My Market BELROSE | DAVIDSON | FRENCHS FOREST July 2019
Hello &
Welcome Shane Broekman is the Sales Manager for LJ Hooker Forest and has been selling residential property in the local area for over 12 years. If you have a questions for Shane, you can contact him via; ph: 0404 044 280 e: shaneb@ljhff.com.au
Talking Real Estate with Shane Broekman
A New Financial Year
is upon us, and it's time to hit the reset button. We often
use this time to look at our income, expenses, health care benefits and perhaps planning for that next big holiday. But what about property? For those with investment properties it's a critical time to look at your property portfolio and ensure your asset goals are on track. With banks now offering further reduced rates along with some extremely attractive investor loans, you might just have enough equity in one or all of your properties to secure a new investment or take this time to refinance. Arranging an appraisal is as simple as calling me direct.
The Bottom of the Market
was March 2019 and stability is fast showing
its face. A stable market is an ideal market place to start transacting, be it an upsize or a downsize, invest or renovate. In May alone I secured 8 sales for my clients with an average days on market of 34. Is it time for you start planning your next move? No matter your real estate needs, I'm more than happy to take your call and discuss a plan that makes dollars & sense.
Stats & Figures
Specific to Belrose, Davidson, Frenchs Forest
have sold sold in the first half of 2019 compared to 137 in 2018.
Although it is important to listen to what the media has to say about the Sydney market, it's more important to know what our local area is doing when you're thinking of selling.
64%
Is the average clearance rate at the moment. Buyer confidence is up.
As an area expert, I track the local market to ensure I can give my owners honest and realistic information that will ensure they sell for the right price, at the right time and without spending a long time on the market.
.25
Is the rate cut most banks passed on since the RBA reduced the cash rate in June.
109
It's so easy for an agent to tell you a price you want to hear (better known as buying your listing) but have they explained to you the best method of sale and what process they will engage to ensure a sale outcome you deserve?
+++
Are you
QUICK LOCAL FACTS •
4 – Houses for sale in Davidson
•
2 – Houses for sale in Belrose
•
12 – Houses for Sale in Frenchs Forest (excluding development)
•
1 – House for sale in Forestville
•
2 – Houses for sale in Killarney Heights
•
130 – Properties have sold this year (excluding retirement living)
•
15.8% - is the market share sold by LJ Hooker Forest
•
2 – Number of selling agents in our office
•
The new hospital zoning result is scheduled for late 2019
Dear homeowner. We understand that you might be considering a sale in Spring. Have you thought about taking advantage of the low stock levels now? There is a surplus of buyers currently looking, in fact we met 75 groups through one open house last Saturday. This means you have less competition and more buyers. You couldn’t find a better market to sell than right now. As the leading agency across Davidson, Belrose and Frenchs Forest combined, we have assisted more homeowners in the recent declining market than any other agency.
Shane Broekman Sales Manager | Forest Specialist 0404 044 280 shaneb@ljhff.com.au
If you would like to discuss preparing for sale, timing and the expected sale outcome for your home, don’t delay in calling me to arrange a confidential meeting.
“As a local resident, I help my neighbours sell for more.”
SHANE BROEKMAN | 0404 044 280 | shaneb@ljhff.com.au Another local agent
SALES MADE 2019: FRENCHS FOREST - BELROSE - DAVIDSON Another local agent
0
Another local agent
3
Another local agent
8
Another local agent
1
LJ Hooker Forest
19
Another local agent
12
Another local agent
9
Another local agent
8
Another local agent
6
Another local agent
13
Another local agent
7
Another local agent
10 0
5
10
15
20
The above information has been sourced from www.realestate.com.au and is public knowledge. Although LJ Hooker Forest believes this information to be accurate, we cannot guarantee or give any warranty about the information provided. Interested parties must solely rely on their own enquiries.
JULY 2019
RBA cuts rates to new record low Last month, for the first time in 34 months, the RBA decided to reduce the official cash rate by 25 basis points to 1.25 per cent. This represents the lowest cash rate on record and is the first time since August 2016 that the RBA board has shifted rates. Why did they cut? Despite the current strength of employment markets, the outlook for the Australian economy has softened. In addition, an escalation in the trade war between the US and China combined with the ongoing delay and dispute over Brexit has increased headwinds for global economic growth. The domestic economy has seen inflation track well below the RBA’s target of 2-3 per cent for some time, with low levels of household spending, soft wage growth, a slump in dwelling approvals and resistance from banks to lend all driving the RBA’s decision.
What does it mean for the property market? Depending on the banks, this rate cut may assist mortgage holders and encourage buyers that have disengaged from the property market to re-evaluate their situation. The past few weeks have seen buyers re-engage with enquiries and attendance at open homes both lifting. The increase in confidence comes off-the-back of the Coalition win at the federal election, ensuring there are no changes to negative gearing or capital gains tax concessions for property investors.
Get the value of our experience today by booking a free property appraisal with your local real estate expert. ljhooker.com.au/property-appraisal
In addition, a new first home buyers deposit scheme, announced prior to the election, and the relaxation of finance restrictions by banking regulators provides a positive outlook for property markets leading into the second half of the year.
For property buyers The RBA’s decision along with the recent announcement by APRA that they are looking to relax lending restrictions, should help lift mortgage affordability. This will help up-sizers, down-sizers, investors and first home buyers re-engage with property markets after a period of indecision and uncertainly.
For property sellers Lower interest rates bode well for property owners looking to sell in the second half of 2019. The past two weeks has seen demand from buyers increase and a reduction in interest will help drive increased attendance at open homes and buyer enquiry levels. Despite higher levels of interest from buyers, the number of properties coming onto the market for sale has yet to rise to meet this demand. This will help drive competition for well-located and accurately priced properties that are listed for sale over coming months.
When to know it’s time to sell When is the right time to sell? This is a question we are asked every day, but there are certain indicators to help you assess when it may be the right time to sell and move onto greener pastures. Low cash rate
Your family is expanding or have left the nest
Interest rates have a massive impact on the property market as it is the cash flow trigger for affordability and determines both supply and demand. A lower cash rate means home loan repayments are easier to manage and the property market is more enticing for buyers.
If you’ve added a few kids to your family, upgrading is a natural step. You might need more space or want to move to an area with better lifestyle offerings or access to good schools and amenities.
Your suburb has seen a price rise Are you lucky enough to live in a suburb that has seen a recent price rise? If you own your own home, it might be the right time to sell to benefit from heightened demand. Speak to your local LJ Hooker agent who can provide you with information such as recent sales, trends and market fluctuations in your neighbourhood.
On the other hand, maybe your kids have moved out of home and you no longer need the space. Wouldn’t it be nice to free up some money, so you can splurge?
Contemplating renovating If you are looking to renovate your home, consider whether your renovation is adding value or if you’ll lose money in the long-term. Determine what you want to achieve from your renovation, how much it is going to cost, the value it will add to your property and if it would be cheaper to buy a different home rather than renovate.
A fresh start sounds fabulous! We’re often told the Australian dream is owning your own house, with two and a half kids and a picket fence; but times change, and with it, so do our dreams. Nowadays, lots of people prefer to own an apartment or a compact house close to the city. Remember, one size doesn’t fit all! If you found yourself saying yes to three or more of these indicators we’d say you’re ready to move forward and sell; and of course, we’d love to help you. Contact us for an obligation free property appraisal.
The purpose of a property appraisal A property appraisal is an informal estimate of what your home may be worth, which is commonly given as a free service by real estate agents.
However, it is also important to do your own research, so you can either agree or disagree with the agent as well as understand the rationale behind their pricing strategy.
It is an educated opinion based on recent, comparable sales data in your area, current market sentiment plus the agent’s insight into the features of your home that will either create a lot of buyer interest and competition or any negative features, which may limit interest and the price buyers are prepared to pay. It is worthwhile to request an appraisal from different agents before you choose who you are going to use to sell your property.
Disclaimer. This newsletter does not necessarily reflect the opinion of the publisher. It is intended to provide general news and information only. While every care has been taken to ensure the accuracy of the information it contains, neither the publishers, authors nor their employees, can be held liable for inaccuracies, errors or omission. Copyright is reserved throughout. No part of this publication can be reproduced or reprinted without the express permission of the publisher. All information is current as at publication release and the publishers take no responsibility for any factors that may change thereafter. Readers are advised to contact their financial adviser, broker or accountant before making any investment decisions and should not rely on this newsletter as a substitute for professional advice. © LJ Hooker Corporation Limited.
Sold. Sales made by Shane Broekman in 2019 - January to June
11 Cobb Street FRENCHS FOREST $1,165,000
2 Karingal Crescent FRENCHS FOREST $1,175,000
12 Hews Parade BELROSE $1,280,000
R3 Zoning FRENCHS FOREST $1,775,000
6 Berrinda Place FRENCHS FOREST $1,425,000
7 Hoddle Crescent DAVIDSON $1,510,000
2 Shanuk Street FRENCHS FOREST $1,180,000
6a Skene Place BELROSE $1,002,000
13Wanniti Road BELROSE $1,300,000
8 Govett Place DAVIDSON $1,482,500
30 Hakea Avenue BELROSE $1,430,000
1B Wearden Road BELROSE $1,400,000
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If you think hiring a real estate professional is expensive, wait until you hire an amateur.
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If you're thinking of selling, contact:
Shane Broekman -+ )00,&3 '3&/$)4 '03&45 BEESFTT 4PSMJF 3PBE 'SFODIT 'PSFTU Phone: 0404 044 280 | Email: shaneb@ljhff.com.au
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