Nov 21, 2023
Are you on the hunt for a reliable and experienced real estate agency to guide you through your property journey in our wonderful neighbourhood? Look no further than First National Real Estate West End. In this blog, we'll delve into the reasons why our agency stands out among the rest, and why we should be your first choice for all your local property needs. Australia's Happiest Customers At First National Real Estate, we take immense pride in consistently impressing our clients. In numerous surveys of Australian adults who have used real estate agents, we consistently emerge as the top-rated agency in the categories Australians consider important. From communication and advice to problem resolution and value for money, we earned top scores across the board. When you choose us, you're choosing an agency that goes above and beyond to ensure your satisfaction. Exclusive 5-Star Service We believe in keeping you well-informed throughout your property journey. Our agents are dedicated to providing you with all the facts and guidance you need to make informed decisions. When it comes to communication and advice, First National Real Estate stands head and shoulders above the competition. We're here to make sure you have the information you need when you need it. Problem Resolution Experts Property transactions often come with their fair share of challenges. Whether you're renting, buying, or selling, you can count on our expertise to navigate any issues that may arise. Our agents act as intermediaries, working diligently to ensure that everyone involved is satisfied with the resolution. Value for Your Money While exceptional service comes at a price, we're commercially competitive and committed to offering you the best overall value for your money. First National Real Estate consistently outranks competitors in this category. When you choose us, you're not just getting quality service; you're also getting excellent value for your investment. Comprehensive Marketing Marketing is essential in the property market, and we excel in this area. Our agents and property managers are skilled at targeting customers who are currently active in the local marketplace and attracting the right buyers or tenants. With First National Real Estate, you can trust that your property will receive the attention it deserves in the market. Expertise in Contract Handling Handling contracts is a critical aspect of any property transaction, and we leave no room for error. Our agents ensure that all parties involved are on the same page, and we don't move forward until everyone is satisfied. We're proud to consistently rate highly for contract handling, reaffirming our commitment to precision and professionalism. Additional Moving Services Moving can be stressful, and we understand that. That's why we offer assistance with essential services such as electricity and broadband setup to make your transition smoother. We're not just your real estate agency; we're your partners in settling into your new home. At First National Real Estate, we're more than just a local agency; we're your dedicated partners in your property journey. Choose us, and you're choosing excellence, expertise, and a commitment to your satisfaction. When it comes to local property needs, we've got you covered. Contact us today to experience the First National difference firsthand. Think First National Real Estate 4,000+ real estate agents across Australasia $50 billion in property assets under management 25,000+ properties sold annually 300+ offices throughout Australia, New Zealand, Vanuatu and New Caledonia Major sponsors of Kids Helpline, Australia’s only free, private and confidential 24/7 phone and online counselling service for young people aged 5 to 25. We put you first.
Nov 8, 2023
As we are now full swing into the 2024 financial year, the global economic outlook is fraught with serious uncertainty. Globally, Central Banks are in a concerted effort to get inflation back down to target levels, and almost all have tackled the problem head on with increases in local cash rates. The Australian commercial property industry is highly sensitive to movements in interest rates, both from a capital and occupancy perspective, making it more important than ever for investors, owners, occupiers and developers to understand the economic outlook. While the end of the 2023 financial year was a mixed period for the sector, with investor uncertainty, a challenging leasing market and lower transactions, this was fortunately offset by solid reported profits underpinning the commercial real estate market. The recently released Real Estate Institute of Australia End of Financial Year Economic Outlook for Commercial Real Estate report finds that while consumer confidence has been near record lows for some time now, business conditions for some sectors is still strong. “Unemployment remains near record lows, and while business confidence is flat, it is nowhere near the recessionary levels of consumer confidence,” according to REIA President, Hayden Groves. “While office vacancy rates remain high across the country, particularly in the Sydney and Melbourne CBDs, occupancy across most asset classes have held up well considering the pace of interest rate hikes are yet to fully impact. “One key driver of demand for commercial real estate is overseas migration. Both the March and September 2022 quarters were record years for net overseas migration, which is extraordinary given how strong migration intake was prior to the pandemic. Small-scale commercial assets are often a target for new arrivals keen to start a business and with reasonable supply, high-street stock is finding new occupants. “The emergence of the Build to Rent (BTR) commercial property investment category in more recent years is beginning to play an important role in providing additional housing stock where tenants are demanding it, opening additional investment channels for institutions.” Mr Groves said that even as markets are quite certain inflation has peaked, long term interest rates remain high. “In April 2021, the 10-year bond rate in Australia was 1.68 per cent, which supported low commercial property yields. Now, the 10-year bond rate is 3.47 per cent. While this is down from a peak of 3.71 per cent in February 2023, there is no significant downward trend in long term interest rates globally. “Markets remain unsure as to how long interest rates will need to remain restrictive in order to get inflation back down to target levels. “Indeed, the RBA has been clear that getting inflation back down to the target range of 2 to 3 per cent is their ultimate goal. The impact of high inflation and interest rates to the commercial property sector has been profound,” he said. According to one property group, Q4 2022 global investment volumes were down 58% year on year, a massive decline on the all-time high set in Q4 2021. According to another, prime grade office yields increased by 30bps since the low point in early 2022. However, over the same time period, the Australian 10-year bond rate has increased by 196 bps. Unless there is a major drop to the 10-year bond rate, which seems unlikely while inflation remains elevated (even if falling), capitalisation rates in the commercial property sector are almost certain to increase as we will receive more transactional evidence over the rest of the financial year. Download a full copy of the REIA report here.
Oct 31, 2023
The story of Australian homeownership is as fascinating as it is instructive. With data stretching back more than a century, the nation saw its pinnacle of homeownership in 1966 when a whopping 73% of housing stock was owned outright or with a mortgage. Since then, the number of homeowners has declined to around 63%, leaving many to ponder: What happened to the Australian Dream? The Golden Era: 1966 1966 represents more than a statistic; it symbolises a golden era when homeownership was at the heart of the Australian social contract. Just two decades after World War II, the nation was still under the influence of those who had lived through the Depression and the war years. To them, owning a home meant security, a place to raise a family, and enjoy the simple life of Australian suburbia. At the time, a typical house was a three-bedroom, one-bathroom dwelling on a quarter-acre block. It wasn't luxurious but embodied the Australian ethos of hard work, community, and modest living. Homeownership rates surged from 56% in 1947 to 70% in 1961, laying the groundwork for the 1966 peak. It was an era of promise and prosperity. Changing Times: The Decline in Homeownership Since that peak, homeownership rates have declined by 10 percentage points, which begs the question: Why? The answer lies in the shift in Australian values and social norms. By the early '70s, young Australians were making different life choices—prioritising education, travel, and career over early marriage and homeownership. The trend was also influenced by increased immigration and a diversification of cultural backgrounds. The proportion of the Australian population born overseas jumped from 14% in 1966 to 29% today, adding further complexities to the homeownership landscape. Moreover, urbanisation trends have led to a 'great push' towards cities like Sydney and Melbourne, where soaring property prices make homeownership less attainable for the average Australian. Notably, global cities attract young workers and students, creating a demand for apartments and alternative housing options. What Can Be Done? A decline in homeownership isn't just a statistic; it's a cultural shift that calls for multi-faceted solutions. It's an issue that demands bold initiatives and should be addressed at all levels of government. Policymakers have a role to play in facilitating homeownership for more Australians, especially the younger generation. One critical starting point is setting clear targets. If Australia aims to increase homeownership rates back to 73%, it would require transferring a million dwellings from the rental market to homeowners. Strategies already include first-home buyer incentives, housing grants, and tax relief measures designed to make homeownership more achievable. You can find out more about those by exploring First National Real Estate’s First Home Buyer Financial Assistance eBook. The development of affordable housing projects and an expansion of the built-to-rent sector can also be accelerated to provide a pathway for first-time buyers. It's also crucial to look at the wider economic factors. Supporting young people through affordable education and job opportunities allows them to enter the property market earlier. Re-evaluating city planning to promote housing diversity could be another game-changer. Moreover, educational programmes can help people navigate the intricacies of mortgages, interests, and home-ownership responsibilities. A more informed citizen is more likely to make decisions that lead to successful homeownership. Homeownership remains ingrained in our national psyche The essence of the Australian Dream may have evolved, but the aspiration for homeownership remains ingrained in the national psyche. While it may be unrealistic to revert to the social and economic conditions of 1966, it's possible to adopt new approaches that align with contemporary values. It's time for all stakeholders, from policymakers to citizens, to rally around a shared vision for the future of Australian homeownership. A national commitment to this vision could be the linchpin in restoring homeownership rates closer to their 1966 peak. The next census will reveal the path that Australia has chosen. However, with a collaborative effort, we believe the decline can be halted and the dream can be kept alive for generations to come. First National Real Estate wants everybody to find the right, most affordable home for them. That’s why we put ‘Your Patch’ on our website. Using the latest Census data, we can help you discover the suburbs of Australia that offer the types of housing you’re looking for, to buy or rent, and we share valuable information with you on the average mortgage or rental costs of living in those areas. Find Your Patch here… We put you first.
Oct 24, 2023
If you're a local landlord or property investor, you understand the importance of effective property management. Owning a rental property can be rewarding for investors, but it can also be demanding and time-consuming if you manage it yourself. That’s where our property management services come into play, offering you the peace of mind you deserve. Responsive Tenant Care One of the hallmarks of our property management services is our commitment to responsive tenant care. We understand that happy tenants are more likely to stay, pay rent on time, and take better care of your property. Our property managers are always just a phone call or email away, ensuring that tenant issues are addressed promptly and effectively. Whether it's a maintenance request or a general inquiry, we've got it covered, providing a smooth experience for your tenants and safeguarding your property's value. Informed Landlords Communication is key in successful property management, and we take this seriously. Our property managers keep you informed every step of the way. You’ll receive regular updates on the status of your property, including rental income, maintenance reports, and financial statements. With us, you’re never left in the dark about your investment. We believe that well-informed landlords make better decisions and have greater peace of mind. Swift Tenant Placements When it comes to finding new tenants, we excel. Our local expertise and extensive network allow us to quickly fill vacancies with qualified renters. We conduct thorough tenant screenings, including credit checks and reference verifications, to ensure that your property is in safe hands. Minimising vacancy periods means maximising your rental income, and that’s exactly what we aim for. Property Maintenance and Inspections Regular property inspections are crucial for identifying maintenance needs and ensuring that your investment remains in top condition. Our property managers schedule and carry out routine inspections, addressing any issues proactively. From minor repairs to more significant renovations, we have a network of trusted local contractors to maintain and enhance your property's value. Tailored Services We understand that every property is unique, and so are your needs as a landlord. Our property management services are tailored to fit your specific requirements. Whether you have a single property or a portfolio, we have the expertise and flexibility to meet your expectations. When it comes to property management, local knowledge and personalised service makes all the difference. Trust our experienced team to safeguard your investment, keep your tenants satisfied, and maximise your returns. Get in contact today to ask for a competitive quote for our property management services and experience the benefits of stress-free rental property ownership. We put you first.
Oct 10, 2023
As Australia's housing market continues to be a hot topic, recent census data reveals fascinating insights into the winners and losers of the home-owning game. Who actually owns Australia's homes? The answer provides an engaging narrative on the country's social fabric and paints a vivid picture of modern Australia. Age & Homeownership One of the key indicators of homeownership is age. The longer someone has been in Australia, the more likely they are to own a home. It's not surprising given that skilled immigrants usually arrive in their late 20s or 30s. Data shows that around half of this group reports owning a home within a decade of arriving. This percentage shoots up to more than 80% by the time they reach their sixth and seventh decades in the country. The Working Life Occupation plays an interesting role. In industries like agribusiness and alumina production, the rate of homeownership is notably higher. The logic might lie in the possibility of extra earnings from overtime. On the flip side, those working in pubs, cafes, and call centres are less likely to own a home. Even among younger workers, like baristas and bar attendants, only 40% manage to buy a property. Regional Variations Location also matters. In suburbs like Gisborne, Bacchus Marsh, and Camden Haven, over 80% of primary reference persons own their homes. Contrast that with areas like Port Hedland and Karratha, where the figure dips to as low as 27%. Such variations reflect the core values of Australians and immigrants alike. The Australian dream of homeownership spans decades, and most people achieve it by the time they retire. The Quintessential Homeowner So, who is the quintessential Australian homeowner? Census evidence suggests it's likely a woman in her late 60s or 70s, a Christian, possibly a former secretary, who arrived from Malta in the 1960s. Today, she lives on an acreage in Gisborne on Melbourne's outskirts. A Question of Cohesion But here lies the twist: what happens when the younger generation feels locked out of the housing market? The Australian dream remains a core aspiration, and much of our social cohesion relies on the belief that it's attainable at different stages of life. The data isn't just numbers; it's a narrative of a nation willing to strive for a home of their own. And while the picture may differ from one suburb to the next or one profession to another, the dream persists. What remains to be seen is how this dream adapts to new challenges and whether it remains attainable for all, irrespective of age, job, or origin. First National Real Estate wants everybody to find the right, most affordable home. That’s why we put Your Patch on our website. Using the latest Census data, we can help you discover the suburbs of Australia that offer the types of housing you’re looking for, to buy or rent, and we share valuable information with you on the average mortgage or rental costs of living in those areas. Find Your Patch here… We put you first.
Sep 11, 2023
Brisbane CoreLogic RP Data Market Update September 2023
Sep 11, 2023
First National Property Guide eMagazine for the Greater Brisbane, Ipswich and Moreton areas for September 2023. Click the link here - First National Magazine September 2023 This monthly eMagazine will exclusively feature the listings, profiles, and locations of First National offices in these incredible regions. Whether you’re seeking a cozy apartment, a family home, or an investment opportunity, the First National Property Guide has got you covered! Are you looking to sell now or just looking for a up-to-date market assessment of your home, you can locate a First National office near you. The First National Property Guide offers a comprehensive collection of properties from one of the most trusted brands in the industry.