M A R K E T
S U M M E R
P U L S E
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C21
PUBLISHER Century 21 Australia Pty Ltd
CONTRIBUTORS Chelsea Tromans Elite Agent Magazine Tim Lawless Chris Gray Bradley Beer Terri Scheer Landlord Insurance On The Move
EDITORIAL ENQUIRIES Century 21 Australia (02) 8295 0600
ADVERTISING ENQUIRIES
WELCOME TO THE
SUMMER 2020 ISSUE OF
C21 MARKET PULSE
Century 21 Australia (02) 8295 0600
DISCLAIMER We have in preparing this information used our best endeavours to ensure that the information contained therein is true and accurate, but accept no responsibility and disclaim all liability in respect of any errors, inaccuracies or misstatements contained herein. Prospective buyers and sellers should make their own enquiries to verify the information contained herein. All information contained in the CENTURY 21 Australia Pty Ltd website is provided as a convenience to clients. All links to property prices displayed on the website are current at the time of issue, but may change at any time and are subject to availability. For more information on our Privacy Policy please refer to: www.century21.com.au/privacy
C O N T E N T S S U M M E R
AUCTION SECRETS
02-03
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CLAIMING DEPRECIATION
The expert secrets to winning an auction.
Are you claiming depreciation on your
Home Beautiful Magazine Editor, Chelsea Tromans
investment?.
08-09
BMT Tax Depreciation, Bradley Beer
EXPANDING NETWORK
04 PET-OWNING TENANTS
Century 21 opens new Sunshine Coast office.
10-11
Add over $6,000 in annual rent – with pets.
Elite Agent Magazine
Terri Scheer Landlord Insurance
PROPERTY MARKET UPDATE
05 MOVING WITH PETS
Dwelling values rise in October, the fourth consecutive month of growth.
5 smart strategies to make moving with pets
Corelogic Head of Research, Tim Lawless
stress-free.
12
On The Move
THE TIME IS NOW
06-07 PROPERTY 14-15
It’s not too late to buy.
Suburbs and regions to watch.
Your Empire CEO, Chris Gray
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AUCTION SECRETS
The expert secrets to winning an auction BY CHELSEA TROMANS, EDITOR, HOME BEAUTIFUL MAGAZINE
How to get the home you want when it goes under the hammer. Auctions are daunting, and it can be hard to not get caught up in the thrill of outbidding the competition. But with a good auction strategy at the ready, you’ll be well placed to be the proud owner of your dream home when that hammer drops, without overpaying.
While an auction may not be your
their mind or accept another offer
first choice when it comes to buying
without giving you the chance to
a house, there are a lot of benefits
negotiate. Auctions allow you to see
to you as the buyer. “Auctions can
your competition and know exactly
work for a buyer who is willing to
where you stand.
pay market value,” says Charles Tarbey, Chairman of Century 21 Australasia. “It’s definite and on the fall of the hammer it’s yours,” adds Mr Tarbey, who notes that during private sales there’s always a risk that the vendor may change
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Every auction is different, however there are some strategies that can help you go in strong and hopefully come out on top. Here, we share expert tips for winning an auction.
WAIT TO PLACE YOUR FIRST BID
BID WITH ROUNDED FIGURES
bidder. “Agents will always be
“Often it is best to let the bidding
It is best not to place bids of odd
updated on your position, without
start and move in at a later stage
numbers, such as $649,500, as
giving everything away,” says
with a strong bid,” advises
someone will always go the extra
Mr Tarbey. “I have seen many
Mr Tarbey. This gives you a chance
$500. Instead, go in with an even
instances where buyers were upset
to size up the competition, figure
number – and if your opponent
at missing out, making comments
out when the property is on the
tries to slow down the bidding
such as ‘I would have paid more if
market (once the reserve price has
with small increments, go in above
I knew it was going to sell for that
been reached), and it also weeds
them with that extra $500 or so, to
amount’ and blaming the agent,
out those who are just looking
immediately put yourself back into
but were coy when the agent was
for a bargain.
first place.
seeking information.”
MAKE YOUR FIRST BID A STRONG FIGURE THAT REFLECTS THE MARKET VALUE
GO IN WITH A COUNTER BID QUICKLY AND CONFIDENTLY
SET A BUDGET AND STICK TO IT
Bidding quickly after another bid
make at an auction is not setting a
In today’s transparent world where
is received lets people know you
maximum price they can afford to
property values and estimates can
are serious and will also help you
pay... and sticking to it. At the end of
be found on bank apps and the
identify who your competition is.
the day, as much as you may fall in
available to guide you through the process, so you need to keep them
love with a property and as close as
like, there’s little point starting off too low. Everyone at the auction will have a clear idea of what the property is worth and will have come prepared to pay that price, just like you. It’s advisable to start near where you want to end and that way you knock out a lot of the low bidders immediately.
One of the biggest mistakes buyers
TALK WITH THE REAL ESTATE AGENT
you might think you are to winning, you should never exceed your predetermined budget.
It can be tempting to hide away in the back corner and fly under the radar, but it’s important that the real estate agent and auctioneer see you and know that you’re a serious
ABOUT THE CONTRIBUTOR Home Beautiful is Australia’s fastest growing homemaker brand. With beautiful original photography, gorgeous styled stories and signature inspirational how-tos, Home Beautiful is simply one of the most loved, most recognised and commercially successful brands in Australia.
www.homebeautiful.com.au
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EXPANDING NETWORK
CENTURY 21 OPENS NEW SUNSHINE COAST OFFICE Century 21 has celebrated the opening of its newest Queensland office, Century 21 Living Local in Woombye. Led by Principal Gary De Paoli, who has more than 15 years’ real estate experience, Century 21 Living Local will service clients in the Sunshine Coast region of Queensland. Mr De Paolo’s agency Riddell Real Estate has been selling and managing properties within the region since it was first established in Woombye in 1991.
“Transitioning from my independent
“Gary is a well-respected and
office to a global franchise network
renowned agent in a long-standing
is an experience that has been
local business of 28 years,” he said.
rewarding, supportive and full of opportunity,” Mr De Paoli said.
“We are confident Gary and his team will achieve continued success
“We can clearly foresee this
through their local knowledge and
transition to Century 21 increasing
dedicated service to their clients
our presence in both the local
which is now enhanced with the
and national markets as we utilise
vast resources our global C21 brand
the latest technology, training,
can provide.”
marketing that the C21 brand actively provides.” Century 21 Australasia CEO Warren McCarthy welcomed Mr De Paoli and his team to the fold, and said he was excited about the future of the Woombye office.
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The story Century 21 opens new Sunshine Coast offi ce, fi rst appeared on Elite Agent. View the full article here: https://eliteagent.com/century-21celebrates-new-offi ce-in-woombye-qld/
P R O P E R T Y M A R K E T U P DAT E
DWELLING VALUES RISE IN OCTOBER, THE FOURTH CONSECUTIVE MONTH OF GROWTH The October result was the largest month-onmonth gain in the national index since May 2015. The recent gains come after a broad-based decline in housing values, with the national index declining 8.4% between October 2017 and June 2019. The positive October result takes national dwelling values 2.9% off their June 2019 floor, however values remain 5.7% below their peak, highlighting that despite the recent gains, home values are at a similar level to where they were three years ago. The strongest growth conditions continue to be centered in Melbourne and Sydney, however dwelling values trended higher across most of the capital cities as lower mortgage rates and improved credit availability spurred on buyer demand. Dwelling values were up across every capital city apart from Perth over the month, and based on the rolling three-month change, the only capitals where values fell were Perth (-1.7%) and Darwin (-1.2%). According to CoreLogic research director Tim Lawless, the stronger
BY T I M L AW L E S S , CO R E LO G I C H E A D O F R E S E A R C H
rebound in Melbourne and Sydney
recorded the largest three month
can be attributed to a blend of
rise in values since March 2019
factors; tighter labour market
and May 2017.
conditions and stronger population growth relative to the other capitals, coupled with the stimulatory effect of the lowest mortgage rates since the 1950’s, and improved access to credit. Stamp duty exemptions for first home buyers purchasing under specific price points have added additional stimulus to housing demand.
The downwards trend in Perth and Darwin home values has continued, however both markets are showing an improvement in the trend rate of decline. The rolling three-month trend in Perth housing values recorded the smallest decline in fourteen months (-1.7%) and Darwin dwelling values posted a rare monthly rise in October. Both
The recovery trend in Melbourne
cities have seen dwelling values
overtook Sydney in October, with
consistently trending lower since
dwelling values surging 2.3% higher
mid-2014, with Darwin down a
over the month; the largest month-
cumulative 31% and Perth values
on-month gain since November
22% lower. Perth is now recording
2009. Melbourne housing values
the lowest median house value of
have recovered 6.0% since moving
any capital city ($451,800) and
through a trough in May 2019,
Darwin house values are a close
while Sydney values are up 5.3%
second with a median of $468,300.
since the recent May low.
Unsurprisingly, the Northern
The smaller capitals have delivered a mixed performance, although the general theme is one of improving conditions. The rolling threemonth change in Brisbane housing values (+1.1%) was the highest since December 2015, Adelaide (+0.1%) posted the strongest rolling quarter since December 2018, while Hobart (+1.0%) and Canberra (+2.4%)
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Territory and Western Australia are also showing the highest proportion of first home buyer activity, with first time buyers not weighed down by negative equity and with the ability to take advantage of very affordable housing in these regions.
THE TIME IS NOW
IT’S NOT TOO LATE TO BUY B Y C H R I S G R A Y, C E O, YO U R E M P I R E
The silly season is almost upon us and the shops are full of festive decorations. There’s only a handful of weeks left before Christmas and so many buyers have given up on their thoughts of buying a home or investment property in 2019. But all is not lost, there is still time and it could actually be the best time to be buying, not the worst.
this year, I wouldn’t be setting your hopes too high as it’s probably not going to be happening. However, if you are still wanting to find a property, then I would keep your energy up and this is often the best time to be looking as many of the other buyers will already have given up, leaving a door open for you.
Most property advertising and marketing campaigns run for 4-5 weeks and so if the property hasn’t been listed on a portal yet, it’s true, there isn’t much chance of many being listed between now and the new year. A typical property settlement is 42 days from exchange of contract and so if you’re planning on moving in
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CONCENTRATE ON THE CURRENT LISTINGS Whilst auction clearance rates are significantly higher than last year, they’re still not 100% and so there’s no guarantee of a property selling. If owners do need to sell, they’ll be hesitant about leaving it to the last minute and more likely to take a pre-
auction offer as they know that if the
TRY AND PICK UP A 2020 LISTING IN 2019
If a vendor doesn’t sell in Nov/Dec
Agents are still listing properties
re-list the property (end Jan) to get
now and are advising their clients to
the most exposure. Then they will
GO TO EVERY AUCTION
wait till early next year to start the
have another 4-5-week campaign
advertising and marketing campaign
(end Feb) and then 42 days to settle
Owners with properties that don’t
to give it the best chance of selling.
and so they won’t be seeing any
sell at auction will be under massive
However, they still maybe open for
cash until mid-April. This makes it a
pressure to negotiate a deal either
offers and get some extra revenue
massive incentive to do a deal in the
that day or in the days following.
into this year. As you go around
next few weeks and so make sure
Being the highest bidder will give
the open homes, ask them what’s
you don’t miss out.
you the first chance to negotiate
coming up and who might be open
and even if you’re not, make sure
to an early guaranteed deal.
auction campaign fails, they’ll only have a few more days to negotiate a deal before the market closes.
2019, chances are, they’ll often be waiting till after Australia Day to
the agent knows that you’re still interested and willing to make a further offer.
NOT ALL AGENTS GO ON HOLIDAY
AGENTS WANT TO GO ON HOLIDAYS
The earliest deal I’ve ever done was
Real estate agents work hard and
vendors wait to make sure all the
they look forward to a good 6 weeks
buyers are back from holiday. Some
off if they can from mid-December
like to get an early start to the New
to Australia Day and so they’re very
Year as whilst there may not be lots
keen to sell off their final listings of
of buyers, there’s also not many
the year as that means they can
competing properties and so the
have more time with their families.
odds of success might actually
If the property you want to buy is
be higher.
in the first week of January as not all agents go on holiday and not all
the last listing they need to sell, work on their emotions as you put in your offer.
DEALS STILL HAPPEN ON CHRISTMAS EVE
CONSIDER USING A PROFESSIONAL TO HELP YOU Buyers agents often have very good working relationships with sales
ABOUT THE CONTRIBUTOR
Whilst most deals will be done
agents and have often done many
and dusted by mid-December, not
deals together over the last decade
Chris Gray is CEO of Your Empire, a buyers’
everything will have sold. Many
or two. They are used to getting
time-poor people – searching, negotiating,
buyers will have already disappeared
off market deals that often aren’t
renovating and managing property on their
off on holidays and that creates an
advertisied to the public. This could
opportunity for those that are still
make it the perfect time to avail
around. Check in with your solicitor
of their services and could make
various heads of property research
or conveyancer to make sure they
the difference between securing a
companies and major industry figures. Chris
will still be around and happy to take
property now versus waiting another
a last-minute call.
3–4 months until the market is back in full force.
agency that buys homes and investments for
behalf. Chris has spent over 10 years as the host of ‘Your Property Empire’ on Sky News Business channel, where he’s interviewed
is a qualified accountant, buyer’s agent and mortgage broker. For more information visit www.yourempire.com.au, www.chrisgray.com.au and follow Chris on Twitter: @ChrisGrayEmpire.
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C L A I M I N G D E P R E C I AT I O N
ARE YOU CLAIMING DEPRECIATION ON YOUR INVESTMENT?
BY BRADLEY BEER, B M T TA X D E P R E C I AT I O N
With the beginning of each new financial year, it’s important to remind investors the benefits of organising a tax depreciation schedule for their investment properties. The Australian Taxation Office (ATO) requires property investors to report income earned from an investment property as part of their annual income tax return. The ATO also allows investment property owners to claim deductions for the wear and tear which occurs to the building structure and its fixtures over time. This claim is called deprecation.
take full advantage of property
perform a detailed site inspection
depreciation and are missing out on
to take measurements, notes and
thousands of dollars in their pockets.
photograph each of the assets
Another reason investors fail to claim depreciation is because they assume that their accountant will look after all of the deductions they can claim for their property. However, depreciation claims require the expert advice of a specialist quantity
an investment property contains. They will also liaise with relevant authorities such as local councils to gather the information necessary to complete the comprehensive tax depreciation schedule for the owner. A depreciation schedule will provide information
surveyor. The
for the two types
ATO recognise
“...depreciation is a non-cash deduction. This means an investor doesn’t need to spend any money to be eligible to claim it.”
quantity surveyors under Tax Ruling 97/25 as one of a selected group of professionals
Unlike other expenses an investor
with the
can claim, depreciation is a non-
knowledge
cash deduction. This means an
necessary to estimate
investor doesn’t need to spend any
construction costs for
money to be eligible to claim it.
depreciation purposes.
Research shows 80 per cent of
Expert quantity surveyors, like the
property investors are failing to
team at BMT Tax Depreciation, will
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of deductions an investor can claim, the ‘capital works’ deductions for the building structure and the depreciation of ‘plant and
08
equipment’ assets. It will also outline the deductions using both the prime
CENTURY 21
cost and the diminishing value method. The investor can speak with
“
Research shows 80 per cent of property investors are failing to take full advantage of property depreciation and are missing out on thousands of dollars in their pockets. – BRADLEY BEER
their accountant for further advice
residential properties (where
Given the changes to legislation
on which method best suits their
contracts exchanged after 7:30pm
surrounding the depreciation of
individual investment strategy.
on 9 May 2017) can no longer claim
plant and equipment assets, it is
depreciation on existing plant and
important to ask questions and
equipment assets located within
seek further advice from a quantity
their property. However, there are
surveyor to discuss potential claims.
Investors should also be aware of some important details regarding changes to depreciation legislation. There are some key dates and factors investors need to be aware of. On 15 November 2017, Parliament passed the Treasury Laws Amendment (Housing Tax Integrity) Bill 2017, which brought about some major changes to ‘plant and equipment’ depreciation claims. The legislation changes mean that owners of second-hand
still thousands of dollars to be claimed by Australian property investors, as there has been no change to ‘capital works’ deductions or building write-offs, which typically make up between 85 to 90 per cent of an investor’s total claimable amount.
ABOUT THE CONTRIBUTOR Article provided by BMT Tax Depreciation. Bradley
Investors who have already
Beer (B. Con. Mgt, AAIQS, MRICS, AVAA) is the Chief
purchased prior to this date can
Executive Officer of BMT Tax Depreciation.
continue to claim depreciation
Please contact 1300 728 726 or visit
deductions as before.
www.bmtqs.com.au for an Australia-wide service.
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P E T- OW N I N G T E N A N T S
ADD OVER $6,000 IN ANNUAL RENT – WITH PETS Many landlords are wary of embracing pet owners as tenants, owing to concerns about stained carpets and chewed door frames. But petfriendliness could be a major boost to your bank balance, as pet-owning tenants are often willing to pay extra rent.
BY TERRI SCHEER LANDLORD INSURANCE
owners in 2017 were given up due
your neighbours and lead to friction.
to accommodation issues – and
For all of these reasons and more,
Dogs Victoria conducted a survey
Australian landlords generally have
that revealed over 40% of dog
an unfavourable attitude towards
owners had trouble renting.
pet-owning tenants. But that attitude
“The ability to move into a rental property with your pet is an issue
with a pet can be an instant turnoff, which is why many animal owners have a difficult time finding
“Tenants who find a pet-friendly
says Greg Bader, CEO of Rent.
rental property may choose to sign
“For around one third [of renters], the right to pet ownership is crucial. our listings, landlords and agents choose not to specify whether pets
less than 10% of available rental properties accept tenants with pets, while hundreds of pets are forfeited to animal rescue organisations each year when their owners can’t find a
left this open to their discretion.”
PROS AND CONS OF PETS Many landlords fear the potential damage an animal can do – they can scratch the floors, stain the flooring and mess up the carpets.
suitable rental property to live in,”
The ‘pet smell’ from the animal’s
says Carolyn Parrella, executive
fur or excrement can also leave a
manager of Terri Scheer Insurance.
lasting stench, particularly if you
According to the Australian Veterinary Association, 30% of dogs and cats that were abandoned by
longer leases, knowing they can keep their beloved pets. This could mean landlords are able to rent their properties sooner and reduce advertising costs,” says Parrella.
will be accepted or not – they’ve
homes to rent. “Industry figures suggest that
ways than one.
that hits close to home for renters,”
However, we find that, with most of For landlords, a prospective tenant
could be costing landlords, in more
have wood furnishings, as the smell penetrates the material. If you live in a high-density apartment complex, the noise a pet makes can disturb C21 MARKET PULSE
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EXTRA INCOME Furthermore, landlords might discover that, by becoming petfriendly, they could pick up a sizeable amount of additional rent along the way. According to the Dogs Victoria survey, pet-owning tenants generally agree to special provisions in the rental contract, including pet bonds, additional cleaning fees and increased rent. For these tenants, spending a little more for their pet’s sake is a small price to pay.
In fact, pet owners are likely to
partially overcome, Parrella explains,
“Often, both parties would agree to
fork out up to 14% more rent than
by “petproofing your properties
have one small dog, and they end
usual for a pet-friendly rental
and having an appropriate landlord
up with two or three dogs, which
property, according to the Australian
insurance policy”.
cause trouble. Or tenants would
Companion Animals Council.
“Pet-proofing can include installing
carry a dog in, then smuggle it in and out. That’s quite common,”
Consider this: if your area’s median
animal runs to enclose cats and
market rent is $600 per week,
dogs in specific areas of the home,
as a landlord you could earn an
or replacing carpets with tiles and
“What is important from both
extra $4,370 each year simply by
floorboards that are easier
parties is common sense and an
allowing Fido to reside there. This
to maintain.”
understanding of what’s reasonable.
was a light-bulb moment for Sydney investor Kade, who owns a unit in a small boutique complex in Brisbane around 2km from the CBD. Kade earns over $6,700 more per year in rental income than another landlord in the complex, simply because he allows the tenant to have a pet dog. “I get $130 more rent a week than the person with the unit above me – who should be getting a little a bit more than me, simply for being a floor above – because I let my tenant have a pet,” he says. “She’s been there three years and just renewed for another year. The unit is immaculate, and there have never been any complaints from neighbours.” Allowing your tenant to have a pet can be a relatively safe bet with the right systems in place. For instance, in Western Australia, landlords are allowed to charge a one-off pet bond of $260. In 2017, Victoria’s state tenancy laws were also modified to allow renters to keep pets, unless otherwise indicated in the body corporate or strata by-laws.
THE RULES AROUND PETS Many landlords worry about the damage a pet can cause, and rightly so – an untrained dog or cat could cause chaos, in terms of mess, stains and smells. But your fear of pet damage can be
For Kade, it’s also about knowing what rights are actually afforded to a landlord in a strata property. “From my experience on many strata committees, I think a lot of owners assume all strata buildings have a no-pet policy in the by-laws, so they think there is no use in them even thinking about allowing their tenant to have a pet,” he says. “But often the strata plans are registered with the default option – that the body corporate cannot reasonably refuse to give permission for a pet.” The key to making such an arrangement work for both landlord and tenant is to foster openness in coming to an agreement. For Kade, this included working out an agreement with the tenant to obtain
Gunning says.
There is regulation now. If it’s a strata-title building, which a lot of inner-city buildings are, then the strata corporation will have parameters around tenants and owners having pets. In most cases, [it involves] the registration of that animal with the strata and with the managing agent.” Ultimately, allowing a tenant to keep a pet on a rental property can have a lot of upside, he says. “In most cases, there’s no problem. I live in an apartment myself in Surry Hills, and it’s very transparently pet-friendly. A landlord in Australia needs to be open-minded as far as pets are concerned,” Gunning says. “By allowing tenants with pets, you’re appealing to a broader market.”
the pet’s details, including the ID chip number, registration certificate, and vet information. “Customers are putting in the effort to not only create a profile for their pets but then share that information with prospective landlords and property managers to improve their odds of application success,” says Rent’s Bader.
The information contained in this article is intended to be of a general nature only. Terri Scheer does not accept any legal responsibility for any loss incurred as a result of reliance upon it. Insurance issued by
This honesty is crucial, as messy situations can and have happened when one party has been dishonest or unclear. Real Estate Institute of Australia president Malcolm Gunning has seen and heard of many such cases.
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ABOUT THE CONTRIBUTOR
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Vero Insurance. Read the Product Disclosure Statement before buying this insurance and consider whether it is right for you. Contact Terri Scheer on 1800 804 016 or visit our website at www.terrischeer.com.au for a copy. https://www.terrischeer.com.au/
MOVING WITH PETS
5 SMART STRATEGIES TO MAKE MOVING WITH PETS STRESS-FREE
BY ON THE MOVE
Moving house is stressful enough for humans, but it can be a frightening time for your pets. Dogs, cats, and other household pets can feel anxious and distressed as they don’t understand why everything in their environment is changing and being moved. Even as you’re busy packing boxes
assist your pet settle into their new
and checking on the removalists,
home quickly.
take time to give your pets a little extra attention and care. Follow these strategies to make a move with
5. GIVE YOUR PET TIME TO ADJUST AND SETTLE Give your dog or cat plenty of
3. ON MOVING DAY
time to get used to the new
furry family members stress-free for
It might be a good idea to board
place. Barking, digging, and other
you and your pet.
your pet or have a friend look after
destructive behaviours could be a
your pet during the move. If your
sign of stress from the move, so be
pet is staying with you during the
patient and comfort your pet instead
move, assign a room for your pet and
of punishing them for problematic
create a safe sanctuary for him or
behaviour. Similarly, stay with your
her. Keep the door locked and secure
usual daily routines when it comes
the room to eliminate the risk of
to feeding, walking, and playing with
escape and injury.
your pets. Avoid leaving your pets
1. SCHEDULE PRE-MOVE VISITS If you’re moving to somewhere nearby, take your dog or cat for visits in the days before your move and give them a chance to get used to your new home. Explore your new neighbourhood - Is there a dog park nearby? Where is the nearest vet? It helps to understand what your pet’s new routine will be like.
home alone for the first few days
4. PROVIDE THE RIGHT LEVEL OF ATTENTION
after your move.
After the move, give your pets the right amount of attention to help
2. PACK LAST, UNPACK FIRST Pack your pet’s items at the last minute so your dog or cat can have the comfort of their bed and toys during the move. Avoid washing bedding for a week or two after your move. Once you’re at your new place, set out their food and water bowls as soon as possible. The familiar smells of their items can
them adjust more quickly. Avoid making a fuss of your dog or cat since they can interpret this in the wrong way and worry unnecessarily. Spend time with your pet as you normally do without making a fuss,
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A DV E RT I S E M E N T
PROPERT Y
THE REGIONAL RISING STARS
ONES TO WATCH
“Up-and-coming locales generally boast a lower entry pricepoint”
More and more of us are leaving the big smoke in favour of more affordable suburbs just out of town. “Regional areas are now almost part of the major cities,” explains Charles. “With freeways and other modes of transport improving dramatically, many of the slightly outlying areas will achieve better growth to a point of catching up with city locations.” According to IF YOU’RE IN THE MARKET TO BUY, OR THINKING ABOUT IT, The Price Predictor Index Report by real estate researchers REMEMBER TO KEEP CLOSE Hotspotting, the suburb of Golden Square, A Bendigo, has EYE ON THE UP AND COMING SOtheYOU GET IN EARLY AND BEAT THE BOOM been steadilyAREAS growing over last yearCAN and may be primed for a property boom (the median house price is currently IN ASSOCIATION WITH $325,000); Geelong and Ballarat are other spots to watch in Victoria. In NSW, demand is rising in Newcastle and the Hunter Valley region, while up north, Queensland’s “Golden THE HOT SPOTS Triangle” – the area between the Gold Coast, Sunshine Coast and Ipswich – has high-growth potential thanks to its Auburn is now nudging the thriving tourism industry, interstate migration and strong trendy inner west local economy. Eveleigh has been tagged as Australia’s answer to Silicon Valley, THE NEW AUSTRALIAN CENTRES as tech companies, apartment As falling property prices in Sydney and Melbourne dominate developments and shopping centres the headlines, Adelaide is quietly enjoying stable-to-slowly transform the once-sleepy suburb. rising prices – and is proving the breakout star in the Australian market. Property researcher Location Score recommends Reynella, O’Halloran Hill and Birkenhead as up-and-coming South Australian suburbs; they all sit within 20 kilometres of the city centre with median prices in the $350,000$450,000 bracket. Charles also points to Brisbane and Canberra as smart options for savvy investors – according to the Financial Review, the latter enjoyed a 3.3 per cent increase in property values last year. Meanwhile, Hobart stirs up mixed reviews – after a veritable housing boom, some experts warn that the city may have passed its peak.
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Lemington, Maidstone, West Footscray and St Albans are more bang for your buck with good access to the city and a melting pot of cultures and cuisines.
n the fast-paced world of real estate, it’s best to keep one eye on the future. “Areas that will trend going forward – rather than areas that are trending right now – are the ones to look out for,” advises Charles Tarbey, Chairman of real estate group Century 21 in Australia. Up-and-coming locales generally boast a lower entry pricepoint – offering potential for capital growth – and are underpinned by growing employment hubs and new infrastructure. So where should you be setting your GPS for those Saturday morning inspections? Read on to uncover the housing hotspots of tomorrow.
FOR HELP WITH BUYING AND SELLING PROPERTY VISIT C21.com.au
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THE REGIONAL RISING STARS More and more of us are leaving the big smoke in favour of more affordable suburbs just out of town. “Regional areas are now almost part of the major cities,” explains Charles. “With freeways and other modes of transport improving dramatically, many of the slightly outlying areas will achieve better growth to a point of catching up with city locations.” According to The Price Predictor Index Report by real estate researchers Hotspotting, the suburb of Golden Square, Bendigo, has been steadily growing over the last year and may be primed for a property boom (theREGIONAL median houseRISING price is currently THE STARS More and and more of us are big smoke in favour of $325,000); Geelong Ballarat areleaving otherthespots to watch more affordable suburbs just out of town. “Regional areas are in Victoria. In NSW, demand is rising in Newcastle and the now almost part of the major cities,” explains Charles. “With Hunter Valley region, while north, “Golden freeways and up other modesQueensland’s of transport improving dramatically, many of the slightly areas willSunshine achieve better growth Triangle” – the area between the outlying Gold Coast, pointhigh-growth of catching up with city locations.” Coast and Ipswichto–a has potential thanksAccording to its to The Price Predictor Index Report by real estate researchers thriving tourism industry, interstate migration strong Hotspotting, the suburb of Golden and Square, Bendigo, has local economy. been steadily growing over the last year and may be primed for a property boom (the median house price is currently $325,000); Geelong and Ballarat are other spots to watch Victoria. In NSW, demand is rising in Newcastle and the THE NEW inAUSTRALIAN CENTRES Hunter Valley region, while up north, Queensland’s “Golden As falling propertyTriangle” prices –intheSydney and Melbourne dominate area between the Gold Coast, Sunshine the headlines, Adelaide quietly– enjoying stable-to-slowly Coast andis Ipswich has high-growth potential thanks to its thriving tourism industry, interstate migration and strong rising prices – and is proving the breakout star in the Australian local economy. market. Property researcher Location Score recommends
Reynella, O’Halloran Hill and Birkenhead as up-and-coming THE NEW CENTRES South Australian suburbs; they allAUSTRALIAN sit within 20 kilometres As falling property prices in Sydney and Melbourne dominate of the city centre the withheadlines, medianAdelaide pricesisinquietly the $350,000enjoying stable-to-slowly $450,000 bracket. Charles to Brisbane rising prices – also and ispoints proving the breakout starand in the Australian Canberra as smartmarket. options for savvy investors – according Property researcher Location Score recommends Reynella,the O’Halloran Hill and Birkenhead up-and-coming to the Financial Review, latter enjoyed a 3.3 peras cent South Australian suburbs; they all sit within 20 kilometres increase in property values last year. Meanwhile, Hobart stirs of the city centre with median prices in the $350,000up mixed reviews $450,000 – after a bracket. veritable housing boom, some and Charles also points to Brisbane smarthave options for savvy experts warn that Canberra the city asmay passed itsinvestors peak. – according to the Financial Review, the latter enjoyed a 3.3 per cent increase in property values last year. Meanwhile, Hobart stirs up mixed reviews – after a veritable housing boom, some experts warn that the city may have passed its peak.
FOR HELP WITH BUYING AND SELLING PROPERTY FOR HELP WITH BUYING AND SELLING PROPERTY VISIT C21.com.au VISIT C21.com.au
“Up-and-coming locales generally boast a lower entry pricepoint”
A DV E RT I S E M E N T
“Up-and-coming locales generally THE HOT SPOTS boast a lower entry pricepoint” Auburn is now nudging the trendy inner west Eveleigh has been tagged as Australia’s answer to Silicon Valley, as techHOT companies, apartment THE SPOTS developments and shopping centres transform the nudging once-sleepy suburb. Auburn is now the trendy inner west
Lemington, Maidstone,
Eveleigh has been tagged as West Footscray andValley, St Albans Australia’s answer to Silicon asare techmore companies, apartment bang for your buck with developments andto shopping centres good access the city and a transform the once-sleepy suburb.
melting pot of cultures and cuisines.
Lemington, Maidstone, West Footscray and St Albans are more bang for your buck with good access to the city and a melting pot of cultures and cuisines.
Sometimes it’s easier to move. Whether you’re looking to buy, sell or rent, speak to your local C21 real estate professional.
C21.com.au