Viewing by month: May 2016

A change of scenery

A change of scenery

For years, packing up and moving close to the coast or the country seems to have been the long awaited dream for retirees. However, recent data trends show a shift to coastal and regional areas or 'lifestyle locations' is increasingly being made by young families.

CoreLogic RP Data analysis of ABS data suggests that this trend is also having the effect of increasing property prices in many of these areas. Over recent years, growth in these areas has underperformed.

This trend may be propelled by young families struggling with housing affordability in bigger cities. Or, many may be cashing in on recent house price growth and using this new equity to purchase properties in lifestyle areas where they may get more 'bang for their buck'.

For many, easy access to the beach or peaceful country surroundings, a lack of standstill city traffic and a more intimate community atmosphere may be the bonuses that come along with greater affordability in 'lifestyle' markets, compared to capital cities.

Alongside these benefits, many coastal and regional city centres can provide reasonable access to large cities. For example, the Central Coast region in New South Wales is only located around one to two hours from Sydney city and is accessible via public transport. Choosing to move further away from urban centres need not mean total isolation, in pursuit of a lifestyle change.

If a change of scenery is what you are looking for, consider speaking to your local agent and a referral could be made to a relevant CENTURY 21 agent operating in your ideal lifestyle area.

0 comments | Posted by Charles Tarbey on 20/05/2016 at 3:28 PM | Categories:

Three advantages of selling your property at auction

Three advantages of selling your property at auction

The high pressure of an auction may seem like an intimidating experience for some. However, here are three common advantages that should be considered when weighing up whether auction is the best means to sell your property.

Quick result
Some buyers may be cautious about whether to take a leap into a purchase or not, potentially resulting in lengthy negotiations. Due to the immediate nature of an auction, buyers are compelled to make a faster decision, which can mean you sell a property quicker in many instances. This quick result could also be beneficial if your sale is being made under pressure, such as the need to relocate for work.

Make a move or miss out
The heat of the moment and the competitive nature of auctions can have the power to drive the price of a property up, which can be beneficial for a vendor. The thought that a buyer may miss out on their ideal property may create a greater sense of urgency during the auction, and may help you to achieve the best possible sale price.

Safety net of a reserve price
Setting a reserve price provides assurance that an auction must meet a minimum price expectation. To ensure this price is the ideal reserve, attending local auctions will help to determine the market value of your home and help you set price expectations. You should observe whether properties are selling in your area at auction and if so, what prices they are reaching. Do these prices suit your expectations? You may also get a feel for bidding conditions, and how fiercely bidders are competing for similar properties.

Of course, before making any decision about the best way to sell your property you should carefully consult with an agent and your advisors, and undertake extensive market research.

0 comments | Posted by Charles Tarbey on 09/05/2016 at 9:33 AM | Categories: