Wishing you all the best for the ANZAC long weekend!

In recent weeks the media have found a new ‘favourite’ topic associated with predictions of major population growth in the coming decades for Sydney & Australia in general.

What we have found interesting is the recent reports that Manly & the North East area of Sydney are predicted to experience the lowest growth rate. According to the Department of Planning, the population growth in Manly over the next 26 years is expected to be lower than almost every other part of Sydney, as reported in yesterday’s Manly Daily (22/4/10) “Projected Population Growth Low” by John Morcombe.

Manly’s current population is 41,200 and is expected to grow to 46,600 by 2036 or 13.1% while  South West Sydney is expected to increase by 113% and North West Sydney increasing by 52%.

Pittwater & Warringah council are expected to increase by around 18% – still substantially lower than the Sydney average.

Warringah are currently planning a community forum “Talk of the Town 2010 Community Summit” on the 23rd of May to start developing a plan for Warringah’s Housing Future to cater for the significant growth expected. Have your say on how an extra 10,300 dwellings should be incorporated in to the Warringah area – register here.

Till we meet again, wishing you all the best in your property search!

The Team at R&W 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 22/04/2010

23.04.10

Tags: Australian Property monitors, Balgowlah, Balgowlah Heights, Balgowlah Heights real estate, Balgowlah real estate, Clontarf, Clontarf real estate, Department of Planning, John Morcombe, Manly, Manly Daily, North Balgowlah, North Balgowlah real estate, Pittwater, population, population growth, population growth in Manly, Projected Population Growth Low, Seaforth, Seaforth real estate, Sydney, Talk of the Town 2010 Community Summit, Warringah, Warringah Council, Warringah’s Housing Future  •  

Posted in Real News

First & foremost – Happy Easter from the team at Richardson & Wrench Seaforth (R&W)

Looking through the long weekend with the economic data at hand it would appear a safe bet that interest rates will continue the upward trend next Tuesday with the markets pricing a better then 60% chance of an increase.

The rate increase curve may be levelling out as we move back to the neutral cash rate. Last week Assistant Governor of the Reserve Bank of Australia (RBA), Philip Lowe has stated that the underlying inflation has “moderated significantly” and is expected to decline from 3.25 per cent to about 2.5 per cent during 2010.

Dr Lowe has reinforced that the central bank’s view that the Australian economy had “relatively limited spare capacity” and that it was likely interest rates would move towards “more normal” levels.

Depending on who you listen to we may be looking at another 3 interest rate increases over 2010 (up a total of 75 basis points) if you take the Commonwealth Bank (CBA) suggestion then the rate increases could be a more aggressive with 5 increases up a total of 125 basis points.

RBA Governor Glen Stevens, stated this week that house prices are “getting quite high” and suggested that interest rates may need to be increased further to contain inflation.

On the coal face we have seen buyers factoring in interest rates, returning to historical levels since the economy started to turn around last year. So the strong demand we feel will continue as interest rates increase as there should be no surprises as to what is happening.

We feel that if the variable interest rates move above 7.5% then we will see interest rates having an impact and providing downward pressure on the local housing market. In the past we have seen other parts of Sydney show signs of housing slowing before there is any noticeable impact on the Northern Beaches. Looking across Sydney we are not seeing signs of the market cooling off with auction clearance rates sitting around 70%, the market is looking quite solid.

First & foremost – Happy Easter from the team at Richardson & Wrench Seaforth (R&W)

As shown in the above diagram while auction clearance rates sit substantially over 50% then the market should continue to move strongly.

Over the past month we have seen an increase in the number of homes selling within the first week on the market, selling off our database previews before moving to a more aggressive marketing campaign. Talking to a number of buyers this week the frustration has been building as our database keeps growing at a much faster rate than properties are selling. With a number of new listings hitting the market after Easter we hope to be able to satisfy some of the current demand.

We look forward to your posts on the blog with any additional thoughts & comments from our readers.

Please feel free to email us if you have any further questions about the market or real estate in general – it would be great to hear from you.

Till we meet again, wishing you all the best in your property search!

The Team at R&W 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 1/04/2010

1.04.10

Tags: Auction, auction clearance rates, Australian economy, Australian Property monitors, Balgowlah, Balgowlah Heights, Balgowlah Heights real estate, Balgowlah real estate, CBA, central bank, Clontarf, Clontarf real estate, Glen Stevens, Governor Glen Stevens, Happy Easter, inflation, interest rates, local housing market, neutral cash rate, North Balgowlah, North Balgowlah real estate, Northern Beaches, Philip Lowe, property search, R&W, R&W Seaforth/Balgowlah, RBA, Reserve Bank of Australia, Richardson & Wrench, Richardson & Wrench Seaforth, Seaforth, Seaforth real estate, Sydney, underlying inflation, Variable interest rates  •  

Posted in Real News

Manly, One of the first seaside resorts to allow daylight swimming and surfing back in 1903, Manly offers the unique combination of wide ocean beaches on one side and serene sandy harbour coves and inlets on the other.

Try the oceanside surfing beaches and coves of Manly for active water sports: surfing, windsurfing, parasailing, snorkelling and scuba diving. Or simply sunbathe, take a dip in one of the saltwater swimming pools or swim off the patrolled beaches.

For a different beach experience enjoy the sheltered sandy beach and gentle waves of Manly Cove, on the harbour side right next to the Wharf – ideal for family picnics, sailing, fishing, building sandcastles or just relax in the sun.

Join the visitors and locals on the long beachfront promenade and cycleways to stroll, jog, rollerblade or bike ride.

For safety in the surf you should only swim between the red and yellow flags which mark the safest swimming areas. Manly’s beaches are patrolled all year round by lifeguards.

Warringah, Home to some of Sydney’s most scenic coastline and cleanest beaches. There are nine patrolled beaches covering 185 hectares of sand, forshore, dunes, lagoons and bluffs, and six rockpools.

Over many years Warringah’s beaches have played host to a number of national and international surfing championships and have since gained a reputation for being among the top surfing beaches in the world.

Beaches Include:

Collaroy
Dee Why
Freshwater
Long Reef
Narrabeen
North Curl Curl
North Narrabeen
South Curl Curl
South Narrabeen

These beaches are patrolled weekend and public holidays by lifeguards and volunteers and Monday to Friday by lifeguards from October to late April.

During the summer school holidays – these beaches are patrolled seven days a week by professional lifeguards and also volunteers on the weekends and public holidays.

29.12.09

Tags: Beaches, Cleanest Beaches, Collaroy, Dee Why, Freshwater, Harbour, Harbour Coves, home, Lifeguards, Long Reef, Manly, Manly Beach, Manly Cove, Manly's Beaches, Narrabeen, North Curl Curl, North Narrabeen, Ocean Beaches, Scenic Coastline, South Curl Curl, South Narrabeen, Surfing Beaches, Sydney, Warringah, Warringah's Beaches  •  

Posted in Local News & Events