Century 21 Port Douglas Blog
Negative Equity in Far North Queensland
Posted in Australia, Australian Home Buyers, Australian Homes, Banks, Cairns Regional Council, Negative Equity, Port Douglas, Property Port Douglas, Property Values, Propety Prices, Queensland, Real Estate, Rp Data
Tagged Australia, Century 21 Port Douglas, Far North Queensland, For Sale, Port Douglas, Real Estate, Selling Your House
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Rate Hold Accompanies Stabilising Housing Market
Century 21, the largest real estate sales organisation in the Asia Pacific region, believes that yesterday’s decision by the Reserve Bank of Australia to leave the official cash rate on hold will help to create ongoing stability for those Australians considering the purchase of a property.
“At its April meeting the Reserve Bank of Australia elected to keep the official cash rate at 4.25 per cent for the third consecutive month,” said Owner and Chairman of Century 21 Australia, Charles Tarbey.
“This move suggests the Reserve Bank of Australia feels relatively comfortable with current economic conditions for the time being and, at a time of comparatively low interest rates, will encourage many Australians to act on a property purchase.”
The Reserve Bank’s decision follows the recent release of the RP Data-Rismark Hedonic Home Value Index which suggested that the Australian housing market may be showing signs of stabilising, with home values increasing 0.2 per cent in March 2012.
In addition, the Index saw that the market has remained unchanged for the quarter ending 31 March 2012 – the strongest result since March 2011 (which saw a 0.7 per cent rise in values).
“While we must note that much of the improvement seen in the housing market is due in part to the Sydney market which rose 1.1 per cent over the quarter, we are nonetheless seeing signs of a potential stabilisation of home values,” continued Charles Tarbey.
“Other factors such as strengthening auction clearance rates and improving demand from first home buyers are certainly encouraging indicators of both the current state of the national housing market and the potential for continued improvements over the course of 2012,” concluded Charles Tarbey.
Posted in Australia, Australian Home Buyers, Australian Homes, Banks, Century 21, Century 21 Port Douglas, Far North Queensland, First Home Buyers, Housing Affordability, Housing Data, Interest Rates Australia, Property Port Douglas, Queensland, RBA, Real Estate
Tagged Australia, Century 21 Port Douglas, Century 21 Real Estate, Interest Rates, Port Douglas, RBA, Real Estate
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10 ways to pick a hot spot
The biggest skill an investor can have is to know how to predict the market. Obviously no one has a crystal ball and no one can predict with 100% certainty what’s going to happen, but there are ways to form an educated opinion. And let’s face it, choosing an investment based on an educated opinion is better than taking a stab in the dark, which is what many investors do.
So how can you predict the property market? The best way to make money in real estate is by investing in the hot spots. That is, essentially, choosing an area where the value of the investment is going to rise significantly in the foreseeable future.
Terry Ryder, director of ‘hotspotting’ – a property research advisory website, has identified 10 categories that influence the values of any particular location. In order for an area to be classified as a ‘hot spot’, they have to have at least three of these 10 factors.
Sea change
We Australians have always had a fascination with the sea, which kind of makes sense considering we’re surrounded by the stuff. However, this trend has never been more apparent than in recent years – it seems the masses are moving from inland areas to secure their own piece of waterfront property. In fact eight out of 10 Australians currently live within 50km of the shoreline, according to a report by Ryder.
The stayers
There are certain places that always perform well and grow steadily over time. They are typically inner-city suburbs with trendy cafes, restaurants and shopping centres with nearby amenities like schools, hospitals and transport.
The ripple effect
When there’s a boom, it starts with the prime suburbs. When the prime suburbs become too expensive for people to afford, they go to neighbouring areas that are more affordable, and when they get too expensive people move into the next neighbouring suburb and so on. This is the ripple effect.
Transport Infrastructure
Accessibility is one of the most important features a suburb can have. The quicker and easier it is to get from a suburb to the CBD and surrounding regions, the more value that suburb will have. So things like trains, buses, bridges and particularly motorways can add big value to a suburb.
Blue sky
These are the prime locations of any city, located either on the outskirts of the CBD or on the beaches. They have upmarket retail outlets, high-class restaurants and a generally affluent culture. Usually there’s an exclusive school nearby as well. The thing about these areas is that even when the market is on the slide, these areas will be the least affected, if they’re affected at all.
Lifestyle features
Again it’s no surprise that the most valuable lifestyle factor in real estate is water. This means beaches and to a lesser extent lakes, rivers and canals. “The nearest thing to a recession-proof investment is property fronting water,” Ryder says. Nearby golf courses are also bonus lifestyle features.
Source: Your Investment Property Magazine, www.yip.com.au
Posted in 10 Ways to pick a property Hot Spot, Australia, Australian Home Buyers, Australian Homes, Century 21, Century 21 Port Douglas, Far North Queensland, Home Building, Home Loans, Home Ownership, Hot Spots, Housing Affordability, Housing Data, New Homes, Port Douglas, Property, Property Investor, Property Port Douglas, Property Tips, Propety Prices, Queensland, Rental Property
Tagged Australia, Century 21 Port Douglas, Century 21 Real Estate, Far North Queensland, Great Barrier Reef, Port Douglas, Port Douglas 2012 Carnivale, Property Buyers, Property Hot Spots, Queensland, Real Estate, Tourism, Travel
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Renovating For Profit – Tips From The Experts
It’s the Holy Grail for many property investors – buying a property, renovating it, and then selling it for a profit.
Chris Gray, host of ‘Sky News Business’ and ‘Your Property Empire’ recently shared his thoughts on what property investors need to know in order to complete a successful renovation on time and on budget.
1. Choose properties that need mainly cosmetic work
Chris advises that investors avoid properties with structural damage, as this is often when expensive problems occur. According to Chris, if you already own the property you definitely need to leave that part to the experts.
2. Find a valuer
Chris notes that one of the biggest misconceptions investors have is that the more they spend renovating a property, the more profit they will make. A valuer can tell you if your $30,000 kitchen renovation will actually add $30,000 to your home’s value.
3. Be realistic when doing it yourself
According to Chris, His tip is to double your expected cost and timeframe and then work out if you’re still going to make a profit.
4. Use a project manager
Chris advises that there are too many risks involved in managing a project alone. Handling the renovation yourself could save money initially, but hiccups along the way might turn your $40,000 renovation into a $60,000 – $80,000 job in the long run.
According to Chris, “even if the property market hasn’t moved in your local area, renovations can create artificial growth in your property’s value.”
Posted in Australian Home Buyers, Australian Homes, Buyer's need to pay attention To Details, Century 21, Century 21 Port Douglas, Far North Queensland, Home Building, Home Loans, Home Ownership, Housing Affordability, Housing Data, Investors, Port Douglas, Preparing Your Home For Sale, Presenting Your House For Sale, Property, Property Investor, Property Port Douglas, Property Tips, Queensland, Real Estate, Renovating For Profit, Renovations, Tips For Vendors, What is Your Property Worth
Tagged Australia, Century 21 Port Douglas, Century 21 Real Estate, Far North Queensland, Port Douglas, Queensland, Real Estate, Renovating For Profit, Selling Your House, Tips For Vendors
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Monday Morning – Captain Cook Hwy Update
Monday 26th of March 2012
Early reports according to ABC Far North Queensland radio, are saying the Captain Cook Highway is once again closed from Port Douglas to Cairns. Apparently more boulders/rocks have fallen onto the highway at Buchan’s Point.
What’s another week with limited access to Cairns International Airport for tourists? At the moment what is normally an hours drive to Cairns will take you at least two hours if you decide to go the inland route through Mt Molloy and Mareeba.
However if the current torrential downpour continues the water over the inland road may also soon be closed.
Stay tuned to Port Douglas Radio 107.1 FM for updates.
We would like to advise the following from the Department of Transport and Main Roads:
- The Captain Cook Highway has CLOSED at Buchan’s Point again due to further landslides.
- Call 131940 for further traffic updates.
- Mt. Molloy Highway is open to traffic, however they advise to continue to drive with caution
Inquiry into the affordability of residential strata title insurance
Posted in Australia, Body Corporate Insurance, Century 21, Century 21 Port Douglas, Far North Queensland, Federal Government Inquiry, Port Douglas, Property, Property Port Douglas, Property Values, Propety Prices, Queensland, Stamp Duty, Strata Insurance, Strata Title Insurance
Tagged Australia, Body Corporate Insurance, Cairns Regional Council, Century 21 Port Douglas, Century 21 Real Estate, Far North Queensland, Port Douglas, Queensland, Real Estate
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Report on High Cost of Body Corporate Insurance
Recommendations For High Body Corporate Insurance
Port Douglas unit owners who are outraged about their high body corporate fees,were given the opportunity to make a submission to the FederalGovernment Inquiry.The Government has tabled the report on residential strata title insuranceand it is findings can be read by clicking on the links below.If you are an owner of a unit in Port Douglas or Far North Queensland it is highlyrecommended you make yourself aware of the findings.
STANDING COMMITTEE ON SOCIAL POLICY AND LEGAL AFFAIRS PO Box 6021, Parliament House, Canberra ACT 2600 | Phone: (02) 6277 2358 | Fax: (02) 6277 4427 | Email: spla.reps@aph.gov.au | www.aph.gov.au/spla |
22 March 2012
Inquiry into the affordability of residential strata title insurance
The House of Representatives Committee on Social Policy and Legal Affairs tabled its report: In the Wake of Disasters Volume Two: The affordability of residential strata title insurance on 21 March 2012.
The report is available on our website in its entirety or in individual chapters at http://aph.gov.au/Parliamentary_Business/Committees/House_of_Representatives_Committees?url=spla/strata/report.htm. A 2-page summary of the report’s findings and recommendations is also available on that page. If you have any difficulties accessing either the report or the report summary, please do not hesitate to contact the Secretariat on (02) 6277 2358 or spla.reps@aph.gov.au.
The Committee thanks you for your contribution to this inquiry.
Yours sincerely,
Dr Anna Dacre
Posted in Australia, Australian Home Buyers, Australian Homes, Body Corporate Insurance, Cairns Regional Council, Century 21, Century 21 Port Douglas, Far North Queensland, Federal Government Inquiry, Home Ownership, Housing Affordability, Port Douglas, Property, Property Investor, Property Port Douglas, Property Tips, Property Values, Propety Prices, Queensland, Real Estate, Rental Property, Strata Title Insurance, Unit Owners
Tagged Australia, Body Corporate Insurance, Cairns Regional Council, Century 21 Port Douglas, Century 21 Real Estate, Federal Government Inquiry, Port Douglas, Queensland, Real Estate, Strata Title Insurance
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Port Douglas Auction Action – Easter Saturday 7th April 2012
Posted in Australia, Australian Home Buyers, Australian Homes, Easter Saturday, Investors, Land Value, Open For Inspection - Century 21 Port Douglas, Port Douglas, Port Douglas Auctions, Property, Property Investor, Property Port Douglas, Property Values, Propety Prices, Queensland, Real Estate, Uncategorized
Tagged Auction, Australia, Buy Your Piece of Paradise, Century 21 Port Douglas, Century 21 Real Estate, Far North Queensland, For Sale, Port Douglas, Queensland, Real Estate, Turn Your Home Into a Rental Property
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