Welcome to House Search News for June 2007
With interest rates on hold yet again, official rates remain steady on 6.25%. With recent reports showing business confidence is robust and consumer spending consistent, it appears that the decision by the RBA was no surprise then.
Affordability, however, continues to be an ongoing concern, with industry groups such as HIA and REI lobbying state governments to enable change, in order to make it easier for first home buyers and investors to enter the property markets. Sydney has traditionally held the tag of most “unaffordable” when it comes to prices, however Perth has recently earned itself the tag of being the “least affordable capital city in Australia for first home buyers” (HIA Affordability Report March quarter 2007).
Should you or a colleague be interested in finding out how a buyers agent can benefit you with your next home or investment purchase here in Sydney, please go to our website for further information. We would be more than happy to answer any questions you might have or to arrange an obligation free meeting to discuss your specific requirements. We aim to make buying property stress-free!
Jacque Parker and Theresa McHale
House Search Australia
Another success story…
House Search Australia were able to help yet another overseas client this month by achieving a sale for $25000 less than what they were prepared to pay. That’s a ROI (return on investment) of over 300%!! Another example of how our fees can pay for themselves over and over again…..
Market Update – Sydney Property News
Though the majority of the Sydney market remains flat, according to statistics just released recently from REINSW for the March 07 quarter, the “lifestyle” suburbs still appear to be defying the trend, according to the industry report.
“The older, more settled areas with good public transport infrastructure, with perhaps a ferry, have held up. Although the pattern across the city is unpredictable, it does seem that homes near water and with easy access to the city are proving popular” says Cristine Castle, president.
Historically low vacancy rates are also tight, with inner city rates not much above 1% and the current average rate around 1.4% Rents are on the rise as demand outstrips supply.
Our view here at House Search is that there are opportunities to be had, especially in blue chip areas of Sydney, with properties that meet the fundamentals recently selling, sometimes at a loss to what their purchasers paid in 2003.
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HELP FOR HOME BUYERS – Six Tips To Make It Easier
Consumer advocate Neil Jenman penned this article recently, where he suggests a number of tips to make it easier for home buyers. Simple they may be, but it doesn’t hurt to have a reminder list.