National Residential Property Listings Decline in 2018

With homeowners taking a break and enjoying summer holidays, national property listings declined in January 2018 by 4.8% to 303,901, according to data from SQM Research.

Melbourne led the decline in listings with 13.9%, followed by Sydney with 6.9%. Stock levels in Brisbane and Melbourne significantly declined from a year ago, by 11.9% and 29.1%, respectively, indicating a large scarcity of homes for sale in those areas. However, listing increased by 20.9% in Sydney compared to a year ago, a sign of a significant rise in homes that are for sale.

Listings in Canberra dropped 6.2% and declined by 5.8% in Adelaide. The stock on market in Brisbane dropped by 3.9%, by 2.1% in Perth and 1.3% in Darwin. Listings in Hobart dropped 2.6% over January.

National Residential Property Listings Decline in January 2018


The decline didn’t come as a surprise since January is normally is the slowest month of the year for listings in most areas as people go off to their summer holidays. However, Sydney listings are much higher year on year.

Modern price gains in Sydney and most other capital cities are expected going forward, since interest rates remain low and the likely expansion of lendings by banks.

As for auction clearance rate results and the asking prices over the rest of February provides some excellent understanding of how the market was launched. Asking prices recorded a major increase in January, but it was due to a lower number of listings, so it would be prudent not to read too much into it at this point.

For the month until January 30, capital city asking prices were up 2.2% for houses and 3.0% for units. Sydney posted the biggest monthly increase, with house asking prices rising 4.5% and unit asking prices increasing 4.2%.

Prices were highest in Melbourne year on year, with housing asking prices increasing 24.1% and 11.9% for units. Increases were high too in Hobart, with asking unit prices growing 8.9% and 6.3% for houses.

Darwin recorded the only  decline in house prices due to the mining slowdown that continues to affect the real estate markets in the region. In Perth, asking prices increase 2.2% for houses year on year, as it recovers from the slump.

Interested to know the changes in your suburb?  Ask Annette or book a 15 minute appointment for more information about your home.

How to Style with Cushions

Cushions seems like the easiest element to use when trying to achieve a new look for your home interiors. However, there are certain important things to keep when in mind when choosing the cushions for your use.

Size and shape: Mix cushions of different shapes and sizes to add depth to your lounge. Using different shapes, like putting squares with rectangular cushions, creates a more lived-in look, but still appearing stylish. If you use the same sizes, your interior could make the interior look formal.

Take note not to use too many cushions: Use common sense to make sure there is still room on your lounge for you to sit.

Colour and pattern: If you’re still unsure about using bright colours on a large scale in your home, try adding a splash of colour using cushions. If a room has a plural pattern, use one of the colours on it, and choose a simple block colour cushion. Changing the colour you’ve chosen once again revitalises the space, and the floral is seen in a different way as the eye is pulled to the freshly accentuated colour within the pattern. Another way to refresh your space is to mix patterns and textures.

Staying on trend: Trends never last long, but keeping a space new and always updated can be done without fuss with cushions. If you want to integrate a seasonal colour, use varying tones of the same colour. Do the same for decorator pieces in the same space – stay away from the same colours in all pieces, or see the effect disappear.

Establish the tone: You can set the mood for a space by your choice of colours and details. For instance, choosing blue and green tones with self-piping produces a quiet yet classy look. The understated tone variation lets you add shade without being too vibrant as the tranquil colours don’t overcome the senses.

Fabrics choice: If you want a luxurious look without spending full-on bling, pick materials with sheen like velvet or silk. In addition to creating a luxurious feel, these materials bring the urge to touch. This creates a more comfortable and inviting vibe. Want a more casual ambiance? Use heavy weaves, cottons and linens. These materials are suitable for everyday use, and the copycat linens or blends are hard-wearing and more adaptable, particularly when you don’t want too be too fussy with them.

Inners: Feather is the ideal inners for cushions, as you can easily sink into them and they conform to the shape of your body. You can split them on top to make them appear softer when put on the bed or lounge. You can create a sense of refinement with this small added element.

Poly inners: Are great if you need cushions to stand up straight. But if you have a leather lounge, cushions with poly inners will slide onto the floor. On a positive note, they need less fluffing, making them more low maintenance.

Have your own made: If you’re finding it hard to get the right size, shape, colour, finish or pattern, have one custom made. You have the liberty to pick the fabric and size you like. A local sewer can make beautiful combinations of fabric, colours, patterns, etc. according to your personal specifications. You don’t need to have the same cushions as everyone else, if that is your wish.

Check out and follow our Cushion & Throws  Pinterest Page for more ideas and inspiration.

Your Checklist for Property Presentation

As soon as your property becomes available for sale, it’s essential that it looks its best. Here is how you can present your property in its best light.

Curb appeal: Make your garden weed free and add a few beautiful plants to make the front of your property appealing and inviting.  There are now stylists for your front yard to improve first impressions adding value to your home.   We are happy to recommend Christine and her team from Street Appeal Garden Solutions

Fresh and clear: Give your property an once-over before each viewing, making sure that the windows are clean. This makes so much difference when viewed in the light of day. 

De-clutter: Prospective buyers should be able to imagine their personal belongings in the home, so remove clutter to make things neat and orderly. Rooms will also appear larger with less clutter.

Set the scene: Create the look you want for your home by hiring furniture. Doing this will transform your home and give it added appeal.  We work with several companies depending on your requirements and budget.

Make repairs, minor ones: Make sure to take care of minor repairs such as leaking taps and broken bulbs. Make scuffs and scrapes in the woodwork disappear with a fresh coat of paint. Simple maintenance work will ensure that buyers don’t discover any flaws.

Air it out: To eliminate smoke or pet odours, open the windows to air the place out, brew a pot of coffee, and make the room a little brighter with fresh flowers.

Let there be light: Install mirrors and lights in strategic places and open all internal doors to make the room appear bigger.

Take care of pets: Make sure to clean up after your pets and remove them from the property during viewing times.

Chill out: Add warmth by making sure your home has the right temperature for the day. Chase the cold away by lighting a fire, turning on the patio heaters or gas heating. Or make your home a little less hot by turning on fans and cooling systems.

 

 

Start while you’re young

There’s no denying that home ownership has gotten harder.  Nevertheless for young people, buying an investment property can be surprisingly affordable.

Buying a home is difficult. First you have to raise the deposit, then convince someone to lend you the money. Finally you have to pay the mortgage and all the other costs associated with home ownership. There’s a good chance that where you can afford to buy is not where you want to live. Nor will it necessarily be the place you can realise the best capital gain.

This doesn’t mean you should give up on purchasing a property altogether. In fact, there are distinct advantages to buying an investment property over a home that make it a great way for young people to get a foot on the property ladder. Because you aren’t living in the home, much of the cost of servicing the loan is met by your rental income. This means the banks view your purchase as a less risky investment and are therefore more likely to lend you more money.

If you are lucky your parents might also be able to help you out. This could come in the form of letting you stay at home, so you aren’t paying rent as you pay off your investment property. Or they could offer to be guarantors for your mortgage, which will reduce the amount of deposit required, as well as extra expenses such as mortgage insurance.

Take the recent example of Andrew. Having finished university, he’d landed his first job and was earning $60,000 a year. He was still living at home, but was keen to get into the property market so he had something to show for himself by the time he decided to settle down.

Andrew had about $30,000 in savings, but also a HECS debt. When he went to the banks, they told him they would lend him up to $320,000 for an owner occupied property, but $490,000 for an investment property on the basis that much of the loan would be serviced by rental income that was in addition to his current salary.

The situation was helped by his parents who offered a limited guarantee for his loan. That enabled him to pay purchase costs from his savings as well as a deposit of $10,000. He was able to purchase a new 4 bedroom, 2 bathroom, 2 garage house in the northern suburbs of Brisbane for $500,000.

The most surprising thing is that when tax benefits, such as negative gearing and depreciation, were taken into account, along with a rental income of $420 per week, the property was costing Andrew only $30 per week.  By comparison to hold the same property as an owner occupier would cost him $540 per week.

For the price of a coffee a day, Andrew was on the property ladder, without any significant sacrifice to his lifestyle. From this position, he can build up equity in the property. As the time comes to settle down, he will have a larger deposit and smaller mortgage to pay when he decides to purchase a home.

By Scott Pfeiffer

Website: pfeifferproperty.com.au

Article Link: Start while you’re young