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Sep 2, 2019
TIPS FOR SUCCESSFUL SPRING HOME SELLING
First National Real Estate has some great tips for homeowners seeking to capitalise on the traditional peak spring selling season. According to George Koukides, principal from First National Real Estate Metro, Spring usually has the largest number of buyers actively seeking a new home. “Regardless of whether it is a buyer’s or a seller’s market, spring is when buyers turn their minds to buying a house,” George said. “So it makes sense for sellers to put their minds, or shoulders, into gear and spruce up their homes.” The first step to presenting properties in the best possible light is to stick to the basics and do general repairs around the home. Make sure things are in proper working order. There are no loose roof tiles, or creaky floorboards, or that guttering is not coming away from the house. Fix any chips and cracks in walls, ceilings and skirting boards. “Perhaps consider giving the whole house a face lift with a fresh new paint job inside and outside the home,” George said. “The tip here is to make sure you stick to neutral colours, both internally and externally and this will ensure your home has a light, clean and bright look.” ‘Clean and Tidy’ is the name of the game, even if a house is a little traditional and outdated, it will still make an impact if presented properly. “A real spring clean is always a good idea and that means cleaning carpets, windows, curtains and blinds and polishing floors, silverware and glassware around the house,” George said. “Make sure clutter is gone to maximize use of the space available. Get rid of everything you don’t need. Be minimalistic in your approach. If it’s not essential for day-to-day living, toss it out or put it into storage.” An area that is often neglected, or forgotten, is the garden. It is critical to get the balance right between a well-presented garden and not being seen as extravagant. “If you have a lush, green garden, but no water or waste management devices you may turn people off,” George said. “Paved areas and courtyards, drought-tolerant plants, native flora and potted spring flowers and shrubs are now more sought after by buyers.” Another garden tip is to rake the yard and keep it clean of any debris. Trim back bushes so that windows and paths are not impeded and let in lots of sunlight into your home. “Windows that allow sunlight to stream inside makes the home much more inviting and visually appealing,” George said. There are a few home-staging tips that can also produce some great results. Introduce colour and fragrance indoors with some strategically placed vases, complete with fresh-smelling flowers. Another decorator favourite is to accent bathrooms, sofas and beds with inexpensive items such as colourful towels, throws and pillows. And for real impact, consider setting out some tasty snacks such as individually wrapped treats in colourful cellophane or pretty ribbons. A well presented home will attract greater numbers of potential buyers and increase competition, translating to possibly as much as a five to 10 per cent increase in the selling price.
Jan 22, 2019
A Summary of Sydney and Melbourne's Markets
Sydney and Melbourne are seeing decreases while the rest of Australia is stable or seeing growth, why is this? There are a few factors causing this. In this post, we explore some of the reasons Sydney and Melbourne have been seeing decreases in their dwelling values as explored by Corelogic. First off, we have the tightening of financial conditions. This has been more pronounced in the investment segment of the market. This has impacted Sydney and Melbourne on a greater level as these capital cities have recorded much higher concentrations of investment demand. Therefore, as investment activity reduced, the fallaway in housing demand is much sharper in Sydney and Melbourne. Housing affordability constraints are more pronounced in these markets and rental yields are substantially lower. This indicates an imbalance between rental values and dwelling values. The ramp up in housing supply in Sydney and Melbourne has also been more significant than other parts of Australia. This is in the face of lower demand from both interstate and overseas migration. Additionally, Sydney and Melbourne have also been more affected by the reduction of foreign investment activity in Australia. Because of less market activity, advertised listings have surged higher, providing buyers with ample choice within the market. This leaves buyers with greater power at the negotiation table regarding price. According to Corelogic data, clearance rates have been tracking at a low 40% range, while private treaty sales are slowing substantially. Resulting in longer selling times and larger rates of discounting than Melbourne and Sydney have seen over recent years.
Jan 2, 2019
Summer Selling Checklist – Preparing your Property to Sell in the New Year
As the Christmas holidays come to an end, the property market returns from its break as buyers return to the market. This checklist will help you take the first critical steps needed to sell your property in in 2019. 1. Research the Market The property market is always changing. It’s important that you have a good understanding of what’s happening in your area before listing your property. We frequently share trusted information about the National and Brisbane housing markets to help you have a good understanding. Another great way to grab a sense of what to expect is through observing the market in your local area for six to eight weeks. Watch for properties enter the market and sell within that period to have a stronger understanding of what properties are selling for and what you can afford to buy. 2. Physically compare your property with others in your neighbourhood While observing online is a great way to build understanding of your property’s position within the market - attending open houses of nearby selling properties can help you be more informed in your comparison. This will also help you to compare the service of Real Estate agents. 3. Get a pest and building inspection Getting a pest and building inspection will help you through highlighting any issues with your property and give you the option to fix these issues prior to placing your property on the market. These could be key features which could be identified by buyers, which could result in a longer time on the market. If you get these issues repaired, you can ask the inspector for a top-up report which you can include in your sales document. 4. Clean and Declutter The less that is in the property, the better it will look. Don’t show off what the home has given you, rather clean it out and give it a fresh look. This will help buyers see what the home can give them. If you’re serious about selling your property, there is no better time than now to declutter home. Go through all your belongings and mark them as ‘keep’, ‘sell’, ‘donate’ and ‘trash’. Keep – items that are important to you and you will use in the future. Sell – items that are of worth on outlets such as eBay or Gumtree. Donate – items which are in good quality but not necessarily worth the time listing for sale. Trash – out-of-date items. 5. Create a great first impression The first thing anyone is going to see of your property is the front lawn and garden. And because first impressions really do matter, be sure to keep your front yard neat and tidy. This will help to impress any potential buyers who see your property.
Nov 15, 2018
National Listings in Spring See Increase
Despite listing numbers starting to wind up, the number of freshly listed property remains well below the previous years. This is reflecting a deterioration in vendor confidence nation-wide. Although listing numbers are lower than previous years, the total properties available on the market have increased to be 9.5% higher than one year ago across the combined capital cities. This is not the result of vendors dumping on the market, but rather a slower rate of absorption in Melbourne and Sydney.