Rangas, budgie smugglers and real estate!

Rangas, budgie smugglers and real estate!

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Robert is on holidays and I will not even try to match his massive output.  I realised just how much preparation and research goes into his weekly column when I sat down and wondered where to start!

Robert will be doing his best work this week in Thailand (similar to Sir Les Patterson as the Australian Cultural Attache).   With the election looming, he will no doubt be explaining to the Thais what “budgie smugglers” are and what “ranga” means in the Australian vernacular.

Election … how will it affect our real estate market, you ask?  Well 10 years ago and beyond, people always sat on the fence until they saw which party was elected and how the result could possibly change their lives.  Three  months later (usually) things were back to normal!   However, today, many voters are not too concerned as they think both parties are closely aligned  in their business outlooks.

As one of our clients said the other day, “we have recently had 12 years of a Liberal Government so if they get back in we know how they operate”.  Too true!

We believe the election will come and go with lots of the usual stuff from both parties and then we will sit back and worry (as we do now) about the world economy and where it is going.

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longueville

BUY PRINT

This year’s real estate market has been interesting to say the least. It started very cautiously in Jan/Feb with positive news coming out of the USA.   This was reflected in March and up to Easter when quite a lot of property was sold as buyers moved in confidently to secure their family homes.

At the same time, while  people were away enjoying their Easter and School Holidays, Greece was in financial crisis and the Aussie Govt declared a new Mining Super Tax.

The Results were devastating!  The ASX fell through the floor (12-15%) in a week and the shutters were pulled down on the property market as everyone jumped back on the fence, to sit and watch.

My experience  selling real estate over the past 30 years has been that when there is a major setback in the market there is a three  month period of “wait and see”  before people jump back into the playing arena.  That three  month period is about up, as we have just had our July holidays, which, in our business, normally coincide with the quietest month of the year.

We have seen more buyers at our “opens” this week as some see this as a good time to buy when there is not too much competition around. The market presently represents good value and the bold buyers will probably be the big winners in the long term.

We anticipate that August /September will see more turnover of stock at the current levels and then a steady run into Christmas. Interest rates rises, which are still a topic of conversation, will have a bearing  in Western Sydney, rather than on the Eastern Seaboard but will keep prices in check across the board.

Look forward to seeing you at the opens, in the Village or on the sidelines somewhere soon.  Now I am off to find an orangutan wearing speedos, so i can send a photo to Rob in Thailand.

This week’s sales Mosman real estate, Beauty Point real estate, Clifton Gardens real estate, Balmoral real estate, Cremorne real estate, Cremorne Point real estate, Neutral Bay real estate, Cammeray real estate Click Here

Steve.

4 Responses to “Rangas, budgie smugglers and real estate!”

  • Well done Steve although I would suggest that you were a bit hard on Sir Les as I can play him off on a break:)

  • Ann says:

    Yes well said Steve.

    Wonder if Robert will send in a Foreign Correspondent blog, just to suprise us

  • Steve

    Thanks for a great read and giving me some guidence, I think you have given Robert some competition! Good luck finding the Ranga anywhere near Mosman….I don’t like your chances unless you visit Taronga…you might just find those speedos!!!

    mj

  • Craig Pontey says:

    Steve

    Well done champion….great reading…much better than Robert’s. Hopefully he is enjoying his break. All the best for a strong second half of the year. Happy selling and Regards Craig

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