Greetings from Scoutable and welcome to our first newsletter of the year.
We hope you had a great holiday season and wish you the very best for 2018.
The property market (unofficially) kicked off this week. With school back and most people having returned to work, the year is now in full swing. During the holiday period, we've been busy inspecting and stock levels are looking good! We are seeing some great opportunities and looking forward to securing some good deals.
There are a variety of forecasts concerning the property market for 2018. Some are anticipating a correction in the market following a double digit per annum growth over the last four years. However, a Business Insider article from 24 January argued that once you adjust the recent price data to factor in the usual seasonal declines that occur over summer, it looks like prices are already stabilising (please find link below).
As always, our advice is that property is a long-term hold. There will always be movement in the market. The key is to not over extend yourself, buy in ‘blue chip’ locations (close to transport, retail facilities, CBD, schools, universities, hospitals) and do your research (what infrastructure have been earmarked for the area? schools? public development? zoning changes? etc.).
If you would like to discuss the current conditions of the market further, please get in touch.
Till next month,
Kellie Landrey | Principal Buyers Agentr
IN THE NEWS
THE IVY TO BE REPLACED BY 55 FLOOR HOTEL
CONSTRUCTION OF GREEN SQUARE AQUATIC CENTRE KICKS OFF
AUSTRALIA'S HOUSE PRICE CORRECTION MAY ALREADY BE OVER
PROPERTY OF THE MONTH
3 BAKERS LANE FOREST LODGE
CUTE! CUTE! CUTE! That pretty much sums up this Forest Lodge semi. Set down the end of a quiet lane, this property offers 126sqm of land close to the city with a price guide of $1,000,000.
The existing layout has been stylishly updated to maximise light and space and is easily inhabitable provided you're happy to live a minimalist lifestyle.
Currently, two small bedrooms occupy the front of the house with little to no storage, and should you be happy eating dinner off your lap, the rear of the house offers a delightful airy oasis. A DA approval for renovation means there's a solution in place to rectify some of the spacial issues should you wish to do so.
While we're aware that it's not the palatial home that many of us dream of, nor would it necessarily be suited everyone, we think it's a great opportunity to secure a decent piece of land with scope to future improve, whilst enjoying it's many little charms in the meantime.
The property would make an ideal investment as it's located approximately 3 kilometres from the CBD and is within walking distance to Sydney University, UTS, RPA Hospital and the retail and restaurant hubs of Glebe, Newtown and Broadway. This will ensure a wide pool of potential tenants for the property. At a purchase price of $1,000,000 and an estimated rental of $750pw, the returns would yield approx. 3.9%pa.
If you'd like to know more about this property or any others, please get in touch.