Real Estate Buzz

Main Beach rents up there with New York

admin — Sun, 04 Jan 2009 03:28:59 +0000

Main Beach rents up there with New York Businesses along Tedder Avenue are being forced to relocate because of soaring rents of up to $1500 a square metre, almost as much as New York City’s Fifth Avenue. Ms Brown also said the lobby group would be appealing to authorities to provide relief to landlords who rent space to essential services the people who make up the heart of society,” she said.

www.goldcoast.com.au

Main Beach-Tedder Avenue Association

Mission Beach real estate

admin — Sun, 04 Jan 2009 03:07:11 +0000

Ulysses Estate in South Mission Beach would have to be one of the very few locations along the East coast of Australia offering fully serviced lots this size, this price, this close to the beach.
These allotments have just been reduced, are bigger than the average allotments in the area, and are certainly priced to sell………Lot 13 – 934m2 and the adjoining Lot 12 – 933m2 are level lots making them easy to build on. They are situated at the end of a quiet cul-de-sac, are only a pleasant 5 minute stroll to the beachfront of South Mission and are very close to The Elandra Resort and both the ocean and river boat ramps.

www.andersonsrealestate.com

Bait for home buyers

admin — Sun, 04 Jan 2009 02:57:06 +0000

As the Gold Coast property industry braces itself for what is tipped as its annus horribilis, property developers, agents and vendors have once again had to get inventive in a buyers’ market. A few years ago the industry’s sales skills were showcased at the Gold Coast Arts Centre in a display of real estate posters from years ago — such as the one that promoted the benefit of moving to the area to take advantage of the abolition of death duties, through to a laugh at agents’ expense, declaring ‘Real Estate Agent Taken by Shark’, to promote the canal estates.

www.goldcoast.com.au

Will 2009 be a Bull or Bear year?

admin — Sun, 04 Jan 2009 02:37:00 +0000

Australian Property Monitors economist Liam O’Hara is a “bear for the short-term”, predicting further falls of up to 14 per cent in areas such as Bondi, Mosman and Palm Beach, which come on top of steep declines last year. Rismark International head of research Matthew Hardman agrees, saying prices will rise and fall in different Sydney suburbs.

McGrath Real Estate chief executive John McGrath is confident about the health of the market, predicting bargains aplenty in suburbs such as Vaucluse, Hunters Hill, Longueville, Northwood, Northbridge, Cremorne, Mosman, Avalon, Whale Beach and Palm Beach.

Real-Estate agents such as John McGrath, apartment developers Meriton and the head of NSW’s Real Estate Institute, Steve Martin, are happy to talk about their confidence in the market.

Mr McGrath admits that asking a real-estate agent whether it’s a good time to buy is “akin to asking your barber whether you need a haircut”, but he says falling prices have made the market ripe for buying.

“Those sorts of predictions are just ludicrous because the Australian property market has floors under it and the drops won’t be that drastic,” argues Rismark International head of research Matthew Hardman, who says there will definitely be price falls in some Sydney suburbs this year. Australian Property Monitors Liam O’Hara forecasts house prices to fall by about 10 per cent.

www.smh.com.au

Brookland Greens False alarm claim on gas evacuation

admin — Fri, 02 Jan 2009 11:36:23 +0000

EPA spokeswoman Nicky Webster confirmed that the authority used ENSR’s advice, and said it was considered among other information.
Slater and Gordon lawyer Ben Hardwick, representing residents in their class action against the council, said ENSR was contracted by the council and concerns about the EPA’s handling of the situation were “spin”.

www.theage.com.au

Brookland Greens

Environment Protection Authority

2009 good time to buy property

admin — Fri, 02 Jan 2009 06:20:28 +0000

Australians could find 2009 an opportune time to buy property, but they should not expect a swift recovery in housing prices. Since September, the Reserve Bank of Australia (RBA) has cut the cash rate by three percentage points to a seven-year-low of 4.25 per cent.

Debt futures markets are pricing the cash rate to be as low as 2.5 per cent in June, while many market economists predict at least another one percentage point cut in total by the central bank.

news.theage.com.au

What to expect in 2009

admin — Fri, 02 Jan 2009 04:02:24 +0000

“Sunshine is always going to be the next big growth suburb with its nice tree-lined streets on 250sq m-350sq m blocks,” Mr Stephens said.JPP Buyer Advocates’ Ian James named southern belle Frankston, with its relatively low prices and beachside location, as his pick next year.

HOT TIPS IN SOUTH TWO-bedroom units in Elwood, which have had average annual capital growth of 12.6 per cent for the past 11 years, would represent “some of the best growth of 2009″, Mr James said.
Properties in Seaford, Mt Eliza and Frankston should be sound investments on the strength of their beachside locations and low starting prices, Mr Fletcher said. “People also talk about Sandringham as a high growth area as it has always performed quite well,” Mr Stephens said.

HOT TIPS IN WEST YARRAVILLE is top dog for Mr Earle, who likes its “great village atmosphere”, proximity to the city, access to Williamstown, beaches, and period-style properties. Yarraville also tops Mr Fletcher’s 2009 hot-buys-in-the-west list, though he likes Footscray and Williamstown too for location and lifestyle.

MOST INFLATED PRICES LONG-suffering Docklands is still overpriced and vendors would keep hurting in 2009, Mr Stephens said. Mr Earle suggested buying an art-deco apartment in St Kilda because its beachside lifestyle meant it would always enjoy strong demand from renters. Buyers would find “excellent value” in Footscray and Kingsville, Mr Stephens said.”

www.news.com.au

Suffolk Park residents say ‘no’ to holiday letting

admin — Tue, 30 Dec 2008 04:45:18 +0000

Cr Barham echoed this sentiment when she quoted statistics on the huge number of permanent holiday lets (600 houses in Byron Bay/Suffolk Park), which represents 25% of total house numbers.
Cr Barham felt that this had eroded the sense of community, increased the number of people leaving the Shire, decreased the numbers of volunteers in community organisations, left Byron high school short of teachers, and cost the community a fortune in clean-ups.

www.echo.net.au

Suffolk Park Progress Association
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Mt Gambier property market stays strong

admin — Tue, 30 Dec 2008 04:41:34 +0000

Mount Gambier’s real estate market has remained strong despite the global economic downturn, with one of the city’s agents claiming his business recently enjoyed its best month of sales in almost two decades. Mr Malseed said Mount Gambier real estate remained relatively cheap, compared to other areas, keeping the market strong. Herbert Real Estate’s David Herbert said lower interest rates and prices in 2003 led to the higher number of sales five years ago across the city.

www.borderwatch.com.au

Asset sales offer trust investors some hope

admin — Tue, 30 Dec 2008 04:37:17 +0000

Melbourne-based research firm PIR crunched the numbers on 140 unlisted property trusts and syndicates and found that 29 of them had LVR above 60 per cent. PIR associate director Dugald Higgins said the quality of assets owned by unlisted trusts and syndicates ranged from prime to secondary-grade properties. He said PIR estimated that valuations could drop by between 5 per cent and 15 per cent for prime assets and by 15 per cent or more for secondary-grade property in this downturn. A 60 per cent LVR did not sound too bad unless you examined what a 15 per cent decline in value could do to the LVR.