Value buying as sales season gets under way

FARMERS looking for value-for-money secondhand machinery should pick up a bargain this season at South Australian clearing sales.

Agents said while bigger machinery was difficult to move at the moment, livestock equipment was in strong demand.

The first auctions of the year with significant farming equipment were held at Malinong and Inman Valley on Friday, January 13.

Brock Harcourts agent Sue Brand, who ran the sale at Inman Valley on behalf of David and Beth Kay, said there was 111 registered bidders.

“They were almost exclusively from the Fleurieu Peninsula, but there was also interest from Victoria,” she said.

The top-selling items were a Mitsubishi 4WD, knocked down for $7500 and a Case IH 595 tractor that made $7000.

Fifty round bales of hay sold for $46 each, while cattle scales sold for $880.

There was strong bidding on portable sheepyard panels, which made $630.

One of the big ticket items, a Leyland tractor, failed to sell at auction.

Auctioneer Mark Forde said while there was a strong crowd of more than 300 people, prices were not over the top.

“Things are getting a bit tight, so it could be a good opportunity to get items without paying too much,” he said.

Spence Dix & Co agent Mark O’Leary said there were 113 registered bidders at the Malinong sale, but larger plant – such as headers and tractors – failed to sell. The sale was held at Dean Bagshaw’s property, which has been sold.

“It was a solid sale, but it wasn’t anything over the top, stuff sold for what it was worth,” he said.

Interest at the sale came from the Eyre Peninsula, Mallee, South East and locally.

The big ticket item was a Walsh & Ford 18-tonne chaser bin sold for $25,000.

A stone-roller made $16,000, while a Jackson 180t field bin made $4200.

A Chamberlain C670 tractor, with 5527 hours of drive-time, went for $10,200 while a Simplicity airseeder and box made $15,000.

A TPW woolpress made $8100, a children’s four-wheel Yamaha motorbike sold for $1300 and a Cole seed and super unit made $5600.

Source: stockjournal.farmonline.com.au

Rental prices shoot up as sales steady

RENTERS are opening their wallets wide as prices skyrocket – even doubling in Glenelg in the past year.

The state’s premier seaside suburb saw a 100 per cent spike in average weekly house rent – from $245 to $490 – a snapshot of the rental market by real estate analyst RP Data shows.

The Bay is one of nine hot property sites across the state recording house rent rises in excess of 20 per cent last year compared with 2010.

Among the big movers were West Beach (up 40 per cent), Whyalla (38 per cent) Roxby Downs (29 per cent) and Royal Park (27 per cent).

Unit rents also soared more than 20 per cent in Warradale, Wayville, Salisbury, Rose Park and Mile End.

The Real Estate Institute of SA said a lack of buying commitment was driving greater demand for rental properties in popular locations.

“More people are wanting to move to luxury properties in suburbs like Glenelg and West Beach but they are taking the rental option instead of committing to buying a home,” institute president Greg Moulton said.

“The rental increases in places like Roxby and Whyalla are tied to more people moving up there to work as the increase in mining operations comes to fruition.”

But the average weekly cost of leasing homes was also falling in other locations, RP Data found, with the worse hit St Georges (down $175 to $475), Aldgate (down $128 to $473) and Newport Quays (down $90 to $360).

RP Data has also revealed West Lakes is the most expensive suburb to rent a house, costing $580 a week on average. Peterborough in the state’s Mid North provided the cheapest housing accommodation at an average of just $145 a week.

But Peterborough provided landlords with the greatest gross rental yield – 7.7 per cent. In contrast, gross rental yields in West Lakes were 4.3 per cent last year.

Overall, the property market is set for an increase in rents this year, according to real estate agent Anthony Toop.

“We are likely to see up to 10 per cent increases in rents in the more affordable inner city suburbs,” he said.

Source: Adelaide Now

Younger buyers boost home sales

THIS year will herald the return of first-time homebuyers to the market, northeast real estate agents say.

But do not expect to make any big gains if you put your home on the market in 2012, as agents say significant growth is still three to five years away.

In the past two weeks, Ray White Northeast agent Shane Illman has sold four houses to first-home buyers and said he expected the trend to continue.

“This year I have seen a big increase in the number of new homebuyers coming to open inspections,” Mr Illman said.

“I expect that to continue during the year but it depends on the banks as well.

“You need bank support for home loans in order to get new homebuyers in the market.”

Mr Illman said that 2012, like 2011, would be a buyers’ market.

“If buyers can hold on to their houses for three, four or five years, they will definitely see some growth in the property value,” he said.

“But we aren’t going to see any quick gains in this market.”

As of September 2011, Vista, Golden Grove and Holden Hill were the best performing suburbs reporting increases in house prices of 13.9, 10.6 and 7.3 per cent respectively.

Highbury reported the biggest decrease in house prices of 4.3 per cent, while Modbury and Redwood Park both dropped 3.9 per cent, according to RP Data.

Toop & Toop Golden Grove agent Len Allington said buyers should continue to focus their attention on properties in Golden Grove in 2012.

“The suburbs that have seen growth have seen it for a reason and that will continue,” Mr Allington said.

“Good infrastructure, schools and parks all make a difference.

“This year I think we will see some of the older homes in Golden Grove come on the market as older owners downsize.”

Brock Harcourts Gold director Andrew Simpson said 2012 would be a year of stability.

“Correctly presented and well priced homes will sell,” he said.

Investing in the future
TROY and Jessica Stearnes were thinking of their future when they decided to build their home in Golden Grove.

The couple, who bought land at The Settlement development in 2008, moved into their four-bedroom, two-bathroom house a year ago.

“We have always loved the northeast and we wanted to be close to our parents,” Mrs Stearnes, 24, says.

“We also wanted to be close to the schools here for when we have kids.”

The pair spent $500,000 on their 649 sq m block and home.

“We spent the extra money and got a larger house because we want to remain here for the long haul,” she said.

“Golden Grove is where we want to raise a family.”

Mrs Stearnes said the suburb’s stable house prices were part of its appeal.

“We always knew that Golden Grove would remain stable or increase in worth and that is part of the reason we built here,” she said.

Mrs Stearnes listed good public transport, shopping centres and lots of open space as other factors.

“I work in the city and I can get on the O-Bahn quite easily. We just love it here.”

Source: Leader Messenger

ACT tops Australian property hot spots

Canberra tops the list

 

 

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Canberra tops the list

Canberra is no longer just a hotspot for politicians, it’s now topped a list of the best places to invest in property.

TEN17 January 2012

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Canberra: Not just popular with politicians. Source: Supplied

 

 

 

Perhaps it’s properties like the PM’s residence, The Lodge, that makes Canberra popular with investors. Picture: AAP Source: AAP

 

 

 

 

PROPERTY investors should think of Canberra as one of the best spots in the country, a new survey finds.

Canberra tops a list of 50 hot spots identified by an expert panel for magazine Smart Property Investment.

They said the city’s high incomes and a scarcity of land would underpin strong growth in property prices.

The panel also highlighted 18 suburbs and towns in NSW, including Muswellbrook, Bathurst, Penrith, Blacktown, Neutral Bay and Goulburn – making that state dominant.

Resource towns in Queensland and Western Australia were strongly represented, particularly the boom regions of Surat and Bowen Basin and the Pilbara.

There were also six areas in South Australia and four in Victoria.

The magazine’s editor, Phillip Tarrant, said the investment hot-spots were chosen based on their population growth, demand for housing, income level, employment, vacancy rates, previous capital growth and current gross rental yields. 

He said while capital growth on investment properties was no longer guaranteed, it was still achievable if buyers did their homework.

“If you pick your suburbs and areas carefully, capital cities can offer a good, safe investment,” he said yesterday.

“However, for investors chasing more lucrative returns, strong, diverse regional centres are proving a very popular choice with the experts.”

 

Read more: http://www.news.com.au/money/property/act-tops-property-hot-spots/story-e6frfmd0-1226246022686#ixzz1jwoati1r

Demand for Hills homes on the rise

INTEREST rate cuts and a return of first home buyers to the Hills market is expected to boost high-end property sales this year, local real estate agents say.

The number of homes in Hills suburbs selling for more than $1 million dropped to four last year compared with nine in 2010.

RP Data figures show the most expensive property – a Belair home with a swimming pool and tennis court on Centre Way – sold for $1.125 million.

This figure was half the price of the most expensive home sold in 2010 – a property on Adamson Tce, Belair, which fetched $2.25 million.

Brock Harcourts Aberfoyle Park principal Scott Torney said the slowdown in the lower price brackets, caused by a reduction in first home buyers last year, had flowed on to the top end of the market. He said a series of recent interest rate cuts would help boost sales this year.

LJ Hooker Blackwood principal Mark Burns said the property market looked promising in “every sector” in 2012.

“It really does come to simple demand and supply … last year the supply of high-end properties increased and buyers disappeared,” Mr Burns said.

“But it’s looking promising in 2012.”

Pick up your Hills & Valley Messenger this week for more local property news or access our digital edition online.

First-homeowner grants dive in SA

PAYMENTS of the first-homeowner grant have fallen 20 per cent in the past year as banks tighten lending.

Government figures released to The Advertiser show 6562 first-home grants were paid between December 2010 and November 2011, compared with 8135 in the same period the previous year.

The most popular areas for first-home buyers are in Adelaide’s outer northern and southern suburbs, including Paralowie and Morphett Vale.

Finance Minister Michael O’Brien said the foreshadowed axing of Federal Government first-home buyer support caused a rush in 2010.

“There was a reasonable `pull forward’ effect where people made purchase decisions that they may otherwise have deferred,” Mr O’Brien said.

“There is also general softness in the housing market (currently) which is reflected nationally in construction starts and a general fallback in property values.

“What we’re seeing in SA is pretty well mirrored in the other states.”

In this year’s Budget, the State Government announced it would cut its $8000 first home bonus grant by July 1, 2013.

Real Estate Institute of South Australia president Greg Moulton said the drop in first-home purchases was larger than the cutback in activity across the general market.

“Affordability is one issue (for first-home buyers) and banks are getting tougher with their lending criteria,” he said.

“Stamp duty is just ridiculous. If I was a state government I’d be looking at other ways to get money.

“It’s a hell of a slug for people trying to save a deposit and buy a home.”

Mr Moulton said conditions for buyers would improve in 2012 as interest rates were forecast to be further cut.

The first half of next year would be the best time to enter the market as sellers had reduced their prices to meet a wary market, he said.

Figures show the number of first-home sales increased in the second half of this year after bottoming out at 456 in April.

The Housing Industry Association says releasing new land would bring down prices and help first buyers.

Opposition finance spokesman Rob Lucas said the state tax regime was one of the highest in the nation and high stamp duty costs made it hard to attract and keep young people in Adelaide.

Source: Adelaide Now

Planning To Invest In Adelaide Real Estate-Now Is The Time!

Although Adelaide might not be the biggest city in Australia, it is appealing to thousands of expats who currently make-up a substantial percentage of the population. What does Adelaide real estate market and the city itself has to offer to the many investors who are looking for homes and properties for commercial development?

This city can be found on Australian’s South Eastern coast and has a historical past since 1836 that can be traced back the time when it was one of the well-known British colonial areas. It quickly established itself as one of the major trading points in Australia with a prosperous economy, high opportunities for employment and the city and surrounding areas continues to appeal to substantial overseas interest. It is debatable as to whether or not the climatic conditions in Adelaide is too warm for most expats, but there is certainly no shortage of individuals who want to live and conduct business in this city.

Officially categorized as the 5th largest Australian city, Adelaide real estate also carries a populace of 1.3 million with overseas residents making up the higher percentage. Notable groups in the area include the Italian, English, Scottish, Greek and Vietnamese even though there are different nationalities sprinkled in and around the area. Whilst still categorized as the 5th biggest city the rate of development in the Adelaide population is lower than areas like Melbourne, Perth and Sydney.

Adelaide real estate economy seems to have rebounded from the financial meltdown during 1992 to emerge as the centre for government services in addition to having substantive manufacturing, commodities, services and defense sectors in and around the city. This rebound continues to expand in strength and size and most investors believe that sectors such as Adelaide property market is well-positioned to boom in the future.

The transport system in the city is very efficient, reliable and modern making it easy to travel between points in Adelaide in just twenty minutes.

Adelaide Real Estate – property prices
The recent economic downturn worldwide affected the property market in all countries, but the Australian and Adelaide  real estate market rebounded faster than most. Indeed, the real estate market has been growing with property prices increasing significantly in recent years. This renewed growth in the property market is a good indication that Adelaide economy and the city itself continues to appeal to a lot of overseas investors.

Source: Home Street Real Estate

Millions slashed off Adelaide house prices

MILLIONS of dollars are being wiped off house prices as sellers “get real” with values, agents say.

A luxury property at Glenelg North, now listed with Toop & Toop, is nearly $1 million less than the last time it was on the market.

The 5 Cygnet Court property has a price guide of $6.9 million. When listed by another agency in June 2010, the asking price was $7.75 million.

LJ Hooker West Lakes sales partner Donna Farquhar is considering enlarging the “reduced $100,000″ sticker on a house she is selling on Semaphore Rd, Exeter.

Despite the property being rented out for $480 per week, she said the owners were “motivated to sell”.

“Realistic pricing is so important because there is so much competition out there,” Ms Farquhar said.

Real Estate Institute of SA president Greg Moulton said it was “critical” that vendors set a realistic price.

“Otherwise, there is no way you will sell your property,” Mr Moulton said.

“People are being very careful with their money and even though it is an emotional purchase, they are not going to pay more than the property is worth.”

Source: AdelaideNow

Mr Moulton said the biggest discounts were in properties worth more than $2 million, where a 2 per cent discount or more was common.

Toop & Toop managing director Anthony Toop said vendors needed to be careful when considering an asking price for their property and should not be seduced by the idea of getting the highest price.

“The pricing should be left to the valuers and the sales and marketing left to agents,” Mr Toop said.

“Rather than having an agent price the property for you, they should point out to you homes that have sold in that area and are most similar.

“Don’t consider sales before 2011 because the 2009 and 2010 sales may be well over the price you will achieve at the moment.”

Mr Toop said it was vital that a property was correctly priced from the outset of a sales campaign as potential buyers were unlikely to return.

Finding the perfect investment property

When purchasing a rental property the potential for capital gain is always front of mind. Capital gains however are not normally realised until many, many years after the purchase date. In the meantime you must service that loan and ensure your investment is protected into the future.

While we wait for capital growth to soar on our investment property, maintaining a low vacancy rate is not only appealing, but essential. Attracting the right tenants to your property is critical and can avoid the financial and emotional pain of dealing with ever changing tenants, difficult tenants, or, the dreaded “tenants from hell”!

When investing in residential property it is important to look at things through the eyes of your future tenant.

What will attract a GOOD tenant to your property and how do you ensure they stay, long term? Never forget that your investment property is your tenant’s home and attracting a house-proud tenant will always pay dividends.

Good tenants are attracted to specific qualities:

- A good tenant will be attracted to a property surrounded by nice houses with good, quiet neighbours
- Is the neighbourhood safe and secure? If the local area showcases the work of graffiti artists and vandals, is this likely to be attractive to good tenants
- Is there access to public transport and shops?
- Is the property in a built up area and if so, does your property provide access to secure off street parking?
- Families will be interested in local schools, what are they like, are they close by and do they have good academic status?
- Young people may prefer the café and cinema scene or access to recreational facilities such as gyms, pools, local sport fields and clubs?
- Is the property pet friendly and have a backyard for the kids?
- Entertaining areas such as an outdoor BBQ in a private covered patio or balcony are always attractive as is a modern kitchen, bathroom and open house plan.

Above are just a few things to consider when purchasing an investment property. Once you have attracted GOOD tenants it is essential you keep them and this is where you, as a landlord must shine. For tips on being the BEST Landlord visit www.landlordspecialists.com.au and sign up for your 7 vital facts.

 

Source: realestate.com.au