by clicking the arrows at the side of the page, or by using the toolbar.
by clicking anywhere on the page.
by dragging the page around when zoomed in.
by clicking anywhere on the page when zoomed in.
web sites or send emails by clicking on hyperlinks.
Email this page to a friend
Search this issue
Index - jump to page or section
Archive - view past issues
SSC Newspaper : Strathfield Scene December
Confidence despite price drop in the year ahead By Anne Lampe The predictions for the coming year were downbeat but not gloom and doom when the Scene asked some of our local real estate agents what might be in store for the housing market in 2011. Stephen Devine of Devine Real Estate was upbeat about the market in 2011. “I’m very confident that housing prices in the area will hold up and increase. The housing market has always been very strong in Strathfield,” he said. “Going right back to 1955 when we started, prices have gone up by an average of 9 per cent per annum. Interest rate rises have already been factored into the market. “Most interest is coming from the low end of the second home market in the $800,000 to $1.2 million price range. People buying second homes, mostly couples wanting more space. They now have kids and they want to stretch their legs.” Devine said that investors were also a significant part of the market. “Unit prices are holding strong and 50 per cent of the sales are to investors,” he said. Devine said that confidence in the market had grown because unemployment was low and the high Australian dollar may have some effect on the top end of the market because expatriates were biding their time. Sales manager of Raine and Horne David Porcellato said higher interest rates would certainly have an impact on sales. “It’s hard to predict but my opinion is that sales may come down by 5 per cent because of interest rate rises,” he said. “Most buyer interest is in the mid range the $500,000 to $700,000 range ... it has slowed down in the $900,000 to $1.3 million range, and I can’t see it moving for two years. “Lot of overseas buying has been slowed down by a government policy which requires overseas investors to sell when they leave the country. Porcellato said prices have dropped by more than 1 per cent and that he had noticed the impact of interest rates around Concord. “I can’t see it improving for the next three to five years,” he said. “Interest rates are now nearing 8 per cent and when things start moving (in the real estate market) the Reserve Bank will raise rates again. “Rents will go up as a result.” Strathfield Scene 19 property www.ourstrathfield.com.au Properties in the Golden Mile are very tightly held ... because there are so many good schools in the area and people tend to stay for a while.” Richard Baini, Begetis. house of the month A Spanish-style architectural theme with graceful archways, interior wood trims and a Mediterranean-white exterior adorns this brick home which is on the market in Strathfield. The sprawling property at 27 Cotswold Street, is in the heart of Strathfield’s sought-after Golden Mile. It reflects the influence of the American-Spanish style homes which have become popular in Australia since the 1930s. This property includes some of the hallmark features of this style, thick walls for coolness, large windows and porches which surround and shade the house. Real estate agent Richard Baini says it is not often properties like this come on the market. “Properties in the Golden Mile are very tightly held,” he said. “ That is because there are so many good schools in the area and people tend to stay for a while.” The home has four large bedrooms and an office area as well as three bathrooms, formal lounge and dining area. It is air-conditioned and has ceiling fans. Also included in the 835 square metre block are landscaped gardens, a swimming pool, a Granny flat and parking for four vehicles. Open for inspection Saturdays 1pm to 1.45pm. Auction Saturday 18 December 12.30pm. For details call Richard Baini at Begetis on 0438 389 333 or 1300 738 705.