Development

Largest sales activity fall in Queensland recorded across Gold Coast CoreLogic

Gold Coast sales activity has fallen 17% over the year to February 2019, according to the latest CoreLogic Regional Report.

The report suggests it was the largest fall recorded across all five regions in Queensland.

Of the 15,475 dwellings that transacted, 43% were houses, while 57% were units.

Largest sales activity fall in Queensland recorded across Gold Coast CoreLogic 1

Gold Coast home values are down slightly when compared to March 2018, with house values falling -2.8%, while unit values are down -0.4% over the year.

Largest sales activity fall in Queensland recorded across Gold Coast CoreLogic 2

The advertised rental rates across the region increased by $20/week for houses and $10/week for units over the year, an increase of 3.7% and 2.4% respectively.

The average home is taking an additional 14 days to sell for houses and 13 days for units when compared to February 2018, while the average vendor discount has increased to -6.4% for houses, and -6.3% for units over the same period.

The CoreLogic Regional Report reveals challenging property market performance across Australia’s regions, with falling sales activity in the 12 months to February 2019.

Largest sales activity fall in Queensland recorded across Gold Coast CoreLogic 3

 

Source: www.propertyobserver.com.au

Lenders adjusting mortgage rates

As speculation builds that a cut to Australia’s cash rate could be arriving in the near future, several of Australia’s lenders have been adjusting their home loan interest rates over the past week.

Beyond Bank has slashed fixed rates across a range of mortgage products, including its Total Home Loan Packages and Pinnacle Plus Packages.

Fixed rates were slashed as low as 3.79% p.a. (comparison rate 4.88% p.a.) for Beyond Bank’s Total Home Loan Package 3-year special, though the most substantial cuts were for its Total Home Loan Package investment loans, which fell 20 basis points to as low as 4.19% p.a. for selected loans (comparison rates: 5.34% p.a. for 1-year fixed, 5.26% for 2-year fixed, and a 5.19% p.a. for 3-year fixed).

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Which direction for property prices now that we have a coalition win

After an amazing weekend, many people are asking “What is the future of the Property Market”?

The results are in and to the surprise of many, Scott Morrison has led the Coalition to win this year’s Federal election.

And this means our housing markets are likely to pick up by the end of the year.

The stability of government and the fact that there are no changes to negative gearingor Capital Gains Tax will encourage investors.

The market hates uncertainty, and the Coalition win should return confidence to our subdued property.

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top tenants

Being a landlord isn’t always easy. Dealing with tenants who are bad payers or appear to be on a mission to turn your rental property into a rubbish tip can be time consuming and stressful.

Renters currently have the upper hand in many Australian cities. Inner-city Brisbane, for example, has experienced a high volume of apartment construction in recent years and landlords have had to reduce rents and offer incentives to lock in leases.

With renters able to pick and choose, landlords need to try harder to ensure they attract –and keep – top quality tenants.

Here are some tips for achieving this:

Best face forward

The way you present and market your property will influence the type of interest you receive. If a rental property appears dirty and unkempt, prospective tenants may assume you’ll be equally lackadaisical once they’re in residence. This may be appealing to those who share your ‘relaxed’ approach to home and garden care, but it’s likely to be a turn-off for renters who keep things in proper order. The better the home looks and feels, the higher the calibre of applicants you’ll attract (and the higher the rent you can potentially command).

Extra enticements

Faced with the choice between your dwelling and another that’s broadly equivalent, tenants are likely to go for the property that offers extras that add to their comfort. Installing air conditioners in the living room and main bedroom may tip the balance in your favour, or deter good sitting tenants from considering their options during the summer sizzle. Similarly, a dishwasher in the kitchen and freestanding wardrobes in bedrooms that lack built-ins are modest investments that can make a big difference.

Gardening made easy

Not everyone has a green thumb. Ensuring garden maintenance is as easy as possible can make your house or townhouse appealing to renters who may be good payers, but don’t have the time or inclination to mow and prune. Consider providing a green bin, include a monthly or quarterly yard clean-up in the rent and plant shrubs and trees that require minimal TLC.

Lock it up

If you want tenants to take good care of your property, it pays to demonstrate that you’re committed to looking after their personal property too. Installing security that’s appropriate to the home and the neighbourhood can provide peace of mind and make it cheaper and easier for tenants to obtain contents insurance.

Attend to maintenance

Having to ask repeatedly for something to be fixed is irritating, particularly if the request is reasonable. Attending to repairs as soon as possible tells good tenants you respect them and value the relationship. Conversely, making them wait weeks for maintenance requests to be actioned may result in them looking elsewhere for a landlord who can keep up their end of the bargain.

Reasonable rent rises

The market will determine the rent you can charge. If what you’re asking isn’t on par with equivalent dwellings in the same area, renters will assess their options. Should a lease be due to expire and you’re happy with the tenant, it’s wise to be realistic about rent rises – or open to the possibility of a reduction if the market has dropped. Keeping a good tenant is usually easier than finding a replacement

Related article: How to attract and keep top tenants in your rental property

A $30 billion pipeline of private and public development will be rolled out on the Gold Coast over the next decade, putting paid to criticisms it would suffer a post-Commonwealth Games slowdown.

Nearly $20 billion in housing and apartment projects will meet the city’s ongoing growth, while a further $10 billion in public and private infrastructure is either underway or planned for the city post Commonwealth Games. Read more

Gold Coast’s top family suburbs: how does your neighbourhood rate?

Amy Devon and Andrew Gray with their son Beau Gray at their new Maudsland house. Picture: Glenn Hampson

FAMILIES are flocking to the northern Gold Coast in droves with three suburbs making the region’s top five suburbs for families, new data reveals. Read more

Thriving Coomera community announces new school

PARENTS living in Coomera Community will soon have a new Catholic school to choose from that has a connection with Australia’s first saint.

The new Catholic Prep-to-Year 12 school will be named St Joseph’s College and is expected to open on a 10ha site on Kerkin Road South in 2019.

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coomera-city-centre-bloor-homes-property-management-coomera

Our regions newest shopping centre the Coomera City Centre will open next week.

Located on the corner of Old Coach Road and Commercial St, Upper Coomera, within the established retail, commercial and residential locality of Upper Coomera, approximately 22 km north-west of Southport CBD and approximately 53 km south-east of the Brisbane CBD. Read more

the-link-coomera-property-investment-hotspot
bloor-homes-property-manangement-property-management-bloor-homes-bloor-homes-property-management

MORE than $1 billion of development in Coomera is back in the pipeline as the northern Gold Coast’s largest shopping centre takes shape.

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