Stuck for a christmas present for that person who is impossible to buy for..?

Pop into our office at 60 Kensington Road, Rose Park, and purchase a painting from one of our emerging artists.

Amy Herrman and Todd 'Romy' Romanowycz have some amazing pieces on display.

Great news that the RBA has cut interest rates by 0.25%.

Not so good that the banks have been slow to respond.

ANZ has now made the full cut, but their press release indicates they will no longer be guided by the Reserve Bank's official cash rate, but will make their own announcements on the 2nd Friday of each month. Interesting...

Hey prospective tenants - where are the manners?

Just chatting to our property management department - times are made to go through our vacant properties, and confirmed by SMS - but no one turns up.

Pretty hard on our committed, busy property managers.

So how about a quick text back if you can't make it?

With the mining boom in WA, the new trend in tenants in Perth is FIFO (Fly In, Fly Out), which are accounting for an increasing number of rentals. This trend is expected to follow into Adelaide, with the Olympic Dam and other mining developments.

Rental Ownership + Home Ownership

Proportion of income required to meet rental repayments has risen to 24.8% from 21.8% in 2001.

Proportion of income required to meet home loan repayments has risen to 34.6% from 25.1 in 2001

Interesting to see that both homeowners (34.6%) and renters (24.8%) are paying out a greater % of their income to have a roof over their head.

This has been rising since 2001 when it was 25.1% and 21.8% respectively.

With the CPI very low, there is a high chance of an interest rate cut next Tuesday.

With utility prices skyrocketing, Australians need a bit of relief at the moment, and this would be a positive step in the right direction.

In a patchy market where properties are still selling I thought you would be interested in this email regarding a property I recently sold in Toorak Gardens.

"From all the news being published at the moment about how real estate is travelling, the times people’s homes are on the market and "doom and gloom" that’s out there - We have not experienced any of it. We purchased from you one weekend, the next had ours on the market and 2 weeks later ours sold.....

We are living proof. It goes to show, how you told us, homes need to be realistically priced and then the stress suffered by everyone is kept to a minimum!”

Now more than ever listen to what your real estate agent has to tell you… You must have trust and confidence in your agent to represent your best interest at all times. If you don’t then you should be using someone else.

So sad to read of the death of Steve Jobs.

Due to his innovation we are launching QR Readers this weekend standardly on all our signboards and Just Listed material.

Simply download the App from the Apple Store and scan over the Code for an immediate eCatalogue of the property.

Thank you Steve.

In these days of business uncertainty keep your head about you with respect to house prices.

Unfortunately bad news always sells.

Remember while the Aussie share market is 30% plus down, depending on which day it is, on its 2007 peak, Australian house prices are about 10.3% above their pre GFC high.

There has been no house price growth in the last year, with a few exceptions, but in that time the ABS states our household disposable incomes have increased by about 7%.

Call me biased, but property is a good industry to be in.

Interesting to see on the rental front that tenants overall are paying higher rents, but that vacancy rates are also rising.

The huge hikes in water and rates are likely to have contributed this time around to rising rents, as landlords try to recoup some of their rising costs.

Remember, as from June there has been a 60% increase in water supply charges and 50% increase in basic water price.

If you are a tenant, go to our Hot News page on our website, and read 'Powering Down - The Retailers Responsibilities'.

Exciting times as I have been approached by several groups to stand for Presidency of the REISA.

Having been on the Board for 4 years, I am looking forward to the challenge of standing and representing what I am passionate about - People and Property.

Any questions or queries, would love to hear from you.

The Forgotten Core Component To Selling

It surprises me that there is so little focus on the skill and experience of the sales consultant in negotiation when there is discussion re who to appoint to sell you home.

Your home is the prime investment for most families. The focus seems so often to just to be on the marketing.

How your agent represents you during the negotiation process is critical to getting a win-win result.

Successful sales consultants are good negotiators with skill and expertise in navigating the most challenging of circumstances.

Profile On...Toorak Gardens

My experience in this beautiful suburb over the years has been extensive and full of fun with helping our cilents.

Houses always sell quickly to people who are attracted to TG because of its character, location, and strength of 'sound investment'.

We have sold about 70 properties in recent years in all streets, and some of the most memorable results have come through Toorak Gardens.

I love coming to work every day, and achieving an excellent outcome for all local home owners, past present and future!

Did you know the average price for the last 12 months was $1.261m?

Profile On...Rose Park

Much the same comments as Toorak Gardens, but a distinctly different style in Rose Park, dominated by stunning Victorian Villas and cottages.

Normally on smaller blocks, quite often with the old 'night lane' at the rear.

Demand and prices in Rose Park are strong, and like Toorak Gardens, sell quickly to happy people who just love the Villas.

The average price in the last 12 months was $1.134m!

Discounting Fees

I was speaking to Real Estate Business earlier this month on this topic.

I said there will always be those agents that cut rates to secure business, but what is surprising is how low they are prepared to go.

I can't help but wonder how they approach the negotiating of a sale on behalf of the Vendor.

Gallery At 60 A Success

A huge thank you to all who attended the latest opening at Gallery At 60, featuring the works of Ty Manning, Debra Nangala McDonald, Todd 'Romy' Romanowycz & Mitjili Napurrula.

It was a great night and the silent auction was strongly supported by our local businesses. All proceeds raised went to Sight For All. Check out their website to see the outstanding commitment and contribution this dedicated group of eye specialists are making to eye health and wellbeing in developing countries.

The exhibition is open from 9am - 5pm Monday to Friday until August 28th. Call in and have a look, as we have some fantastic work on display.

The CEO of REI of Victoria has pointed out that the last 20 years has shown that investment in Melbourne Property has provided better returns than the stock market.

Prices have been less valuable than shares, and buying a sound property in a good suburb means it is hard to lose in the medium and long term.

Your initial outlay is high, as are the transaction costs, but the variables to be aware of in purchasing a home or unit are easier to do your due diligence on, than researching a little known listed company.

Adelaide Most Expensive State..

Water pricing in Adelaide, along with other utility prices have just taken a major price hike.

We are now the most expensive mainland state…

Pretty concerning for everyone, especially young families, many of whom have struggled so hard to buy their own home.

First Home Buyers Market

New home starts are likely to remain in decline for the 2012 Financial Year.

A factor contributing to this is the anticipated rise in interest rates.

On the supply side, there is a load of finance available for residential developments, meaning many commercially viable projects aren't going ahead because of stringent conditions imposed by Lenders.

In addition, slow land releases and planning delays are adding to the cost of a new home.

How's The Market Jock?

....yes I do practice what i preach.

The market is fine if you ignore the Media…If you are thinking of moving house…Upgrading or downsizing, then what’s changed?

Nothing really, except that the market has leveled, but Interest Rates are cheaper than 35 years ago.

We bought our 1st home in 1976 when Rates were 9.88% and sold for 567 % gain in 9 years.

We bought our 2nd home in 1986 when rates were 15.5% and sold for 1207 % gain in 22 years.

We bought our 3rd home in 2008 when rates were 9.45% and…

Rates are currently 7.79%...This time 35 years ago they were 9.88%

Families are still growing and shrinking…Moving house in a stable Market allows you to do your homework carefully, then buy 1st and sell 2nd factoring in Bridging costs when yes prices may be off a little, but so is Stamp Duty…

At JGRE we are getting strong interest for nice houses (as we always have) with multiple offers and sales in 5 to 10 days…So I say, keep doing in life what you want as long as your Homework is realistic.

Jock Gilbert Real Estate and SALA Art Festival

As you know, we are strong community supporters of Emerging Artists through our Gallery at 60.

We are just finalising artists for our opening for the SALA Festival in August - more details soon.

If you wish to attent the opening, please email enquiries@jockgilbert.com.au.

Property Update

Buyers and Sellers are on an even playing field. In this type of market it is even more critical that marketing is targeting the right people for your property, and that the agent handling your property is a skilled and experienced negotiator.

Adelaide - Australia's Most Liveable City

The Productivity Commission has come out and said what we all know... Adelaide has been judged Australia's most liveable capital.

17 Criteria were used including public safety, climate, housing affordability, and public transport.

Adelaide came out on top, followed by Canberra, with Melbourne, Hobart, and Brisbane all in a cluster behind.

The Market Today....A Summary

Reserve Bank governor Glenn Stevens has said housing prices are nothing to be worried about, telling a business lunch yesterday prices in the current residential property market are "not exceptional by global standards".
But his comments come as new data from the ABS and property research RP-Data have found that home sales dropped by 20% during the calendar 2010 year, and commitments for new homes fell by 9.6% in January.
"I don't think we have huge rises going on... we have had quite modest growth in house prices for the past year or so," Stevens said yesterday.
"That would seem to me to be consistent with a household sector that is being more careful and has properly observed what has happened in other parts of the world."
Stevens said while the house price to income ratio is often quoted as evidence of a housing bubble, he argues the broader measures look at country-wide prices and income, and therefore the ratio is about 4.5 and "has not moved much either way for 10 years".
"That is higher than it used to be but it is actually not exceptional by global standards," he said.
Those comments line up the views of some analysts, such as those from ANZ and Rismark, which argue the house price to income ratio is deficient and does not take into account other income sources.
However, his comments come just one day after the Real Estate Industry of Australia released new figures which show housing affordability has become even more difficult, with the average homeowner now requiring 35% of their income to make repayments.
The same survey also revealed the proportion of first home buyers as a total of home owners has now reached its lowest point since 2004.
And RP Data said yesterday the number of sales dropped 20% during 2010. Sales fell by 30% in Darwin, in Brisbane by 29% and in Hobart by 28%.
Housing Industry Association economist Matthew King says while prices have remained stagnant lately, there is still an affordability issue plaguing first home buyers.
"My understanding is the governor referenced the fact there aren't huge price rises going on at the moment. That is true, we'd certainly agree with that and from the middle of last year we've seen prices grow significantly."
However, King says there is still a serious affordability problem in several property markets, and the HIA takes the view that interest rate movements need to be approached with caution in the next quarter as spending remains so fragile.
"There are obvious issues here, of supply, and other matters. The focus needs to be taken away from the house price side of things to the extent that we need to keep focusing on addressing the supply of new homes."
"It's all very well discussing house price movements, but we need to be looking at our ability to supply dwellings at the rate of demand. In recent years, we've done a poor job of that."
Stevens also made comments referencing the mining boom, saying Australians have done a poor job of handling sudden bursts of wealth in the past, and the country needs to improve.
"Having taken on quite a degree of debt over the preceding 15 years or so, households have thought better of taking on too much more," he said. "They are saving more than at any time for 20 years or more.
"So are households in many other countries, of course, but our good fortune is to be making that adjustment against a backdrop of rising income."

Homes on the Market for $2m+

SA has the 2nd highest percentage increase in homes for sale with a price tag of $2m or more since 2007. In March 2007 SA had 44 homes with a price of $2m+ listed for sale. In December 2010 this figure was 166, an increase of 277%.

The only state to out do us was the ACT with a whopping 2100% increase.

January a Quiet Month for Australian Housing Markets

Disruptions caused by natural disasters and low sales volumes have resulted in soft market conditions across the Australian capital cities. Capital city values were down -1.6 per cent (s.a.) while the rest-of-state markets saw a -1.2% (s.a.) tapering in values.

January is typically the quietest month in the calendar year for the housing market. Most Australians are on summer holidays and both listings and sales activity tend to dry up.

The spate of natural disasters in Queensland, New South Wales and Victoria conspired to undermine consumer confidence and as a result housing activity slowed throughout the country.

The sedate conditions in January were in evidence across the board, with all cities registering declines.

The median dwelling price in the capital cities is also down to $465,000 over the three months to end January, while the median in the rest of state markets is cheaper at $325,000. The national, all regions median dwelling price is $412,000.

Source: RPdata