Adelaide continues to display the stability in real estate prices for which it is well known. The first home buyer and unit sector remains strong, while other sectors are selling but with longer days on market.
Vendors selling can be safe in the knowledge that they have made significant capital gains in the last few years. Vendors who have recently purchased and are now selling are doing so on an even playing field.
Statistics are showing that the vacancy rental rate for properties is now approaching 3%. At Jock Gilbert Real Estate the vacancy rate is .5%, showing that well maintained and managed properties are still renting out well.
All the data is telling us there are challenging times ahead. With sound judgment and management of the marketing process properties are still achieving good prices. Auction is still a good market option where the property is likely to attract strong interest, as was the case with a recent auction sale which had 14 registered bidders and sold well.
Until next time….
Friday, April 24, 2009
Friday, September 12, 2008
REAL ESTATE FORECAST - A REALITY CHECK
Jock Gilbert comments on the state of the national and local market and the new legislation:
· In recent years, local and national real estate has experienced major capital growth with regular conversations over coffee focusing on ‘how much the property down the road sold for’. This was not sustainable. Just think where prices would have been in five years time had this continued.
The last year alone saw Adelaide median house prices increase 15.87% to $365,000. During the last quarter they remained stable, but home owners should be happy with the significant capital growth they have achieved.
Nationally, Adelaide continues to demonstrate its housing price stability with strong realistic gains achieved without the fluctuations, of the larger cities like Perth, Melbourne and Sydney. Here median house prices fell in the last quarter.
Look at the current situation in Palm Beach, New South Wales. Recent sales (58) indicated a 5.6% decrease over the last 12 months. However during the past 4 years Palm Beach has enjoyed a 62% gain to a median price of $2.55m. Property investment has to be judged in terms of years not months.
· The biggest challenge will be in the outer mortgage belt where interest rate rises and petrol price increases are likely to have an impact.
Overall analysts feel that with the S&P ASX 200 down by 10.5%+, the property market locally and nationally is holding up very well.
· Looking forward to 2010 & 11, BIS Shrapnel are predicting good growth across the board in national residential property prices, with Adelaide expected to be amongst the best performers.
On another note, July 28 heralded a new era for South Australian Real Estate with the introduction of The Statutes Amendment (Real Estate Industry Reform) Act 2007.
· The legislation aims to raise professional standards and increase consumer protection.
· For the vast majority of agents, it will be business as usual. Buyers and vendors will notice some changes in the quoting of prices and will no doubt take a while to get used it. Like any change there is a period of adjustment.
Buyers are reminded that in order to bid at an auction you are legally required to formally register with the agent on the day by completing a Bidder Registration Form, showing sufficient photo I.D. and obtaining a bidding paddle.
Do you have any questions regarding the new legislation, or do you have any general real estate queries? Our panel of real estate professionals are available to answer any and all of your questions.
Jock Gilbert Real Estate is fully committed to any measure that ensures the industry operates at the highest possible standard.
Closer to home, we have recently launched the gallery space at our office on Kensington Road. If you wish to be on our emerging artists exhibitions mailing list please email narellek@jockgilbert.com.au
· In recent years, local and national real estate has experienced major capital growth with regular conversations over coffee focusing on ‘how much the property down the road sold for’. This was not sustainable. Just think where prices would have been in five years time had this continued.
The last year alone saw Adelaide median house prices increase 15.87% to $365,000. During the last quarter they remained stable, but home owners should be happy with the significant capital growth they have achieved.
Nationally, Adelaide continues to demonstrate its housing price stability with strong realistic gains achieved without the fluctuations, of the larger cities like Perth, Melbourne and Sydney. Here median house prices fell in the last quarter.
Look at the current situation in Palm Beach, New South Wales. Recent sales (58) indicated a 5.6% decrease over the last 12 months. However during the past 4 years Palm Beach has enjoyed a 62% gain to a median price of $2.55m. Property investment has to be judged in terms of years not months.
· The biggest challenge will be in the outer mortgage belt where interest rate rises and petrol price increases are likely to have an impact.
Overall analysts feel that with the S&P ASX 200 down by 10.5%+, the property market locally and nationally is holding up very well.
· Looking forward to 2010 & 11, BIS Shrapnel are predicting good growth across the board in national residential property prices, with Adelaide expected to be amongst the best performers.
On another note, July 28 heralded a new era for South Australian Real Estate with the introduction of The Statutes Amendment (Real Estate Industry Reform) Act 2007.
· The legislation aims to raise professional standards and increase consumer protection.
· For the vast majority of agents, it will be business as usual. Buyers and vendors will notice some changes in the quoting of prices and will no doubt take a while to get used it. Like any change there is a period of adjustment.
Buyers are reminded that in order to bid at an auction you are legally required to formally register with the agent on the day by completing a Bidder Registration Form, showing sufficient photo I.D. and obtaining a bidding paddle.
Do you have any questions regarding the new legislation, or do you have any general real estate queries? Our panel of real estate professionals are available to answer any and all of your questions.
Jock Gilbert Real Estate is fully committed to any measure that ensures the industry operates at the highest possible standard.
Closer to home, we have recently launched the gallery space at our office on Kensington Road. If you wish to be on our emerging artists exhibitions mailing list please email narellek@jockgilbert.com.au
Thursday, August 14, 2008
SALA Festival - Gallery Opening
Jock Gilbert Real Estate opened its doors to the South Australian Living Artists Festival last week when they officially launch their first SALA Gallery season on Thursday 7 August.
“We are very excited to be part of this fantastic festival” said Diana Gilbert, Company Director at Jock Gilbert Real Estate. “Our office was purpose built with this sort of event in mind and it has been a huge aim for us to support local and emerging artists in this way”.
Athanasia Savvoudis, Sam Jeffries, Sharon Gray, Megan Field
The works of Stefan Maguran and Salvador Loreto have been handpicked and will be displayed throughout the SALA Festival, Monday to Friday from 9am to 5pm at 60 Kensington Road, Rose Park.
In keeping with the ‘local’ feel, the Don Dunstan portrait painted by Salvador Loreto will be on display and is a must see for any and all South Australians.
“This is just the first of many exhibitions we intend to hold at our Kensington Road office, and we expect it to be a highly successful event.”
Sally Chapman, Margie Fox, Skye Jarvis
Wednesday, July 23, 2008
Jock Gilbert Real Estate proudly supports Australian Sponsorship 4 African Kids Ltd.
Australian Sponsorship 4 African Kids (AS4AK) Ltd was initiated in 2006 by the irrepressible Television Chef, noted Food Anthropologist, Author and Public Speaker, Dorinda Hafner, in memory of her mother, Awula Elizabeth Naa Lamiley Bannerman-Addy, a life-long champion of children, especially the underprivileged.
AS4AK is a sponsorship fund which will continue to raise money for the advancement of kids in need in not only Ghana, West Africa, but eventually, projects all over Africa, and those that Elizabeth Bannerman-Addy's vision and passion would be proud to support.
As a humble beginning, in 2006 AS4AK first raised money for the children at VisionPort International School founded by the proprietor, Joy Addy and situated at the family home at Mamprobi, Accra in Ghana, West Africa.
In 2008 AS4AK's work in Ghana continues with support for another local and very worthwhile children's centre - BASICS, headed by Ms. Pat Wilkins. Jock Gilbert Real Estate is proud to support such a well rounded organisation who are dedicated to making a positive change in the lives of African kids.
For further information on AS4AK visit their website http://www.as4ak.com/
20’s Party To Celebrate 20th Birthday!
The glitz and glamour of the 1920’s were well and truly alive at the Jock Gilbert Real Estate midyear sware this past week. Sales consultants and admin staff transformed into flappers and gangsters, golfers and smooth customers to celebrate the company’s 20th Birthday. With the night in full ‘swing’, many were seen attempting to do Charleston to the period jazz music which played through to the early hours of Saturday morning.
(Matt Walsh, Adam White and Di Gilbert)
(Paul Lea, Anne Frearson Lea and Jock Gilbert)
(Kim Haines, Andrew Wilton and Jock Gilbert)
(Narelle Kavanagh, Adam White and Di Gilbert)
(Matt Walsh, Adam White and Di Gilbert)
(Paul Lea, Anne Frearson Lea and Jock Gilbert)
(Kim Haines, Andrew Wilton and Jock Gilbert)
(Narelle Kavanagh, Adam White and Di Gilbert)
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