New South Wales
The Perfect Time to Go to Auction
Recent data released by the Real Estate Institute of New South Wales (REINSW) suggests that the best month to sell a property via auction is September.
Across the state 2,233 properties were reported as being up for auction in September 2012, with a clearance rate of 62 per cent.
“Spring is traditionally a time of renewal in the property market. People start shaking off the winter blues and turn their attention to property again,” said Rob Forde, Chief Executive Officer of real estate group, Harcourts New South Wales.
“The spring months allow vendors to show off their properties and ensure buyers finalise their property transactions well before the Christmas and New Year period,” Mr Forde added.
Although more properties were up for auction in April 2012 (2,241), fewer properties were sold with a clearance rate of 58 per cent.
Unsurprisingly, the figures showed the worst time of year to…
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New Homes Sales Improve
The number of new homes sold rose for the second straight month in November 2012 led by sales of detached houses.
According to a report released by the Housing Industry Association, new home sales rose 4.7 per cent in November.
Detached house sales rose 7.7 per cent while multi-unit sales fell by 6.9 per cent in November 2012.
“New home sales have posted the strongest back-to-back gains in almost three years. The recovery is largely driven by new state government grants that favour home building in preference to the purchase of existing homes,” said Rob Forde, Chief Executive Officer of real estate group, Harcourts New South Wales.
“Furthermore, housing affordability has improved due to interest rate cuts, the job market has remained resilient and budding home buyers appear to have more confidence to enter the market.
“It is promising to see new home sales moving in…
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Positive Start to 2013 for Harcourts NSW
Real estate group, Harcourts New South Wales has had a positive start to 2013 and CEO, Rob Forde has big plans for the group this year.
“Going into 2013 Harcourts will place a strong focus on recruitment, with the aim of bringing prominent and like-minded businesses and professionals on board so that the network can continue to expand throughout NSW.
“One of Harcourts’ core values is ‘people first’. Given this, we need the right people to join our group so we can work with them to not only improve our business, but to have an impact on the market overall,” Mr Forde said.
In terms of the property market, Mr Forde believes that growth will…
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Sydney Rental Market Tightens Further
Sydney’s rental market continues to tighten as investment conditions improve and stock levels decrease, suggests Rob Forde, Chief Executive Officer of real estate group, Harcourts New South Wales.
Recent figures released by the Real Estate Institute of NSW show that the vacancy rate is sitting at just 1.8 per cent across Sydney – well under the general equilibrium of 3 per cent.
The REINSW data also shows the outer suburbs of Sydney dropped the most with a decline of 0.6 per cent to 1.6 per cent total vacancy.
The inner suburbs (within a 10 kilometre radius of the CBD) went against the trend to rise 0.1 per cent to a total vacancy rate of 1.7 per cent.
In regional New South Wales, Albury holds the lowest vacancy rate of just 1.4 per cent, a drop of 0.2 per cent from October 2012.
Coffs Harbour saw…
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Two-Speed Market Emerges in Australia
A two-speed property market is emerging across Australia as investors return to housing but cautious owner-occupiers and first home buyers continue to stay on the sidelines.
Housing finance commitments grew by just 0.1 per cent to 46,477 in October, the Australian Bureau of Statistics reported earlier this month.
However, lending to investors rose 5.5 per cent to $7.7 billion in October, building on an 8.8 per cent increase in September – the strongest back-to-back gains in more than five years.
The amount borrowed by property investors has now increased by 21 per cent since the start of the year, making it the fastest growth rate since January 2008.
The proportion of owner-occupier loans issued to first home buyers fell from 19.4 per cent in September to 18.7 per cent in October. Nonetheless, the total number of loans by first home buyers hit its highest level since December…
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Are Your Tenants Happy Tenants?
When it comes to owning an investment property, landlords often have to work hard to attract quality tenants, suggests Rob Forde, Chief Executive Officer of Harcourts New South Wales.
“Happy tenants and happy landlords go hand-in-hand, and the relationship works best when both parties feel the arrangement is fair,” Mr Forde said.
“Generally, tenants want a property that is affordable and well-positioned which is well-maintained and properly managed, with sturdy fittings and fixtures.
“Landlords ultimately want a tenant who pays the rent on time and doesn’t damage the property or generate complaints from neighbours or the police,” Mr Forde said.
Mr Forde says that tenancies can often fall apart due to a lack of communication, which is generally the responsibility of the property manager.
“Managing the needs of the tenant and the landlord is a real balancing act for the property manager, and they need…
Tags: Harcourts New South Wales, investment properties, investors, landlords, Property Management, rent, Rob Forde, tenants