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 Chris Gray Tim Lawless REI Super Casey Healey
EDITORIAL ENQUIRIES Century 21 Australia (02) 8295 0600
ADVERTISING ENQUIRIES Century 21 Australia (02) 8295 0600
WELCOME TO THE
SUMMER 2024 ISSUE OF
C21 MARKET PULSE
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
Cover image: Jessie McCall on Unsplash
C O N T E N T S S U M M E R
PROPERTY MARKET UPDATE
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HOME ORGANISATION
Heat comes out of the housing market as values
The art of home organisation: creating harmony
across Melbourne dip and Sydney slows
in your living space
CoreLogic Head of Research, Tim Lawless
NATIONAL BROADBAND NETWORK
BUYING PROPERTY
05
node, curb or premise
market debut
Your Porter
HEALTH & WELLBEING
ASK A C21 AGENT 09
Top 3 questions for a property manager Casey Healey, Century 21 Novocastrian
Loneliness during the festive season REI Super
C21 MARKET PULSE
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Understanding your broadband: fibre to the
Silent sales: securing a property ahead of its Your Empire CEO, Chris Gray
10
01
CENTURY 21
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FIND OUT YOUR PROPERTY’S WORTH IN AN INSTANT Access an instant property report now. Click here to begin.
C21.com.au/property-report/
P R O P E R T Y M A R K E T U P DAT E
HEAT COMES OUT OF THE HOUSING MARKET AS VALUES ACROSS MELBOURNE DIP AND SYDNEY SLOWS CoreLogic’s national Home Value Index (HVI) rose 0.6% in November, the smallest monthly gain since the growth cycle commenced in February.
BY T I M L AW L E S S , H E A D O F R E S E A R C H , CO R E LO G I C
following Melbourne’s lead, with
are also acting as a drag on value
home values stabilising or dipping
growth in some markets,” he said.
lower in December.
Slower growth conditions across
On the flip side, Perth housing
the upper quartile of Sydney
values accelerated in November,
and Melbourne have become
posting the largest monthly gain
increasingly prominent, with the
since March 2021 at 1.9%. Brisbane
most expensive quarter of the
(1.3%) and Adelaide (1.2%) also
market across both cities now
stand out with a resilient and rapid
recording the lowest rate of
November. After falling -7.5% from
pace of growth.
growth on a monthly and
a peak in April 2022 to a trough in
CoreLogic Research Director, Tim
January 2023, housing values have
Lawless, said these three cities
“The more expensive end of the
bounced 8.3% higher over the past
continue to show remarkably low
market tends to lead the cycles in
10 months, demonstrating a clear
levels of advertised supply while
these cities,” Mr Lawless said. “As
‘V’ shaped recovery.
purchasing activity is holding above
borrowing capacity reduces, we may
While the headline trends have
average levels.
be seeing more demand deflected
slowed, multi-speed conditions
“This imbalance between available
have become increasingly evident
supply and demonstrated demand is
across the capitals, with three cities
keeping strong upwards pressure on
recording a decline in values over
housing values across these markets,
the month. These were Melbourne
despite the downside factors leading
The gap between regional and
and Hobart, both down -0.1%, and
to weaker housing market conditions
capital city growth rates has
Darwin, down -0.3%. Growth in
across the lower eastern seaboard,”
converged, with both the combined
Sydney home values also slowed
Mr Lawless said.
capitals and combined regionals
Despite the slowdown, the national HVI reached a new record high in
sharply, reducing to 0.3%, the smallest monthly gain through the recovery cycle to-date. With Sydney home values slipping into negative growth over the last week of the month, we could see Sydney
“The Melbourne Cup day rate hike has clearly taken some heat out of the market, but other factors like rising advertised stock levels, worsening affordability and persistently low consumer sentiment
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rolling quarterly basis.
towards lower housing price points, with the broad middle of the market now recording the strongest rate of growth in Sydney and Melbourne.”
index recording a 0.6% rise in values in November. The convergence comes after regional markets have lagged their capital city counterparts through the recovery phase to-date.
Click here to read the full article
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BUYING PROPERTY
SILENT SALES: SECURING A PROPERTY AHEAD OF ITS MARKET DEBUT
B Y C H R I S G R A Y, C E O, YO U R E M P I R E
Buying a property before it goes to market, known in the industry as a silent sale, is a great way to acquire a home or investment, and should considered as part of any property-buying strategy. Median-priced properties close
listing before they go to market
and both agents and vendors would
to CBDs, transport and leisure
and the public gets what’s left.
rather get a guaranteed sale, rather
facilities will nearly always sell
If you want to get ahead of the
than risking the unknown.
and rent well. Consequently, these
competition you need to become
types of properties are subject to
savvy and learn the techniques of
strong competition once they are
industry professionals.
listed, and often sell at auction for 5 - 10 per cent higher than their true market value. So if your goal is to buy at or below market value, you need to look at properties before they are listed.
snap up to 80 - 90 per cent of our properties for clients before they are marketed or within the first couple of days of a campaign. Clients of mine have come to rely on our ability
brings with it marketing and
to purchase such properties on
advertising fees as well as a
their behalf. For example, we
reasonable time frame, so a number
bought a whole block of seven
of vendors ask agents to show
units over a nine‑month period
the property to their database
off different owners. Only two
before they embark on a formal
were advertised to the public, the
sales campaign. Other sellers find
other five were silent sales direct
auctions risky and are nervous
to us. Not only can vendors save
about whether buyers will attend or
$5,000 - $10,000 on marketing
bid and may take a guaranteed offer
and auction fees, they often get a
beforehand rather than running the
sale within 24 - 48 hours, instead
risk of an unfavourable sale
of 4 - 6 weeks. Whilst a lot of Australia’s property
Often, professional investors and
market is on the turn, there’s still
buyers agents handpick these
plenty of uncertainty in the market C21 MARKET PULSE
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in the market, here are my top tips for purchasing a silent
As a buyers agent we typically
Placing a property on the market
at auction.
To maximise your opportunities
CENTURY 21
sale property.
BECOME BETTER FRIENDS WITH YOUR LOCAL REAL ESTATE AGENT The key contact between sellers and buyers, agents are the first to be aware of properties for sale. Make sure they know you are pre‑approved for finance, are serious about buying and can make a quick decision followed by a signed, unconditional contract.
GET ORGANISED Make sure you are ready when the right deal comes along. Get pre‑approved for finance and have your valuer, building inspector and strata inspector all ready so they can check you are buying the right property at the right price.
Continued over page
Image: Digital Marketing Agency on Unsplash
SECTION HEADER
ABOUT THE CONTRIBUTOR Chris Gray is CEO of Your Empire,
Continued from previous
have good relationships with real
a buyers’ agency that buys homes
estate agents, who prefer to deal
and investments for time-poor professionals – searching,
TELL YOUR FRIENDS, FAMILY AND COLLEAGUES YOU ARE LOOKING TO BUY
with them, as they make quicker pay a fee to a buyers agent, they
spent over 10 years as the host
Often those close to you will know
will often get you a better property
of ‘Your Property Empire’ on Sky
of someone else looking to sell,
for a better price which will more
so spread the word.
than compensate the cost.
buying decisions. Whilst you do
negotiating, renovating and managing property on their behalf. Chris has
News Business channel, where he’s interviewed various heads of property research companies and major industry figures. Chris is a qualified
USE A BUYERS’ AGENT
accountant, buyers’ agent and
If you’re short of time and don’t
mortgage broker.
have the contacts, consider hiring
For more information, visit
a professional. Buyers’ agents,
yourempire.com.au and follow Chris on Facebook: @ChrisGraySydney C21 MARKET PULSE
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WHY CHOOSE YOURPORTER Independent – we are not aligned with or owned by any energy retailer. We have created a panel of providers to compete for your business Freedom – stay in total control, making choices to suit your needs be it cost, product features or supplier preference Simple – use our easy, online signup process or speak to one of our friendly consultants Our service comes at no cost and no obligation Based in Melbourne, we are 100% Australian owned and operated
CONNECTING SERVICES HAS NEVER BEEN EASIER STEP 1 Once referred by an agent, YourPorter will contact you via SMS, email, and/or phone.
STEP 2 Choose your service providers via the online connection platform, or with the help of one of our friendly call centre team.
STEP 3 Tick connections off your moving home list.
Talk to your Century 21 representative or contact us via 1300 400 600 | info@yourporter.com.au | Level 3, 342 Flinders Street, Melbourne, VIC 3000
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HEALTH & WELLBEING: A MESSAGE FROM OUR ALLIANCE PARTNER
LONELINESS DURING THE FESTIVE SEASON The festive season can be a difficult time for many people, especially those who feel lonely.
BY REI SUPER
ACKNOWLEDGE YOUR EMOTIONS Take a moment to reflect on how you’re feeling. Whatever emotions come up for you, know that they’re valid. It’s easier to respond to
Loneliness is a feeling that can be difficult to describe, but it’s something that many of us experience at some point in our lives. It’s a subjective emotion that can make us feel like our social relationships are insufficient, especially when we compare ourselves to others. The festive season, with its images of gift-giving, socialising, family togetherness and excess, can often exacerbate these feelings that you may be missing something, or feelings of loneliness.
challenges when you can accurately name and understand your emotions.
or community organisations are also associated with reduced social isolation.
BE KIND TO YOURSELF Practice good self-care by getting good rest, eating healthy, and doing things that make you happy.
BE REALISTIC
Remember that it’s okay to seek
It’s important to be realistic about
professional help if you’re struggling
your expectations this festive
with loneliness during the holidays.
season, no matter what your situation looks like. It can be hard to do this when we’re bombarded with images of the perfect festive season from movies and social media. Remember that it’s okay to spend time with friends instead of family.
This article is brought to you by REI Super and MetLife 360 Health. As a REI Super member, you can access 360Health which can connect you with mental health specialists online to help with the challenges of feeling lonely. The service allows you, your partner, and children (over
CONNECT WITH OTHERS Reach out to old friends, colleagues,
Here are some tips that might assist
or neighbours. Engaging in
you if you’re dealing with any of
volunteer work and maintaining
these challenges:
active memberships of sporting
18 years) to access a confidential, in-depth mental health review from a team of Australian-based experts and get your general mental health questions answered online.
The information about MetLife products and services does not constitute financial, health or medical advice on the part of the REI Superannuation Fund Pty Ltd ABN 68 056 044 770, AFSL 240569, RSE L0000314 Trustee of REI Super (ABN 76 641 658 449), SPIN REI0001AU, RSE R1000412. READ THE FULL DISCLAIMER C21 MARKET PULSE
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H O ME O R G A N I S AT I O N
THE ART OF HOME ORGANISATION: CREATING HARMONY IN YOUR LIVING SPACE In the hustle and bustle of daily life, maintaining a tidy and organised home can often feel like an elusive goal. However, the benefits of an organised living space extend far beyond just aesthetics. A well-organised home can significantly reduce stress, increase productivity, and create a more harmonious environment for you and your family. Let's explore some practical tips to help you master the art of organising your home.. 1. DECLUTTER WITH PURPOSE
these zones to prevent clutter
5. DIGITAL ORGANISATION
The first step in achieving a
from accumulating.
In today's digital age, organising
well‑organised home is to declutter. Start by assessing each room and identifying items that no longer serve a purpose or bring joy. Whether it's old magazines, clothes you haven't worn in years, or kitchen gadgets gathering dust, be ruthless in your decision-making. Donate, sell, or discard items responsibly to create a clean slate for organising.
2. CREATE FUNCTIONAL ZONES Assign specific functions to different areas of your home. Designate zones for activities such as work, relaxation and meals. This not only helps to streamline your daily routines but also makes it easier to maintain order in the future. Ensure that each item has a designated home within
3. INVEST IN STORAGE SOLUTIONS Maximise your space by investing in smart storage solutions. Utilise storage bins, baskets, and organisers to keep similar items together. Consider multifunctional furniture with built-in storage to
your home extends beyond physical spaces. Take control of your digital life by organising files on your computer, decluttering your inbox and managing digital documents. This not only saves time but also reduces mental clutter.
make the most of limited space.
6. PERSONALISE AND BEAUTIFY
This not only reduces visual clutter
Having an organised home doesn't
but also makes it easier to find and
mean you have to sacrifice personal
access what you need.
touches and style. Incorporate
4. ESTABLISH DAILY ROUTINES Incorporate short daily routines to maintain the organisation of your home. Spend a few minutes each day tidying up common areas, putting items back in their
elements that bring you joy and reflect your personality. Use decorative storage solutions, incorporate plants and display cherished items to create a space that feels inviting and comfortable.
designated places, and addressing
7. INVOLVE THE WHOLE FAMILY
any clutter that may have
Maintaining an organised home
accumulated. Consistency is key to
is a team effort. Involve your
preventing chaos from taking over.
family members in the process by
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assigning age-appropriate tasks and
effort. A well‑organised home
responsibilities. Teaching children
fosters a sense of calm and order,
the importance of organisation
contributing to a more peaceful
early on instils good habits that will
and enjoyable living environment.
benefit them throughout their lives.
Embrace the journey of creating a
Organising your home is not a one-time task but an ongoing process that requires dedication
harmonious space that supports your well-being and enhances your overall quality of life.
and consistency. The rewards, however, are well worth the C21 MARKET PULSE
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WHAT WILL HAPPEN TO PROPERTY AFTER FREEDOM DAY?
N AT I O N A L B R OA D BA N D N E T WO R K
UNDERSTANDING YOUR BROADBAND: FIBRE TO THE NODE, CURB OR PREMISE
moving made
YourPorter specialises in conne ensuring your moving experienc BY YO U R P O R T E R
We all know that the National Broadband Network (NBN) rollout across our vast continent has been a hot topic for a while now. With so many terms being thrown around, it can feel like you need a translator just to decipher what’s best for you. Not to worry! YourPorter is here
2. FIBRE TO THE CURB (FTTC)
and potentially longer installation
to help you navigate these waters
What it is: This one’s a happy
times, given the need to run
with ease.
middle-ground between FTTN and
new infrastructure directly into
FTTP. The fibre goes all the way
buildings.
There are three terms that you’ve likely heard: • Fibre to the Node (FTTN) • Fibre to the Curb (FTTC) • Fibre to the Premise (FTTP)
to a small distribution point very close to your home – typically the curb or somewhere nearby. From there, a shorter stretch of copper or sometimes coaxial cable finishes
Let’s break them down in
the journey.
plain English.
What it means for you: Because
1. FIBRE TO THE NODE (FTTN) What it is: This is a bit like the ‘community gathering point’ for broadband. The fibre runs to a local node, which can be a street cabinet, and then the existing copper network takes it the rest of the way to individual homes or businesses. What it means for you: FTTN can be a bit faster to set up since it
generally offers better speeds than FTTN. It’s a balance between performance and cost.
more than happy with FTTN, while
But remember, regardless of the option, the end goal is always to give Aussies faster and more reliable internet. And the best part? You don’t have to navigate this
alone. YourPorter is here 3. FIBRE TO THE PREMISE (FTTP)WHY journey CHOOSE YOURPORTER What it is: This is the gold standard. Fibre runs directly into your home or business, offering the highest
What it means for you: FTTP
distance from the node.
needs are. Some folks might be
or streaming heavily from home.
comes closer to your home, FTTC
But, because it still relies on that
speeds, especially if you’re a fair
in your area and what your internet
power of FTTP, especially if working
copper networks and the fibre
potential speeds.
might not offer the absolute fastest
It all depends on what’s available
others might benefit from the
there's less reliance on the older
uses some existing infrastructure. old copper for the last stretch, it
SO, WHICH ONE’S FOR ME?
provides the most reliable and fastest connection, but it might also come with a heftier price tag
C21 MARKET PULSE
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to help you compare broadband
suppliers and make sure you're Independent – we are not aligned with hooked up with the best plan panel of providers to compete for you tailored to your needs. Freedom – stay in total control, makin Happy surfing! or supplier preference For further information visit Simple – use our easy, online signup www.yourporter.com.au or Our contact service comes at no cost and no o 1300 400 600 Based in Melbourne, we are 100% Aus
CONNECTING SERVICES HAS NE
CENTURY 21
STEP 1
STEP 2
ASK A C21 AGENT
WHAT ARE THE TOP 3 QUESTIONS I SHOULD ASK MY PROPERTY MANAGER?
B Y C A S E Y H E A L E Y,
CENTURY 21, NOVOCASTRIAN
When considering a real estate agent to manage my property, what are the top 3 questions I should ask? I recommend you ask the following to ensure you make an informed decision:
1. HOW DO YOU GUARANTEE OPTIMAL RETURNS FOR MY PROPERTY? It is crucial to engage a Property Manager who is dedicated to maximising rent yield and
minimising vacancy periods.
positive reviews are also indicative
Focusing on these aspects can
of a reliable and efficient team.
effectively enhance your rental income and financial gains.
2. CAN YOU ELABORATE ON YOUR TEAM STRUCTURE, EXPERIENCE, AND APPROACH TO PROPERTY MANAGEMENT?
3. WHAT DIGITAL TOOLS AND TECHNOLOGIES DO YOU UTILISE FOR PROPERTY MANAGEMENT? Embracing technology is vital for efficient processes, streamlined communication, and an enhanced
It is advisable to seek a collaborative
user experience for tenants and
team with a proven track record in
landlords. Look for an agency that
property management. Consider
leverages digital tools to facilitate
their long‑term staff retention, as
smooth operations and provide you
this indicates stability and expertise.
with transparent and up-to-date
Exceptional client service and
information on your property’s status.
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Reach more home buyers.
With Australia’s largest home buying audience, realestate.com.au can put your listing in front of more home buyers than anywhere else. Talk to your local Century 21 agent to list your home for sale on realestate.com.au.
Source: Nielsen Consumer and Media View, 2023 Survey 03 National Online database Time period May 22 – Apr 23, Fused Nielsen Digital Content Planning (Text): March 2023, Realestate.com.au vs nearest competitor. Australian Population 14+. “Buyers” are Total Buyers who are likely or very likely to buy a residential property within 12 months.