At this time of year buyers have one foot already in the pool, winding down for the Christmas and New Year holidays so it is a seriously committed buyer who attends open houses in the weeks prior to Christmas day.
Image from sellmycastle.com.au
There are also Christmas parties to attend, hangovers to recover from and Christmas shopping to be done, all leading to a drop in open house attendance in December.
This year most solicitors are trying to wrap things up for Friday 19th December so this weekend is an important auction weekend.
If you are planning on selling in early 2015 remove any Christmas decorations from the house prior to photos being taken otherwise buyers will think you have been on the market longer than you have.
January is usually a quieter month for real estate but sellers have less competition and there are still buyers around. With less properties for sale in 2014 there might be still a committed group of buyers looking for a home in January 2015.
With 2013 almost over, Christmas two days away and school holidays well under way, the Mall is busier than ever!
Starting at the south, Monro Park is bright and beautiful in colour while the former Peking Duck Chinese Restaurant has a new look and name – “Lucky Dragon”.
Sadly Chocpad has closed and the shop is now up For Lease.
Further north Yogurberry has opened, trading between 10:30am and 12am 7 days a week.
On the corner the iconic former Commonwealth Bank building is still up For Lease, will this space ever be occupied again?!
Code Orange has well and truly settled into the former Vodafone store.
The old Vinnies store on Gerrale St (which was For Lease) is now boarded up, any ideas what’s moving in here?
Renovations at Cronulla RSL have proved to be very popular attracted a very large audience over the weekend with queues lined up out the door! Opposite the RSL, Pilgrims Cronulla recently opened and are ready for business over the summer at their new location for those of you who aren’t heading down the South Coast!
On Elouera Rd, bright and colourful Old Joe’s has split Northies into two. Has anyone been here yet? Still yet to visit.
From all of us at Beach & Bay Realty, we wish you all a very Merry Christmas and a safe and Happy New Year! See you in 2014!
Tomorrow it will be exactly 10 weeks till Christmas. For prospective sellers this means getting your property on the market now! This will give you 4 weeks marketing and then the standard 6 weeks settlement period. Often around this time settlements are changed, shortened or lengthened to allow for the Christmas/New Year period when solicitors close down. Purchasers will need to exchange on a property by end of October to ensure you can enjoy the Christmas festivities in your new home, otherwise settlements are using scheduled mid to late January.
As the days get warmer and we head into summer, it is the perfect time to sell your home. In November it is expected we will get another RBA interest rate cut, and if the banks pass this on buyers will have an extra incentive to buy this spring/summer.
Beach & Bay has a number of new listings and we look forward to launching them over the next week.
Mortgage holders on flexible interest rates and anyone thinking of buying real estate have been given an early Christmas present in the form of 2 interest rate cuts by the Reserve Bank of Australia.
It has been a very tough year for property. Floods, tsunamis, earthquakes, 3 new taxes (flood, mining and carbon tax), sovereign debt crises and even a serious US debt limit crisis not yet resolved have hit confidence worldwide. In Australia, consumers have turned to savers and retailers, house builders, inbound tourism and especially manufacturing are all affected.
2012 should see an improved real estate market in NSW. There is pent up demand from population growth and supply of new housing is at record lows. In Spain and Ireland there are millions of empty new houses. We can sell any house if the price is right!
The real estate year has come to an end for me and I would just like to thank you all for reading my blogs as well as Henk’s, Natalie’s and Wendy’s. We are all relatively new at this so I hope we didn’t bore you.
Wow, I have just been to see the movie “Australia”, what a fantastic film for Australians and what an epic! I don’t know what planet the critics are on. Baz Luhrmann has done an amazing job, but the real scene stealer has to be, besides the obvious Hugh Jackman!!! The scenery of outback Australia, the Northern Territory and the Kimberley Region. It was jaw dropping, I have never seen anything like it.
It reminded me of how lucky I am to live in this country and even luckier to own real estate here!
It is an inspiring movie and every Australian should see it.
On the topic of auction clearance rates in Sydney, last week Sydneywide the Sun Herald had a clearance rate of 52% while we were way down at 37.5% locally. Lots of auctions this week in the lead up to the Christmas holiday period. In a week where the headlines are of government Christmas cash handouts and predictions of further interest rate cuts, maybe people will be encouraged to put their hand up at auction. A predicted 3% interest rate by March next year is looking more and more realistic. From 9% to 3% in 12 months, who would have thought it possible!
The Reserve Bank made us wait till 2.30pm but it was worth the wait. Beach & Bay Realty staff were betting this morning that we would get a 75 basis point cut to the official interest rate but that obviously wasn’t enough and the Reserve Bank has announced this afternoon a 100 basis point cut. This is fantastic for the real estate market and the whole economy.
Even better the CBA quickly announced they would pass on the full interest rate cut, then NAB. Westpac is only passing on 80 basis points (probably need to keep reserves for their St. George Bank takeover!)
This morning at our Beach & Bay staff meeting we were reminiscing on the year in real estate and someone reminded us that back in May this year, experts were predicting interest rates would go into double digits. Who would have thought that by the end of the year we would have an official interest rate of 4.25%!