Your Empire July Property Update

Your Empire July Property Update YouTube Video, hosted by Lauren Staley, Managing Director Infolio Property Advisors in Melbourne, with guests Chris Gray from Your Empire in Sydney and Zoran Solano from Hot Property Buyers Agency Brisbane.

The Your Empire Australia Team reviews the CoreLogic Australia Data and gives insights into what they are experiencing in the current market. Here is the Your Empire Property Market Report July Key Points

• The market recovery in the last quarter is Sydney +4.9%, Melbourne 1.3% and Brisbane 3%; this balances out the increases in interest rate rises of 4%.

• In the last month, 1.5 - 2 million dollar properties have increased a further $50,000 to $100,000.

• The market has held firm with the 4% increase in interest rate rises.

• The window of opportunity to buy at a cheaper price is closing; the next 2-3 months is the “time to buy”.

• Don’t listen to the media; they are just looking for a story.

• More investors are selling than owner-occupiers.

• 8-9 Buyers are Owner Occupiers

• It is best to sell a property untenanted so you can prepare and style the property for an owner-occupier.

• If you are under financial pressure and thinking of selling and can not buy another property straight away, do anything possible to hold onto that property and avoid selling for two years to catch the next cycle of property price increases.

• The team anticipate more stock on the market for the “Spring Market”. They explain that “More stock usually means more buyers.”

The Your Empire Australia Team Property Experts gave in-depth insights into the property market and shared their experiences in the YouTube Video. We thought these key quotes would be of interest to you.

Chris Gray - Sydney

“For the quarter Sydney is up +4.9% , Melbourne +1.3% and Brisbane +3%, and for the month Sydney +1.3%, Melbourne +0.7% and Brisbane +1.3%, on a 1.5 - 2 million dollar property thats an increase of $50K-$100K of capital growth in a month.” He also says “If you have the money, now is the right time to buy, as long as you get the right property at the right price”

He went on to say,

“With 4% interest rates, but with 5% growth in a quarter, as long as you have the cashflow, the growth balances out the interest rates”

Lauren Staley - Melbourne

“Market has held firm”

She is experiencing unprecidented “Stock deficit in Melbourne. We are waiting for the influx of properties for the Spring Market Stock”

Zoran Solano - Brisbane

“There has been a resurgence in the market. There are more buyers than sellers, creating situations where we are seeing multiple offers for a property. “

He went onto caution

“The Window of opportunity for buying cheaper now then you could previously is closing. The oppitunity to buy at a cheaper price is closing. The next 2-3 months is the time to buy”

Lauren

“Don’t listen to the Media as the market has recovered. There are more people who are thinking about selling as there is equity there and to releave financial pressure due to interest rates.”

Of this group. “We are seeing more investors who are selling than owner occupiers.”

“Be cautious about selling due toi financial pressure, once you sell you may never again have that oppitunity to buy back in the same market. If you can hold onto a property and do it tough for a few years and wait for the next cycle of growth in the market, then this is what we reccamend that you do, now is not the time to sell (if you can’t afford to re-buy back in the market), as you may miss the next surge in property prices”

Zoran also reccamends that if you are experiencing financial stress;

“Refect before you sell. If you can stop yourself from selling do it. It will be worth it in the long run”

“Have a rethink about your property. Do what you can to upgrade it to achieve a better rental return to justify keeping that property.”

Chris Gray

“When is anyone ever happy about when they sold a property in the last 30 years?The capital growth is too good”

Lauren Asks Zoran for tips about selling an investment property.

“Currently 8 to 9 buyers out of 10 at the moment are owner occupiers.”

This means sellors have to make a choice.

“To sell the property tennanted or to have to courage to sell the property untennanted, and prepare the property and to style the property for an owner occupier to buy.”

“If you are selling a tennanted property with a lease longer than 6 months you are alienating the owner occupier market. The timing selling the property to have less than 6 months lease is crucial to capitalise and achieve the best possible result.”

Chris Gray was asked about his view about more stock coming onto the market for the Spring Market.

“Stock levels are always low in Blue Chip Properties, there is always a limited supply of stock in good quality markets.”

He finds

“More stock, usually equals more buyers, therefore a more competive market for a buyer to achive a good price. Always buy when you have the money.”

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