Updated 1st August 2010
WELCOME :
The peak season has arrived and the good weather has returned ; the beaches are perfect for swimming. Warmth in the Tropics with the dry season bringing with some of the best weather that Australia has to offer ! Buyer confidence has returned to the market with increased enquiry and sales activity. In addition the discerning buyers are paying the differential for quality and position.
Market Activity Index (courtesy of RPData)
Based on the industry-respected RP Data-Rismark Hedonic Home Value Index, which uses the nation’s largest sales database combined with the most sophisticated index technology, Australia’s capital city housing markets recorded virtually no capital gains in the month of April, with home values up just 0.2 per cent (0.3 per cent seasonally adjusted).
The slowdown in capital growth comes on the back of 16 months of strong rises in home values. The anemic growth in April also contrasts strikingly with the market’s circa one per cent per month capital gains since the start of 2009.
Across Australian capital cities, home values were 11.9 per cent higher in the 12 months to April 2010.
In the month of April all cities recorded capital gains substantially less than the national average of one per cent per month in the previous 12 months, with Melbourne’s monthly growth rate halving from 1.6 per cent per month in the year to March to just 0.8 per cent in April.
Several cities recorded a dip in home values in April, with Brisbane values down 1.2 per cent, Perth values down 0.9 per cent and Darwin recording a 0.3 per cent fall. While both Brisbane and Perth have been consistently weak performers over the last year, Darwin dwellings have risen in value by 54 per cent since the start of 2007.
According to Tim Lawless, RP Data’s Director of Research, the April results are the lowest monthly capital gain since the end of the GFC-induced downturn in December 2008.
“A wide range of indicators have been hinting that a slowdown was on the cards. We are in a market now that has lower auction clearances, weaker home loan approvals, and lower consumer confidence. Combined with the six recent interest rate rises, and the fact that home values have recorded very large gains across key markets since the start of 2009, it is not surprising to see values start to track sideways,” Mr Lawless said.
Christopher Joye, CEO of Rismark International, added, “We have been forecasting a cooling in capital growth rates back down to single digit levels since October last year. Australian disposable household incomes rose by 11.5 per cent in 2009—unsurprisingly, the cost of housing increased by almost exactly the same amount. In 2010, disposable household income growth will be less than 5 per cent. Over the long-run, residential property values track purchasing power quite closely. We believe 2010 will be no different in this regard.”
Australia’s non-capital city markets, which while often ignored account for 40 per cent of all dwellings, have been experiencing significantly lower rates of growth in house values than their capital city counterparts.
Based on the RP Data-Rismark Rest of State Hedonic Index, house values in the non-capital city regions have been appreciating at less than half the rate of the capitals. Over the twelve months to end April 2010, the rest of state markets recorded capital growth of just 5.6 per cent compared with 11.6 per cent growth in the value of capital city houses.
Mr Lawless said that the rest of state markets have been underperforming compared with the capital cities throughout 2009—this trend has continued in 2010. In fact, over the last four months we have seen regional home values fall slightly by -0.1 per cent.
Rismark’s Christopher Joye added, “Housing costs in capital cities have risen more rapidly than the rest of state markets, which still account for 40 per cent of all homes, due to a confluence of stronger demand and less responsive housing supply in metro areas.”
Since 2003 Australian home values have tracked almost exactly one to one with disposable incomes. After the big boost to incomes care of the government’s fiscal stimulus and much lower interest rates during the GFC, the cost of Australian housing rose rapidly in 2010 in response to much stronger purchasing power. As interest rates have normalised, and disposable income growth falls back to 3-5 per cent in calendar year 2010, it is natural to expect the cost of housing to follow suit.
According to RP Data’s Tim Lawless, “The RBA will be encouraged by the cooling in capital growth rates and relieved to see that the six rate hikes have taken some steam out of the market. Alongside other weaker economic data, this will likely contribute to the RBA keeping rates on hold for the next few months at least. The futures market is currently pricing no rate hikes for the rest of the year.”
Rismark’s Christopher Joye continued, “The RBA’s Dr Luci Ellis recently stated that ‘we do not have a credit-fuelled speculative [housing] boom on our hands.’ This confirmed what we had been arguing for a long time now: the change in the cost of Australian housing was being driven by demand - and supply-side fundamentals, not higher debt levels. Credit growth is currently very weak, and we expect that in 2010 home values will broadly track disposable incomes. The April results are important since they provide the first credible evidence of a genuine moderation in conditions consistent with the recent weakening in auction clearance rate and housing finance data. The RBA will no doubt also chalk this one up to a victory for their recent ‘jawboning’.”
While capital growth rates have slowed, other indicators suggest that Australia’s residential property sector remains reasonably healthy.
Last week RP Data was monitoring 211,200 residential property listings in the market worth an estimated $134.6 billion. This is a slightly lower level of ‘stock on market’ than 12 months ago despite the fact that the number of newly advertised properties entering the market has been higher for most of 2010. This is at a time when mortgage rates are 160 basis points higher than they were 12 months ago.
RP Data’s Tim Lawless added, “We are seeing more properties selling than what is being added to the market each week which indicates that buyers have been out numbering sellers. RP Data has recorded more than 80,000 properties being prepared for sale over the last month suggesting that the number of new listings entering the market are likely to remain healthy over the coming month.”
“We closely monitor a range of critical real-time variables to give us insights on the ability of the market to clear volumes at stable prices, including the new listings, agent prelisting activity, the average number of days properties stay on the market before they are sold, and the extent to which vendors discount their homes to crystallize a sale” Mr Lawless said.
“With rental demand likely to be higher during 2010 due to continuing strong migration and fewer first home buyers, we anticipate that rents and consequently yields, will improve over the year,” Mr Lawless said.
Foreign investors are also looking to Cairns to purchase, being the third most popular city in Queensland for foreign purchasers. New Foreign Investment Reivew Board changes have relaxed conditions to stimulate further interest in our markets as of December 2008.
HOW TO USE OUR SITE :
Dedicated to the highest level of Internet Marketing of Real Estate since 2003. Pioneering internet marketing of real estate in Cairns since 2003.
We can be working for you on the sale of your property right now ! Contact us for a no obligation meeting to discuss the best way to market and sell your property. In addition to the traditional sales and marketing packages in the local region, we have tailored international marketing packages to attract either Australians abroad or International investors. Give us a call and ask about marketing outside of Cairns, Queensland or even Australia. It is all about YOU and the best marketing strategy that suits your property and your needs at the time.
Attachments - Plans and Videos :
Available for download in the Read More section where there is a list of available downloads at the end of the text.
Recently Sold Properties :
A few clients have asked where the properties are selling and which sectors are moving. Properties that have recently gone ‘Under Contract’ and ‘Sold’ are highlighted in orange/light orange. However we don’t keep them there for long.
Searching for what you want :
Entering a word like ‘beachfront’ into the Keyword checkbox and the engine will search through the site for all absolute beachfront properties for example. Alternatively you can click on the type of property on the top bar to take you straight there, or enter a specific three digit Property ID# into the ‘Search’ box, for example 133 and press the Enter key, so that you can see a full range of pictures and more detailed information. To Reset, all you do is click on the ‘Home’ tab.
Slideshow Feature - ‘One Click’ :
A slideshow feature has also been included so that you can click on the slideshow and you will automatically be shown every picture without doing anything else. If you move your mouse to the left of the centre of the three small picture thumbnails the pictures will rotate and you can click on the one you want, or alternatively enjoy the slideshow.
Full property information :
Available on the bottom right hand corner regarding land size, bedrooms, bathrooms, car spaces etc and links have also been added in the bottom corner.
‘Read More’ button for detailed information.
An easy to navigate, comprehensive site to provide you with as much information as possible and and at the same time, save you time and effort.
OVERVIEW :
Thank you for taking the time to view this page to find out more about the way we operate and our ideas and thoughts on how to make a difference in the industry.
In Sales, we are delighted to represent properties in all areas and currently represent property in a 350km radius of Cairns.
In Rentals, we are selectively growing the business in executive rentals and in particular clients who want the extra service level that makes the difference. We are currently focussed on the Cairns Northern Beaches area ; 25km North of Cairns.
It is all about helping you to move forward. The attention to detail, text, graphics, signage and level of quality of product and service does not cost you any more. We do it our way, there is no ‘recipe’, each property is different. We help your property GAIN THE MAXIMUM EXPOSURE in the marketplace to match sellers with buyers.
When you have come to know our business you will know we are genuine in wanting to make a difference in the service based industry of Real Estate. We also have your interests at heart at all times and will provide as ACCURATE AS INFORMATION AS POSSIBLE AT ALL TIMES.
Listening to our clients has helped has helped us to evolve the business to provide what people are currently requesting. We will keep on listening and evolving. WE OFFER THE PERSONAL TOUCH as well as BENEFITS FROM A TECHNOLOGICAL VIEWPOINT. I have detailed below some of our points of difference, and what we do, that makes it all work.
SERVICE :
OFFERING A SUPERIOR LEVEL OF SERVICE, INFORMATION AND RESPONSIVENESS BY THE EFFECTIVE INTEGRATION OF TECHNOLOGY INTO REAL ESTATE. We COMMUNICATE with clients at the FIRST STAGE OF ENQUIRY - THE INTERNET - to build the relationship. This marketing method is specifically designed to MATCH SELLERS AND BUYERS in the National and International marketplace, faster and more effectively in order to ACHIEVE AN AGREED PRICE TO EFFECT THE SALE OR PURCHASE OF YOUR PROPERTY IN A TIMELY MANNER. Privacy and discretion assured.
We are here to make your Real Estate experience as STRAIGHTFORWARD and PLEASURABLE as possible. We want to LISTEN to you, CONSULT with you and effect the sale or purchase of your property with as little fuss as possible. QUALITY IS KEY IN EVERY ASPECT. We pay particular attention to detail, like no other.
Relationships are of primary importance to us at PREMIUM PROPERTY SPECIALISTS. We are continually striving to DO THINGS BETTER. Whether you are an owner or a buyer, we want you to consider us as the FIRST POINT OF CONTACT and the new way to do business.
We welcome your feedback, please feel free to contact us at any time.
Specialising in Real Estate Sales of properties in the Cairns Northern Beaches region, absolute beachfront property, lakefront, canal front and beachside properties.
PROJECTS / RELATIONSHIPS :
RESIDENTIAL, DEVELOPER - OFF PLAN, COMMERCIAL and other REAL ESTATE AGENTS, REAL ESTATE BUYERS AGENTS.
We are especially interested in establishing and fostering builder / trader / developer relationships during the coming year and they can be seen under the Projects Tab on the Menu Bar.
We are also more than happy to work with other agents on any of our properties and strongly request loyalty (especially from buyers agents) for the information that we provide and the time and effort that we go to. Please contact us directly for further discussion.
ROLE :
PROFESSIONAL SALES CONSULTANCY.
Our Sales Consultants are effective negotiators and their primary role is to act as the intermediary and information source in your real estate transaction. We believe that our role is to make your Real Estate transaction
THE BEST YOU HAVE EXPERIENCED.
AVAILABILITY :
ALWAYS.
Please call us direct or send an email. We have a quality system in place where all inbound enquiries and emails are responded within 24 hours.
WHY YOU SHOULD CHOOSE PREMIUM PROPERTY SPECIALISTS AS A PARTNER :
o Communication with clients at the first stage of enquiry
o Marketing capabilities
o Negotiation Skills
o Ease of doing business
o Fast client information systems
o Easy and fast to navigate Company Website
o Attention to detail
o Technology that works, with ongoing innovation
o Quality photography and marketing
o Privacy and discretion assured
o Someone who really cares
In addition to all of the above, the following are issues that you do not have to deal with when you do business with Premium Property Specialists.
Issues with Franchised Real Estate Firms :
o Attempting to establish a long term relationship with your agent. After living in Cairns for over 14 years and experiencing real estate - the people - the industry over that time, you find that staff / salespeople are continually being turned over. The business name might be ths same but is that what you are really after ? Don’t you want a relationship with someone who is here to stay and who really cares ?
o We believe that a Franchise structure limits the ability to deliver service to homeowners, and you should be enjoying the personal level of service that best suits you.
o When a business contracts to someone elses brand, they must follow certain rules, procedures and conventions, regardless of whether or not they are properly formulated, or current in today’s market, and meet what you require as a client in the region of Australia that you live and work.
o Auction. Certain situations require or demand an Auction. Outside of these situations, carefully consider the choice of how to best market your property in the current market conditions. While auctions have worked well at times in Australian capital cities during a stag buoyant market with high demand, short supply and low interest rates, the same may not apply in the Cairns region for residential, or in particular unique property. In addition to this it is also good to see legislation tightened so that anticipated pricing levels prior to auction are properly noted, and ‘vendor bids’ are properly announced during the auction
o To address in particularly Auctions, the OFFICE OF FAIR TRADING has now requested that clients are presented with a CMA Current Market Appraisal which will substantiate agents and auctioneers’ quotations by including pricing information about ‘like sales’ in an area. ‘Like sales’ are the SALES OF AT LEAST 3 PROPERTIES of a SIMILAR STANDARD & CONDITION sold with a 5km RADIUS of the property, within the preceding SIX months.
PREMIUM PROPERTY SPECIALISTS :
Thank you for taking the time to find out more about our business. We look forward to WORKING WITH YOU AND FOR YOU in the near future !
Should you require any further information, please do not hesitate to contact us, at any time.
Grant Freeman (B.Engineering)
Principal Licensee
PREMIUM PROPERTY SPECIALISTS
PRIME AGENT
M : 0417 159 357 (Intl +614 1715 9357)
P : 07 4055 3278 (Intl +617 4055 3278)
F : 07 4055 3273 (Intl +617 4055 3273)
E : To Email us please click on the link at the bottom of the page