HOME-GROWN Winter 2023

HOME-GROWN

ALBURY/WODONGA & SURROUNDS

Welcome to our winter 2023 issue of HOMEGROWN. An Albury-Wodonga based Real Estate Magazine, keeping you up-to-date with the latest listings and information as well as current local market statistics. In this winter edition, we have some great tips for selling your home in winter as well as some handy information about property taxes. We also have our most recent results and an insight into AREC 2023 on the Gold Coast. We hope you enjoy reading our seventeenth issue of Home-Grown as much as we have enjoyed putting it together for you! Here’s to a fantastic winter!

IN THIS ISSUE

5 TIPS FOR A WINTER SALE

AUSTRALIAN REAL ESTATE CONVENTION 2023

RECENT RESULTS

NEW LISTING

LOCAL BUSINESS SPOTLIGHT

HIGH PROPERTY TAXES: A DOUBLEEDGED SWORD FOR THE REAL ESTATE MARKET

TENANT OF THE MONTH

DIRECTORS’ MESSAGE

SOCIAL SNAPS

PICTURED ON FRONT - 290 EAST STREET, EAST ALBURY (INTERIOR)

290 EAST STREET, EAST ALBURY

5 TIPS FOR A WINTER SALE

If you’re waiting to sell your property in spring, it may be worth reconsidering.

The current supply-to-demand ratio certainly favours winter vendors, with buyers competing for fewer homes on the market and potentially driving prices up on auction day. Buyers searching for property during winter are motivated with serious intention to purchase, therefore, vendors will likely find a captive audience. If your home is ahead of the spring market, you will benefit from targeted exposure to your ideal buyer pool.

Below are our 5 tips for selling your home in winter.

Employ a strategic marketing campaign

At any time of year, a strategic and comprehensive marketing campaign is essential to attract both active and passive buyers. If time allows, your real estate agency can organise photography of your garden in warmer months to use later in your campaign so prospective buyers will see it at its best. On the other hand, winter’s softer light and muted colours can create an appealing contrast against your home’s warm interior. Your agent will help you decide the best strategy for your unique circumstances.

Impress with your kerb appeal

First impressions count, especially in winter. Elevating your home’s street presence is an effective selling tool. Ensure your garden is neat and tidy, clean or upgrade your driveway surface, and undertake repairs to paving, gutters, paintwork, and outdoor furniture. If you’re selling a heritage home, honour its history by restoring or replacing damaged period features. Landscape lighting also enhances your property’s street appeal; try illuminating a pathway or adding accent lighting to trees or the house.

Create a cosy environment

Create a warm and cosy haven using earthy or bright shades and a combination of textures with plush rugs, chunky throws, and tactile cushions to add impact. Ensure your home is well-lit; replace dull light bulbs with LED lighting, and switch on floor and table lamps to evoke a warm glow. Keep heating on at an inviting temperature and light your open fireplace during inspections. You may wish to consider hiring a property stylist to help you present your home in the best possible light.

14 INGRAMS ROAD, WEST WODONGA

5 TIPS FOR A WINTER SALE

Offer flexible inspections

Where possible, plan your open for inspections when your property will get the best morning or afternoon winter sunshine to maximise your home’s warmth factor. Flexible inspection times also expose your property to more potential buyers and can increase your chance of a successful sale outcome. Real estate agents have experience with selling properties in every season, so don’t hesitate to ask for advice.

Highlight winter living spaces

Presenting to prospective buyers how they can utilise your living spaces regardless of the weather can be a strong selling point. Highlight rooms such as retreat areas and media rooms, or any space that people are inclined to use when it’s cold and dreary outside. Also, show how your outdoor spaces can be used over the colder months; add an outdoor rug, cushions and throws, and turn on any outdoor heating you may have during inspection times.

By implementing a few ideas, preparing your home for a winter sale may just increase your chances of attracting the right buyer for your property and achieve an outstanding sales result. Contact Stean Nicholls’ expert sales team today to help you determine if a winter sale is right for you.

14 INGRAMS ROAD, WEST WODONGA

AUSTRALIAN REAL ESTATE CONVENTION 2023

AUSTRALIAN REAL ESTATE CONVENTION 2023

At the end of May a group of Stean Nicholls staff ventured to the Gold Coast for the 25th Annual Australian Real Estate Convention. Whilst not all of our staff travelled to the Gold Coast, the remainder attended AREC virtually.

What is AREC?

The Australasian Real Estate Conference (AREC) draws 4,000 delegates from around Australia and New Zealand to the Gold Coast Convention and Exhibition Centre (GCCEC) for a two-day conference highlighting the best in residential sales and property management training.

In 1995 there was no such thing as a real estate conference in Australia.

The purpose of AREC is to bring together the industry, to unite and ultimately to educate and give access to speakers and resources you agents can’t get anywhere else.

AREC was founded on the belief that regardless of what the market is doing, If the agent has the right strategies and experience, there is no reason for a sales or property management campaign not to be successful.

NICK CLARK AND RICH ROLL CATCH UP AFTER RICH’S PRESENTATION

Speakers

At AREC 2023, 33 visionaries spoke about how they develop, adopt and adapt to achieve success in every environment. The two days combines a series of real estate agents and trainers along with life coaches and professionals from other industries, who can relay their systems and experiences for both personal and professional growth.

Reese Witherspoon was once such speaker along with Rich Roll, Caitlyn Jenner and many others.

These inspiring speakers shared their insights on how personal evolution can apply to real estate ideas, strategies and execution.

Key Take-Aways

AREC’s 25th year was a celebration of elite real estate performance, touching on a range of topics including personal growth, maximising sales and marketing, and optimising social media presence to deliver the best response.

With a huge exhibition hall showcasing the latest in real estate tech and products, there was something available to benefit everyone.

Professional development is an important part of Stean Nicholls culture and AREC 2023 did not disappoint.

NICK, KIM, TAYA AND MIKAELA HAD A FANTASTIC FEW DAYS ON THE GOLD COAST

RECENT RESULTS

RECENT RESULTS

Al’s Skate Co was founded with the support of my amazing family.

You will often see my three sons (and even my wife!) shredding it up at the park, or you may even see us out and about running events in and around the community over the weekend.

As a family run business, we are passionate about providing a safe and fun environment for skateboard and scooter lessons, school groups as well as birthday parties.

2/155 Melbourne Rd, Wodonga VIC 3690 p| 02 6024 3536

e| info@alsskateco.com.au

HIGH PROPERTY TAXES: A DOUBLE-EDGED SWORD FOR THE REAL ESTATE MARKET

HIGH PROPERTY TAXES: A DOUBLE-EDGED SWORD FOR THE REAL ESTATE MARKET

In recent years, the real estate market has been grappling with the repercussions of rising property taxes, peaking in recent weeks with budget increases linked to the Victorian Government’s plan to pay down our COVID-19 debt. While these taxes enable the management of debt, and fund public services and infrastructure such as schools and hospitals, their impact on the market is complex.

Investment Properties

While property investors may rely on rental income to generate returns on their investments, the impact of tax increases weighs most heavily on this key sector of the real estate market. As property taxes rise and profit margins shrink, negative cash flow becomes a real possibility.

The shift we’re witnessing in current investment patterns can depress demand for investment properties, leading to potential fluctuations in property values and rental markets. The opportunity here lies in investors either holding property for the long term to benefit from appreciation or exiting the market and taking advantage of the current undersupply of properties for sale. When considering options, it is always prudent to seek advice from both Property Management and Sales Agents within your area for up-to-date market information.

Owner-occupied properties

While we typically only view higher property taxes in a negative light, the story doesn’t end there. The positive effects on owner-occupied homes can’t be overlooked. On the one hand, they often enhance property values and quality of life in the community. Moreover, well-funded schools, parks, and public amenities can attract homebuyers and support general property appeal in local neighbourhoods. Our iconic streetscapes and world-class services are arguably some of the best in the country, which does come at a cost. On the other hand, property taxes are an essential conversation that needs to be factored into expense forecasting when considering if a home is right for you, particularly those with fixed or limited incomes. To mitigate involuntary impacts on lifestyle, which can encourage homeowners to downsize or relocate, disrupting neighbourhood stability, planning is the first port of call. Advice for first-home buyers or those re-entering the property market is taking a realistic approach to the trade-off. From experience in the areas we service, homeowners and prospective buyers continue to find the investment a worthy price to pay.

3091 RIVERINA HIGHWAY, BUNGOWANNAH

HIGH PROPERTY TAXES: A DOUBLE-EDGED SWORD FOR THE REAL ESTATE MARKET

Holiday homes

Often seen as luxurious retreats or second residences, holiday homes have the opportunity to support local communities year-round. These luxuries however do face their own challenges under rising property tax conditions. While the combination of higher property taxes can impact the financial viability of owning a holiday home, as with owner-occupied homes, the key is to plan and understand what costs you will face prior to purchasing and monitoring policy continually to stay up to date with what may or may change in short to medium term planning. To ensure community investment in our iconic holiday-rich communities, like Sorrento and Flinders, continues for generations to come, increased costs will be a reality to improve local services and amenities as populations grow. Similar to those with owneroccupied properties, the financial increases we are facing are seen as worthwhile for those fortunate enough to own a second property. For those looking to consolidate, with limited stock currently on the market, it may prove a timely opportunity to down-scale.

A delicate balance

Striking a balance between revenue generation and the potentially adverse effects of high property taxes is a delicate task for policymakers and those investing to manage. Ensuring sufficient funding for public services while minimising the burden on property owners is crucial for maintaining a healthy and vibrant real estate market. Sustainable and prosperous property opportunities hinge on formulating property tax policies that strike a level that fosters affordability, encourages investment, and preserves the vitality of local communities.

A nuanced and holistic perspective is encouraged when looking at the current property tax climate. While inflated taxes often signal an increase in capital growth and a more robust real estate market for the future, planning and ensuring responsible financial safeguards are in place when investing in all property is essential.

TENANT OF THE MONTH

Architecture + Interior Design

Suite 3, 625 Dean Street

Albury 2640 Australia

+61 (0) 3 9600 0222

+61 (0) 438 886 428

techne.com.au

Founded in Melbourne in 2002, by Nick Travers and Justin Northrop, Techné Architecture + Interior Design opened its first regional design studio in Albury 12 months ago. Located in the New South Wales side of the Murray River, the region presents the practice with new and larger opportunities to invigorate the local economy and tourism sector.

Techné is well regarded for its work in the hospitality sector and has worked on some of Australia’s most recognised and iconic venues including The Espy and Garden State Hotel. Other hospitality clients include Brunetti, Tonka, Fonda, Grill’d, and RACV.

The Albury studio is lead by Albury local and Techné associate director, Dana Hutchins. Dana was previously at the practice for over six years as the head of interior design, before relocating back to Albury as a freelancer. The studio has experienced remarkable growth and now boasts a talented team of four. With two skilled architects and two innovative interior designers, the studio has made significant strides in the area.

During its relatively short time in operation, the Albury Studio has already secured multiple projects across various sectors. Techné’s recent projects in the area include the recent multi-million dollar refurbishment of Albury’s Astor Hotel, and current redevelopment of the Kinross Woolshed. They recently completed the retail fitout of Albury’s Monumental Ice Creamery, and the completion of the wine bar, cellar door, and restaurant refurbishment at All Saints Estate in Rutherglen. They are currently working on multiple hospitality projects in the North East Victoria, multi-residential development and a number of single residences in and around Albury.

The real estate market in the Albury Wodonga region has demonstrated strength and resilience over the past three months. Despite economic uncertainties, the market has experienced property prices holding steady. However, the region has also faced challenges due to low inventory levels, resulting in limited options for buyers.

Buyer preferences in the Albury Wodonga region have shown a similar trend to the broader market, with a notable demand for larger suburban homes offering outdoor spaces. The desire for more room, especially for remote work and recreational activities, has influenced buyer decisions.

In terms of regional variations, the Albury Wodonga region has witnessed increased property prices as buyers seek properties in suburban and rural areas with desirable amenities. This surge in demand has led to a competitive market and multiple offer situations. However, urban centers in the region may have experienced a slight dip in prices due to the temporary shift in demand. Nonetheless, these areas are expected to rebound as the mature age demographic continues to search for low maintenance living options closer to the CBD.

Investment opportunities in the Albury Wodonga region remain attractive, despite climbing mortgage rates. The volatility in the share market compared to the long term plan of appreciation in property leaves real estate as the slower but surer winner.

In conclusion, the Albury Wodonga real estate market has shown resilience and growth over the past three months. While low inventory levels present challenges, the demand for quality suburban properties spaces remains high. Buyers, sellers, and investors in the region should stay informed about market dynamics, regional variations, and investment opportunities to make wellinformed decisions in this thriving real estate landscape.

Geoff Stean 0413 888 788 geoff@steannicholls.com.au

Nicholas Clark 0439 215 293 nicholas@steannicholls.com.au

Lachlan Hutchins 0457 888 212 lachlan@steannicholls.com.au

Jack Stean 0434 588 664 jack@steannicholls.com.au

SOCIAL SNAPS

Jack and Madeleine celebrating their baby shower.

Kim, Mikaela, Nick and Taya having a ball on the Gold Coast where they attended AREC 2023.

Lachlan conducting auctions at The Scots School ski team fundraiser.

SOLD - another successful auction for our commercial department.

Nick had a drastic hair cut and donated his long locks to charity.

Lisa, Caitlin and Anneleise attend PMLR (Property Management Learning Retreat) in Melbourne.