Sydney Buyers Agents

PK’s Sydney Property Market Update April 2012

lana — Tue, 24 Apr 2012 07:31:06 +0000

Easter and school holidays have not seemed to dampen the enthusiasm in the Sydney marketplace in certain segments. We are still seeing a shortage of stock in the blue chip areas of Sydney especially in the unit market $500-$750,000 range and now free standing homes up to $1.5 million and then from $2 to $2.5 million.

Everyone is talking about an interest rate cut in May and that might very well happen, and if it does you watch the bottom of the Sydney property market fly.

I have been writing in all my newsletters for the past 5 months or so that I believe rents will back off in 2012 and landlords will no longer be king, as more buyers will move out of the rental market and start purchasing. Well this was confirmed by RP Data and Australian property monitors reporting that March was a month of stabilising rents in Sydney.

Understand everyone that the government are now determined to fire up the property market and the economy in general, and how they do this is not complicated. First of all interest rates get to a level where the gap between renting and buying becomes minimal, and once the market starts to move upwards people start to trade in the housing market again. Capital growth usually runs for about 2 to 3 years before interest rates get too high and the cycle starts all over again.

Understand if people see their property grow in value, they feel more secure in life and therefore happier and spend more money out there in the economy. It’s all about consumer confidence.

PK’s Sydney Property Market Video Update April 2012

PK’s Property Market Predictions for 2012

The Sydney market in general started to move around November 2011, and there is no doubt that 2012 has been a much better year than 2011 which in my mind would have been the perfect year to buy.

If you are looking at upgrading this is the perfect time to do it, and should you be investing rental increases will be minimal for the next 3 years but capital growth will be exceptional.

PK’s Hot Tip

Also don’t forget PK’s tutorial 2min youtube videos showing you hot tips and negotiating tricks of the trade.

If you would like to receive PK’s Sydney Property Market updates, hot investment tips and much more please click hereOr call one of our buyers agents today on (+61) 2 9904-3444 or email us so we can help you find your next dream home or investment property for the lowest possible purchase price.

Socialise

PK’s Sydney Property Market Update March 2012

PK — Fri, 23 Mar 2012 05:05:26 +0000

PK’s Sydney Property Market Update March 2012

Better late than never everyone, sorry it’s been a little bit busy at PK Property this month the market has really taken off.

Well, what a difference 1 year makes, I think everybody is sick of the doom and gloom and has suddenly decided to get on with their lives which is definitely reflecting in numbers turning up at open inspections. Our sales have been incredible the last 4 weeks with 4 purchases in Manly alone and many more all over Sydney. There are reports that stock levels in Sydney have risen, but in the East, Lower North Shore, Inner West, and Manly / Freshwater area up to $1.5 million in houses it is dire.

PK’s Property Market Predictions for 2012

With interest rates at all time lows and banks being extremely competitive to win the business, I think you will see a lot of renters come out of the rental market into the property market to buy in 2012. The landlord has been king for a long time and my tip is that while interest rates are low and property prices are subdued, you will see a good influx of buyers in the $350,000 to $1 million range start to enter the market in 2012. As the lower end starts to recover and more people come out of the rental market and buy, that’s when capital growth starts and rents ease. I think the upper end will still struggle this year but I do believe that up to $2.5 million on the Lower North Shore in houses there will be a revival which will slowly creep down to the Upper North Shore by Spring. On the Northern Beaches up to North Curl Curl I think you will find these areas will also start to pick up considerably due to low stock levels, and it will be great buying all year up to Palm Beach. The Eastern Suburbs up to $3 million in houses should be pretty strong, above that no change from last year unless the stock market really shows signs of taking off. The Inner West will show continued signs of strength throughout the year and I do believe rental prices will stay strong.

Overall I don’t think there has been a better time to upgrade or get off that rental treadmill, as it is always hard and dangerous to try and pick the bottom of the property cycle but under these present circumstances I do think we are there now.

PK’s Hot Tip

Don’t leave it another day to do that upgrade to another property or buy that investment property as things seem to be so much better than 2011.

Socialise

PK’s Sydney Property Market Update February 2012

Marie — Wed, 15 Feb 2012 06:47:32 +0000

As we head into 2012, there are still some dark clouds looming over Europe but slowly but surely things seem to be on the mend.

The interesting one at present is probably the United States which has finally got their unemployment rate down to 8.3% after being at over 9% for the last 3 years. We are seeing signs of recovery there, and as the green shoots start to appear and the US economy gets stronger we will eventually see our Australian dollar get down to a more realistic level.

Agents are reporting that there is a 20% drop in listings than this time last year, and that the number of buyers inspecting properties is up by a considerable amount since last year, with an average of 30 people through each inspection over the last 2 weeks. They are also reporting that their January sales have been on average the best in 2 years.

On my side the enquiry and clients signing up in January wanting to purchase a property has been I think probably my best January ever.

PK’s Property Market Predictions for 2012
With interest rates at all time lows and banks being extremely competitive to win the business, I think you will see a lot of renters come out of the rental market into the property market to buy in 2012. The landlord has been king for a long time and my tip is that while interest rates are low and property prices are subdued, you will see a good influx of buyers in the $350,000 to $1million range start to enter the market in 2012.

As the lower end starts to recover and more people come out of the rental market and buy, that’s when capital growth starts and rents ease. I think the upper end will still struggle this year but I do believe that up to $2 million on the Lower North Shore in houses there will be a revival which will slowly creep down to the Upper North Shore by Spring.

On the Northern Beaches up to North Curl Curl, I think you will find these areas will also start to pick up considerably due to low stock levels, and it will be great buying all year up to Palm Beach. The Eastern Suburbs up to $3 million in houses should be pretty strong, above that no change from last year unless the stock market really shows signs of taking off.

The Inner West will show continued signs of strength throughout the year and I do believe rental prices will stay strong.

Overall I don’t think there has been a better time to upgrade or get off that rental treadmill, as it is always hard and dangerous to try and pick the bottom of the property cycle but under these present circumstances I do think we are there now.

PK’s Hot Tip
PK Property was the first buyers agent to establish itself in Sydney back in 1997, that’s 15 years this year. In the time I have had the business I would have to say that I am saving more money for clients at present than I ever have.

If you need a hand searching for a property, or someone to negotiate one that you have found, please don’t hesitate to call one of our buyers agents today for some free advice on your purchase.

If you would like to receive PK’s Sydney Property Market updates, hot investment tips and much more please click here Or call one of our buyers agents today on (+61) 2 9904-3444 or email us so we can help you find your next dream home or investment property for the lowest possible purchase price.

PK’s November / December 2011 Sydney Property Market Update

PK — Tue, 29 Nov 2011 00:44:20 +0000

PK’S Sydney Property Market Update

November / December 2011

1. We Are Now Entering the Next Upward Phase
2. PK’s November / December Sydney Property Property Market Update
3. PK’s November / December Sydney Property Market Video Update
4. PK’s Hot Tips

Peter Kelaher

Managing Director

We are now entering the Next Upward Phase

After being the principal of PK Property for just on 15 years now I know the telltale signs of when the property market is about to enter it’s next capital growth cycle. One of the main signs is the volume of telephone enquiry we receive at the office, but most of all it’s what that phone enquiry is saying to our buyer’s agents. The main theme over the last 6 weeks is that buyers are telling us that they think the time is right to buy now.

With variable and fixed rates available under 6% and the drop in interest rates this month plus further predicted rate cuts on the way, there is no doubt that the government wants to not only protect our economy but also stimulate it.

Other signs of stability moving forward are the figures of the recovery in housing finance volumes for September which rose to its highest level since back in the boom days of 2009.

With unemployment rates staying steady over the past month of October, and Westpac reporting consumer sentiment surging 6.3% in November to 103.4 points which is above the long term average Australia is looking in tip top shape compared to the rest of the world.

Over the recent weeks we have purchased well over $30 Million in property and still going strong, these are just a few properties purchased of late. Please note due to confidentiality reasons we can’t publish some of the properties we have purchased.

23/120 Burns Bay Road Lane Cove $536,500
asking $550,000

3 Grosvenor Street Wahroonga $1,910,000
asking $2,100,000

10D/2 Bowman Street Pyrmont $2,500,000
asking $2,550,000

13/ 147 Bradleys Head Road Mosman $2,450,000
asking $2,550,000

3/68 Addison Road Manly $1,580,000
asking $1,650,000

26 Young Street Redfern $760,000
asking $800,000

24 Patrick Street Willoughby
confidential

12 Grafton Street Cremorne $1,560,000
asking over $1,600,000

48 Dalton Road Mosman $1,625,000
asking $1,700,000

7/4 Paling Street Cremorne $620,000
asking $650,000

3/26 Parriwi Road Mosman $1,550,000
asking $1,700,000

1a Harris Street Willoughby $1,065,000
Purchased prior to auction asking over $1,100,000

96 Newman Street Newtown $915,000
asking $1,025,000

7 Baringa Avenue Seaforth $915,000
Asking $930,000+

90/362 Mitchell Road Erskineville $425,000
Asking $425,000

9/23-31 Whistler Street Manly $760,000
Asking $785,000

3/86 Kurraba Road, Neutral Bay confidential

32 Ronald Ave, Greenwich $1,390,000
purchased at auction

4 Sirius Cove Rd, Mosman $2,630,000
asking $2,750,000

30 Valerie Ave, Chatswood West $950,000
Prior to auction saving $70,000

4 Laguna Rd Northbridge $1,950,000
asking $2,200,000+

14 Drynan Street, Summer Hill
confidential

52 Holmwood St, Newtown $760,000
asking $780,000+

4 Sirius Cove Rd, Mosman $2,630,000
asking $2,750,000

30 Valerie Ave, Chatswood West $950,000
saving $70,000

4 Laguna Rd Northbridge $1,950,000
saving $250,000

18 Ingleside Road Ingleside

confidential

3/62 Carter Street Cammeray

confidential

PK’s November / December Sydney Property Video Market Update

Click the image to view the video

PK’s Property Market Predictions for 2012

Unfortunately stock levels for spring were nowhere near as high as all agents expected therefore competition has been stronger.

Heading into 2012 we will be seeing a drop in interest rates to shelter us from the global turmoil and in turn will fuel the property market to the tune of around 10% over the next twelve months in certain price brackets and segments of the Sydney market.
I believe the aussie dollar will also come down to reasonable levels and therefore stimulate the expatriate market buying back into Sydney.

I also think that rents are peaking and that landlords will see smaller rental increases moving forward because more people will be buying now. But that just means for the investor smaller rental increases but stronger capital gains.

All in all a great year coming up for the Sydney property market in 2012.

PK’s Hot Tip

From this time in November until first week of February it is no doubt the biggest bargain time of the year to buy but the only problem is a lot of the time you don’t have the choice of stock like you do in the middle of Spring. The reason it is a great time to buy is because vendors are wanting to move their properties before the end of the year, or at the latest early next year to just clean the slate and move on. Another reason is that people have bought before they sell in spring and are now under pressure to sell late in the season.

If you would like to receive PK’s Sydney Property Market updates, hot investment tips and much more please click here Or call one of our buyers agents today on (+61) 2 9904-3444 or email us so we can help you find your next dream home or investment property for the lowest possible purchase price.

Socialise

‘Sunrise’ Buying Your First Investment Property with Peter Kelaher and Andrew Winter

PK — Wed, 12 Oct 2011 23:52:54 +0000

If you’re new to the property market, and want to buy your first investment property, we have all the top tips to get started.

PK’s Sydney Property Market Update October 2011

PK — Wed, 12 Oct 2011 04:45:21 +0000

PK’s Sydney Property Market Update October 2011

With listings not coming on in the volumes that were to be expected, spring is now looking a little bit more subdued than first thought.

The expatriate market has come back with a vengeance since the Aussie dollar has dropped, and first home buyers are flooding through our doors at present looking for an upper hand in a very tightly held market. All in all there are no complaints at PK Property, and should there be an interest rate drop in November that will really show us that we have hit the bottom of this downward cycle.

For my article this month I am going to reproduce an article that was written by Jonathan Chancellor published on Property Observer (www.propertyobserver.com.au) this week by BIS Shrapnel the most respected, accurate and independent property forecaster in Australia.

Housing prices to increase by about 20% in Perth and Sydney by 2014: QBE LMI report
By Jonathan Chancellor
Tuesday, 11 October 2011

Price growth of 20% is forecast for Perth and price growth of 19% is forecast for Sydney by 2014, according to the QBE Lenders’ Mortgage Insurance housing outlook report researched by BIS Shrapnel.

In Perth the forecast reflects the stronger economic conditions driven by accelerated investment in the mining and resource sector, and in Sydney the forecast is a result of the growing deficiency in household dwelling supply.

Overall house prices in Perth are estimated to rise by a cumulative total of 20% over the forecast period – the highest among all capital cities – to $565,000 as at June 2014.

This reflects price growth of around 6% per annum, which is similar to the expectation of household income growth over the three years to 2013-14, and equates to an 8.8% total rise in real terms.

The Sydney median house price is forecast to lift by a total of 19% to $770,000 over the three years to June 2014, a total rise of 8.1% in real terms, according to 2011-14 report released today.

In Sydney, owner-occupier and investor demand is forecast to rise in 2012, underpinned by the rising dwelling deficiency and strengthening economic conditions, leading to higher price growth and dwelling construction.

The report shows that although the median house value rose to $644,700 in June 2011, real house prices in today’s dollar terms remain below their median house price peak of $707,000 in the March 2004 quarter.

The underlying strength of the Australian economy and the continuing shortage of residential housing in Australia, together with stable interest rates, is expected to support Australian housing prices, according to the QBE LMI housing outlook report.

Ian Graham, chief executive of QBE Lenders’ Mortgage Insurance Limited (QBE LMI), says despite the current volatility in the global economy, QBE LMI is cautiously optimistic about the outlook for the Australian housing market.

But Melbourne in the three years to June 2014 is forecast to have the lowest price growth of 6%, due to record levels of new dwelling supply eroding the current dwelling deficiency.

More moderate house price increases between 6% and 8% are expected in Adelaide, Hobart and Canberra.

There is solid price growth of 16% tipped for Brisbane and 17% in Darwin.

First-home buyer demand, which has suffered recently, is forecast to enter a recovery phase through 2012 as the economic outlook becomes more positive and in the anticipation of first-home buyer confidence strengthening as housing becomes more affordable. Investor demand is expected to recover over 2011-12, in line with first-home buyer demand, and support prices at the entry-level end of the market.The current stability in interest rates is expected to continue well into 2012. There is now a possibility that the Reserve Bank of Australia could cut interest rates in late 2011 to kick-start a recovery in consumer confidence and spending, thereby initiating the next phase of demand, the recovery in the economy and housing market.Graham notes that Australia is well placed to deal with any uncertainty that our economy or housing market faces in the next few years.

PK’s Sydney Property Market Predictions

I have to agree with BIS Shrapnel’s review of the Sydney property market moving forward, mainly due to interest rates now being steady or dropping and the lack of available stock. In the inner west I see properties up to $1.5 million achieving BIS Shrapnel’s forecasts and in the eastern suburbs up to $3.5 million achieving the same forecasts. The lower and upper north shore up to $3 million will achieve their forecasts and certain parts of the northern beaches up to $2.5 million mainly from Manly to Collaroy and certain pockets further North.

PK’s Hot Tip

Engaging a buyer’s agent will assure you of seeing everything that is not advertised to the public market and also save you a lot of wasted time looking at properties that don’t suit your brief. Call one of our buyers agents today so we can get you settled in before Christmas.

PK’s Sydney Property Market Update September 2011

Marie — Tue, 27 Sep 2011 23:13:31 +0000

Auction Clearance Rates Hit 59%

The reason I have left my newsletter until the end of September is because I really needed to gauge how super Saturday went.

Well 500 properties went up for auction last Saturday the 25^th of September and auction clearance rates of 59% were achieved a result that even amazed me. With first homebuyer incentives, very little stock on the market and interest rates now steady, everyone is feeling comfortable to trade in this marketplace. With the Australian dollar hitting lows of 97 cents this week, the expatriates have been back on the phone looking for a bargain.

Our buyer’s agents have been busy purchasing everything from substantial homes in Lindfield, Northbridge, Greenwich, Mosman to penthouse beach apartments in North Curl Curl and 2 bedroom apartments in Cremorne.

We are finding that vendors are now meeting the market because they want to buy before Christmas, and most people are opting to sell before they buy.

I have had PK Property coming up to 15 years now and since introducing the whole buyer’s agents concept to Sydney, I have never seen a market where our buyer’s agents are saving our clients more money than ever before.

The selling agents seem to be a little nervous and not confident enough to push for a higher price as they normally would, because they simply just don’t have enough competition on the table. There’s no doubt I can feel a change in the air happening at present because its all about stock levels and some vendors are just choosing not to list their properties for sale creating a higher demand from buyers therefore pushing prices up.

BIS Shrapnel, probably the most respected forecaster in the property space, has come out this week saying Sydney prices will move a bullish 6% over the next 12 months and I must admit I am yet to see them wrong over the 15 years I have had my business.

I think the only thing that will upset growth like that will be a hike in interest rates but NAB came out last week saying they don’t expect a rate hike until November 2011 and cuts could even occur.

PK’s Sydney Property Market Predictions

The higher end has been performing a little bit better over the last 6 weeks with many people opting to upgrade. I recently purchased a property in Mosman for just over $5.75 million when it had an asking price of around $6.4 million.

I think the higher end of the market will still struggle next year but the market from $2 to $3.5 million will start to gain some momentum.

We also purchased a substantial family home in Northbridge last week from L.J. Hooker Northbridge that had an asking price of $2.3 million but after long negotiations got it for $1,950,000. October 16^th is when it all starts up again after the school holidays but I am hearing that in certain areas the stock is still thin on the ground and if you don’t find anything before Christmas you will have to start your house hunting end of February next year.

PK’s Hot Tip

Engaging a buyers agent will assure you of seeing everything that is not advertised to the public market and also save you a lot of wasted time looking at properties that don’t suit your brief. Call one of our buyer’s agents today so we can get you settled in before Christmas.

PK’s Sydney Property Market Update August 2011

PK — Fri, 12 Aug 2011 07:28:38 +0000

Property Will Be the Safe Haven Moving Forward – Watch it Go

The stock market crash this week has only shown once again like it did during the GFC that property is safe, secure and reliable over the long term.

Over the last 4 weeks we at PK Property have bought over $25 million dollars worth of property everything from multi million dollar houses in Mosman to apartments in the East, and houses in the Inner West and Northern Suburbs. With interest rates now going now where fast, the property market is set to have it’s little party yet once again.

There’s no doubt that the upper end will still be a bit sluggish moving forward mainly because the people that are buying in that market are mostly in financial services and that industry unfortunately still has a lot of insecurity around it at present.

The property investment market is going to go crazy from here because at present you are guaranteed 4 things;.
1. Literally no vacancy for your investment with vacancy rates sitting around 1%
2. A near guaranteed rent increase year on year for at least the next 3 years
3. Guaranteed a capital gain even if it’s small
4. Interest rates now look as though they are stabilising

Please note everyone stock is getting really low in parts of Sydney at present, and I am hearing through agents with only a couple of weeks to go before spring that they are not getting called into any new listings. It’s going to be a tight competitive spring and with school holidays interrupting the selling cycle you might as well get house- hunting now.

PK’s Sydney Property Market Update Video

PK’s Sydney Property Market Predictions

As I said still a sluggish market for over $2.5 million dollar purchases but under that good family homes on the Upper North Shore, Lower North Shore, Eastern Suburbs and Inner West will be in hot demand.

When I said good family homes I mean nothing with warts on them, they will need good floor plans, descent block sizes, facing the right direction/s and close to transport.

The investor market for units in these locations price ranges between $500,000 to $750,000 will have huge demand because of a terrible lack of stock, and investors flooding back into the property market because of the stock market crash. Overall all looking good for the property market over the next 12 months.

PK’s Hot Tip

It’s time to invest and upgrade, becuase you will start to see the market get a little more competitive from here until Christmas.

PK’s Sydney Property Market Update June 2011

PK — Mon, 20 Jun 2011 07:13:00 +0000

Small Window of Opportunity

The small window of opportunity for investors and upgraders at present is probably the best I have seen for 10 years.
Rents are so strong, vacancy rates so low and prices soft which all makes it the perfect environment for investing. And when it comes to upgrading properties in the higher price brackets are floundering, making it the perfect opportunity to buy that new dream home.

PK’s Sydney Property Market Update

An excerpt from our recent DIY Superannuation Seminars.

[Sydney Property Market Update] Part 1

[Sydney Property Market Update] Part 2

PK’s Hot Tip

Stock is drying up now because of winter and I really don’t think buyers are going to have the luxury of a good spring stock this year which will force prices up in the lead up till Christmas.

Socialise

PK’s Sydney Property Market Update – May 2011

PK — Fri, 13 May 2011 05:38:49 +0000

If you are interested in building and diversifying your DIY super fund by purchasing property or just want an update on the Sydney Property Market – then you cannot afford to miss this free seminar. Seats are strictly limited so RSVP today.

Build and Diversify Your DIY Super Fund Through Purchasing Property

Bradfield & Pritchard, Perpetual Private Clients, PK Property Search & Negotiators & Ray White Lower North Shore, invite you to attend an informative seminar that will provide you with essential insights into borrowing through your DIY super fund to acquire property.

By attending you will learn more about:

How to purchase a property in your self managed super fund.
How smart borrowing strategies can help increase and diversify your superannuation assets.
Structuring a compliant superannuation borrowing arrangements that is tax effective.
Future property hotspots – where to buy and where not to buy!
How to identify an excellent investment property
The new Residential Tenancy Act and the impact on landlords

Hear from the Experts…….

The Benefits and Risks of Borrowing Through Super
Presented by Kate Bowditch, Senior Financial Consultant, Perpetual Private Clients, providing successful Australians with tailored financial advice and wealth solutions for more than 124 years.

Sydney Property Market Update and Some Hot Tips on What Properties to Buy Through Your DIY Super Fund
Presented by Peter Kelaher, Managing Director, PK Property Search & Negotiators, Sydney’s leading buyer’s agents who has helped clients purchase more than $1.8 billion worth of property.

The Importance of Engaging a Professional Property Manager
CBD seminar presented by Bob Guth, Director, Bradfield & Pritchard. North Shore seminar presented by Peter Matthews, Director, Ray White Lower North Shore.

Dates:        CBD Wednesday, 1 June 2011
                    North Shore Tuesday, 7 June 2011
Time:         6.00pm for a 6.15pm start
                  7.45pm finish
                    Light refreshments will be provided
RSVP:        RSVP today as seats are strictly limited
Email:       marie@pkproperty.com.au

We look forward to seeing you.

If you would like to receive PK’s Sydney Property Market updates, hot investment tips and much more please click here Or call one of our buyers agents today on (+61) 2 9904-3444 or email us so we can help you find your next dream home or investment property for the lowest possible purchase price.