Weekly Property News Oct 23 – Oct 30 2020

Dean O'Brien Director of OBrien Real Estate

A time for the dreamers

Hi Guys, it’s Dean OBrien from OBrien Real Estate with another edition of the Property News for 2020 where real estate information is on the house.

The big news this week is The ANZ Roy Morgan Consumer Confidence survey has hit an 8 year high. People are definitely feeling more certain now and we’ll find people will once again begin to re-start their dreaming.

We all know our future is not a place at which we arrive, it’s actually something that we need to create. Let’s use the success of the Richmond Football Club as a case study on how success is created. In 2010 they wrote a blueprint to create unprecedented success forecasting to win 3 premierships by 2020. After that season they went backwards but they never faulted eventually transcending.

Our lessons learnt in life and our true purpose is often found through adverse times. In late 2018 the McCrindle research group released a Life Satisfaction Survey on people’s biggest regret’s in life. The report made the front page news of the Herald Sun at the time and the top 3 regrets were Family and Relationships, Not pursuing a Dream, and the third was Travel. 22% of the people surveyed said they hadn’t stepped out and taken a chance. So if you had been thinking prior to Covid-19 about a career change, a relocation change, or a lifestyle change, it’s time to rekindle those dreams and use the Covid-19 lessons to plan and transcend your life into the future.

Here’s the news this week across the markets:
REA insights

  • You’ll see from the above graph supplied this week by Australia’s number 1 listings platform realestate.com.au that weekly buyer demand has now hit its highest peak so far in 2020. So if you are considering a life change, this graph indicates that buyers are now ready to act more than ever in 2020.
  • The ABS released Consumer Price Index this week which is the main measure of inflation in Australia – rose by 1.6 per cent in the September quarter. The result is extremely encouraging news for our economy as it follows the 1.9 per cent decline from the June quarter.
  • Traditionally Melbourne Cup Day is a day where we see a rate cut just in time for the Christmas and if it happens we’ll see the current buyer confidence remain in the market.
  • Also next week we have the US Elections. Regardless of who wins investors are hoping for a clear outcome with no controversy.
  • The current US stimulus agreement is still being worked on and is likely to be announced post the election which no doubt will boost global confidence.
  • Also this week, banks are reporting profits with all eyes to be on loan defaults and deferments.
  • Sales across Victoria continued to be strong with exactly the same amount of sales occurring as last week with 1213 private sales however auctions flourished with 490 auctions results captured with a clearance rate of 63.47%.

Across the OBrien Real Estate Network

OBrien Real Estate property news October

We saw 95 new listings launch, 116 properties go under contract, 85 selling with the Highest price of $2.140 Million.

Lastly, I would like to congratulate all the finalists and winners in last weeks REIV awards and specifically congratulate our very own Michelle Stephens in winner Sales Agent of the year for the second year in a row and Anna Molinaro for winning Property Manager of the year.

That’s all for this week, I’m Dean OBrien and remember the information provided is of a general nature you should always seek independent legal, financial, taxation or other advice in relation to your unique circumstances.

Rental Market News Oct 23 – Oct 30 2020

Jason Mudford General Manager OBrien Real Estate

A time for the dreamers

Hi Guys, it’s Jason Mudford from OBrien Real Estate with another edition of the Property News for 2020 where real estate information is on the house.

Our lessons learnt in life and our true purpose is often found through adverse times. In late 2018 the McCrindle research group released a Life Satisfaction Survey on people’s biggest regret’s in life. The report made the front page news of the Herald Sun at the time and the top 3 regrets were: No.1 Family & Relationships, No.2 Not Pursuing A Dream, and No.3 was Travel. 22% of the people surveyed said they hadn’t stepped out and taken a chance. It’s time to rekindle some of those dreams and put the Covid-19 lessons to good use.

The trend we are finding in the market this last week is that many renters and landlords are closely monitoring what is currently available on the market and then determining how it compares with the property they own or rent to try and better understand the competing rental offerings and where price adjustments are.
REA rental insights

  • You’ll see from the above graph supplied this week by Australia’s number 1 listings platform realestate.com.au that the weekly rental demand has subsided a little. This is due to not just the low overseas visitor rate but because the HomeBuilder scheme is encouraging renters to become first home buyers to purchase.
  • There could be some good news on the horizon for investors with the possibility of interest rate news on Melbourne Cup Day.

Here are my top 4 tips if you’re a landlord trying to better your position.

No.1 – Speak to your bank about a better interest rate and play hardball. You’re the consumer and you have the power. And when you speak to the banks be prepared, know your facts, quote what their competition is offering. Right now Westpac is offering $3000 cash for refinancers and fixed rates for investors is as low at 2.49% fixed for 3 years with Westpac.

No.2 – Object to your Rates Valuation. Councils slugged ratepayers with a standardised 2.2% increase. If values for your area have decreased then object to your council. The valuation not only affects the rates you pay it also affects your land tax assessment. If you need help just ask us and we can assist.

No.3 Check your Insurance Policy. Being properly insured is important so check you have the right Landlord cover. And while you’re on the phone, if you have been loyal to your insurance company ask them for a discount. Because the cost to keep a customer compared to gaining one is 10 times cheaper.

No.4 Check you are claiming all the tax deductions available to you. Even if your home is older deductions are still. If your not sure get in touch with us we can put you in contact with the right tax accountants.

That’s all for this week, I’m Jason Mudford and remember the information provided is of a general nature you should always seek independent legal, financial, taxation or other advice in relation to your unique circumstances.

Why do you need to do a home renovation?

Home renovations

A lot of people are undecided about whether or not to renovate their homes. Well, this can be a dilemma if you haven’t considered your options. In the era of technology, constant improvements occur in the real estate sector. In Melbourne, our City boasts of exquisite home plans and designs. Melbourne city, like many others, has homes of different designs and shapes. As a resident, you would probably want to renovate your home to keep up with the real estate’s pace.

Homes are one of the most critical assets to people. Nevertheless, the first thing that comes into many homeowners’ minds when they think of renovation is money and time.

Yes, it can be time-consuming and expensive, but the benefits set to gain are far more significant. Homeowners in Melbourne have to think about home improvement regardless of their current perception because they will need to renovate their homes at some point in time. Below are some of the reasons why you should consider doing a home renovation;

Beauty and Comfort Home renovation
Home renovations make a home; aesthetic comfortable, enjoyable, and relaxing. It gives the feeling of a new home. Everyone would love to come to a comfortable home after the day’s activities. When a home maintains its initial condition, the owner gets used to it, and sometimes he/she may lose the taste of its comfort. Home improvements come with changes, thus bringing back the comfort. It has the essential factors to a lovely home; feeling of comfort and satisfaction.

Value Addition
Apart from pride, renovation adds value to your home. Some homeowners may want to sell their homes in the future. It will be very disappointing to sell your home at a low price because buyers consider it substandard. Home renovation ensures that you also have the current improvements based on current trends.

Homes are constantly evolving in terms of shape, interior design, and technology use. These improvements add value to the home; therefore, a homeowner can fetch a good price in the market when he/she decides to sell it.

Here at OBrien Real Estate Berwick, our team boasts of satisfied clients that, through a home makeover, their property’s value scaled up. People might think of home renovation in terms of improvements only. It is not the usual case because sometimes people renovate their homes to repair roof leaks, cracks, or electrical problems. It is not right to ignore these minor problems as they make homes uncomfortable and unenjoyable. Additionally, carrying out these repairs during home renovation enhances family safety.

Improved Functionality
Home renovations also improve the function of a home. You might need to renovate your home to create more space or add more rooms. For instance, the number of members of the family may increase, necessitating the addition of rooms. Also, renovations may are to create more space in the living room to accommodate a particular design. Home improvement can be the solution to the changes required in a home.

Uniqueness

The style and efficiency of the home are improved by home renovation. The look of your home might probably be outdated and in need of a change. Through home improvements, the style is updated, thus giving the home a more appealing look. It is particularly crucial if you want to sell your home. Buyers are attracted to homes whose styles are up to date. Renovations such as energy-efficient pumps and insulations improve the efficiency of the home.

As a homeowner, now is the time to consider renovating. Melbourne city’s real estate is up to date with all the new home trends. Whether you want your home to be more secure or improve the style, comfort, and efficiency, home renovations are the real deal. Renovate your home now because it is just a matter of time before you need home improvements.

REIV Award Winners Announced

On Thursday 22nd October the REIV Excellence Award winners were published and OBrien Real Estate are proud to announce that two fantastic hard working women within our network took out two incredible awards. Anna Molinaro from OBrien Real Estate Blackburn won the award for
‘Residential Property Manager of the year’ and Michelle Stephens from OBrien Real Estate Carrum Downs won ‘Residential Sales Person of the year’. Michelle Stephens also took out this award last year making it back to back.

A self-confessed perfectionist, Anna Molinaro is consistently raising the bar – driven by results and customer satisfaction which she holds in the highest regard. Anna works beyond her line of duty, frequently exceeding her clients’ expectations by delivering the results to achieve their goal. Anna is enthusiastic, positive and loyal by nature which enables her to be a confident, professional and warm Property Manager, skillful at handling tenant and landlord related priorities under tight deadlines on a daily basis.

Anna has also achieved the following awards throughout her Real Estate career with her biggest accomplishment resulting in becoming a Licensed Real Estate Agent in 2019.
• Residential Property Manager of the Year 2020 REIV Finalist (Top 3) September 2020
• Company Values Award (1st) OBrien Network August 2020
• Property Management Excellence Annual Award (2nd) OBrien Network August 2020
• Excellence Award (3rd) OBrien Network January-March 2020
• Excellence Property Management/Office Award (2nd) OBrien Network January-March 2020
• Landlord Satisfaction 90-day Survey (2nd) OBrien Network October-December 2019/2020
• Direct Connect Referral- Individual (1st) October-December 2019/2020
• Direct Connect Referral- Office (Top 10) OBrien Network October-December 2019/2020
• Top 5 Finalist for Realestate.com.au’s ‘The Real Ideas Prize 2019’ (2nd place) Australia Wide 2019
• Residential Property Manager of the Year 2020 REIV Finalist (Top 5) 2019
• Listing Loop Competition (1st prize) Victoria Wide 2019
• Property Management Excellence Award 2018
• Property Management Excellence Award 2016
• Customer Service Excellence Award 2014
• Receptionist of the Year Award 2013

Michelle is consistently a top industry performer who has firmly established an enviable reputation as one of the most successful and sought-after sales agents with over $200Million in residential sales in the past 2 years. Michelle’s exceptional attention to detail, dynamic energy and impressive negotiation skill set is what sets her apart from her competitors. Arguably one of the hardest working agents in the industry, Michelle is considered to have a natural talent for selling real estate, as well as being the cream of the crop and a tenacious negotiator. Driven by a desire for absolute excellence, Michelle exudes genuine enthusiasm and whatever-it-takes attitude which translates to exceptional results for all of her clients.

As a multi-award-winning agent, Michelle is a repeat influential industry performer. Although there are many more, some of her most recent achievements are:
• REB – 2020, Residential Salesperson of the Year across Australia
• REB – 2020, 1st In Victoria (total number of listings)
• REB – 2020, 1st in Victoria (total number of sales)
• REB – 2020, 4th in Australia (total number of listings)
• REB – 2020, 8th in Australia (total number of sales)
• REIV – 2019, Residential Salesperson of the Year in Victoria
• REB – 2019, 2020 Top 100 agents across Australia
• REB – 2018, 2019, 2020 Top 50 Women in Real Estate across Australia
• OBrien Real Estate – 2017, 2018, 2019, 2020, 1st within the network
• Rate My Agent – 2020, Agent of the Year for Carrum Downs & Skye
• Rate My Agent – 2019, Agent of the Year for Carrum Downs, Skye & Sandhurst

OBrien Real Estate are proud to have two inspiring, motivating and hard working agents within our network that also show leadership and assist their colleagues. The network are looking forward to seeing what Anna, Michelle and all staff will accomplish within the next 12 months.

Rental Market News Oct 16 – Oct 23 2020

Jason Mudford General Manager OBrien Real Estate

It’s “First in best dressed”

Hi Guys, it’s Jason Mudford from OBrien Real Estate with another edition of the Property News for October 2020 where real estate information is on the house.

The big news this week is commercial real estate inspections can now re-commence which is great for our commercial landlords and renters. And of course, on-site auctions can now return to Metro-Melbourne with up to 10 bidders allowed.

Last week we commented on the vacancy rate in rental markets particularly around Melbourne CBD and universities being mostly affected by the low numbers of overseas visitors to Victoria. But relatively speaking our suburbs are unscathed by this trend. Although Covid-19 is an event there is likely to be an economic recovery trend for the next 12 to 18 months until a vaccine is found, so today we wanted to share with landlords the 3 main things you should focus on if you are leasing in today’s market.

Number 1 is Price – Ensure you are in the market and not just on the market and by that, I mean ensure your home is priced right so that your home is leased in the quickest amount of time. Nationally the average weekly rental for a house is now $515 a week, holding out for $10 extra a week is all but evaporated in waiting on the market for one extra week, if it’s 2 or 3 weeks your waiting it starts to add up in the $1,000’s. Remember each week your property is vacant costs you 2% of your annual return.

Number 2 is the home Safe and Fit for purpose? – Ensuring your home is in good working order will not only help you attract a tenant quicker; your tenant will pay better and stay longer if the product your offer is in order. And it gives you the landlord that peace of mind. Testing electrical and gas appliances should be a prerequisite, but consider an electrical safety check if the home is older and hasn’t had one before. Ensuring adequate security exists like secure fencing. Locks on doors and windows should be a given check but consider security doors, a ring video doorbell or even an integrated security system. With the warmer blustery weather upon us ensure large trees are checked and pools are in compliance.

Number 3 is Presentation of the Home – Washing and cleaning is one thing, but replacing some old worn carpet and replacing tired curtains will not only increase your rental payments, but it will also get you leased to a quality secure tenant faster. Thoroughly review your home, consider cosmetic improvements that don’t cost the world and adds modernisation. Painting inside is always great, but also consider little things like door handles and knobs, showerheads, taps, toilet seat and basins. And outside consider your storage sheds, your washing lines and paving areas for outdoor entertaining.

Remember people are staying at home more than ever, whether that is working or playing. So even consider that study nook or home office. People will be moving from the city to the suburbs due to the ability to work from home and they will also be taking items out of storage with them, so consider your storage capacity too.

In closing, Victorians can stand proud of their State, for everything that has been achieved this year under the very trying conditions. And it’s timely that we are seeing many sporting achievements in from Victorians, the Vixens, the Melbourne Storm and the 2 Victorian clubs Geelong and Richmond in this week’s grand final. Enjoy your Friday off and the long weekend.

That’s all for this week, I’m Jason Mudford and remember the information provided is of a general nature you should always seek independent legal, financial, taxation or other advice in relation to your unique circumstances.

Weekly Property News Oct 16 – Oct 23 2020

Dean O'Brien Director of OBrien Real Estate

It’s “Victoria On The Move” again

Hi Guys, it’s Dean O’Brien from OBrien Real Estate with another edition of the Property News for 2020 where real estate information is on the house.

Its “Victoria On The Move” again. The Vixens won the netball grand final, Melbourne Storm are in another grand final week, we have Richmond and Geelong playing off in the AFL grand final and we are very close to being living a “covid normal life” with substantial restrictions being eased back over the next few weeks.  With last week’s easing of restrictions, the big news for real estate is it means on-site auctions can now return to Metro-Melbourne with up to 10 bidders allowed at the auction.

Melbourne Real Estate activity really ramped up this last week and expect to see that trend continue with 1213 sales across the state up from 34% from 3 weeks ago which can be directly attributed to private inspections being allowed once again in Metro Melbourne. Victoria also saw a substantial increase in scheduled auctions this last week, with 188 homes taken to auction, up 218% on last week and we can expect to those numbers to flourish, the same time last year we saw 915 auctions occur in Melbourne.

OBrien Auction TV held 3 online auctions mid-week with 2 selling and 1 passing in. And you can expect to see the odd auctioneer this weekend donning a Richmond, Geelong or even Melbourne Storm footy jumper this weekend getting into the footy finals spirit that Melbournians love.

Specifically, the numbers across OBrien saw 105 new listings go to market, with 95 properties under contract, and 87 sales. And in the last 2 weeks, we have seen over 200 people enter our “Sell With OBrien” competition to win 1 of 3 prizes with the major prizes being a Volkswagen Polo, the competition lasts until 29 January and all you need to do for your chance to win is launch your property onto the market during that time.

OBrien Real Estate property news October 16 2020

Here’s the major news that broke this week that reflects today’s market:

  • Aussie shares hit a 7 month high this last week. Is property poised to follow?
  • A sign of activity ramping is up is the sales of private new detached rising by 3.8 per cent in September to be up 28.9 per cent over the last quarter.
  • There are currently 183,120 homes being built across Australia and as you can expect due to Covid this is the lowest number in 6½ years. However, we expect to see those numbers flourish particularly with the exponential new home sales growth the US is currently experiencing.
  • Nationally Employment fell by 29,500 in September and in Victoria unemployment sits at 6.7 per cent.
  • Consumer confidence hits a 20 week high with the ANZ-Roy Morgan poll recording a 50.2 per cent increase in confidence since March 29.
  • The finally the Reserve bank governor Dr Lowe signalling a rate cut is possible with him saying “As the economy opens up, though, it is reasonable to expect that further monetary easing would get more traction than was the case earlier.

That’s all for this week, I’m Dean O’Brien and remember the information provided is of a general nature you should always seek independent legal, financial, taxation or other advice
in relation to your unique circumstances.

Shave For A Cause.

On October 31st, OBrien Real Estate Director’s Darren Hutchins, Kayn Luff & Ty Luff will be shaving their heads & beards for a great cause.

In preparation for MOvember 2020, Darren, Kayn & Ty wanted to start off with a fresh canvas and believe that raising funds along the way would be another great way to give back to communities. All funds raised for this campaign will go directly to the OBrien Real Estate Foundation. The OBrien Real Estate Foundation will donate these funds to local organisation & charities in need to help assist individuals and families.

During Covid-19 it is more important than ever that we support our local businesses in any way that we can. With restrictions now eased and hairdressers now operating this event will take place at a local hair salon in Frankston ‘Hair Moves’ by Hairdresser Deen Mos.

If you would like to donate and assist in supporting a wonderful cause, please click on the link below. 

 

www.mycause.com.au/page/234837/shaveforacause

Rental Market News Oct 9 – Oct 16 2020

Jason Mudford General Manager OBrien Real Estate

If you can wait and not be tired by waiting

Hi Guys, it’s Jason Mudford from OBrien Real Estate with another edition of the Property News for 2020 where real estate information is on the house.

Last week was our second week since private inspections re-commenced and we are seeing the flow effects in our numbers from the pent- up demand from people seeking shelter. The largest impact in the rental market that we are seeing is in the suburbs affected by low overseas visitors. Here is the data that came out to the market during the week. Next migration numbers are expected to fall from 154,000 in the 2019-20 financial year to a net loss of 72,000 in 2020-21 and a further 21,600 in 2021-22.

Overseas visitor arrivals are down by 99.6 per cent from a year ago and in August 2019, almost 55,000 students arrived in Australia to study compared to just 50 arriving in August this year.
Interestingly the below graph shows the year on year changes in demand from overseas countries, with a decrease of 49% from China and an increase of 32% from the USA.

Overseas real estate searches Australia

The next chart below shows the changes in buyer demand and popularity in suburbs from a buying perspective since Covid-19.

Least popular suburbs since Covid-19

The demand from buyers doesn’t always equate to the demand we have from renters. For example, Box Hill South which tops the chart for the largest change in buyer demand has a September 2020 rental vacancy rate of 5.7% as opposed to in October 2019 it having the exact same vacancy at 5.7% as per SQM research and data.

That’s all for this week and remember, If you’re considering selling, launch your property onto the market with OBrien and you go into the draw to win 1 of 3 prizes with the major prize being a Volkswagen Polo valued at $26,770 including on-road costs.

That’s all for this week, I’m Jason Mudford and remember the information provided is of a general nature you should always seek independent legal, financial, taxation or other advice in relation to your unique circumstances.

Creating Bedrooms and Bathrooms in Hamptons Style

Hamptons style bathrooms bedrooms

What is the Hamptons style?

Typically a Hamptons styled interior is bright, light and white. It is a combination of sophistication combined with a coastal beach spirit and soul. The intent of this type of styling is to give the tenant or guest a relaxing and calming feeling.

Over the past few years, the Hamptons style of homes has become incorporated into the design of Australian homes. This is in part due to their laid back, fresh feel and summery vibe.

The interior of the Hampton interiors are roomy and spacious and give the impression you are in a holiday home at the beach. They are great entertaining homes. You could say the Hamptons design is the Americans version of the French inspired Baroque style.

Hamptons Style Bathroom

Hamptons style bathroom
Hamptons-style bathrooms are a neutral colour such as white, grey or black and white. Hampton’s bathrooms are classic, elegant and timeless. With the addition of coloured towels and bathroom accessories, a new look can be achieved.

  • Subway Tiles – These are generally white or marble.
  • Marble – Marble or natural stone is used for tiling, countertops or both. Marble tiles can be applied in various shapes such as hexagonal, basketweave and herringbone.
  • Vanity – A Hamptons-style vanity is usually custom-built with a shaker style profile on the doors and drawers. Cabinet knobs or pulls are more often chrome or nickel-plated.
  • Sconce Lighting – Sconce lights are usually mounted on either side of the mirror or on the mirror itself.
  • Wall Panelling – Walls, or sections of, can be panelled or sometimes wallpapered.
  • Neutral Colours – Hamptons-style bathrooms are a neutral colour such as white, grey or black and white.
  • Tapware – Tapware is generally chrome or nickel-plated and traditional in style.

Walls, or sections of, are often panelled or sometimes wallpapered.  The bath is sometimes set in the middle of the bathroom and clad in marble. Or, it is set aside to one corner on 4 feet.

Hamptons Style Bedroom

Hamptons style bedrooms bedrooms
In a Hampton’s style bedroom, you will need lots of layers of linen and cotton plus quite a few pillows. The room itself will be dominated by white ceilings and walls or light pastel shades of blue. The bedhead will be a padded crisscrossed pattern. At the end of the bed will be a flat cushioned 2 seater. On the walls, you can add some small simple wall no frame hangings of shells. A beige coloured carpet will cover your floor. In a corner, there can be a small armchair with a cushion. The room will also have an open walk-in robe. The room will also have one or two small leafy green plants. Hanging from the ceiling will be a small yet imposing chandelier.

These bedrooms are designed to be minimalistic in a way but give the feel of cosy comfort and space.

  • The Bed – A large bed and upholstered bedhead with ocean views where possible.
  • Textiles – Lots of layers of linen and cotton. White in all its shades and perhaps some blue tones
  • Lighting – Combine directional lighting, bedside lamps or a statement chandelier
  • Wall Art – Frameless paintings or prints of seashells in pastel colours
  • Furnishings – Small armchairs and end of bed seating
  • Flooring – Light coloured woollen carpet or a large woollen floor mat
  • Balcony Doors – Double opening venetian styled doors

Weekly Property News Oct 9 – Oct 16 2020

Dean O'Brien Director of OBrien Real Estate

“It’s time in the market not timing the market”

Hi Guys, it’s Dean OBrien from OBrien Real Estate with another edition of the Property News for 2020 where real estate information is on the house.

Another exciting feature packed week has unfolded since the most significant Federal budget handed down since World War 2. Last week was our second week since private inspections re-commenced and we are seeing the flow effects in our numbers from the pent-up demand.

The number one question asked of an agent is, “is it a good time to buy or sell right now?” and that question is being asked even more right now. My answer to this question is always a yes and that is dependent on you doing both of those things, buying and selling at the same time. The result is generally relative because you are transacting in the same market in both directions. Of course, this question does not apply to all people because they could be either a first home buyer or a property investor wanting to only buy.

Rightly, everyone wants to buy at the lowest, some people will try and time the market, but the right property choice should determine the timing. It’s asset selection, not a timing selection, it’s time in the market not timing it and buying the wrong asset. If you are buying to again sell in 12 months to 18 months, that is a risky punt in any market, it’s my belief purchases in real estates should be made with the long term in mind.  Currently, nationally homeownership cycles are 11.3 years for homes and 9.6 years for units. So that timeframe is a minimum to hold and that is a good place to start.

If you are buying with a long term view it doesn’t matter about timing the market it matters about asset selection. If you find the right home to buy remember that an opportunity to buy it again could be 10 years down the track. No one can pick the bottom or the top of the market for that matter. Use the GFC as an example, the market fell back and bounced back very quickly. You’ll notice the real estate market has never fallen back more 10% below the previous market rise since the 1985 and this again why time in the market beats timing the market. The same could be happening now as we have a great economic stimulus and low-interest rates. This gives people the confidence to buy and remember people can easily hold property with these interest rates so it’s important to buy the right property when it comes to the market and not have timing determine your asset selection nor determine your time in this life.

housing versus stocks

The news covering the market this week:

  • First home buyers continue to surge in volume, with 12,302 first home buyers settling loans in August, equating to the highest monthly figure since October 2009 according to the Australian Bureau of Statistics.
  • The value of new loan commitments for housing rose sharply in August, up by a record 12.6 per cent
  • Aussies spend on average $1.7 billion per month on foreign purchases with their credit cards. In August foreign spending was just $664.3 million
  • A year ago in August 2019, almost 55,000 students arrived in Australia to study. In August of this year, 50 students came to Australia.
  • The weekly ANZ-Roy Morgan consumer confidence rating rose by 2.1 per cent – the most in 7 weeks – to a 19-week high.

Across OBrien Real Estate for the week we saw activity rise. 91 new listing to market, 110 properties under contract, and 85 sales. Overall sales across the state reported by realestate.com.au reveal 1021 private sales occurred up 227 from a fortnight ago.

OBrien Real Estate compnay report October 9 2020

Remember, if you’re considering selling and you launch your property onto the market with OBrien Real Estate you go into the draw to win 1 of 3 prizes with the major prize being a Volkswagen Polo valued at $26,770 including on-road costs.

That’s all for this week, I’m Dean OBrien and remember the information provided is of a general nature you should always seek independent legal, financial, taxation or other advice in relation to your unique circumstances.