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SSC Newspaper : April 2013
By Steve Devine March saw the end of another season of the hit TV program The Block, and what an exciting season it was. If you were one of the 2 million viewers who tuned in to the final night (the auction climax), you would have witnessed firsthand the emotional highs and lows of both buying and selling. For all intents and purposes the auctions were an outstanding success and the results certainly echoed the sentiment I expressed in last month’s Strathfield Scene article, when I commented that the market has been showing very healthy growth in the past few months. Evidence of this was the fact that The Block’s four Bondi auctions resulted in a combined sales value in excess of $810,000 above the set reser ves. The good news is that the strength of the market isn’t isolated to Sydney’s Eastern suburbs. Strathfield’s Super Saturday auction day (held the Saturday before Easter), resulted in eight sales totalling more than $13 million. Two of the properties, 20 Homebush Road and 12 Newton Road, sold collectively for in excess of $1 million above reserve. I haven’t seen such consistently strong bidding for more than a decade. What is particularly encouraging for Strathfield is the strength in the sales at the higher end of the market, with more houses selling in Strathfield in the $2-million-plus range than at any other time. Things are definitely looking up. Confidence, which has been somewhat lacking for many years, appears to have returned to the market. Given the prolonged flat market we’ve been experiencing until recent months, I predict we will see property prices in Strathfield continue to grow for some time to come. It appears the market bottomed out some six months ago, so I would not be leaving your decision to purchase any longer than is necessary. With such close proximity to the city, top-class schools and first-rate facilities, there’s no doubt Strathfield is a desirable location, and buyers are telling us they agree. Strathfield Scene 23 property THINK REAL ESTATE THINK DEVINE Buying, Selling or Renting? For outstanding results and service, tel: 8080 SELL (7355) devinere.com.au STRATHFIELD | CONCORD | DRUMMOYNE QWhy should I get landlord insurance? As a landlord, there are some risks that are beyond your control and unforeseen circumstances that may cause damage to your property. Your rental property may be one of the largest investments of your lifetime and often the four weeks bond is not enough to cover you when a tenant maliciously or unintentionally damages the property, or when a tenant defaults on their rental payments or when there are legal expenses incurred in taking action against a tenant. Apart from loss from legal expenses, damage and missed rent, one of the biggest additional benefits of having landlord insurance is the usual $20 million in liability most polices come with that provides you protection should injury occur to the tenant or visitors at your investment property. Strathfield’s $13 million Super Saturday 5 Cameron, St Strathfield, sold prior to auction.