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Oct222015

You might be surprised to know...

Thursday, 22 October 2015

That the requirement for smoke alarms in all residential property came into effect some 10 years ago. It’s not that I celebrate 10 year anniversaries with any particular fondness but rather that a 10-year anniversary for a smoke detector is a special day. It means by law, it’s no longer legal. It must be replaced because that’s the law. And it’s not restricted to residential investment property. Yes our own home must also comply.

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Jul202015

The One Part Of The Market You Need To Be Watching

Monday, 20 July 2015

There is a card trick some know as 3-card monte, others know it by the phrase 'Follow the lady'.  The idea of the game is that three cards are placed on a table face down, one of the cards usually the Queen of Hearts is shown to the audience, then turned back over and the cards shuffled.  The audience member has to guess where the Queen is at the end of the shuffle.  The shuffler often says to the audience, 'Follow the lady'.  If you get it right, you win your bet.  If you get it wrong, you lose.  The card game is prone to slight of hand, it's a confidence trick, you lose a lot more than you should and the shuffler wins a lot more than they should.  If you are trying to understand what's happening in real estate, simple answer is to Follow the lady.   No, I'm not suggesting this is a con game or scam, I'm suggesting there is only one part of the market you need to be watching.

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Jun102015

Real Estate Report

Wednesday, 10 June 2015

Like all TV Economists, we can say we know exactly what real estate prices and the market will do in the future. And when the market proves us wrong, like all TV Economists we will blame ‘unforseen, outside events’. We will also hope no one remembers what we said. These confidence predictions that most real estate commentators seem most comfortable making about which way the market will go next week, next quarter and next year is one of the more entertaining features of our industry. For every prediction there are those that stringently reject it.

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Dec012014

Three Things to Do if You Want to Know the Truth About a Property's Value

Monday, 1 December 2014

Three things to do if you want to know the truth about a property's value. Giving a deliberately low unrealistic price guide to a buyer is illegal. Agents claim they don't under quote. My industry constantly argues that the incidence of under quoting is rare, that the vast majority of agents follow the rules. Most buyers now say they ask an agent for a price guide and then add 10% or $200,000 to estimate the real price.

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Nov112014

Is Owning a Home Right for You? A Global Perspective on Home Ownership Trends

Tuesday, 11 November 2014

For many, buying a house is considered to be a good financial choice to make once they have ticked off other important “life boxes”, such as securing a permanent job and perhaps, marriage. It offers a home, stability as well as acts as a crucial investment. However, is owning a home right for everyone? And, what of the countries who choose not to encourage home ownership through initiatives and policies? Do they suffer the consequences in terms of economic prosperity?

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Oct312014

Local Market Report

Friday, 31 October 2014

It's taken us a while but we are rather excited to be sending you this newsletter email. It has been built to allow you to search recent sales. Right now we have 6 postcodes 2111, 2112, 2113, 2114, 2115 and 2122.

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Oct312014

Sales Market - October

Friday, 31 October 2014

We think the market has peaked! At least in this area. That's not saying we think it's going to fall but the sale prices being achieved seem to be not too different to three months ago or even longer. House auctions have even started to be a bit harder work for agents (poor us) with less bidders and some properties being passed in. They are still selling but after auction and really not for much more than expected.

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Oct312014

Rental Market - October

Friday, 31 October 2014

We think this market peaked some time ago! And not just in this area.That’s not saying we are facing massive rent reductions across all rent ranges but there are some price pockets that are struggling. Newer units are facing a lot of competition and the market is constantly making more new product available for rent as large developments in the area are being completed. The last three months have been particularly difficult as the rental market has seen a much larger increase in tenants moving to newer properties, buying properties and having properties sold that they had been renting.

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Sep292014

Seven Minutes

Monday, 29 September 2014

We haven’t had many fires. However they have happened and not everyone has survived. No agent wants to say that. When you consider the number of properties we manage and the length of time we have been agents, the numbers of fires we have had has been few. But they are frightening with the speed they take hold and overwhelm. Our last fire was a month ago. The family had friends over for dinner. The young kids were playing together, talking flat-out, the young son of our tenant showing his friend his toys, both laughing and talking at the same time while adults sat and talked. Dinner was cooking.

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Sep292014

Market Trends - September

Monday, 29 September 2014

If you read the Financial Review one thing is clear, every property writer wants to have an article out there saying that the property market is in bubble territory. I suspect many are doing it for no other reason than being able to say ‘I told you so’ when the market does eventually come off. I’m the one normally writing warnings about being careful while everyone else is saying ‘up, up, up and away’.

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