How's The Market April 2010

March saw 39 reported sales across the Menai District leaving 81 for sale. Several sales set new records for either, their development, street or subdivision and the number of buyers at open houses just keeps on growing. The market frenzy was all over the popular press and TV this week as the media starts catching up with stories from the suburbs. The recurring theme is there simply are not enough homes being built for the growing Australian population which is expanding at 2.1%, nearly twice the world average of 1.1% and there aren’t enough investors interested in buying or building residential real estate because of harder to obtain finance and expensive entry and ongoing costs such as stamp duty, land tax and capital gains tax. The buyers we find that are securing properties in this competitive market are the ones that have done their home work, have a good relationship with their solicitor or conveyancer and an even better one with their mortgage broker. It’s vital to have your finance pre approved and quick access to 5 to 10% deposit.

With summer time over us early birds will get to see the sun in the morning again as we turn our clocks back this weekend. While you are going around the house changing the times test your smoke alarms and even better replace the back up battery with a new one or better still arrange for them to be hardwired as well.

Have an enjoyable and safe Easter, Lené and I both are looking forward to the next few months as we have a great selection of homes available as well as a number of special properties coming up. If you haven’t had an appraisal on your property let us know and we can pop by or send you some of the most recent sales, you will be pleasantly surprised at what sale prices are being achieved.