According to research by Australian Property Monitor’s, investors are now completely filling the gap created by the first home buyers  after the grant reductions at the end of last year.
 

APM’s most recent Quarterly Housing Report – Australia recorded solid house price growth over the June quarter as investor activity mitigated the fall in demand from owner occupiers and first home buyers.

APM’s economist Matthew Bell said the positive results came as a surprise, particularly given the six interest rates rises in recent months.

 
“Most markets around the country saw modest growth for the quarter, contributing to the continuing high year-on-year figures,” Mr Bell said.

 
In what was the fifth consecutive quarter of house price rises for Sydney, house prices increased by just over 2 per cent and unit prices were up by almost 3 per cent, pushing annual growth to over 13 per cent – well above the long-term trend.

 
The current Sydney median house price now sits above $625,000. A little different to Seaforth $1,320,000, Balgowlah $1,124,000, Balgowlah Heights $1,690,000, Clontarf $2,420,000, Fairlight $1,150,000, North Balgowlah $1,100,000.

 
“APM expects further price growth moderation in the next three to six months as the low levels of housing finance and the risk of further rate increases weigh on the market. However, the medium-to-long-term outlook for property prices remains strong, and we expect the 2010 annual rate of national house price growth to settle in the eight to 10 per cent range,” said Mr Bell.

 
On the local front we are continuing to sell through the traditionally quiet winter with Glen Wirth & Michael Buckley today selling 29 Ernest Street, Balgowlah Heights prior to its scheduled auction on the 7th of August.

 
Wishing you all the best in your property search,

 
The Team at Richardson & Wrench Seaforth Balgowlah.
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See you at the open for inspections: Click Here for our open times
To keep an eye on this week’s reported Seaforth real estate, Clontarf real estate, Balgowlah real estate, Balgowlah Heights real estate and North Balgowlah real estate Click Here*
*Sales are as reported by Australian Property monitors on 30/7/2010

30.07.10

Tags: 29 Ernest Street Balgowlah Heights, Australian Housing market, Australian Property monitors, Balgowlah, Balgowlah Heights, Balgowlah Heights real estate, Balgowlah real estate, Clontarf, Clontarf real estate, Glen Wirth, Matthew Bell, Michael Buckley, North Balgowlah, North Balgowlah real estate, R&W Seaforth, Richardson & Wrench Seaforth Balgowlah, Seaforth, Seaforth real estate  •  

Posted in Real News

We seem to be a nation that likes to find reasons to procrastinate – we have the race that stops a nation (looking forward to Melbourne Cup already) and we are renown for delaying decisions during a Federal election. However Julia Gillard’s decision to hold the election early – still during her honeymoon popularity period may be the best thing she could have done for the property market.

 
With the election being held on the 21st of August, although this may add a small procrastination period to the usual Winter chill that often comes over the market at this time of year, it will provide an uninterrupted selling platform between late August & Christmas.

At R&W we are currently choosing to hold back a number of prestige listings until August – however if you’re in decision making / purchase mode now, please give Glen or Tim Wirth a call on 9948 7080 for a discussion on your exact requirements and what will be appearing on the market in coming weeks.

Reading the Telegraph this morning there was a small article titled “Doonas off soon”, regarding yesterdays Bureau of Meteorology announcement that warm conditions in adjacent oceans were going to soon cause a temperature spike with Spring arriving early this year.

So with an early election & warm weather on its way – we are looking forward to a strong Spring selling season.

As is always the case different market segments move differently & depending on which segment you are buying or selling in, the team at Richardson & Wrench Seaforth are always happy to guide you on how best to achieve your property goals.

Looking forward to hearing from you or seeing you at an open this weekend.
Wishing you all the best in your property search,

The Team at Richardson & Wrench Seaforth Balgowlah.
.
See you at the open for inspections: Click Here for our open times
To keep an eye on this week’s reported Seaforth real estate, Clontarf real estate, Balgowlah real estate, Balgowlah Heights real estate and North Balgowlah real estate Click Here*
*Sales are as reported by Australian Property monitors on 21/7/2010

23.07.10

Tags: Australian Property monitors, Balgowlah, Balgowlah Heights, Balgowlah Heights real estate, Balgowlah real estate, Bureau of Meteorology, Clontarf, Clontarf real estate, Federal election, Julia Gillard, North Balgowlah, North Balgowlah real estate, property market, R&W, Richardson & Wrench Seaforth, Richardson & Wrench Seaforth Balgowlah, Seaforth, Seaforth real estate, Tim Wirth  •  

Posted in Real News

It’s good to have some positive property news!  With the number of home loans issued, rising for the first time in eight months during May with the increase being attributed to investment property loans – particularly in the lower end of the market.

Some property commentators are predicting this increase to be short lived and that interest rates are likely to climb again in the coming months.

Smh.com.au ran a poll this week looking at the public’s view of the present market.

Here are the results:

- 50% of respondents suggested the market was in retreat and sellers outweigh buyers and prices are on the slide

- 30% of respondents suggested the market was flat/neutral with buyers roughly matching sellers

- 20% of respondents suggested the market was still buoyant with buyers exceeding sellers and prices were on the rise.

At R&W Seaforth we are still experiencing strong enquiry and attendance at open homes in lower price brackets. As we move up through the price ranges we are seeing the traditional slow down for Winter & expect that enquiry levels will continue to move as they traditionally do in August.

As always these market trends present opportunities for both buyers & seller – if you would like to develop a greater understanding of what is happening in the market feel free to give our team a call on 9948 7080.

Wishing you all the best in your  property goals,

The Team at Richardson & Wrench Seaforth Balgowlah.

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See you at the open for inspections: Click Here for our open times

To keep an eye on this week’s reported Seaforth real estate, Clontarf real estate, Balgowlah real estate, Balgowlah Heights real estate and North Balgowlah real estate Click Here*

*Sales are as reported by Australian Property monitors on 16/07/2010

16.07.10

Tags: Australian Property monitors, Balgowlah, Balgowlah Heights, Balgowlah Heights real estate, Balgowlah real estate, Clontarf, Clontarf real estate, market trends, North Balgowlah, North Balgowlah real estate, R&W Seaforth, Richardson & Wrench Seaforth Balgowlah, Seaforth, Seaforth real estate  •  

Posted in Real News

After a couple of weeks rest in the Northern Hemisphere escaping winter and the rain, the R&W blog is back in action!

Many of you will be experiencing school holidays and we hope that you have many activities planned in this very wet weather!

As mentioned in our early June post – we saw a change in the market in late May – we are now seeing buyers & sellers adjusting to the new conditions and the Northern Beaches property market  is now gaining greater comfort and an additional understanding of the new more balanced market place.

Following the stabilisation of interest rates in June & July, the question on many people’s lips – is will we see a continued pause or another increase during the election campaign?

Time tells all things  – Harry Triguboff of Meriton Apartments has suggested again this week that Australia’s property shortage will not be properly addressed until interest rates fall again, if this is the case then it maybe some time before it will be addressed.

Looking at the most recently released economic data – The Australian economy is emanating mixed signals at present, ensuring that the Reserve Bank will stay on the interest rate sidelines for another month.

Some are asking if the current sovereign debt problems afflicting Greece and Portugal – could create a GFC Mark II. In reality the main risk that this creates is pessimism, which often becomes self-perpetuating.

Reading into Macquarie Banks recent comments regarding the property market losing momentum…  “Like an in-form thoroughbred, the Australian economy enters the second half of 2010 in good shape, but is likely to be carrying much more lead in the saddle-bags as it heads into 2011. This principally reflects the impact of higher interest rates on household spending, as well as the gradual withdrawal of fiscal stimulus. Business confidence has been shaken by the impasse between the government and resource firms over mining taxation. And while that has now been resolved, confidence could continue to be undermined by other concerns, such as ongoing sovereign risk issues in the peripheral European economies and significant global financial market volatility. While we are ultimately optimistic that bullish investment plans will be realised, the transition from consumer and government-led growth to investment-led growth could be rocky, and is likely to be consistent with slower growth overall.”

We don’t see anything unusual in the annual pattern that generally see’s a slowdown with the inclement weather.  Active buyers will be aware of the low numbers common for this time of year – as always certain segments of the market are a lot stronger than others.

This week we have enjoyed a very strong response to the property at 12 Daisy Street North Balgowlah – after bidding started to stall in the early $900,000’s another wave of enthusiastic bidding took the final result to $1,022,000!

Also this week Maria Cassarino set a new Street Record for Illalong Avenue in North Balgowlah,  selling number 5 which sold prior to auction for $1.875 Million! Making it the second highest residential sale achieved in North Balgowlah!!

We appreciate that there is conflicting information out there to prospective vendors and buyers and  a lot of industry jargon! This compiled with the end of the financial year can leave you with questions still remaining unanswered for your own property goals and real estate needs.

Therefore we will are offering a confidential FREE No Obligation – End of Financial Year Property Market Update to anyone who has any further questions about their property or the market in general. If this is of interest or you have any further questions – please give us a call  at the office 9948 7080 or drop in and say hi and meet the team!

Wishing you all the best in your  property goals,

The Team at Richardson & Wrench Seaforth Balgowlah.

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See you at the open for inspections: Click Here for our open times

To keep an eye on this week’s reported Seaforth real estate, Clontarf real estate, Balgowlah real estate, Balgowlah Heights real estate and North Balgowlah real estate Click Here*

*Sales are as reported by Australian Property monitors on 8/07/2010

9.07.10

Tags: 12 Daisy Street North Balgowlah, 5 Illalong Avenue North Balgowlah, Australian economy, Australian Property monitors, Australia’s property shortage, Balgowlah, Balgowlah Heights, Balgowlah Heights real estate, Balgowlah real estate, Clontarf, Clontarf real estate, Daisy Street, Harry Triguboff, interest rates, Macquarie Banks, Maria Cassarino, Meriton Apartments, North Balgowlah, North Balgowlah real estate, R&W blog, Richardson & Wrench Seaforth Balgowlah, Seaforth, Seaforth real estate  •  

Posted in Real News