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Chadwick Real Estate is now mobile!

Thu, 16 Feb 2012 14:30:26 +1100

As part of our ongoing commitment to advancing our service to clients and keeping up to speed with smart/android technology as it moves deeper into the real estate space, we are pleased to announce that the Chadwick ‘mobile’ website is live!

All visitors now accessing the Chadwick website on their mobile device will be automatically directed to a compatible version with easy navigating and user friendly options.

From here you can search through our latest listings, open home times, look for an agent, access office contact details and more.

Of special interest to buyers is that all our current properties for sale also feature a Google map on the same page, which will hopefully be of assistance as you drive around between open homes on a weekend. It also gives you the option to view a satellite version of the map so you can see the landscape surrounding properties of interest while you are on the move.

We do hope you find this new update helpful and stay tuned for the next development...

Interest Rate Hold

Thu, 09 Feb 2012 14:45:17 +1100

The RBA’s decision not to cut interest rates this week is being labelled by some as a ‘missed opportunity’ to boost the property market.

The bank’s decision to keep the rate on hold at 4.25% did cause quite a stir especially for borrowers on variable rate loans.

With Residex data suggesting that last year’s dual rate cuts are starting to have an impact on the property market it remains to be seen if this may now stall with the rate hold.

Noting that the RBA cited improved conditions and sentiment in global financial markets and some progress around the European debt crisis as reasons to keep the rate on hold, ING DIRECT treasurer Michael Witts said that confidence in the Australian economy is largely led by offshore developments.

“If Europe continues not to deteriorate, and the US continues on its likely growth path, confidence in the domestic economy will continue to improve,” he said, adding that global growth will be driven by the US and Asia, rather than the European-Asian mix that’s dominated in recent years.

“Regardless of source, the bottom line for Australia is that global growth will continue, albeit, marginally weaker than previously expected. This will continue to underpin the high level of investment in resources and related sectors,” he said.

Given the more cautious approach taken by the RBA there is still plenty of room to move and with that comes the opportunity for timely stimulus to sections of the economy.

House prices readying for growth

Thu, 02 Feb 2012 14:50:19 +1100

We keep a close eye on media reports regarding speculation across the property markets and today’s Sydney Morning Herald article sparked our attention with indications that the property market may have already ‘bottomed out’ – heralding fresh positivity for the months ahead.

The report covers housing data released by RP Data-Rismark this week showing that the rate of decline in house prices across the nation slowed towards the end of last year.

"The December quarter was the year's smallest quarterly decline," RP Data research director Tim Lawless said.

Capital city house values fell nationally, in seasonally adjusted terms, in the last three months of 2011 by 0.5 per cent, RP Data-Rismark's figures show. That followed a larger decline in the previous June and September quarters of 0.8 per cent and a substantial national drop of 1.5 per cent in the March quarter for 2011.

Australian Property Monitors have also released figures showing national house prices stayed largely the same for the December quarter, supporting the suggestion that the rate of decline in house prices is tailing off.

Sydney's house prices, the country's most resilient because of a shortage of housing, rose in the December quarter by 0.7 on seasonally adjusted terms, RP Data-Rismark's figures show.

"One of the things we're expecting to see following the interest rates cuts last November is more activity," Rismark managing director Ben Skilbeck said.
"We expect transaction volumes to pick up in February and March," he said. "We would expect the negative growth to abate."

Equity Divide

Fri, 27 Jan 2012 13:05:00 +1100

RP Data's latest Equity Report has found that 43 per cent of all Australian homes are now worth more than twice the original purchase price – however not all Australian property owners have fared so well.

According to the report, capital city home values have increased by approximately 28 per cent in the last five years, despite the recent property price reductions, including a 3.3 per cent dip in home values over the last 12 months.

The report has revealed that the number of properties that are now worth less than their purchase price has risen to 5 per cent – up from 3.7 per cent at the end of the last quarter.

The divide between property that has increased in value and those that have dipped highlights the current patchwork property landscape. Geographical pockets worst affected by negative equity have been identified in Queensland and Western Australia.

Capital cities have shown the most resilience against equity falls over the long term, with RP Data saying they have proven less susceptible to ongoing value falls than certain non-capital city markets.

Property owners who have made their purchases 10 years ago or even earlier are still sitting on very strong profits.

RP Data's Tim Lawless said the Equity Report gives an estimate of equity accumulated across Australia's housing market.

"This is done by measuring the difference between the original purchase price of a home and the current valuation for individual properties around the country," Mr Lawless said.

Rental Returns Moving Upward

Thu, 19 Jan 2012 14:18:06 +1100

A lift in rental yields has been at the forefront of real estate media coverage this week, with a recorded rise in the quarterly rental yields for the fist time in nine months.

National median weekly rent for houses rose 1.1 per cent in the final quarter of last year, while rents for apartments and units rose 1.4 per cent, according to Australian Property Monitors.

''Increasing competition for properties, particularly from homebuyers unable or unwilling to enter the property market, has resulted in rising rental prices over the December quarter for both houses and units,'' an APM senior economist Andrew Wilson said.

The quarterly rise in rents - typically a sign of a robust property market - masks unevenness across the major capital cities, with house rents in Sydney increasing 4.2 per cent over 2011, while falling in Melbourne by 1.4 per cent. For the year, unit rents rose 4.5 per cent in Sydney and 2.9 per cent in Melbourne.

Experts are tipping that Sydney rents may soften slightly this year after a surge of first home buying activity in the fourth quarter of 2011. First home buyers rushed to take advantage of the NSW stamp duty concession for first home buyers which expired at the end of December.

''The fundamentals of the property market are starting to reassert themselves,'' Mr Wilson said.