PRDnationwide Penrith Publication - Issue One
PENRITH PROPERTY MARKET BOOMING There has never been a better time to sell. In this issue we show you how to sell fast!
SOLD AT A UCTION
Vendors Advised - “Get In Now” In this issue of Property News: • Finding The Right Home • Buyers Snapping Up Everything • Boost Your Investment’s Rental Potential
Full Story P.3
www.prd.net.au
(02) 4732 3711
LETTER FROM THE PRINCIPAL Dear Readers, The strength of the real estate market in the past 12 to 18 months has dramatically increased the opportunities for a whole new segment of mums and dads to become investors. Market activity has pushed up home values and the higher the values go, the more equity you have in your home, and the more borrowing power. The equity is the difference between what you owe on your home and its value. With the lowest interest rates in 60 years and predictions that the market will continue to grow, perhaps you should come and see us to find out if you are in a position to buy your first investment property. Kind regards,
Darren Latty Managing Director 0414 620 532
379 High Street, PENRITH NSW 2750 phone:
(02) 4732 3711
fax:
(02) 4732 3283
email: web: Disclaimer
darren@prd.net.au www.prd.net.au
Notice: Neither Darren Latty, PRDnationwide Penrith, nor Newsletter House Pty Ltd, nor the publishers and editors of articles in this issue, accept any form of liability, be it contractual, tortious or otherwise, for the contents of this newsletter or for any consequences arising from its use or any reliance placed upon it. All the information contained in this publication has been provided to us by various parties. We do not accept any responsibility to any person for its accuracy and do no more than pass it on. All interested parties should make and rely upon their own enquires in order to determine whether or not this information is in fact accurate. ©Newsletter House Pty Ltd 2012 Ph: 02 4954 2100 www.newsletterhouse.com
You are invited to…
Property Information Group’s Investors’ Information Night
Property Information Group would like to invite you to attend our next Investors’ Information Night on Tuesday 3rd June, 7-8.30pm at Trevi Ristorante and Bar, Penrith. It’s free to attend but places are limited so to secure your seat please email sophie@prd.net.au Why attend? This event is designed for potential and existing property investors who wish to find out more about purchasing and managing investment properties. As we approach the end of tax year this is the ideal time to take the next step to build your portfolio. Our experts will explain all you need to know, including deposits, using your home as security, stamp duty fees, depreciation and rental returns. You’ll also get the chance to ask them any other questions you may have. Our experts: David Seager David has had 25 years banking experience including 16 years with St George Bank. He is an associate member of the Institute of Financial Services, a member of the MFAA, has a diploma in Business and is a Justice of Peace. He is accredited for residential and commercial loans, construction loans and leasing. Shanaka De Silva, Director, Synergy Financial Services Group Shanaka has been the principal of his financial planning firm for 10 years and is involved in strategic advice for business and personal clients along with advice on selfmanaged super funds.
Drew Clegg, Lending/Business Development Manager, Bank of Queensland Drew has been the Lending Manager for Bank of Queensland (BOQ) Penrith since 2006. He looks after all Home Loans, Construction Loans, Refinances, Tops-Ups & Purchases. Darren Latty, Principal, PRD nationwide Penrith Darren has 25 years of experience in the Real Estate industry. As Principal of PRDnationwide Penrith he has extensive expertise in the fields of residential and commercial sales and leasing, property management and project marketing. What? Investors’ Information Night Who? Property Information Group + expert guest speakers When? Tuesday 3rd June 2014, 7-8.30pm Where? Trevi Ristorante and Bar, 20-22 Woodriff Street, Penrith Why? Find out everything you need to know about how to build your investment property portfolio. How? To secure your place please email sophie@prd.net.au. It’s free!
Penrith is running hot Penrith’s housing market is red hot, having achieved a staggering 12.6% growth in the 12 months to November 2013..
The result comes on top of the Penrith Local Government area having outperformed most of its Sydney counterparts for the past five years, recording a 5.3% growth in sales each year and 6.2% annual median price growth. PRDnationwide’s Research analyst, Angus McLean, said an increased number of buyers flooding into the Penrith market had forced a shift in the price points. “The average median price for a house in Penrith is continuing to climb as buyers do battle for limited stock,” Mr McLean said. Competition is red hot for dwellings in the Penrith Local Government Area because it is comparatively affordable with 12 of the 34 suburbs boasting house medians under $400,000. PRDnationwide Penrith Principal, Darren Latty, said that his office was fielding inquiries from both owner-occupiers and investors looking to capitalise on forecast growth for the area. He said that the market is being driven by out of area investors with up to 70% of inquiries from these people. These buyers are looking for safe long term investments and Penrith ticks all the boxes as it is affordable with low vacancy rates and growing job opportunities. The Nepean Hospital & surrounding medical precinct, the University of Western
If you are thinking of selling now is the time to make a move PRDnationwide, Sales Manager, Daniel Latty is extremely excited by the state of the local Penrith property market. “Over the years I have had numerous clients take me aside and ask, is now the right time to sell?” Said Daniel.
Penrith should sell now? “You only have to visit our website and look through the long list of recent sales and you can see that property is selling for a good price and buyers are acting quickly to secure these properties,” said Daniel
“Right now with another announcement by the Reserve Bank to keep interest rates on hold I am advising all my clients to sell as quick as possible”. Daniel, why are you so confident that people living in and around
“My advice, act now while interest rates are low and the market is hot!”
Sydney and a pro-active council are also big pluses making the market attractive.
Balgowlah, The Entrance, Castle Hill, Mascot and Paddington.”
While improving infrastructure and employment have drawn in owner occupiers and investors, driving price growth in established home markets, new land releases and developments have boosted sales activity.
“Penrith property owners can look forward to more growth this year and sustained growth in to the future,” he said.
The sites give Penrith a fresh look, with lakes, walkways and shopping centres among new properties on spacious blocks.
The average median house price for Penrith council suburbs is now $543,279, beating Liverpool ($524,578); Campbelltown ($446,851) and Blacktown ($443,512).
Darren Latty said that the predominance of investors was demonstrated by a recent Open Home for a modest two bedroom unit.
“Even top-end properties are getting strong inquiries. The $600,000 to $800,000 market is just as busy,” Darren said.
“We had nine buyers attend. Of those, seven were investors from diverse suburbs and areas including Botany, Hurstville,
To find out how we can help you sell your property please phone our Penrith PRDnationwide office on 02 4732 3711
Selling your property just became easier If you would like to sell your property without the heartache then call our property people on (02) 4732 3711 and the rest is easy!
Daniel Latty Residential Sales Manager 0417 047 458
Sharon Richards Sales Administrator (02) 4761 6204
Kirstie Shepherd Buyer Manager 0438 856 342
Joel Flowers Listing Agent 0430 716 040
Kane Towns Listing Agent 0487 272 819
Improve your property & market for big profits With availability of rental properties at an all time low and the situation not expected to improve for years to come there are opportunities for landlords to maximise their returns as never before. For the first time in many years, expenditure on improvements to rental properties, and even money spent on their marketing, can generate real returns rather than a mere tax advantage. Investors have long known that property improvements can bring two or threefold returns when selling, but now the market is right for a whole new approach to rental properties. Whenever the rental vacancy rate drops below a benchmark of around 3% the rents cycle swings in favour of the property owner. Nationwide now the vacancy rate is way below that level with some markets almost at crisis point. Economists are predicting that this situation will not change in the near future as it is endemic of a national housing shortage. Government building incentives so far have failed to make an appreciable impact on this shortage which runs across the board from Government stocks to the private sector. This remarkable situation has created an opportunity for owners who are now able to make improvements that will not
Rex Ellison Manager Property Management 0418 201 114
Ideas to maximise your rent returns only increase the value of their property, but increase the rents, giving both long and short term gains. And with the building industry relatively quiet there is no shortage of tradesmen ready, willing and able to slash and burn their charges. But what to do? Where to start? What improvements will give the best return? Sure, you could go all out and add another bedroom - a surefire way to increase the rental return. But that’s a high cost that will take a while to recoup. The clever approach is to look at ways to cost effectively increase the desirability and livability of your property. A new benchtop in the kitchen, perhaps some splashbacks and cupboard doors, is a good way to start. Less than $500 will get you a pretty impressive BBQ for an outdoor entertaining area and a verandah extension, or even a
Natalie De Chellis Business Development Manager 0420 371 107
Ashley O’Brien Property Manager 0432 548 838
new deck, is not expensive if you approach it in the right way. Even the bathroom can be given a whole new look for less than $1500 with a vanity and shower. In all of these things the trick is not to shop where you would for your own home, but to shop smart at factory outlets, seconds stores and even via e-bay online stores. Throughout the process, from planning to shopping and installation, don’t lose sight of the fact that you are aiming to make the place desirable. When you are done, talk to your agent about marketing. Good photos (not a few happy snaps), well thought out copy and the right approach will paint a picture of your rental property that will in itself justify adding another $50 a week to the rent. Your other consideration with your improvements, and your marketing, is the target market - aim for young professionals in an upper demographic.
Marnie Fawns Account Manager (02) 4761 6210
If you would like help renting your investment property, call us on (02) 4732 3711 and see how easy it can be with expert advice!
Stacey Haughton Receptionist (02) 4732 3711