agent or lawyer. 4. Do not be rude or upset the sellers as they will take it personally. Always be polite. 5. Do not turn up unannounced and do not expect everything to go smoothly. 6. Do have a Professional Independent Valuation. 7. Do have a Professional Building Inspection for the structure and pest infestation. 8. Do use a lawyer; this is too much money to risk without knowledgeable guidance. 9. Do not waste time, if you like it. Start the process promptly as sellers are more flexible with buyers that get things moving! 10. Do watch out for special deals and investor specials including lots of extras, because guess who is paying for those! Extract from Andrew Winter “Selling Houses Australia” 5 most important things to consider when selling your home 1. Your home is just another one ‘for sale’, expect to have to compete for a buyer. 2. Is your home looking its absolute best – could you not tidy / hideaway a few more things, clean a little more? 3. Go out when people come to view, you will just get in the way. 4. Do not sell secretly, always get a board up and ADVERTISE. 5. PRICE, be realistic. 99% of buyers never pay over the market value, so if you are asking over market value you will not sell. Extract from Andrew Winter “Selling Houses Australia” JOKE OF THE MONTH A YOUNG BUSINESSMAN A young businessman had just started his own firm. He rented a beautiful office and had it furnished with antiques. Sitting there, he saw a man come into the outer office. Wishing to appear the hot shot, the businessman picked up the phone and started to pretend he had a big deal working. He threw huge figures around and made giant commitments. Finally he hung up and asked the visitor, "Can I help you?" The man said, "Yeah, I've come to activate your phone lines." PROPERTY MANAGEMENT TEAM SALES TEAM Property Manager Jessica Kelly Property Consultants Emmanuel Voinot Property Officers Ashton Buchanan Brent Jones Dianne Haumu Sharon King Courtney Doolin Sales Co-ordinator Peta Hunt Holiday Manager Trish Colley/Nicole Schiller Principal/Licensee Mark Zwemer Commercial Manager Mark Zwemer/Seon Pierce SEXTON HILL UPGRADE LANDLORD INSURANCE We have recently seen an influx of workers working There are many insurance providers out there who now on the Sexton Hill Upgrade and also contractors offer tailor made insurance for property investors. The employed by Reed Group and Seymour White average yearly premium ranges from $280 to $360. Constructions for upgrades at local schools. We Most policies cover loss of rent, accidental damage, have relocated a number of families in to some of malicious damage, deliberate damage. Please give us a our furnished properties and are looking for more! call to organise insurance on your property today. HOT CROSS BUN RECIPE DUAL FLUSH TOILET REBATE 150ml milk, warmed 8g sachet dry yeast 1 teaspoon caster sugar 2 cups plain flour Single flush toilets are one if the biggest ½ teaspoon ground cinnamon 50g butter, chopped users of water in homes, using 12 litres 2 tablespoons caster sugar 1 cup milk chocolate chips of drinking water with every flush. Switch- 1 egg ing to a dual flush toilet can reduce this to four and half and three litre flushes and save households Crosses around 25,000 litres of water a year. 2 tablespoons plain flour 1 tablespoon cocoa powder 2 tablespoons water A $200 rebate is available to replace your old single flush toilet with a new 4 star dual flush toilet between Glaze ¼ cup water 2 tablespoons caster sugar Preheat oven to hot, 200°C. Lightly grease a 22cm square cake pan. In a medium jug, combine milk, yeast and sugar. Leave in a warm place for 5-10 CALENDAR minutes, until mixture is frothy. Sift flour and cinnamon into a large bowl. Using fingertips, rub in butter until March/April 2010 mixture resembles fine breadcrumbs. Stir through chocolate chips and sugar. Whisk egg into yeast mixture. Add to flour mixture and mix to soft dough. Turn onto lightly floured surface. Knead 10 minutes, until dough is smooth and elastic. Place in lightly greased bowl and cover with plastic wrap. Stand in a warm place for 40 minutes, or until doubled in size. Mid month accounting Monday 15 March Punch dough down once with fist to release gas. Knead lightly. Divide dough into End of month accounting Wednesday 31 March 32 equal pieces. Knead each piece until smooth. Shape into rounds. Arrange in Good Friday Friday 2 April pan. Cover with plastic wrap or a clean tea towel and stand 20 minutes, in a Easter Saturday Saturday 3 April warm place, until doubled in size. Easter Monday Monday 5 April Crosses: in a small bowl, mix flour, cocoa and water to create a smooth paste. Pipe crosses on buns. Bake 12-15 minutes, until they sound hollow when tapped. Mid month accounting Thursday 15 April Glaze: in a small saucepan, combine water and sugar. Stir over low heat for 2-3 Anzac Day Monday 26 April minutes, until sugar dissolves. Bring to boil, without stirring. Reduce heat and simmer 1-2 minutes, until mixture thickens slightly. Brush over hot buns. Transfer End on month accounting Friday 30 April to wire rack to cool Professionals Kingscliff & Cabarita Beach p (02) 6674 9000 email@example.com 110 Marine Parade PO Box 1432 f (02) 6674 3299 www.kingscliffprofessionals.com.au Kingscliff NSW 2487 Kingscliff NSW 2487 Kingscliff - 3/22 Moss Street For sale $985,000 Walking through the front door of this fabulous townhouse you will experience the tranquillity of coastal living. From entry, the townhouse flows effortlessly from room to room, enhancing the feel of spaciousness. To view click on link— http://www.kingscliffprofessionals.com.au/properties/375055/details Cudgen - 5/6 John Robb Way For sale $335,000 Located a 3 minute drive or 10 minute cycle to the beach (2.7km) Cudgen Heights is a small elevated village with a great community feel. This renovated townhouse features: To view click on link—http://www.kingscliffprofessionals.com.au/properties/375031/details Kingscliff - 3/184 Marine Parade For sale 875,000 Kingscliff Palms at 184 Marine Parade in Kingscliff offers everything you need when looking for quality beachfront living. This middle floor north side 3 bedroom 2 bathroom unit has great water views To view click on link—http://www.kingscliffprofessionals.com.au/properties/371099/details Kingscliff - 15 Boomerang Street For sale $695,000 Smack in the heart of Kingscliff and sitting on a 1018m2 block with a 2b medium density zoning, is a quaint renovated weatherboard cottage To view click on link—http://www.kingscliffprofessionals.com.au/properties/325822/details Kingscliff - 65 Vulcan Street For sale $895,000 Get the home you've always wanted before it's too late. With ocean and hinterland views all around, this home offers 2 levels of family living. With 5 good size bedrooms, the master bedroom has a WIR which you can access the main two way bathroom with spa . To view click on link—http://www.kingscliffprofessionals.com.au/properties/364730/details 110 Marine Parade Kingscliff NSW 2487 02 6674 9000 www.kingscliffprofessionals.com.au firstname.lastname@example.org DISCLAIMER: This newsletter has been prepared by Kingscliff Professionals and the information contained is of general nature only & is not intended to be specific advice. Every effort has been made to ensure the contents are accurate at time of publication. Professionals and their agents take no responsibility for any subsequent action that may arise from the use of this newsletter.
Pages to are hidden for
"Interest Rates Home Loan Demand Stumbles Stock Units a Higher"Please download to view full document