October Wrap Up

Greetings from Scoutable and welcome to our October Wrap Up.

Last weekend saw the largest number of Melbourne properties go under the hammer, with 2,108 properties scheduled for auction. Sydney followed with 1,395 properties. Realestate.com.au recorded an auction clearance rate of 72% (of 1,772 reported results) in Melbourne. Sydney saw a clearance rate of 64% (of 1,011 reported results). Whilst the stock levels are high, we are noticing a lack of good quality stock, in key locations.

The latest QBE Australian Housing outlook has been released. The report includes state and territory analysis and forecasts of house and unit prices for the next three years. The report also provides information about Australia’s population growth, migration, first home buyer / investor market and more.

The below table reflects QBE prediction for properties prices across the states, showing the Sydney house market to remain relatively flat over the coming years, with Melbourne's median house price set to close the gap on Sydney's, reaching $940,000 in 2020. It is important to note that there are areas within each city which are likely to outperform these predictions. For example, the inner city suburbs of Melbourne and Sydney.

STATES AT A GLANCE.jpg

The full report can be found via the link below.
http:// https://www.qbe.com.au/campaigns/housing-outlook
 
Lastly, Happy Halloween to all the goblins and ghouls out there!

Till next month,
Kellie Landrey | Principal Buyers Agent

 

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IN THE NEWS

WEST CONNEX AFFECTING PROPERTY PRICES
https://www.domain.com.au/news/house-prices-fall-dramatically-in-sydney-suburbs-affected-by-westconnex-project-20171028-gz8x3m/

AUCTION CLEARANCE RATES FALLING
https://www.businessinsider.com.au/auction-clearance-rates-australia-volumes-rise-2017-10

A BOLD, BEAUTIFUL MOVE TO FRANCE
https://www.realestate.com.au/lifestyle/how-one-aussie-family-is-restoring-a-french-chateau/

WATSONS BAY COTTAGE SELLS FOR 30% OVER RESERVE
https://www.domain.com.au/news/once-in-a-lifetime-watsons-bay-beachfront-cottage-sells-for-14-million-8211-425-million-above-reserve-20171031-gzbh63/


PROPERTY OF THE MONTH

58 DERWENT LANE, GLEBE


What do you do with a c1850 stable house in Glebe? 58 Derwent Lane is a great example of the possibilities. A simple rectangular dwelling on a slightly larger corner block of land, the the basic layout is beautifully complimented by the balance of original detail and modern touch.

It's an eclectic mix of textures featuring exposed beams and brick work, timber paneling and polished concrete floors and we love the original barn doors which open out to the rear lane. The northern aspect ensures it's flooded with natural light and sliding doors emphasis the indoor/outdoor flow. Overall, it's a great example of turning a simple space into a well designed urban retreat through the use of cosmetics.

Conveniently set behind Glebe Point Road, it's within walking distance to the University of Sydney, UTS, RPA Hospital and public transport. Positioned next to Glebe Public School, you only need to roll out of bed to attend the weekly markets, so long as you're willing to tolerate the school bell during the week - It's definitely conducive to a regimented lifestyle.

With a buyers guide of $1,400,000, we think it'll get snapped up at auction, if not before, given the lack of quality stock currently on the market.

September Wrap Up

Greetings from Scoutable and welcome to our September Wrap Up.

I hope you all had a great long weekend, relaxing, catching up with friends / family and enjoying the warmer weather. For those who follow the footy, I hope your team won!

In true spring fashion, we've seen stock levels consistently rise over the course of the month. There's still speculation about what's happening to the market, in Sydney specifically, and while property prices have plateaued somewhat, the market still seems strong.

An interesting statistic is that over 70% of people who invest in property, buy within 5km of their home. It makes sense as the area is familiar. However, when selecting an investment property, the familiar might not be the best investment, research is key. When Scoutable is researching areas to invest in, we focus on properties that are: -

Low maintenance – properties with minimal or no facilities, this helps keep costs down.

Wide appeal – we look for properties that don’t appeal to just one type of tenant. Ideally the property will appeal to two or more of the following groups - singles, couples, young families, professionals and retirees.

Attractive features – we look for features that will attract tenants, for example, good light, internal laundry, proximity to transport and retail facilities.

Gentrifying suburbs –  Areas neighbouring established or establishing suburbs, they have a lower entry purchase price, with high growth expected due to the regeneration of the area.

Strong rental yield – ideally 3%+. The rental yield is the annual rental income divided by the purchase price

Low vacancy rates – We find out about the vacancy rates for the area. A high vacancy rate may indicate an oversupply, which could make it harder to rent the property out.

Planning – We check in with council for any proposed changes in the suburb that may affect future property prices. For example, new multiple storey apartment developments or zoning changes.

If you are considering investing in Australian property, please get in touch to discuss areas Scoutable has marked for investing.

Till next month,

Kellie Landrey | Principal Buyers Agent

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IN THE NEWS

WHY INTEREST RATES ARE RISING

https://www.realestate.com.au/news/rising-interest-rates-a-problem/

FRESHENING UP YOUR INVESTMENT PROPERTY

https://www.realestate.com.au/lifestyle/how-to-freshen-up-an-investment-property/?rsf=edm:nl:invest:a2

BEST ARCHITECTURE PHOTOGRAPHS OF 2017 - SHORTLIST

https://www.dezeen.com/2017/10/02/arcaid-images-architectural-photography-awards-shortlist-2017/?utm_medium=email&utm_campaign=Daily%20Dezeen%20Digest&utm_content=Daily%20Dezeen%20Digest+CID_9711d4cfe47f102e627edc29ff75886f&utm_source=Dezeen%20Mail

PROPERTY OF THE MONTH

905/12 MACLEAY STREET, POTTS POINT

Do you ever go to inspections just to have a dreamy sticky beak? Us too! Like this penthouse apartment in the "Macleay Regis" for instance. It has a company title and a $6million price guide so it's likely to have a limited pool of buyers but an opportunity to see this heritage home shouldn't be missed.

Built in 1938, Macleay Regis was inspired by New York's Rockefeller apartments. It has undergone a meticulous restoration and walking through the entry foyer is like walking into a time warp.

Full of original features, apartment 905 has an internal floor space that is larger than the land size of most inner city terraces (205sqm) and the living space alone is bigger than most one bedroom apartments. The dining area is a work of art consisting of panelled walls, ornate ceiling, herringbone hand laid parquet floors and a stained glass bay window.

Moving on from the interiors, the rooftop garden / terrace, just shy of 100sqm, boasts panoramic north east views from the Harbour Bridge to the heads - check out the video we posted to Instagram last week.

Though it's not uncommon to have separate parking in Potts Point, the only flaw is the off-site parking (across the road). On the other hand, the two secure spaces are on a separate title which is invaluable in these parts.

It's always a treat to see properties like this and we love how Potts Point has conserved so many of it's fine heritage buildings.

February Wrap Up

Good afternoon and welcome to Scoutable’s February wrap up. We hope you have settled well into 2017.

Scoutable held its first ever roadshow to Hong Kong & Singapore in February, where we presented on the Australian property market and met potential buyers including expats and foreign investors. We learnt that the appetite for foreign investment is strong. In fact, 70% of loans drawn overseas for Australian property are for foreign investors, whilst the remaining 30% are expats from not only Australia, but also England, America and Europe.
There are many great reasons for expats and foreigners to invest in the Australian property market:
A safe investment
More affordable options compared to local prices
Good yield and return on investment
The opportunity to build tax credits and wealth*
A home to settle in upon return to Australia
Our trip was a great success, and we're already planning our next visit in May. Please get in touch if you, or someone you know would like more information regarding investing in the Australian property market as a foreigner or expat.

The official cash rate was kept on hold at 1.5%, following the Reserve Bank of Australia's first rate meeting of 2017 on the 7th February. Interestingly, some lenders are adjusting interest rates outside of the RBA movement (or lack thereof) and there are still some attractive deals out there. To ensure you get the best match for your needs and situation, we can recommend some great brokers to help you find a loan that suits you best.

Are you looking to buy or invest? Call us for a chat. We love property and would love to find the perfect one for you.
 
Till next month,
Kellie Landrey | Principal Buyers Agent

*Scoutable is unable to provide tax advice. For independent tax advice, please seek guidance from a tax professional.
 

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IN THE NEWS

SCOUTABLE PRIDES ITSELF ON BEING INDEPENDENT, SO FEAR NOT!
http://www.yourinvestmentpropertymag.com.au/news/beware-of-possible-collusion-between-buyers-agents-and-real-estate-agents-231766.aspx

WHAT YOU NEED TO KNOW AS AN EXPAT
https://www.finder.com.au/australian-expat-home-loans

SIRIUSLY BRUTAL
https://www.dezeen.com/2017/02/24/safdie-esque-stacked-box-extension-proposed-for-sydneys-brutalist-sirius-building/

 

PROPERTY OF THE MONTH

852A ELIZABETH STREET, WATERLOO


Down an unassuming driveway in Waterloo sits this unique warehouse inspired dwelling. The property sits on 181sqm of land accommodating up to three bedrooms over two levels.

The entry floor provides master bedroom and open plan kitchen, living, dining which opens onto a small courtyard with plunge pool. Upstairs consists of two more bedroom and optional fourth bedroom or study. The property also provides parking for two cars. The price guide is $2.4M - $2.6M with a rental guide of $1,600 per week.

We love the variety of textures and features this house encompasses. From the custom copper kitchen to the freestanding solid marble bath. The exposed timber beams, concrete floors and dual sided gas fireplace.

Located 4km south of the Sydney CBD, Waterloo was originally an industrial area and is historically a working class region however since the early 2000s, the area has undergone a considerable degree of gentrification. In 2006 the median individual income in Waterloo was slightly higher than the Australian average. The suburb maintains numerous public housing apartments which has been a topic of controversy with regard to their demolition and the construction of luxury apartments.

January Wrap Up

Happy New Year and welcome to Scoutable’s January wrap up. We trust you all had a nice festive break and hope you're enjoying this hot Australian summer.

The unofficial start to the property market is Australia Day. Having said that, we have seen strong activity in January and we are expecting this trend to continue into the first quarter of 2017.

The reserve bank doesn't meet till Tuesday 7th February for its initial rate meeting for 2017 so the cash rate remains at 1.5%. In turn, interest rates are still relatively low and lenders are offering some great deals. We're seeing a lot of stock trading off market.  If you, or someone you know, are in the market for a new home or investment property, engage Scoutable. We know property and we'd love to find the perfect one for you.

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IN THE NEWS

IT'S TIME TO REVIEW STAMP DUTY
http://www.reinsw.com.au/Web/Posts/Latest_News/201701/New_premier_needs_to_review_stamp_duty.aspx

THE AGENCY COMES TO SYDNEY
https://www.domain.com.au/news/the-agency-arrives-in-sydney-with-the-aim-of-disrupting-real-estate-giants-20170130-gu1o6w/

PAY OFF YOUR INVESTMENT PROPERTY QUICKER WITH AIRBNB
http://www.news.com.au/finance/real-estate/buying/pay-off-your-investment-property-quicker-with-airbnb-says-global-index/news-story/4ffa6cc63f30e23a9b64cbfb46d50d10

 

PROPERTY OF THE MONTH

42 LITTLE RILEY STREET, SURRY HILLS

Sitting on approximately 170sqm of land, this Surry Hills corner block property is an inner city delight. Spanning over 3 levels, the architecturally designed home boasts three bedrooms, two bathrooms and one lockup garage which is an incredible value add in this part of the city.

Without compromising on privacy, louvered windows and skylights are featured throughout the house and an internal atrium running from the ground floor to the top, ensures an abundance of natural light and airflow. Contemporary finishes including bespoke timber cabinetry, slate floors, underfloor heating and a gas fire place make this space not just a beautiful build, but a beautiful home.

The ground floor consists of the lock up garage with internal access, main bathroom, laundry and an oversize bedroom offering versatility as this could easily become an office without intruding on you home.
The middle level is the heart of the home with seamless flow between living, kitchen, dining and fold-able glass doors leading to a private entertaining terrace.
The top floor houses two large bedrooms and a sky lit, resort style bathroom, all with cathedral style ceilings.
Surry Hills is a well established buzzing inner-city neighborhood with endless amounts of cafes, bars, restaurants and retail outlets. Moment to central station and an easy walk to the CBD.