February Market Wrap

Welcome to you all,

In our previous blog I mentioned that we were about to launch some very exciting new visual media option for our vendors. The first of these is a system called Matterport, developed in the USA.  This virtual tour software is at the forefront of property marketing and allows purchasers to ‘walk through’ the homes before they even attend an inspection by clicking into the home using the blue circles.  We have included a link to one of these tours below, recently completed on one of our client’s properties, for you to see the possibilities of this software.

https://my.matterport.com/show/?m=wgMvwbWuL8m

Market Wrap

We had a very positive month with 11 sales achieved in February. While the level of enquiry has quietened somewhat over the last couple of weeks, the enquiries received have translated into offers in many cases.

Property Management

With Summer drawing to a close the heat is still not showing any signs of reducing for the next few weeks. We have been receiving feedback from prospective tenants that they are not wishing to lease properties that do not have any air-conditioning and the homes without are, on average, taking a longer time to lease and achieving a lower return.  The installation of RCAC is certainly something to consider as an improvement in your investment properties and important to take into consideration if you are purchasing an investment property.

Finance 

The RBA for the ninth consecutive time has left the cash rate at 2%, last week. Even though the cash rate has remained stabled, the home loan market remains dynamic. Some banks for example are offering refinance incentives of $1,500 and 3 year fixed rates are as low as 3.99% for owner occupier and investment lending up to 90% loan to value ratio. This may provide a great opportunity to enter the property market or to ensure you are getting the best deal available in the market. To discuss this in further detail please do not hesitate to contact me.

Provided by,

 

 

Kind regards,

Michael Gray JP

Principal