Archive for March, 2019

Ask Agent Stevan A Question About Real Estate

Posted in Buy, Manage, News, Rent, Sell on 28th March, 2019

Social Trends in Property Market

McCrindle demographic study looks into the changing of the guard in terms of Australian generations. From 2019, there will be more Australians born since 1980, than before 1980. This study acknowledges the change with Generation Y (born 1980 to 1994), Generation Z (born 1995 to 2009) and Generation Alpha (born since 2010) as they become the dominate generations of our population. This will see Generation Y beginning to dominate as workers, consumers, new household formers and will therefore emerge as the key demographic to engage with. From a property perspective, if Generation Y is now the dominant age group we need to... View article »
Posted in News on 21st March, 2019

Alan Oster, Chief Economist for NAB Group, predicts two cash rate cuts in 2019

Growth appears to have lost significant momentum, placing at risk further improvement in the labour market at a time when inflation poses little constraint on policy and financial stability risks have abated. We have pencilled in one 25bp cut to 1.25% in July and a further 25bp cut to 1% in November. We see the timing of a rate cut as very data dependent; any deterioration in the labour market would lead to cuts and this could happen earlier than the financial market currently anticipates. If, as we expect, the loss of momentum in private-sector activity seen in H2 2018 continues, then there is... View article »
Posted in News on 11th March, 2019

From Parramatta to Sydney CBD in just 20 min. Metro West construction to commence 2020.

Construction on the new Metro West rail line will be accelerated to begin next year – slashing travel times between Parramatta and the city to just 20 minutes. Premier Gladys Berejiklian said the decision to bring forward construction is only possible because of the strong economic management of the NSW Liberals & Nationals Government. “We always said we would build Metro West as fast as possible and today’s announcement shows we mean business,” Ms Berejiklian said. “We have worked our guts out to get the budget in a strong position and now we are able to deliver crucial rail projects like Metro West quicker... View article »
Posted in News on 7th March, 2019

Huge growth of ferry services for Parramatta river

The private operator of Sydney’s ferries will put on 400 extra weekly services by mid-2021 after the state government awarded it a $1.3 billion contract. Under the nine-year deal, French company Transdev will bear the cost of leasing 10 new ferries to expand services on Parramatta River and a further three Emerald-class vessels for routes on Sydney Harbour. About 280 weekly services are due to start on Parramatta River in the middle of next year. A company Transdev now owns outright has run the state government-owned ferries since 2012. Under the new contract with Transdev, the extra services planned for Parramatta River by mid next year... View article »
Posted in News on 7th March, 2019

Less than 5% of homes in negative equity, says RBA

Only five percent of homes are in negative equity, the RBA Governor Philip Lowe advised in his speech to the AFR Business Summit. "Our estimate is that currently, less than five percent of indebted owner-occupier households have negative equity, and the vast bulk of these households continue to meet their mortgage obligations," Lowe said. "The nature of Australian mortgages – in which there is an incentive to make prepayments – has also helped," Lowe added. Lowe expects a further tightening of the labour market, which will see a gradual increase in wages growth and faster income growth. "This should provide a counterweight to the effect on... View article »
Posted in Buy, News, Rent, Sell on 6th March, 2019

Construction of Metro West line to begin 2020, says NSW Premier

New railway stations will be created at Five Dock, North Burwood and North Strathfield as part of the promised Metro West rail line, which the Berejiklian government has committed to beginning next year if the Coalition wins the upcoming election. NSW Premier Gladys Berejiklian and Transport Minister Andrew Constance announced the Coalition would inject $6.4 billion into the transport infrastructure project, which is expected to reduce travel times between Parramatta and the Sydney CBD to 20 minutes, with trains running every two minutes. "We’ve been working day and night to bring forward the day of start of construction, and what I'm really... View article »
Posted in News on 4th March, 2019