Monday, March 26, 2012

LNP - What it means to Strata Real Estate

Subject: FW: LNP - What it means to Strata Real Estate

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How will the new LNP Government affect Real Estate?

Unless you have been hiding under a rock you will be aware of the resounding victory the Liberal National Party (LNP) had on the weekend and are forming a new government to manage the state. Here is an overview of some of the promised policies that should be implemented:

 

The promised Real Estate Industry changes are policies designed to reduce 'real estate red tape and regulation'. Here are some of the key elements:

 

  1. Streamlining home sale contracts and warning statements, by incorporating the existing statement into a standard contract. Up until now they were required to be separate documents which some say created inconvenience, confusion and extra expense.
     
  2. Scrapping the sustainability declaration. The document was filled in by owners not experts and there was an option to opt out of answers if you were unsure of the answer. As a result the declaration was usually meaningless.
     
  3. Re-Introducing the principal place of residence stamp duty concession. A saving for all who aspire to achieve the great Australian dream of home ownership.

 

By reducing the red tape within real estate the LNP hope to encourage developments and investors in the Queensland region. This will hopefully be good for Queensland and good for strata.

 

The strata industry in Queensland awaits the release of the full cabinet so ministers can be approached to address industry concerns strata and influence policy and legislation.

 

 If you would like any further information please do not hesitate to contact our office on 1300 136 036 or email enquiry@solutionsinengineering.com

 

Kind Regards,

James Freestun

Solutions in Engineeering

ph: 1300 136 036

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Industry news - Stockland downgrades earnings as wet weather delays Illawarra residential projects

Industry news - Stockland downgrades earnings as wet weather delays Illawarra residential projects

Thursday, March 22, 2012

RP Data Research as at today

RP Data Research Blog - Where can you buy a home under $300,000?


Where can you buy a home under $300,000?

Posted: 22 Mar 2012 06:09 PM PDT

RP Data’s Property Pulse report released this week provides a comprehensive segmentation of median house prices by suburb across the capital cities.  The research results showed that just 7.1% of capital city suburbs have a median house price less than $300,000.  The lowest proportion was Canberra where there wasn’t a single suburb with a median house price under $300,000.  Melbourne recorded just 2.6% of all suburbs with a median under $300k, Perth recorded 3.8% of all suburbs, Sydney 4.2%, Darwin 5.4%, Brisbane 13.1%, Adelaide 11.0% and Hobart had the highest proportion of suburbs at 41.0% with a median price under $300k.

To provide a more granular analysis, I thought it would be interesting to look at where the most sales (houses and units) were occurring under the $300,000 mark.  Interestingly, when you break the analysis down to a finer level like this, based on actual sales rather than median prices, across the country the results are a little bit different (but still highlight the low proportion of very affordable properties in some locations).

The table below shows the proportion of properties that have sold since January 2011 to now where the sale price was under $300k:

No surprises that the regional markets offer much more affordable price points, as do the smaller capital cities of Hobart and Adelaide.  Importantly, around 10% to 15% of all dwelling sales across the larger capital cities have transacted at price points under $300,000, highlighting the fact that affordable housing stock does exist… you just need to know where to look.  It also helps if you don’t mind a long commute into the CBD and/or owning an apartment rather than a house.

The tables below show the top 20 suburbs across both the capital cities and the regional markets of each state and territory based on the number of dwelling sales recorded at a price under $300,000 since January 2011.

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Monday, March 19, 2012

[Linda] newsarticle 20th March 2012

Subject: [Linda] newsarticle 20th March 2012

David King wrote:

As a retired veteran of the property industry with more than 40 years direct experience, I have to say that anyone who chooses to be a disciple of critics like Neil Jenman risks debate on at least two big issues (Ending the entrenched real estate racket, March 20).

The first is that Jenman has set up a straw man in order to knock him down for his own self-interest. He hates agents who auction properties. He hates agents who charge for advertising over and above their fee. Both of these practices are industry wide standards, both are eminently defensible, and neither causes much concern among the individuals involved.

Every industry includes creeps with bad ethics, and real estate agents are not excepted. But to imply that their activities have any influence over the price movements of the market at large is a furphy. It imbues the real estate agent with far more power than he actually possesses. Every individual who wishes to deal with an agent can make enquiries to ascertain an agency's reputation. Those who do not must proceed with caution.

20 Mar 2012 9:30 AM

Anthony Wood wrote:

David King (March 20, 9.30am) wrote "every industry includes creeps with bad ethics" (Ending the entrenched real estate racket, March 20).

This suggests that the ethics and honesty of the real estate profession is about par with other industries.

If this is the case why does the Roy Morgan poll continually for 30 years have the real estate industry in the bottom three for honesty and ethics. The latest survey has only 7 per cent of people surveyed consider the industry to be honest and ethical.

That is less than one person in ten views the real estate profession as honest and ethical.

20 Mar 2012 10:26 AM

Mansfield Unit For Lease!

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Linda

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Mansfield Unit For Lease!

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