Tuesday, 17 July 2012

Great report on Rental price differences from Bob Guth


"if you are getting blog via email click above heading for missing pictures and video
and also the whole document not just the small email alert" 

I was reading Property Observor and fond a link to this guy 
Great report on Rental price differences from Bob Guth.




REDUCED RATES TO KICK-START MARKET
The Reserve Bank reduced interest rates yesterday by 0.5% as an admission they had blundered by leaving rates on hold in February and March. 



With the two rate cuts at the end of last year the Eastern Suburbs property market was set to rebound in the early part of this year but faltered by the lack of rate-cut continuity coupled with Banks’ actually increasing rates due to higher funding costs. 


When one links this with the overall economic uncertainty and instability of the Federal Government it is no wonder the cut was overdue. Unfortunately the reality is the Banks are unlikely to pass on the benefit of the full 0.5%.

It will be very interesting to see over the next few weeks if we enjoy increased enquiry from buyers which may manifest into the beginning of gentle price increases. 

I will report in my newsletter on this subject.


RENTALS CONTINUE TO RISE

The table below shows our re-letting of properties for the month of April. Certainly the trend seems to be positive. We have noticed however that the top end remains soft for leasing.


Property address
New Rent
Old Rent
% Change
Hopewell Street Paddington- Studio apartment
$325
$300
+8.3%
St Neots Avenue Potts Point - 1 bedroom ground floor apartment
$350
$300
+16.7%
Edgecliff Road Edgecliff - 1 bedroom plus study Art Deco apartment
$425
$420
+1.2%
Darling Point Road Darling Point - 1 bedroom modern apartmen
$525
$500
+5.0%
Drumalbyn Road Bellevue Hill - 1 bedroom plus sunroom apartment
$540
$520
+3.8%
Andrews Avenue Bondi - 1 bedroom renovated apartment
$590
$575
+2.6%
Thornton Street Darling Point - 1 bedroom with stunning views
$620
$610
+1.6%
Holt Street Double Bay - 2 bedroom security apartment
$620
$600
+3.3%
Herbert Road Edgecliff - 3 bedroom terrace
$870
$820
+6.1%
Young Street Paddington - 2 bedroom 2 bathroom apartment
$900
$850
+5.9%
Billyard Avenue Elizabeth Bay - 3 bedroom 2 bathroom apartment
$1150
$880
+30.7%
 
 
 
Overall increase 7.75%


NOTABLE SALES THIS WEEK
3 Raine Street Woollahra $1,450,000
174 Underwood Street Paddington $1,640,000
79 Cascade Street Paddington $1,875,000
41 Fletcher Street Woollahra $2,200,000
1/9-11 Rosemont Avenue Woollahra $2,900,000
83 Darley Road Randwick $3,325,000
90 Holdsworth Street Woollahra Undisclosed
- Bob Guth


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