August 2008
Welcome to House Search News for August 2008
ARE YOU A FENCE SITTER?
Don’t follow the herd! With high interest rates and doom and gloom dominating the media when it comes to property news, it’s all too easy to sit on the fence with everyone else, waiting for a more positive outlook.
The trouble with this strategy is that when all the fence sitters jump off at the same time, prices can be pushed up substantially, as demand for current supply increases.
Here at House Search, being in the marketplace every day, we’re seeing some amazing results in terms of prices, in some cases down some 15% from 2003 prices. With sellers dropping their prices again and again and again there’s real opportunity out there for those looking to buy either home or investment properties.
With little or no competition on some great properties, now represents an excellent time to pick up a bargain. Along with rising rental yields, conditions are more favourable than previous years for investors, whilst home buyers reap the obvious benefits of buying in a down market.
If you feel it’s all too time consuming, however, or haven’t got the necessary time to research and negotiate thoroughly then give us a call instead to see how we can help.
We look forward to being of service with your next purchase!
Warm Regards
Jacque Parker
Director
House Search Australia
—
Which Property Manager?
What questions should you ask a property manager before hiring them to look after your investment property?
It’s a subject many investors don’t broach but instead end up using the PM of the agency they bought through, even though they may not the “right” person for the job.
If you want the best out of your PM ask them my essential 12 QUESTIONS to see if they measure up. Simply become a member on www.invested.com.au (it’s free) and look under Articles to read SELECTING AN EFFECTIVE RESIDENTIAL PROPERTY MANAGER
Make sure your investment is protected by an outstanding property manager.
—
Market Update – Sydney Property News
With Sydneysiders still suffering the highest median price of any capital city in Australia, it’s the opinion of many property forecasters that well located units currently represent the best value for money in terms of yield and affordability. Residex’s John Edwards is particularly upbeat about them in his latest newsletter along with his opinions on other state markets.
With upcoming generations preferring to rent rather than buy, units may well become the first and only choice for many younger home owners seeking longer term security with housing.
With the Sydney rental crisis a hot topic in recent news, the REINSW’s call to the state government to reduce current taxes on stamp duty and land tax appears to have fallen on deaf ears again. However, at least the Iemma govt has admitted that a rental crisis exists.
—
Useful Links and Snippets
Want to know more about your legal rights when it comes to property?
Then check out this highly useful NSW site for those tricky questions. It’s a free resource and may assist in guiding you to the right department or person for your specific enquiry.
—
What’s in a title?
Company? Community? Strata?
If you’ve often wondered about the differences between them Jimmy Thomson explains it in simple english here
—
Suburb Spotlight – Winston Hills
Approximately 33km from the CBD, Winston Hills lies in the northwest region of Sydney, in Sydney’s Hills District.
It’s serviced by bus transport to both the CBD and nearby Parramatta, and is made up mainly of freestanding family homes.
Some facts about Winston Hills:
- Approx size 4km sq
- Population just under 12,000
- Predominantly families in the area
- Predominant age group 30-39yrs
- Over 87% owner occupied housing
- Current median house price $509,000
(Source: RPData)
InBlue Web Media