Move Realty

Rate hikes divide housing market: Almost one in two capital city suburbs hit record high

Amidst Australia’s historic two-year rate hike cycle, the property market has become a picture of resilience and decline, showcasing stark contrasts across cities, suburbs, and regions.

A CoreLogic Australia analysis comparing the property market’s performance two years before and after the rate hike cycle reveals that home values across the nation have risen only 2.8% since April 2022, contrasting sharply with the substantial 31.7% increase observed in the preceding two years.

CoreLogic Research Director Tim Lawless said the relatively small capital gain over the past two years is a legacy of the -7.5% drop in national values during the early phase of the rate hiking cycle when the national index consistently fell between May 2022 and January 2023.

Since CoreLogic’s national Home Value Index bottomed out in Jan 2023, values have risen every month to be 11.1% higher.

”The perception might be that property values are continually increasing but we can’t forget the short and very sharp downturn that occurred in the immediate aftermath of the first rate increases,” he said.

“Since the market bottomed there’s been 15 consecutive monthly increases in values nationally, but that performance is not indicative of the entire market. Underneath the headline figure there’s significant diversity in the housing market’s performance.”

The percentage change in housing values through the rate hiking cycle to April 2024 ranges from a 25.7% surge in Perth house values, to an -11.2% drop in Hobart house values. In Sydney, house values have increased 0.4% in the past two years compared to Melbourne where houses are now -4.2% more affordable than they were in April 2022.

“Such a discrepancy in growth rates highlights the diversity of market conditions over the past two years. This reflects the complexity within local markets. While some cities have exhibited resilience driven by robust economic fundamentals and housing demand, others such as Melbourne, Hobart and Canberra, where housing is more affordable now compared to two years ago, have grappled with factors such higher supply, affordability constraints and weaker demographic trends,” Mr Lawless said

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Move Realty Unites with the Community to Support World MS Day

At Move Realty, our commitment to supporting our local community remains unwavering. On 30th May, in recognition of World MS Day, we proudly join the global MS community in collaboration with MS Australia to raise awareness and share stories about multiple sclerosis.

A shining example of community spirit and dedication is one of our local residents, Marina. For years, Marina has passionately organized remarkable garage sales to support the MS cause. This mission holds a special place in her heart, as someone close to her family has been affected by this disease.

Marina’s tireless efforts have not only raised significant funds for MS research but have also played a crucial role in promoting awareness within our community. Her dedication and hard work inspire all of us at Move Realty and highlight the incredible impact one individual can have in the fight against multiple sclerosis.

We are immensely proud to stand beside Marina and the MS community, sharing in their stories and supporting their cause. Together, we can make a difference and bring hope to those affected by MS.

Thank you, Marina, and to everyone who contributed to this important cause. Your efforts help pave the way for a brighter future for all affected by multiple sclerosis.

Executive Secretary Position Available at Leading Real Estate Office

Are you an organized and proactive individual with a passion for real estate? Do you thrive in a fast-paced environment where attention to detail and efficiency are valued? If so, we have the perfect opportunity for you!

Position: Executive Secretary to the Director
Location: Wentworthville, NSW
Company: Move Realty

About Us:
Move Realty is a premier real estate agency dedicated to providing exceptional service to our clients. With a focus on integrity, professionalism, and client satisfaction, we have established ourselves as a leader in the industry. Our team is comprised of passionate individuals who are committed to excellence in every aspect of their work.

Job Description:
As the Executive Secretary to the Director, you will play a pivotal role in supporting our Director in managing administrative tasks and ensuring the smooth operation of the office. Your responsibilities will include:

Managing the Director’s schedule, appointments, and travel arrangements
Coordinating meetings and conferences, including preparing agendas and taking minutes
Handling correspondence, emails, and phone calls on behalf of the Director
Assisting with the preparation of reports, presentations, and documents
Organizing and maintaining office files, records, and databases
Providing general administrative support to the Director and other team members as needed

Requirements:

Proven experience as an executive secretary, administrative assistant, or similar role
Excellent organizational and time management skills
Strong attention to detail and accuracy
Proficiency in Microsoft Office Suite (Word, Excel, PowerPoint, Outlook)
Exceptional communication and interpersonal abilities
Ability to handle confidential information with discretion
Knowledge of real estate industry practices and terminology (preferred but not required)

Benefits:

Competitive salary commensurate with experience
Opportunities for professional development and growth within the company
Supportive and collaborative work environment

If you are a dedicated professional looking to join a dynamic team in the real estate industry, we want to hear from you! To apply, please submit your resume and cover letter outlining your qualifications and why you would be a great fit for this position.

Join us in shaping the future of real estate and making a difference in the lives of our clients!

Email your resume to admin@moverealty.au

Investing in a Self-Managed Super Fund Property

Investing in a self-managed super fund property has become an increasingly popular strategy in Australia, offering SMSF members greater control and flexibility over their retirement savings. With the ability to invest retirement funds directly in real estate, many SMSF trustees are considering using their fund to purchase residential or commercial self managed super fund property.

But while property investment through an SMSF can be a lucrative strategy for some, there are a range of compliance requirements and regulations involved that you need to understand before deciding if this is the right investment approach for your fund.

As with any major financial decision, educating yourself on the positives and potential drawbacks is crucial.

So here’s what you need to know about how self managed super fund property investment works and what’s involved if you want to use your SMSF to purchase real estate.

What is a Self-Managed Super Fund?

Self-Managed Super Funds (SMSF) are a type of Australian superannuation fund managed by its members rather than a professional fund manager.

SMSFs give members greater control and flexibility over their retirement savings, allowing them to make their own investment decisions, including what they want to invest in and how much risk they’re willing to take on.

Beyond the versatility of this investment structure, they’re particularly popular amongst investors within higher tax brackets, as the Australian Taxation Office (ATO) only taxes SMSF income at a rate of 15%.

For this strategy to work, you must comply with extensive regulations, as these investments have a direct connection to your retirement fund.

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Do you really need a Property Manager for your investment property?

The real estate market is experiencing an unprecedented surge in demand for urban properties, as buyers seek comfortable and convenient living spaces in the heart of bustling cities. This surge comes despite initial concerns about the pandemic’s impact on the real estate sector.Experts in the industry report that the desire for larger suburban homes that was observed during the height of the pandemic has now shifted back to a preference for urban living. This shift is attributed to a combination of factors, including the relaxation of remote work arrangements and the revival of city amenities as vaccination efforts progress.

First Home Buyer Assistance Scheme

PropTrack Home Price Index – February 2023

The pace of home price falls has eased in recent months, with the housing market downturn losing momentum.

In February, national home prices rose 0.18% as limited supply and sustained buyer demand supported property values.

Key highlights from the February 2023 report:

The housing market downturn stalled in February and Australian home prices bounced 0.18% to sit 3.90% below their peak.

Prices bounced in every capital city, except Hobart (-0.29%), with Adelaide (+0.44%) the strongest performing capital city market over the past year, while Sydney (+0.36%) and Melbourne (+0.18%) recorded the largest jumps.

These dynamics have been influenced by the availability of properties for sale, with lower stock levels concentrating potential buyer interest and underpinning home prices. The converse is true in Hobart, the only capital city where total listings were up compared to the previous five-year average, giving buyers more choice and lessening competition.

Why home prices rebounded in February

Home prices in Adelaide rose in February to reach a fresh price peak, while home prices in Perth rose 0.13% to sit 0.24% below their November 2022 peak. The comparative affordability of both city’s homes has seen prices hold up better as interest rates have quickly risen. Low stock levels have also helped to insulate home values. The total number of properties listed for sale in Perth hit a record low in January, while the total number of properties listed for sale in Adelaide was down more than 30% on the prior five-year average. Low stock levels have concentrated buyer demand, which on a “per listing” basis in both capitals was sitting at a record high in January 2023.

Regional South Australia, the strongest performing market out of the 16 Greater Capital City Statistical Areas (GCCSAs) that cover the whole country, continued to record strong growth. Prices rose 0.60%, the strongest pace of growth in February, and reached a new peak. Prices were 11.85% above February 2022 levels.

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NSW COVID-19 – How Restrictions will affect the Real Estate Industry (July 2021)

Current as of 14 July 2021, and subject to change by the NSW Government

We would like to call upon everyone to support the NSW State Government to limit the spread of Delta Variant in Greater Sydney. As such our operations shall be compliant with the Covid-19 Locked down restrictions imposed by the local NSW State Government and NSW Health. The below are in effect from 6 pm June 26 2021 until 11:59 PM 39th July 2021.

We have tried to convey the current Covid restrictions affecting our work as detailed below. For more general information about the Covid-19 restrictions, visit the NSW Covid-19 website.

‘Stay at home orders’ for Greater Sydney (including Central Coast, Blue Mountains, Wollongong, and Shellharbour)

If you reside in Greater Sydney, the NSW Government has introduced strict ‘stay at home orders’. This means residents or people whose usual workplace of work is in Greater Sydney must stay at home unless it is for an essential reason. Given this;

Open Homes for sale and rental properties will not be conducted.
In per-on auctions will not be conducted.

We will be able to assist our clients during this time by offering:

Private Inspections to single persons only. To organise an appointment for a private inspection, please contact the selling agent, or the property manager for rental properties. We recommend you book an appointment online for inspections or text your full name, mobile number and email to the agent concerned.
Property Appraisals for Sale or Rent. We are able to attend your property to conduct a property appraisal. We will minimise contact points with you and your furniture as much as possible as we discuss your property. We will observe Covid Safety practices at all times.
Rental Ingoing/Outgoing Inspections and Pre-Settlement Inspections are able to be conducted during this time. We will observe Covid Safety practices and will minimise contact points at all times.

If you have any questions regarding how we can provide services to you during this time, please contact your agent at Move Realty.

The remainder of New South Wales

The below advice is for people that are not affected by the above announcement and restrictions imposed on the areas of Greater Sydney, Central Coast, Blue Mountains, Wollongong, and Shellharbour.

In an effort to limit the spread of COVID-19 across Regional New South Wales, the NSW Government has announced Covid-19 restrictions from 6 pm 26th June 2021.

People in these areas who have been in Greater Sydney on or after June 21 should follow the stay-at-home orders for a period of 21 days after they left these areas.

Under NSW Public Health Orders, real estate agents must have a Covid-19 safety plan for auctions to protect the health of workers and buyers.

Property Inspections

Home inspections for buyers and renters are permitted across Regional NSW but are subject to a density of a maximum of one person per 4 sqm, which includes children.
Attendees are required to keep 1.5m away from other buyers and renters.
Masks will be mandatory at all inspections.
Covid Safe protocol including hand sanitisers and recording keeping will be implemented by the real estate agents.
Covid safety signage will be displayed outside Open Homes.

Property Auctions

Live auctions can take place across the Regional NSW under the one person per 4 sqm rule, which includes children.
We would encourage only people that are interested in bidding to attend.
Masks are mandatory at auctions taking place indoors or where social distancing is not possible.
Covid safety signage will be displayed at auctions.

60-day freeze on evictions

Tenants who can’t pay their rent in full because they are impacted by the recent COVID-19 outbreak can’t be evicted between now and 11 September 2021.

More details coming soon

The announcement has just been made and the legislation to underpin the moratorium and application processes are currently under development. More details will be made available soon.

More COVID-19 information

Go to the NSW Government website for all detailed COVID-19 information.

Our agents are here to assist

As always our agents are easily contactable via phone, email and social media, or video conferencing. We would love to hear from you and answer any questions you may have about one of our properties, the local real estate market, your own home, or any property-related advice you may be seeking during this period.

In the meantime, we hope that you and your families stay safe and healthy.

This update is subject to change and we will do our best to keep this page updated as announcements are made that impact the NSW real estate market. To stay across the latest developments visit the NSW Covid-19 website.

This information is provided subject to our terms and conditions.

First Home Loan Deposit Scheme

First Home Loan Deposit Scheme:

The 3 things buyers need to know before applying for a 5% deposit

ELIZA OWENMAY 29, 2019

The Coalition’s First Home Loan Deposit Scheme could save first-home buyers years in accumulating a 20 per cent deposit. But it could also cost the buyer about $53,000.

Crunching the numbers on a hypothetical first-home buyer scenario shows that while the scheme is a better alternative to securing lenders mortgage insurance, it will cost tens of thousands more than a 20 per cent deposit over the life of the loan.

The First Home Loan Deposit Scheme, while ultimately adopted by Labor, differed from Labor’s broader campaign of housing affordability. Rather than lowering house prices through tax reforms, it creates a quicker, but more expensive way, for first-home buyers to enter the existing property market.

First-home buyers should look long and hard at the scheme before jumping at it, paying particular attention to additional servicing costs as well as factoring in potential capital gains and the cost of renting while saving.

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Cat Care

Catspad will feed your cat while you’re away

by Erinna Giblin

Any cat owner knows how hard it can be to get the kitty to the cattery when it’s time to go away for a holiday

No matter how luxe the space is, there’s no replacing home-sweet-home for your territorial little friend.

Enter the Catspad automatic feeding device.

Your kitty won’t have to wait until you get home for dinnertime. Picture: Catspad

Not only does it look like something out of The Jetsons, but it’ll feed your cat automatically when you’re away, meaning no more expensive and annoying trips to the cattery.

The device connects with your smartphone to give you full control of when, how much and who you feed.

Yes – you read that right – the Catspad knows which cats it’s feeding by reading your cat’s microchip or by using a smart chip that’s connected to your kitty’s collar. This way you’re able to keep track of exactly what gets eaten and keep out any unwanted dinner guests.

Your cat just got even more independent! Picture: Catspad

You can even give your furry friend the flowing drinking fountain of its dreams! This is an amazing concept for those of us who deal with cats that turn their noses up at the thought of drinking still water.

You’ll also be sent a notification if your cat’s appetite changes or if their food or water is running low.

Follow a precise diet and monitor their water intake with this futuristic device. Picture: Catspad

Retailing for €389.00 ($AU611) via the Catspad website, the device works out to be cheaper than multiple trips to the cattery – and will save you the worry of them picking up anything nasty while they’re there.