2013: A Different Market – Get On With Online

2013: A Different Market – Get On With Online

.Forecasting and making predictions pertaining to our residential property markets have been challenging since 2007 – however it appears that in 2013 that task won’t be as difficult (hopefully). The Reserve Bank of Australia (RBA) gave a clear indication that their manoeuvring of the cash rate in 2013 will be closely reflective of Australia’s property data. Housing prices have moved higher: RBA governor’s statement which confirms my prediction last week that I believe the official cash rate will not go below 3.00 percent in 2013.

Next rate cut up to banks which is exactly what the RBA would be hoping so it did not take long before Westpac lead the big banks below 5% on fixed home loans. So it’s over to the others now – the NAB’s lowest fixed – rate is 5.34% for its one – year home loan, the Commonwealth Bank offers a one – year fixed of 5.19%, while the ANZ offers a two – year fixed rate at 5.49% – so watch with interest should they decide to sharpen their respective pencils next week. If you’re planning on selling you should not sign – up given when you are fixed you then qualify for break fees should you sell during your fixed term.

So the good news for property owners is that the house price recovery under way which overall is a pleasant change given for once, the statistics agree that property prices are rising. Having said that we are of the opinion that we will see a gradual albeit minimal capital appreciation throughout 2013. Further evidence AFG reports record January figures with $2.2 billion mortgages approved which represents their highest cumulative value ever recorded for the group. Australia’s population has a firm foot on the accelerator although our construction continues to shrink which just so happens to be the 32nd month of contractions within our building industry.

PalmBeach

BUY PRINT

For those watching the Australian All Ordinaries closely, it currently sits at just below the 5,000 mark – historically when the All Ordinaries is north of 5,000 our property markets are booming. Although I foresee that what we are seeing presently is a false economy given investors have moved from protecting their cash reserves to re – investing back into the shock market. All Ords at 17,000? Just rally round this forecast well that is a prediction for 2030 – so don’t panic.

7-02-2013 3-47-34 PM

As we reported last week the Mosman, Cremorne and Neutral Bay volume of listings is down considerably on previous years. Interestingly this statistic is not only restricted to our demographic markets Sydney property listings fall by ‘surprising’ 6% in January to lowest level since 2010: SQM. It is interesting to note that Mosman house listings continue to hover at the moment at approximately 25% down on this time last year. It will be fascinating to watch how these figures alternate through 2013.

Source: Domain Property Monitors

MOSMAN – 2088

• Number of houses on the market this time 2012– 109
• Number of houses on the market last week – 75
Number of houses on the market this week – 84
• Number of apartments on the market this time 2012 –111
• Number of apartments on the market last week – 79
Number of apartments on the market this week – 77

CREMORNE – 2090

• Number of houses on the market this time 2012– 17
• Number of houses on the market last week – 7
Number of houses on the market this week – 10
• Number of apartments on the market this time 2012– 17
• Number of apartments on the market last week – 19
Number of apartments on the market this week – 16

NEUTRAL BAY – 2089

• Number of houses on the market this time 2012 – 15
• Number of houses on the market last week – 12
Number of houses on the market this week – 13
• Number of apartments on the market this time 2012 – 67
• Number of apartments on the market last week – 31
Number of apartments on the market this week – 32

For this week’s sales in Cremorne real estate, Cremorne Point real estate, Mosman real estate, Beauty Point real estate, Clifton Gardens real estate, Balmoral real estate, Neutral Bay real estate, Cammeray real estate.
• Click Here

For this week’s open for inspections.
• Click Here

It is also quite probable that Australia in an election year could have three prime ministers (this has never happened before) although we are seeing desperate measures in desperate times: Labor, Gillard losing ground: Newspoll. The government has to raise the required monies for the Gonski education reforms and the disability insurance. You guess is as good as mine as to where they will find the required revenues – made all the more harder in an election year.

7-02-2013 11-07-51 AM

 

Chinese buyers surge in Mosman prestige sales with Richardson & Wrench Mosman & Neutral Bay (RWM) being involved with all these top – end sales so our multi – translation website move was a natural progression. We serve our vendors and purchasers so our observations based on these recent sales is that the Chinese market in Mosman has progressed from developing to now dominant which explains why we have made our website Chinese user friendly. To translate this page into Chinese just click on the Chinese flag at the top right of the page then click on the Australian flag to translate back to English.

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Capture evolving markets don’t lose them – online property markets will dominate in 2013. Although I must admit that the new layout for Saturday Domain is a complete dogs breakfast unless you don’t mind looking for Mosman properties in three different locations whilst having to suffer unrelated developers advertisements scattered throughout. Memo to Fairfax Media – vendors far from impressed.

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Cheers ^__^

5 Responses to “2013: A Different Market – Get On With Online”

  • Mark says:

    Chinese website looks good, just make sure the translation is accurate or it could offend, sometimes these tools screw up!!

    Honda found that out in China and their sales collapsed.

  • Mark – we did a fair bit of research and were told that the Google Translation that we have used is the best and most accurate – although it is very difficult to tell 🙂

  • Mark says:

    Hi Robert,

    Get someone you trust to check a few pages!!

    Learnt from experience

  • Great edition Rob, it took the market about 5 years to bounce back in the mid 90’s so I think your predictions are about right – at which point you’ll be muttering to yourself “Andrew, I am always right”
    Cheers
    AB

  • Robbie Mac says:

    Welcome to the New Year, and what a year it will be. The election, sadly, will dominate, and it will be a lot closer than predicted, so be prepared.

    Additionally, we seem to have struck a wave of bullishness, but it is sentiment driven, and not backed by enough data, which is also a concern.

    Regarding Fairfax Media, I was recently speaking to an ex employee of Fairfax and the opinion was they may not last the year. Perhaps a little extreme, but Fairfax’s ability to continually shoot themselves in the foot is unnerving. I suspect they will end up being bought at a pittance by another player and become a minor player.

    Finally, the Chinese translation of your web site. Well done, but like Mark, be careful. Having lived in Asia, I have seen some absolute howlers, and it only takes one little error to change the entire perception of an organisation. I would make the effort, spend a little coin and get a native Chinese speaker to proof EVERY single item. It will save you in the long run – please!

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