The property market appears to be off to a solid start for 2012!
One of our first open for inspections for the year enjoyed a total of 44 groups through a single 30 minute open with a number of other agents around Sydney & Australia suggesting they have started 2012 with similar enthusiasm.

With interest rates falling by 50 basis points at the end of 2011 we anticipate that with the early positive signals there should be a solid selling period during the first quarter of 2012 and the traditional seasonal factors to follow with the typical gentle slowing of the market over winter & spike in Spring. Reducing interest rates will keep buyers motivated and searching for the right property while soft economic data will ensure most remain wary of overextending. We believe buyers will continue their trend of last year of completing lengthy due diligence before submitting an offer. Due to this smart sellers will ensure they commence any sale campaign with the best planning, appearance and price point to attract interest. There is great opportunity for those looking to upgrade in the present market and we see this sector as being a key driver of the market in 2012.

Reviewing the market last year, the market in our area certainly had an interesting journey with both buyers & sellers choosing to pause to get their bearing with a few periods of uncertainty spread throughout the year. Despite any uncertainty we also enjoyed a record March – our strongest in 16 years and a very solid finish to the year!

We look forward to reporting on the market this year. If you’re interested in having a more detailed discussion, or some assistance in planning your property goals – please don’t hesitate to contact our experienced team.

Having a deeper understanding of market movements can provide more flexibility and attractive selling strategies. We look forward to hearing from you when you’re ready!

Tim Wirth & 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

4.02.12

tim

No Comments »

With Summer fast approaching there is a definite benefit to securing a home over the coming weeks to enjoy the opportunity of a pre-Christmas settlement & the full Summer lifestyle.

Tennis Court and House at 15 Gurney Crescent

See yourself as a Waterfront Enthusiast, Talk to Glen Wirth about some of the wonderful lifestyle opportunities that we have available in Seaforth & Clontarf.

If you like the idea of having private Beach access then take a look at 13 Amiens Road Clontarf with access from the home directly down to the beach below.

Enjoy Beach Access from 13 Amiens Road

With a selection of lifestyle properties for sale both actively & quietly on the market, feel free to call our team on 9948 7080 to discuss what your own lifestyle preferences are!

24.10.11

tim

No Comments »

In researching for this post we came across an interesting fact that around 6,000 people move home in Australia every day.

From our experience working with daily with people moving either short or long distances - this can be a stressful experience, especially for those moving from their well loved family home of 10, 20, 30 or 40+ years, but a few simple tips can help the whole process run smoothly.

Preparation is the main key! To help the huge operation to run smoothly, here are the basic points to cover before, during and after your move:

• Prepare a plan for the ‘moving day’ and be organised as possible.

• Ask around for a recommended removalist, and ask good questions such as the number of years they have been operating, as this reflects their experience – we can help you with this!

• Take time to review your quotes prior to signing any documents.

• Consider a relocation consultant, especially if moving over a large distance and advise of all local community information such as schools, hospitals, transport.

• Book in a date as soon as you know, leaving a window if possible of a few days either side of settlement, in case there is some delays.

• It is wise to say ‘yes’ to insurance. Most home and contents policies don’t include a move.

• Agree to payment terms with your removalist prior to removal.

• Decide on what will be packed professionally and what you can do yourself.

• Know which items you will need to place in storage and always ask how your goods will be stored.

• Have everything ready to be moved when the removalist arrives.

• Check instructions before moving appliances.

• Label all boxes and items clearly, maybe use a colour code system for each room.

• Keep jewellery & passports and anything important or sentimental secure.

• Consider a locksmith to change the new locks, so you are secure from day one.

• Ensure someone, if you are unable to be there, is at the new property to take delivery of your goods.

• Ensure cleaning products are the first to arrive, or arrive with you so you can get started straight away or have a professional cleaner organised and to be finished before your moving day.

• Take time to make sure everything is accounted for before signing off.

• Welcome and enjoy your new home!

For more helpful information on the moving process, give us a call on 9948 7080!

24.09.11

tim

No Comments »

After a hesitant start to the year, we found that the sales activity in our area started to pick up in March and although the average days on the market has extended out slightly properties are still trading relatively well throughout the area. 

There is no doubt the reason for the increased momentum is a balance between genuine sellers reacting to the mood of the market and in many cases adjusting their price expectations while buyers have been prepared to move forward with realistic offers, rather than simply looking for a bargain.

There is always an interesting period when the property market shifts, whether this trend is up or down. If moving up, it is buyers that need to react quickly or continually miss out on property. Conversely, when conditions soften it is sellers who need to re-adjust quickly to attract buyers and secure a sale. We are currently moving back into a balanced market where the purchasers that try to play hardball are often missing out with another buyer coming over the top. By the same token vendors who choose to ignore the market feedback are discovering the only variable moving up is their days on market.

With some new goal posts being created both vendors & purchasers seem to have found their feet again. We are seeing a sign of confidence by purchasers willing to purchase before having sold, but this is balanced out by settlement periods often extending out from the standard 42 days – to 60 &90 day settlements. This shows a balance of optimism that they will be able to sell their own home mixed with the realism that currently days on market are a little longer than we have seen in past markets.

With the Australian Dollar still sitting high & above parity with the US, we are seeing mainly domestic purchaser activity. There has been some movement from overseas buyers, but the majority seem are prepared to wait for the exchange rates to return back closer to their historical average before bringing funds into the country to purchase. Many are expecting that their delay maybe quite some time.

Reviewing economic news & data released recently – there has been conflicting commentary on the likely trend of interest rates over the course of 2011. Many are predicting interest rates to stay on hold for a while longer with a potential increase in late 2011.

Comparing our area to the current Sydney median house price, which now sits around $625,000. A little different to Seaforth $1,342,000, Balgowlah $1,250,000, Balgowlah Heights $1,710,000, Clontarf $2,400,000, Fairlight $1,255,000 and North Balgowlah $1,100,000.

As always the current market trends present opportunities for both buyers & sellers – if you would like to develop a greater understanding of what is happening in the market at your specific price point feel free to give our office a call on 9948 7080.

Wishing you all the best in achieving your property goals,

Tim Wirth and 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*

24.06.11

tim

No Comments »

The past month has seen a significant improvement across all price levels of our local market. With both supply & demand building over the past month with the Spring selling season just germinating, it appears that the market is going to continue to build momentum over the coming Quarter.

Over the winter months we saw the typical drop in competition for many properties, however there were still a number of strong sales being made particularly at the lower end of the market.

Due to this lack of enthusiasm at the top end of the market, a number of prestige properties were withdrawn from the market and had been sitting dormant waiting for the election to pass. With the election day (and now process) out of the way – there has been a flurry of new properties coming to the market in the last week of August & this is likely to continue as confidence builds along with the Spring momentum.

Economic data released during the past two months has provided mixed messages with the Consumer Sentiment Index recording a surge, suggesting a general upbeat view of the economy. Despite ongoing financial market volatility & some international uncertainty.

As always these market trends present opportunities for both buyers & seller

23.03.11

tim

No Comments »

Most home owners think that renovating or extending their property will increase their net gain when they do eventually sell, however research has shown it is often cheaper to sell the property and buy another.
 
Whether you renovate or extend, it is not always a cost effective way to improve your standard of living or accommodate that new family member. The arithmetic is not as simple as original value plus the cost of the extension equals final selling price. There are many more factors to consider when giving the valuation to the renovated house. The fluctuating property market will also mean that a house worth a certain amount one month could be worth a different amount the next. Therefore it is important to consult your agent about the peak seasons and best time to sell for your property.

Before going ahead home owners should consider the recent sales price of comparable properties being achieved for houses within their area. However beware of going by the advertised price, always follow through to see what the property actually sold for. Factors including being positioned on a corner block, a busy main road, having a south facing backyard, a sloping block or no lawn at all or even the materials used and quality of the structure of your home are all examples of characteristics that could potentially decrease the value of your property. It is important to do your research and be wary of these types of potentially damaging factors, as some you will be able to change – like the sloping block, where as others are a constant challenge – like being positioned on a busy main road.

Once you have received reliable quotes for the cost of your extensions, you are then in a position to put your equation together. By estimating the reasonable selling price of your home post renovations, and working out whether you believe it to be more than the original plus the quoted cost of the renovations to be done.

 Above all make sure you don’t end up with the best house in the street or the surrounding properties will negatively affect yours. Alternatively, if you’re not feeling confident about your renovation objectives it is often easier to save yourself the time and energy and upgrade to another property instead of renovating.

We are only a phone call away if you would like some advaice on what is the right choice for you.

Wishing you all the best in achieving your property goals,

 
The Team at Richardson & Wrench Seaforth Balgowlah.

15.10.10

tim

No Comments »

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.
.
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

tim

No Comments »

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

tim

No Comments »

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.

.

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

tim

No Comments »

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.

.

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

tim

No Comments »