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Excellent one on one interview where Steve Patrick interviews Glen Spratt from Mortgageport about the state of the market regarding the local home loan market. The interview discusses -
This video was produced by visualdomain
Or, should that read the light at the end of your tunnel?
Many are reporting light and others fright. I for one, support the light given that the Mosman property market remains controlled and given the current stock levels, the message is clear – Mosman houses are closed for business!
Should the current pattern continue, there remains a strong possibility that available properties will reach the lowest level in decades. Simply put: the fright no longer remains a concern and for the first time, real estate agents and vendors are not starting to see the light, but are now seeing a brighter turnaround, although it should be noted that longevity is not guaranteed.
It would then be somewhat reasonable to suggest that given the circumstances in our inherited global financial crisis, businesses today, require vision, strategy and greater acknowledgement of evolving technologies. For the first time, property market interaction has seen online take the lead over the previously preferred print campaigns which are no longer the dominant force. Print will still play a part just that from an economies of scale basis, it will require a re-definition so that it can remain competitive. The leading real estate agencies are now driving and presenting smart online marketing alternatives. For a real estate agency that does not host its very own website, the future is bleak to say the least – simply because all their competitors do.
Markets today are judged from online results, because they are readily available, subscriber driven, easily accessible (except property data) and allow individuals to draw compelling conclusions. The inbox today is what activates consumer interest first, simply because it now is the first point of contact and first impressions count. With the benefit of hindsight it is much easier to track our current recession simply because in our last recession (early nineties) the Internet was still in creation mode. Today, we extrapolate (and then pontificate) data and depending again on your point of view, some believe we have seen the worst and others predict that the worst is still to come.
The ongoing, frustrating debate continues but I believe we have turned the corner and slowly but surely, we are on the long road to economic recovery. When businesses move from economic growth to economic recession – you don’t lose intelligence, you learn and grow from the experience. Unfortunately, the reality of the current economic crisis can be attributed to one word – greed.
As Alan Kohler wrote on www.businessspectator.com.au The best kind of recession – “This is turning out to be quite a nice recession for Australia.
Aussie GDP has fallen just 0.5 per cent, compared to nearly 10 per cent in Japan, 4.6 per cent in Europe and 2.6 per cent in the US. Unemployment has actually decreased according to the latest data and is now at 4.5 per cent – at least two percentage points below other western countries, where unemployment is rising quickly.
With tax cuts and a drop in both mortgage interest rates and petrol prices, the after-tax disposable income of the average wage earner has actually increased by 19 per cent, according to calculations by CommSec’s Craig James.”
Furthermore, one in five international business people (in a survey of 7,500 across twenty four nations) named Australia as the country best surviving the recession. Australia first, China second and India and Singapore equal third.
Toxic debt within our banks has been a very well kept secret but in 2009, banks have certainly been responsible by opting to wait for property markets to stabilise instead of fuelling the problem as they did previously. Nobody can win the argument that property markets don’t recover as we all know that with time, all wounds heal. The Mosman market is not only healing, its appeal is greatly assisted by a cash rate of 3.00 per cent.
Without a doubt the media microscope of opinion has manipulated as well as injected fright into market perceptions. After an unprecedented period of economic growth in Australia, it was hoped that we would bask in economic consolidation before we found ourselves in economic recession. The decline from consolidation to recession surprised everyone. What remains to be seen is how quickly GDP recovers so we then climb back to economic consolidation. Whilst economic growth is still a way off, every Australian business has a strategy to climb back up. The test of time can only be measured by what you are actually testing and discovering.
We have to move with the times.
This time around the businesses with strong online content (in real estate) have done much better than those businesses that wait for it to happen. Watch the movement of property between now and June 30, which I believe will be a defining property market moment. RWM Internet sales jumped to $848,794,019 this week. Our point of difference over other real estate agencies is our online factor which is exactly where we have your eyeballs at this very point in time. You will also notice with this week’s recorded sales a substantial upward spike in sales volumes (see below).
Once upon a time it was a window card placed in the shop front, then an advertisement in a newspaper. Today, consumers judge real estate agencies by their online content. After all, we are in an economic recession where it is all about money. In economic growth they show the money and in economic recession they slow the money.
The real fright at the end of the tunnel is actually shared by the real estate agencies that ignored the move into technologies– just like every other economic recession money is slower. In a recession one has to put the faith in themselves, not others.
Chk – Chk – Cheers ^__^
For this week’s recorded Mosman real estate, Cremorne real estate, Neutral Bay real estate and Cammeray real estate sales http://www.rwm.com.au/news/
Despite the ongoing economic rumblings Mosman real estate sales, Cremorne real estate sales, Neutral Bay real estate sales and Cammeray real estate sales in 2008 have been mixed results thus far. It has become most increasingly difficult to call these unique markets given sentiments change based on an overload of data which more often than not remains strangely in the negative zone. Better known today as the Mosman myths and the real estate mysteries where facts never get in the way of a good story.
Better still the 2008 property “twilight” zones where (aside from media) the only thing that I see knocking is opportunity. Given the current propensity of living in the past like casting similarities to The Great Depression what many forget is that in 1995 our lives were then programmed for the greatest (not depression) change ever seen before – that being the Internet (exactly where you are now).
Address: 646 Military Road, Mosman
NSW 2088 Australia
Phone: +61 2 9969 7622
Fax: +61 2 9969 7859
