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 : December 2013
By Steve Devine The Inner West real estate market has certainly been the hot topic of discussion recently. Whether I’ve been at a business function, a dinner party, a BBQ or standing on the sidelines at the kids’ netball and soccer games, everyone has been asking me the same thing: “How long can this go on?”. There’s no doubt that the incredible resurgence of prices throughout 2013 has left many questioning whether this is another real estate ‘bubble’ about to burst, or if this is just the market returning to normal conditions. Looking into my crystal ball for 2014, I believe property prices will continue to grow; at least for the first half of next year. As mentioned in previous editions of Strathfield Scene, there has been a prolonged period of stagnation in the past decade, and what we are currently experiencing is merely a cyclical adjustment. The ingredients for this have included the lowest interest rates in more than five decades, an excess of pent-up demand and the return of consumer confidence to the marketplace. Strathfield and surrounds are among the most convenient suburbs in Sydney, and it is these areas that have experienced some of the strongest growth in Australia throughout the past 12 months. Other factors that will significantly affect prices will be the direction of the Australian dollar and what continued impact that will have from foreign investment into our local market. Should the dollar fall, it is likely that more money from overseas, in particular Asia, will be attracted to the relatively high yields on offer. However, by far the greatest impact of the market throughout 2014 will be the direction of interest rates. There have been mixed signals on this issue. My next comment may astound some, but I hope the next direction the RBA takes is to adjust the cash rate upwards. This will stabilise what can be described as an over-heated market. This short-term pain could help prevent some buyers getting burned through over-inflated prices should the market turn. On the contrary, should interest rates fall, I fear that prices will continue to rise at arguably unsustainable rates. Consideration should be given to the fact that over generations, real estate has proven to be a long-term investment that seems to weather most financial storms. If you’re looking to invest in either a new family home, or you’re keen to add to your investment portfolio; make sure you seek independent advice that pertains to your personal circumstances. Once you’ve been given the green light, then press the GO button on your next Strathfield purchase... I would be confident that Strathfield and the surrounding suburbs will continue to be a very stable place to live and invest in the long term. Wishing you all the best for the festive season and I’ll look forward to keeping you updated on the real estate market in 2014. Strathfield Scene 23 PROPERTY FESTIVE THINK FESTIVE To Our Clients and Friends May the joys of the Holiday Season be with you now and throughout the New Year Merry Christmas from the Devine Team QI own an investment property and I have been asked to register the pool with our local council. Is this compulsory as my tenants do not have children? Yes, this is compulsory. Legislation states that all pools in NSW must be registered with the local council. Registration is free and can be done online at www.swimmingpoolregister.nsw.gov.au . If your pool was not registered by 16 November 2013, fines of $220 or more could apply and, if the case is referred to court, the fine could rise to $2200. If your tenant decides to renew the lease agreement or your property is re-advertised any time after the 29 April, 2014, you will be required to attach a pool compliance certificate to the lease agreement. If you decide to sell, you will also be required to attach the compliance certificate to the sales contract. QI vacated a property which I had leased for 6 months. The agent confirmed the carpets were clean at the final inspection but said it was procedure to have the carpets steam-cleaned every time a tenant vacates. Is this true? No, this is not correct. The legislation states that the tenant is only required to professionally clean the carpets if they are deemed ‘dirty’ at the end of the tenancy. The Renting Services can assist you with disputing this. Crystal ball predicts further price rises