Market conditions providing opportunities for home buyers and investors

It may be that purchasing conditions for prospective residential property buyers could be set to improve, despite the Reserve Bank of Australia electing to keep interest rates on hold this week.    

Charles Tarbey, Chairman and Owner of Century 21 Australia, said that the conditions we are seeing at present are helping to create a window of opportunity for those home buyers and investors who are in a financial position to buy and who have sought the appropriate professional advice.  

“The number of residential properties on the market across the country continues to be strong, and with numerous potential buyers refraining from making a decision for the time being, those who are ready to purchase should have a fair amount of room for negotiation,” said Charles Tarbey.    

With attractive mortgage packages available, Charles encouraged those in a position to act to explore the purchase and financing options available to them.  

If you are ready to consider the purchase of a property and would like to get an idea about the options available in your desired location, do not hesitate to drop by any of the hundreds of CENTURY 21 offices around Australia to speak with a real estate professional.  

Protect your family and home from bush fires this summer

For Australians in many locations across the country, the summer months present the risk of bush fires and thus the threat of injury and damage to property.  For residents of such areas, it is very important to prepare for bushfires and to take action to reduce the associated risks.

One of the best ways to plan for the occurrence of a bush fire and to ensure the safety of you and your family is to put together a Bush Fire Survival Plan; the resources for doing so are available from the New South Wales Rural Fire Service’s website.  According to the Rural Fire Service such a plan can help stop you from making rushed and dangerous decisions at the last moment.  

The Rural Fire Service notes that the most important decision to make is whether you and your family will leave early or if you will stay and defend your well prepared home.  

As each bush fire and individual and family circumstances are different, the situation will determine whether it is safe for you to stay at your property to protect it – although leaving early is always the safest option.  However the RFS advises that regardless of whether you decide to leave early or stay and defend, you still need to prepare your property against the threat of a bush fire, as:

•A well prepared home is more likely to survive a bush fire
•A well prepared home can be easier for you and fire fighters to defend
•A well prepared home is less likely to put your neighbours’ homes at risk
•A well prepared home will give you more protection if a fire threatens suddenly and you cannot leave and have to take shelter.  

The RFS suggests a variety of measures that will help you prepare your home for a bush fire, including:

•Cut back any overhanging trees or shrubs and dispose of cuttings immediately
•Remove and store any flammable items away from the house
•Store wood piles well away from the house and keep covered
•Make sure the pressure relief valves on LPG cylinders face outwards
•Clean leaves from the roof, gutters and downpipes and fit quality metal leaf guards  

As mentioned, the NSW Rural Fire Service has a wealth of information and tips on its website that should help you to better prepare for bush fires this summer, ensuring the safety of yourself, your family and your property. 

Preparing for what the 2012 residential property market has to offer

Welcome to 2012! I hope everyone had a relaxing and enjoyable Christmas and New Year period.  Even for those who didn’t manage to take some extended time off, I hope you were able to celebrate with family and friends. 

2012 is now officially underway and the team at CENTURY 21 Australia are gearing up for what is sure to be an exciting year for the Australian residential property market.  I know that for many people the start of the year sees decisions made about whether to purchase or sell a property; for those with real estate plans for the year - I hope 2012 allows you to achieve your property ownership goals. 

So – what does 2012 have in store for the property market? Firstly, I think it is fair to say that 2011 concluded with a bang as the Reserve Bank of Australia moved to reduce interest rates in both November and December, giving many buyers a bit more comfort surrounding the prospect of buying a property. 

Will rates continue to come down? Many pundits certainly seem to think this will be the case, particularly if the situation in Europe is not resolved definitively.  While movement cannot be guaranteed and conditions can change, I would continue to watch this space, particularly as the Reserve Bank meets in February to review the official cash rate. 

Even if rates do not come down again, the two consecutive cuts in 2011 seem to have opened the door for many buyers, particularly those first timers in the property market.  However, while there continue to be many quality purchase opportunities available across the country, properties typically targeted by this market segment have performed well in recent months, particularly those in the $400,000 to $800,000 range.  In addition, CENTURY 21 has seen negative growth in the number of properties being listed of late – which could mean that we see a heightening of competition levels in 2012. 

As such, participants in this part of the market may do well to look to act decisively and have the appropriate finance in place so as to be ready to take advantage of purchase opportunities when they arise. 

I suspect that along with first home buyers, investors will also be taking advantage of reduced interest rates in at least the first half of 2012, with many engaging in portfolio building property acquisitions.  With a tight rental market across the country and rental rates rising, now could be a prime time to purchase your planned investment property.

All in all, 2012 is looking to be quite a busy period for the Australian housing market, and my team at CENTURY 21 Australia and I look forward to assisting many Australians in achieving their property ownership goals.  Please feel free to stop by any of the CENTURY 21 offices situated around the country to talk to a property expert about your purchase plans for 2012.