The Reserve Bank of Australia leaves the cash rate on hold at 1.5 per cent

RBA rate hold: 1.5%

CENTURY 21, a real estate organisation with over 100,000 staff in 78 countries, believes that the Reserve Bank of Australia’s decision to leave the official cash rate on hold may encourage Australians to assess the strength of their financial position.

Charles Tarbey, Chairman and Owner of CENTURY 21 Australasia, believes that whilst rate rises may not be on the immediate cards, it is likely the next change will be upwards.

“It may be too early for a change now however Australians should factor in this possibility if they are evaluating their financial commitments,” said Charles Tarbey.

“For those looking to fix their loans, they may be wise to only fix a portion of it and continue to make reductions on their debt.

“A forward thinking approach to paying down mortgages may help Australians to withstand the impacts of any upward movement that may occur in the mid to long term,” said Charles Tarbey.

According to CoreLogic, dwelling values edged 0.2 per cent higher across Australia over September, led by a 0.3 per cent rise in capital city values and a 0.1 per cent gain across the combined regional markets.

CENTURY 21 encourages potential buyers who are looking to purchase real estate to ensure they have obtained the appropriate professional property and finance advice before doing so.

With over 3,000 offices, CENTURY 21 is the largest real estate sales organisation in the Asia Pacific region, a region vital to Australia’s continued economic success.

Important rooms to focus on when selling your property

In my experience the property presentation debate can be fought both ways.  Some people will argue that presentation and tactics like home staging have the potential to add significantly to the selling price of a home, while others will disagree. 

Regardless of which side of the argument they fall on, I think that when selling, most people and their agents will try to make a property look its best.  And while ideally you’d like to be able to ensure that every room in a house or unit is prepared to look as good as it possibly can, many times we lack either the time or resources, or both, to give an entire property the golden treatment. 

To that end, if you are preparing your property for sale and know that you may not be able to give every room your full attention, it may be worth focusing on certain key areas to maximise the viewer appeal of your property.  

The first room that people walk into when entering your home is a strong contender to be the most important area to focus on when selling.  This is the first impression people will get, and their initial thoughts could shape their subsequent and overall opinions about whether or not to purchase the property. 

With this being the case, it is therefore important that this area gets the benefit of your focus when making selling preparations.  Ensure that your entry is not crowded with furniture and has ample room to allow your agent to chat to people as they enter.  Additionally, some attractive artwork could work well to make your property look elegant and inviting.   

Another important space to focus on is the main area where people congregate in your property – the living room for example.  Again, this room should not be crowded with furniture and the furniture that remains should be configured so as to convey a sense of interaction.  Essentially you are trying to make sure that prospective buyers can see themselves feeling at home in your property. 

The kitchen is a further essential area that deserves consideration.  No matter how the rest of a property is used, the kitchen is a room that is (in most cases) consistently utilised in the day to day movements of the occupants of a home.  Consider associating this space with notions of healthiness by ensuring it is clean on inspection day and even placing a bowl of colourful fruit in easy view of entrants.  If the kitchen in your property has windows, make sure they are open, maximising as much natural light as is available. 

In the end, buyers can usually make a decision on a property regardless of the way various rooms look.  However, it definitely can’t hurt to present your property in a way that appeals to as many buyers as possible, allowing them to visualise themselves living there.  While I can’t make any promises, this sense of connection could help prospective purchasers to assign a higher value to your property than what they may have otherwise considered it to be worth.

RBA leaves cash rate on hold at 1.5 per cent

RBA rate hold: 1.5%

CENTURY 21, a real estate organisation with over 100,000 staff in 78 countries, believes that the Reserve Bank of Australia’s decision to leave the official cash rate on hold may help to encourage stable price growth in varied real estate market climates.

Charles Tarbey, Chairman and Owner of CENTURY 21 Australasia, believes this decision was prudent due to markets around the country being at diverse points in their property cycles.

“The RBA has many considerations to juggle however in the past they have noted that the national housing market warrants careful monitoring and are paying close attention to the fact some areas are experiencing growth whilst others are in decline,” said Charles Tarbey.

“Leaving rates unchanged for now may help to avoid unnecessary stimulation in some markets while helping others to potentially improve.

“If you are contemplating a property transaction, it will be as important as ever to investigate property market conditions in your local area rather than relying headline growth figures. It is also important to consult your local real estate agent and mortgage professional to weigh up the best property investment strategy for your circumstances,” said Charles Tarbey.

According to CoreLogic, national dwelling values remained flat during August, with capital city values edging 0.1 per cent higher. Simultaneously, regional dwelling values slipped 0.2 per cent lower. 

CENTURY 21 encourages potential buyers who are looking to purchase real estate to ensure they have obtained the appropriate professional property and finance advice before doing so.

With over 3,000 offices, CENTURY 21 is the largest real estate sales organisation in the Asia Pacific region, a region vital to Australia’s continued economic success.