Tag Archives: property
Swan Valley Realty News: Ellenbrook Bus Rapid Transit (EBRT) Way overview
Ladies Night Market in the beautiful surrounds of The Vines Resort
FREE BOOK
Movies at Ellenbrook
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ANOTHER Marvelous Marvel Movie – indoor theatre with outdoor and indoor pre-show entertainment.
Snacks, popcorn, and drinks available – movie ticket gets you a free kids pizza at CRUST GOURMET.
4:30 pm – entertainment starts
5:30 pm – movie starts -
New primary school in Annie’s Landing
LWP Property Group were out at Annie’s Landing, Ellenbrook this week and have posted these photos on their Facebook page stating that “the new primary school is really starting to take shape, which is super exciting to see. It is due to be opened in time for Term 1 next year”
Ellenbrook leads way
SALES
In the four weeks to September 7 local property sales are at 106 across land, units and houses. This represents a lift of 3 per cent over this period. Compared to the same time last year, sales have increased by 26 per cent. In the overall market sales are up 8 per cent for the four week period. Ellenbrook tops the list for the highest number of sales at 36. Properties available for sale have increased by 18 per cent over the last four weeks and are 49 per cent higher than the same time last year. Total listings in the Perth Metro Region are up 3 per cent in the four weeks but remain 36 per cent above the same time last year. The average time to sell in the local area has increased for the 3 months to August 2015 by 20 days to 84 days from 64 days at the same time last year.
Quarterly data suggests favourable interest rate outlook
The following post is taken from REIWA.com
25 July 2015
According to the Real Estate Institute of Australia (REIA), the 2015 June quarter Consumer Price Index (CPI) figures support the Reserve Bank of Australia’s (RBA) July assessment that inflationary pressures are well contained and likely to remain this way.
REIA President Neville Sanders said this was good news for home owners and should translate into a sustained period of low interest rates.
“In the June quarter, the CPI rose by 0.7 per cent and an annual rate of 1.5 per cent. These figures are below the RBA’s target zone of two to three per cent and should not put pressure on the interest rate outlook.
“The annual changes for the analytical series of trimmed mean and for the weighted median were 2.2 per cent and 2.4 per cent respectively, and compare to the changes for the 12 months to the March quarter 2015 of 2.3 per cent for the trimmed mean and 2.5 per cent for the weighted median,” Mr Sanders said.
The housing group increased by 0.7 per cent for the June quarter and an annual rate of increase of 2.5 per cent.
The main increases in the June quarter for the housing group was for new dwelling purchases, which increased by 4.8 per cent, while rents increased by 0.4 per cent for the quarter and 1.9 per cent for the year.
“With inflation under control, combined with a slowdown in housing finance, it’s reasonable to expect that the RBA will not be increasing interest rates in the medium term, providing a stable outlook for home buyers,” Mr Sanders said.
What is a buyer home inspection?
The following article is taken from Realestate.com.au website
09 JUN 2015
You’ve found a home you like and are waiting at the door. Now what?
A buyer’s first inspection of a prospective property is kind of like going on a blind date. You have almost certainly seen some photos (always showing the home in its most flattering light) but will likely have many unanswered questions.
Will you ‘click’? Will it meet your non-negotiable criteria? What will it look like? Has it had a hard life? Will its internal wall colours make you cringe – or make you smile?
What is the point of a buyer inspection?
Independent buyer’s agent Catherine Cashmore says a property inspection is a golden opportunity to educate yourself about the bricks and mortar before you spend hundreds of thousands of dollars buying it.
She strongly advises all buyers inspect prospective homes or investments more than twice if planning to purchase.
Often a property looks great online or in a glossy brochure but as soon as you pull up at the curb you know it is not ‘the one’. Perhaps it backs a smelly industrial site or is next to a busy, noisy road? Perhaps its bedrooms are too small for your double beds?
You simply cannot know some things unless you have visited the site in person.
Photos can be illusive, so always make time for an inspection.
“Remember, the property is being presented for ‘sale’ so any visible flaws will be covered over,” Cashmore says. “For example, a dab of fresh paint can obscure cracks in the wall or careful placing of furniture can divert your eye away from possible defects.”
Cashmore strongly cautions against buying property without walking through it. “Whether a buyer or investor, do not purchase a property sight unseen,” she says.
“At the least, make sure an independent buyer advocate that you have paid and works for you inspects the home on your behalf. Photos can be illusive and you leave yourself open to the potential of buying a dud that’s impossible to sell on if you buy sight unseen. Don’t do it.”
Inspect and save: Could a property inspection save you thousands?
What should you look for?
Everything that determines if this is somewhere you or future tenants want to live. But don’t let groovy cushion covers sway you. This is your chance to probe this property, to measure, to push and to pull.
- Does everything open and shut?
- Do lights turn on and off without flickering?
- Do taps work and is the water flow adequate?
- Are there signs of water damage (i.e. peeling or bubbled paint work, mould, stained ceilings)?
- Do doors close smoothly or stick?
- Walk around the edge of each room and look up as well as down to gauge dimensions
- Walk around the outside of the property to check fences and the condition of the building’s exterior including gutters and down-pipes
Ignore the furniture and decor – take a tape measure with you and measure the bedrooms.
“Often hired furniture is smaller than real furniture and can obscure a room’s size,” Cashmore reveals. “Bedrooms need to be at least 3m x 3m in size – otherwise the room is a ‘study’ not a bedroom.”
Ignore the furniture and decor – turn your attention to floorspace.
Common missteps: 7 first home buyer mistakes
Ask lots and lots of questions
Buyers should try and arrange a time with the agent to visit the home on a private inspection.
Use this access to find out why the vendor is selling and ask questions that will help you work out the real value of the property.
Questions to ask yourself may include:
- Can I live with the floor plan?
- Is the toilet at the rear of the home too far from the bedrooms?
- Do the bedrooms run off the living area and be affected by television noise at night?
- Is the home going to adequately cater for my needs over the next seven to 10 years?
- Can I extend the property if I outgrow the home?
“When attending an open for inspection, it’s hard to think clearly with crowds of competing buyers squashing in and out of the rooms,” Cashmore says.
Try and visit during the day and turn off the lights to assess natural light.
“Don’t be afraid to open cupboards to assess storage space. When on a private inspection try and visit during the day and turn off the lights to assess natural light. Is it too dark to read a newspaper without putting the light on? Is there anything you can do to improve the situation? i.e. – sky lights for example.
“Concentrate on the things you can’t change (orientation, location) – not those you can.”
Good news for home owners and people looking to enter the property market at the moment
The following article is a blog by Kate Jones that appeared on the realestate.com.au website on 29 MAY 2015
Rates set to remain steady in coming months
Interest rates are tipped to stay on hold for June, and possibly for the rest of the year, as the economy absorbs two earlier rate cuts.
Rates are currently at 2% after they were cut by 0.25% in February and again in May.
Market Economics managing director Stephen Koukoulas says the Reserve Bank will sit tight in June.
“There’ll be no change in June and for quite a few months,” he says.
“We’re at 2% and the economy is ok – it’s not strong, but certainly not any weaker than it was.”
Minutes of the RBA’s Monetary Policy meeting in May echoed this assessment of the economy, stating “forces underpinning developments in the domestic economy were much as they had been for some time”.
The minutes revealed the RBA had considered decreasing rates in either May or June, but opted for May to take advantage of revised growth forecasts by Reserve Bank staff.
RBA data suggests economic growth is expected to continue at a lacklustre pace for the next 12 months before picking up gradually in 2016/17.
Increased consumer confidence, a downward shift in unemployment rates and a cooling property market in Sydney are key to reviving our lagging economy, financial experts say.
Whilst he expects rates to remain on hold this year, Collins House independent financial advisor Dominic Alafaci says the RBA may consider raising rates if Sydney’s overheated real estate prices don’t get under control soon.
“Whilst we expect the Reserve Bank to maintain its easing bias for the medium term, there will be some upward pressure on the overall cost of borrowing especially for investment purposes as regulators attempt to contain a potential property bubble,” he says.
On the flipside, interest rates could be cut even further if the economy needs a boost to speed up growth.
“Rates will remain stable for the near term unless the economy falls away in the third quarter whereby the Reserve Bank may cut rates sooner rather than later to help stimulate the economy and improve employment growth,” he says.
With interest rates now at new record lows, Alafaci says there’s a good case for homeowners to stick to a variable rate or split to lock in fixed rates for part of their loan.
“As a rate rise is not on the cards this calendar year, keeping the bulk of your home loan variable would be worth considering,” he says.
“Although those who prefer to eliminate uncertainty from a cash flow perspective or who are fearful of potential increased borrowing costs for investment purposes, may wish to lock in a fixed rate loan with part of their facility.”
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