While we wait to see the flow on effects of the interest rate rises and its impact on the housing market, I am happy to report that the rental market on the Northern Beaches (in particular our part of it) has never been so strong. Our property management team is going gang-busters. Led by Sienna Berney, and artfully supported by Lucy Allen, the Shores Property Management team has developed a reputation for care and consistency – AND record prices. They are a formidable force locally, so if you’re considering renting your property, call Sienna on 0431 302 023, she’ll outline all the dos and don’ts, whats and wherefores for you.
For those of you who are renovating (like me!) or those of you who simply want to reduce your power bills but haven’t gotten around to investigating the best way to go about it…we are planning a special information night to outline the best and latest innovations in alternative energy. The temptation to ‘get off the grid’ is growing all the time. So far, solar panels are an extra appeal to buyers rather than a ‘must have’, but I rather think they’ll become a more expected fixture looking forward. We want to help you get the information you need and invest well in your home for the future. Stay tuned for details.
Recent interest rate rises clearly demonstrate the RBA’s intention of getting on top of inflation. It IS worth noting that inflation is pretty global at present, and as such, the causes – war in Ukraine, supply disruption from China amongst them – are perhaps less susceptible to RBA action than if it was all local. Still, the RBA’s job is to create stability…And so far, there’s not much evidence that our area is being targeted by the rate rises.
Firstly, there are still solid cashed-up buyers looking to make a sea-change – specifically in Avalon, Bilgola and Newport. That’s pretty much always been the case, although definitely accelerated over the past 2 years, and with ‘WFH’ now well embedded, it seems unlikely to reduce long term demand.
Secondly, prime location homes are often lifestyle choices. And as such, are always in demand. Our area – compared to other parts of Sydney, still offers great value, compared to other parts of Sydney.
Bear in mind when you are reading media commentary on the market place, that ‘average’ figures include all areas including where mortgage stress and job security may be greater than locally.
Of course, if values DO ease, there is a positive for first home buyers, who may quality for grants, are able to assess their potential debt capacity, and might finally find they’re not outbid at every turn.
Reminder. Long weekend. Queens Birthday…Thank You Ma’am! Coming in a week after the massive Jubilee celebrations in the UK for her 70 years on the throne. Whether you be Republican or Royalist, that’s impressive.
But our own anniversary, the delayed Avalon Centenary, continues with a exhibition of photos by the Avalon Beach Historical Society at the Community Centre. Open over the long weekend…
And so are we! Well, on Saturday anyway…have a great long weekend