ISSUE
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2016
Real estate is our world
LOOKING FORWARD TO 2016 If like many, you were outbid on your dream home in 2015 by a buyer with deeper pockets, then this could be your year. Many experts are predicting that sellers may not have the same extreme advantage of last year’s market as we enter 2016, and that buyers may potentially have greater leverage than in 2015. Great news if you’re cashed up and ready to make that move. Current market hotspots are Caulfield South, Caulfield, Elsternwick and Gardenvale, especially those locations that offer great local schooling and infrastructure. The home is now taking on a new focus amid chaotic world events with more people finding solace in their local communities and neighbourhoods and being inclined to invest more heavily in their homes, especially those with top range finishes, fittings and the latest in technology. These homes are going to rise in value and be continually sought after with people wanting to spend more time with
their family around them. Energy efficient homes are all the rage and as new technology, materials and products bring the costs down for energy efficient buildings, a growing number of architects and developers are creating buildings that use less energy, including those that follow “passive house” standards — when buildings are super-insulated to lower heating and cooling costs while pumping in fresh air. 2016 is sure to be an exciting year for the residential real estate market. Of course rising interest rates are on the top of everyone’s mind right now and this will play a major factor in the upcoming year. Interest rates have been either flat or dropping for most of the last decade, so I expect an environment of increasing interest rates will begin to change the dynamics of residential transactions by limiting affordability. This will lead to a psychological impact on the market with a shift in relative pricing. The
impact of this psychological shift will be most prominent in investment properties, providing great buying and investing for self managed super funds. For luxury properties where pricing has seemed to know no bounds, this price point will be continually driven by strong demand. As always please feel free to make contact with myself or any of your local hockingstuart team for the most current expert advice on buying, selling, leasing or renting.
Marshall Rushford Director/Auctioneer 0418 396 981 mrushford@hockingstuart.com.au
SELLING IN AUTUMN Spring is traditionally considered the ‘selling season’ in real estate, but it’s becoming clear that autumn is also a fantastic time to put your home on the market. Here’s why: Buyers have the right mindset At the start of the year, people are refreshed and ready to act. As people settle back into work and school, they have time to make plans for the year ahead and think carefully about what they want. That means autumn buyers tend to be motivated and determined. As well, timing plays a part; most people are keen to avoid moving in winter when rain and wind can present problems. Settling their sale before the weather really turns is a great motivator. Perfect presentation gets attention Autumn is a great time to present your home to buyers. The vibrant foliage makes for a wonderful backdrop, and the weather is pleasant because the most intense summer heat has passed while winter has not yet set in. Buyers can comfortably wander inside and out, while cool evenings can be offset by adding a few cosy touches and turning up the heating to create an inviting atmosphere. Less competition to contend with Because so many buyers are keen to take advantage of the spring property market, there can be fewer homes on the market during autumn. That means less competition for your home. This, combined with a smart buyer strategy and standout marketing campaign can help secure an outstanding result. If you’re thinking of selling this autumn, now is the time to start planning. Call the Hockingstuart Caulfield team today on 8532 5200.