Market Kicking Along at a Steady Rate
I thought I would cover both March and April in one hit as the month of April is usually that little bit quieter because of school holidays and Easter.
In saying that, enquiry from clients to purchase property has been very strong over March and PK Property has purchased, or in the process of purchasing well over $38 million dollars worth of property for our clients. From stately homes in Killara, Turramurra, Mosman, Chatswood, Watsons Bay and Bellevue Hill to investment units all over Sydney to large commercial buildings on the Central Coast - it's been busy.
Interest rates have been steady for 4 months now and we are finding that people are really making the move to upgrade because they feel as though it is more of a steady environment to do so.
With an unpredictable stock market and a rental market that still has a vacancy rate of 2% and looks like getting lower, we are also seeing investors jumping back into the property market as they see it to be a very safe place to put their money.
PK's Sydney "Purchasing Property Through Your Superannuation" Seminars
Perpetual in conjunction with Bradfield & Pritchard, Ray White Lower North Shore & PK Property Search & Negotiators .
Perpetual, a well known Australian company that has provided financial advice to Australians for over 124 years will be teaming up with PK Property to show you the best way to purchase property through your Self Managed Super Fund (SMSF).
I have been involved in this space for many years now and have seen many many investors that have received the wrong advice in regards to not structuring a compliant superannuation fund when purchasing their investment property.
As far as I am concerned Perpetual is the only company that has this compliant structure right from start to finish.
Your accountant or financial advisor might very well tell you it's all too hard and cumbersome to buy property in your SMSF, or charge you an arm and a leg to set it up and look after the ongoing audit. Trust me, it really is not that hard and can be extremely beneficial if executed correctly.
I must admit buying property in your SMSF is not for everyone, but if you have over $100,000 in your super fund you can't afford to not be at this seminar, as the advantages and simplicity to buying property in your SMSF are too large to ignore.
I will be talking on 'Property Hotspots', where to buy, where not to buy and the general outlook of the Sydney property market for 2011.
Also speakers from 2 real estate agencies will be updating you on the new Residential Tenancy Act that arrived on our doorstep this year, and the impact it will have on landlords and potential landlords.
The first seminar will be held on Wednesday 1 June 2011 in the Perpetual boardroom; Level 12, Angel Place Building 123 Pitt Street Sydney with a 6pm start. Light refreshments will be provided.
The second seminar will be held on Tuesday 7 June 2011 at Ray White Lower North Shore offices; Level 1, 3 Young Street Neutral Bay with a 6pm start. Light refreshments will be provided.
RSVP today as seats are strictly limited to marie@pkproperty.com.au
PK's Hot Tip
I am really excited about the small window of opportunity to upgrade at the moment . For example if you have a property under $1million the auction clearance rates for properties in that price range when you separate them from all properties sold is approximately 75%. If you have a look at separate properties sold between $1.5million and $3million clearance rates are around 40%.
So if you do the maths and sell at roughly $900,000 and take a 5% reduction on the sale of your property which is $45,000 (and the reason I say 5% is because there is still a lot more competition in that price range which is holding up that end of the market) then if you purchase something for roughly $1.8million, I believe the reduction in prices are around 10% in that price range which equates to a massive $180,000. And if it's your principal place of residence that's a huge capital gain tax free investment.
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.