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Has Your Investment Has Your Investment Property Been Property Been Abandoned?Abandoned?

Does ‘green’ add value?Does ‘green’ add value?The Property Council of Australia’s The Property Council of Australia’s response response

PROPERTY REMAINS A SURE BETPROPERTY REMAINS A SURE BET

Nerang A U G U S T 2 0 1 0

Slow and steady can win Slow and steady can win the race!the race!

What happens next!What happens next!

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As property punters across Australia hedge their bets both ways, Mike Gray, Principal of First National Nerang is bringing some much needed clarity, predicting property prices’ growth will slow but that the market will remain buoyant despite ongoing uncertainty and increased consumer nervousness.

Mike remains optimistic saying there remains plenty of opportunities for buyers and sellers, but cautions that banks need to adopt a responsible approach to future interest rates.

“On average, I expect property prices to continue slowly rising for the remainder of 2010 as ongoing supply shortages keep the pressure on, driving prices upwards, as outlined in the First National Real Estate’s 2010 Mid Year Update released this week,” Mike said.

“The market has become very erratic given the current market conditions and volatile European economies, but the increasing supply versus demand issue will continue to dog the industry.

“As long as demand outstrips supply, the market will remain competitive and

PROPERTY REMAINS A SURE BET

thereby force prices up.

“While interest rates may impact on affordability if they continue to rise, and nervousness about the European economies may adversely impact upon consumer confi dence, the reality is there are more buyers out there than available stock and that produces a competitive market.”

Mike says house prices represent the most polarising debate for the property market for the remainder of 2010.

Some commentators are predicting a property bubble and are waiting for it to burst, while others say that periods of rising interest rates often result in accelerated or steady house price infl ation.

“Regardless of which way house prices go, there is opportunity for buyers and investors alike, depending on their individual circumstances,” Mike said.

“The one thing I am sure of is that property will continue to represent great value in the coming six months.”

House prices are predicted to continue increasing by up to 10 per cent by the end of the year according

to 70 per cent of First National members surveyed recently, along with strata property prices and land prices.

It is predicted rental vacancy rates may reduce slightly over the second half, and so ease pent up demand, while rental rates are predicted to increase, making it potentially just as diffi cult for renters to get into appropriate accommodation.

“Our survey showed 65 per cent of our agents saw vacancy rates decrease mostly by up to 5 per cent, and this trend is predicted to continue into the back end of the year, with 70 per cent of our members predicting further declines,” Mike said.

“Investor activity is expected to increase by up to 5 per cent by 43 per cent of our survey respondents, by between 10 and 20 per cent by 45 per cent of our survey respondents and by more than 20 per cent by around 11 per cent of our survey respondents.”

Just over 67 per cent of our members responding to the survey agreed with recent reports that there is a trend that more Gen Xers and Baby Boomers are opting to stay in their homes, making it even harder for Gen Yers to get into the property market.

Congratulations to Lisa Gilmer, our July winner of the $100 voucher. To win, Rebecca answered 3 riddles to be in the draw. Turn to page 4 to for this months brain teasers - and win!

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ANALYSIS OR SCAREMONGERING? First National Real Estate Nerang Principal, Mike Gray, is calling for scaremongering real estate analysts to be held accountable, after predicting a ‘housing bubble burst’ or ‘affordability crisis’, amidst claims Australia has the most overpriced property in the world.

“These types of claims are incredibly frustrating when you know they are based on a lack of understanding of the complexities and dynamics of the Australian property market,” Mike said.

“The reality is that we probably have one of the best buyers’ markets at the moment and houses at some of the most affordable levels in decades. Strong population growth is driving demand, and a crucial undersupply of stock is putting a fl oor under house prices.”

According to Mike, the market is already softening, with the slowing of house price increases creating some real opportunities for bargain hunters, fi rst time buyers and investors.

“In our recent 2010 Property Outlook Mid-Year Update, we highlighted Australia’s leading mortgage aggregator’s fi gures which show almost 40 per cent of loans drawn in April were to investors - the highest number recorded,” Mike said.

While it is true that immigration levels, the highest since World War II, are generating signifi cant demand for housing, much of this debate is overheated by the political agenda.

“But what no one is talking about is the fact that Government is one of the major barriers to increasing supply of housing. Ineffectual planning and approvals processes are the major barriers to increasing supply, so it is Governments that will continue to drive the market into the future,” Mike said.

“Compounding all this is the Prime Minister’s comments that she no longer supports a ‘Big Australia’, but a ‘Sustainable Australia’ which can only beg the question ‘does that mean you are going to

lower immigration levels’, which will impact signifi cantly on the Australian property market.

“When it comes to price trends, they correlate more with the level of public confi dence than the level of interest rates, which can have a positive infl uence on confi dence as they are a sign of an improving economy.

“Price growth revived late last year, along with confi dence, as emphasis shifted

to news of recovery, falling rates of

unemployment and a resurgent

resources sector, all factors unique to the

Australian market.”

Mike said while he supported ‘free speech’, analysts needed to be responsible and look at all sides of the story when making pronouncements about the property market.

3

Did you know...?

First National Nerang is the REIA

(Real Estate Institute of Australia) 2010 Australian Residential Agency of the Year in the medium offi ce

size category.

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Give me food, and I will live; give me water, and I will die. What am I?

To be in with a chance just answer any one of the following Brain Teasers correctly. For every correct answer you will have one chance in the draw. Submit your answers at http://blog.nfn.com.au

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Does ‘green’ add value?

As concern perpetuates regarding the impact of climate change there is a growing shift in social consciousness and government policy towards the adoption of more environmentally sustainable practices and lifestyles.

The contentious topic has swept the globe with many countries establishing regulations to reduce energy emissions. In Australia we are witnessing the emergence of new regulatory policy to develop and enforce national housing energy effi ciency standards.

Introduced in 2005, it is now mandatory for all new residential houses and apartments to comply with a 5 star energy rating.

The national energy effi ciency standard, while still relatively fl exible, is aimed at reducing household energy emissions which result in the generation

of an estimated 14 tonnes of green house gases by the average Australian household each year.

Daily household activities such as heating and

cooling, lighting and the use of major appliances are all large contributors to the production of greenhouse gases.

To address the issue, the Australian government launched the Green Loans Program, a nationwide program to assess the sustainability of existing residential homes. The free service involves the review of a property by a qualifi ed assessor who provides an assessment of a household’s water and energy use and develops strategies for how the rating can be improved. As part of the Green Loans Program approved applicants are also eligible to receive a $10,000 loan with no interest for a period of up to 4 years, to purchase such ‘green’ technologies as water tanks, insulation and solar hot water systems, with the intention of reducing green house gas emissions and water consumption.

Furthermore, on January 1st 2010 the Queensland Government introduced a new regulation that

requires sellers of residential property to complete and supply a Sustainability Declaration – a two page form which assesses the energy, water, safety and access aspects of a property.

This move follows the mandatory disclosure of energy consumption by sellers of residential property in the ACT, established since 1999.

But as similar regulations are introduced in other states how will property values be affected? Does subscription to sustainable trends really save you money and add value to a property? According to an independent study commissioned in 2005 by the Department of Environment, Water, Heritage and the Arts (DEWHA), real estate in Australia’s Capital Territory demonstrated a notable correlation between the energy effi ciency rating of a house and its value.

While the trend towards sustainable housing is still relatively new, the link between a property’s energy rating and its value will only increase as knowledge and adoption of ‘green’ initiatives grows.

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Pssssst... Here’s a good tip for buyers, sellers and investors...

An easy way to stay “in tune” with the value of your home and the local property market is the Weekly Property Bulletin and - it’s FREE. It’s an easy to read email detailing everything that’s just listed, just sold, price changes, open homes, for rental and news articles all with quality photos and descriptions. Join thousands of property owners, investors, buyers and sellers that use the Property Bulletin to keep their “fi nger on the pulse” of the local market. Simply call us on 0755960055 or email [email protected] and ask to receive the Weekly Property Bulletin.

Has Your Investment Property Been Abandoned?One set of circumstances that property managers and self-managed property investors may encounter is the property that has been abandoned by a tenant.Dealing with a property that has had the tenants leave without notice can be very diffi cult, but it must be noted here that in dealing with this situation property managers must take the right steps legally so that there is not problems at a later date.How to tell if a tenant has abandoned a property1. The tenant cannot be

contacted by phone – the phone or phones have been disconnected

2. The property looks to be in a state of disrepair

3. The rent is in arrearsAbandoned propertyCheck with the laws in the state where the problem arises, but for instance in Queensland this is the procedure:• The normal 24 hour notice

needs to be given to enter the property

• Once the property has been inspected by the property manager and reasonable doubt exists as to whether the property has been abandoned a Form 15 Abandonment Termination Notice must be issued or an application can be made to the Queensland Civil and Administrative Tribunal (QCAT) for the premises to be declared abandoned

• If the Form 15 is issued then 7 days must elapse for the tenant to dispute the notice

Abandoned ChattelsIf a tenant has abandoned the property and has left chattels at the property care needs to be taken to see that the correct steps are taken in dealing with the property. • If there are personal

documents they must be returned to the tenant within 7 days

• If the tenant cannot be contacted then the personal documents must be handed over to the Public Trustee with 7 days

• Goods up to the value of $1500 that are unsafe to keep or store or would not cover the cost of moving and storage can be disposed of

• Contacting a second-hand dealer for an inventory and valuation would be the best way to deal with this situation

• Goods that do not meet with this criteria should be stored by the property manager for at least one month and then using the proper procedure the goods can be auctioned

• Proceeds of the sale can be used to cover any costs of sale and storage, but any excess funds recovered must be paid to the Public Trustee within 10 days of the auction date

In all cases it is imperative that good detailed paperwork be kept. The tenant will have certain rights and they must also go through the right channels to lodge any objection.

Did you know...?

Australia wide, there are close to 500 First National Offi ces and that

First National Nerang is offi cially the

2010 Number ONE offi ce in Queensland

Office 55 960055quick search these properties and more at www.nfn.com.au

Nerang

Every precaution has been taken to establish the accuracy of the above information but does not constitute any representation by the vendor or agent.

2010 Australian Agency of the YearMedium Residential Agency

Price: From $268,000Contact: The sales team 07 5596 0055

Various Building BlocksBuild the home of your dreams on one of our many vacant lots for sale.Lots vary from residential sites, prestige lots with coastal views to private acreage lots. What are you waiting for? Call now!

VACANT LAND 0 0 0

Price: $249,000Web ID: 1284648 Contact: Andrew Davidson 0411 760 600

Neat As A Pin• Two bedrooms• Large open plan living• LU garage• Private paved courtyard• Reasonable body corp • Pool in the complex

• Close to rail link, buses and the M1, perfect the busy commuter!

NERANG 2 1 1

Price: $285,000Web ID: 1405987 Contact: Susie Gale 0406 901 350

Private, Trendy Townhouse• Three bedrooms• Spacious open plan living area• Timber laminate fl ooring• Covered & enclosed patio area• Lockup garage plus parking bay• Friendly, quiet complex with pool

and tennis court• Potential rent return of

$300-$350pw

HIGHLAND PARK 3 1 1

Price: $299,000Web ID: 1401765 Contact: Shawn Barber 0404 257 243

Super Neat Lowset Villa• Three bedroom villa• Open plan living• New fl oors & lighting • Modern kitchen• Single garage plus parking bay• Well maintained complex with

pool and BBQ area • Close to parkland, station and

bus transit centre.

NERANG 3 1 1


Pick Of The Bunch!• Three bedrooms, ensuite • Tiled open plan living and dining• Terrifi c modern kitchen• Air conditioning• Private fenced courtyard• Well managed secure complex

• Lockup garage plus plenty of visitor parking

CARRARA 3 2 1

Price: $349,000Web ID: 1354574 Contact: Steven Hayes 0421 643 871

Price Slashed - MUST SELL• Three bedrooms• Separate lounge and dining areas• Air conditioning• Spacious fully fenced backyard• Pet friendly• Big timber entertaining deck

• Garage converted to rumpus• Close to everything including

riverside

NERANG 3 1 1


Nerang



Price: $359,000Web ID: 1405592 Contact: Julie Morgan-Kemp 0409 870 301

Its PERFECT in Every Way!• Three bedrooms• Tiled open plan design• Lovely modern kitchen• Vacu-maid system• Air conditioning and full insulation• Long covered outdoor living area

• Terrifi c fully fenced backyard• Auto lockup garage• Backs to parkland for added privacy

NERANG 3 1 1


Smart Starter!• Three bedrooms• Walk in robe and open ensuite

to master• Open plan living and dining• Modern kitchen with dishwasher• Timber laminate fl ooring

• Air conditioning• Covered outdoor living area• Loads of off road parking

WORONGARY 3 2 -


Touch Up and Save!• Three bedrooms• Separate lounge and dining areas• Air conditioning• Timber fl ooring• Rear deck with shade sail• Large fully fenced backyard

• Double garage with big workshop • Close to shops, schools and bus stop

NERANG 3 1 2


Get in Before the Bank!• 4559m2 vacant building block• Amazing panoramic views over

the coast• Underground power, water and

phone• Large cut pad

• Driveway has been cut• Cul-de sac position surrounded

by quality homes

TALLAI 0 0 0


Aaaah, Fresh Mountain Air• Three bedrooms, ensuite• Separate sauna with shower• Spacious open plan design• Terrifi c modern kitchen• Air conditioning• Long covered patio & BBQ hut

• 1148m2 lot, backs to private acreage• Lockup garage, shade sail parking plus

additional off road parking bay

BEECHMONT 3 2 2


HOT Property, Cool Price!• Three good sized bedrooms• Open plan lounge & dining area

with bay window• Air conditioning• Big open yard with a great cubby

house for the kids

• Long covered outdoor living area

• Extra large auto lockup garage

HIGHLAND PARK 3 1 1


Nerang




Down by the Riverside!• 4 bedrooms; ensuite to master• Separate lounge and family areas• Neat and tidy kitchen with

dishwasher• Air conditioning• Large covered pergola

• Terrifi c fl at, fully fenced yard backing to river

• Double lockup garage

NERANG 4 2 2


Private and Central!• 4 bedrooms plus ensuite• Massive open plan living• Separate living areas• Tall airy 9ft ceilings • Covered outdoor living area• Excellent level fully fenced yard

• Double lockup garage• Minutes to schools, shops and

buses

NERANG 4 2 2


Green Garden Wonderland• 4 bedrooms plus ensuite• Separate living areas• Big kitchen with dishwasher• Air conditioning• Massive covered entertaining area• Wrap around verandahs

• Stunning manicured grounds• Level lot backing to parkland• Double garage plus 2 street access

CLEARVIEW / NERANG 4 2 2

Price: $395,000 - $419,000 Web ID: 1393053 Contact: Julie Morgan-Kemp 0409 870 301

Position and Potential• Three bedrooms• Open plan living and dining• Air conditioning• Terrifi c covered rear timber deck• Inground pool with water feature• Side access to shed with power

• Double garage with workspace • Great location backing to park &

walking distance to shops

NERANG 3 1 4


The Best of Both Worlds!• Three bedrooms, ensuite• Spacious tiled open plan living• Terrifi c modern kitchen• Air conditioning• Private courtyard with covered

patio area

• Auto double lockup garage• Close to riverside parkland and

handy to Nerang Train Station

NERANG 3 2 2


Backs to Acres of Parkland!• Cavity brick construction• Three bedrooms, ensuite• Separate living areas• Air conditioning• Rear covered patio area• Level block backing to parkland

• Double LU garage with bathroom• Highly sought after street close to

Nerang CBD

NERANG 3 3 2


Nerang



Price: $469,000Web ID: 1369278 Contact: Paul Moitzi 0423 589 958

Big Home, Small Price• 4 double bedrooms plus ensuite• Loft style offi ce plus study• Spacious formal lounge• Huge kitchen with walk in pantry• Huge informal living area • Media room plus separate bar

• Private inground pool area• Double auto lockup garage• 855m2 fully fenced lot

NERANG 4 2 2


A Delightful Surprise• Three bedrooms, ensuite • Separate living areas• Lovely open plan kitchen• Ducted air conditioning• Covered outdoor living area• Quiet low traffi c cul de sac

• Double LU garage, 9mx7.5m workshed with double carport plus side access

HIGHLAND PARK 3 2 6

Web ID: 1398099 Contact: Shawn Barber 0404 257 243

Renovated Liquidation• Three bedrooms, ensuite• Main bathroom with spa bath,

additional external bathroom• Open plan tiled living and dining• Modern new kitchen• Air conditioning

• Double garage with workshop• Minutes to Surfers Paradise and

Southport CBD

BUNDALL 3 3 2


Looking for New in Nerang?• Four bedrooms, ensuite • Separate big living areas• Gorgeous kitchen with European

appliances• 45m2 covered outdoor living area• Double auto lockup garage

• Side access to a 4.5 x 7.5m shed• Landscaped lot backing to reserve• Hinterland views

NERANG 4 2 3


Beautiful Country Homestead• 2.5 acres of stunning usable land • Four bedrooms, ensuite• Separate spacious living areas• Air con & combustion fi replace• Stunning modern kitchen• Covered outdoor living area

• Inground pool with spa• 2 bay shed plus double carport• Multiple paddocks, 2 dams

WITHEREN 4 2 4

Price: $569,000 negWeb ID: 1288310 Contact: The Sales Team 07 5596 0055

One Of A Kind Acreage!• 2.15 acre premier hilltop position• Level to gently sloping• 100% usable and cleared• Panoramic views to the Gold

Coast and the Great Dividing Ranges - can never be built out

• Ideal to build a massive home• Deep rich soil and fully fenced• Close to shops & cafes

LOWER BEECHMONT - - -


Nerang



Price: offers over $570,000Web ID: 1363871 Contact: Julie Morgan-Kemp 0409 870 301

Acreage - Needs Urgent Sale!• Expansive 4 bedroom home• Ensuite with spa bath to master• Spacious separate living areas • Air conditioning & fi replace• Large kitchen with gas cooking • Massive covered entertaining area

• Very private inground pool• Elevated 2005m2 lot• Double garage

MOUNT NATHAN 4 2 2


One with Nature• 3 bedrooms, ensuite to master• Open plan design with tall raked

timber ceilings• Stunning ultra modern kitchen• Timber fl ooring to living areas• Bi-fold doors to the covered

outdoor living area• Off road parking for 10 cars• 8588m2 lot with native gardens

NERANG 3 2 -


Private Acreage Hideaway• Four large bedrooms, ensuite • Ultra modern kitchen• Polished timber fl ooring• Massive open plan living• Air conditioning• Wide poolside timber deck

• Double garage PLUS 2 bay shed• 4000m2 landscaped and super

private lot

MOUNT NATHAN 4 2 4


Affordable Country Living• 7.5 acre lot with 2 street access • Three bedrooms, ensuite• Spacious lounge, separate rumpus • Modern open plan kitchen• Recycled hardwood fl oors• Ducted air conditioning

• Short ride to horse arena and various trails

• 9 x 6m two bay shed with power

ADVANCETOWN 3 2 2

Price: offers over $679,000Web ID: 1324066 Contact: Julie Morgan-Kemp 0409 870 301

Acreage - Hot To Sell!• Owner wants all offers• 4010m2 landscaped lot• 4 bedrooms, offi ce & ensuite• Separate living areas • Huge covered entertaining area• Inground pool with decking

• Double garage plus side access to a 2 bay shed

• 5 mins to Nerang & Oxenford

MAUDSLAND 4 2 4

Price: $699-729,000Web ID: 1353075 Contact: Steve 0421 643 871 Julie 0409 870 301

OWNER INSTRUCTS - SELL!!• Four bedrooms plus ensuite• Self contained studio apartment • Spacious lounge room• Stunning polished timber fl oors• Lovely country kitchen• Separate big offi ce

• Inground salt pool and spa• Massive 6x9m shed with power• Massive 3.99 hectare lot

GILSTON 4 3 2


Nerang




Private Family Acreage• 5200m2 landscaped lot• 4 bedrooms, ensuite to master • Formal lounge and dining room• Open plan family and meals area• Terrifi c big modern kitchen• Beautiful private inground pool

• Big 2 bay steel workshed with car hoist and added shade sail parking

WORONGARY 4 2 4

Price: $749,000Web ID: 1382111 Contact: Julie 0409 870 301 Paul 0423 589 958

Must Be Sold... Yesterday!• 280 degree breathtaking Gold

Coast and Hinterland views• Four queen bedrooms, ensuite• Expansive open living & balcony

areas over 2 levels• Huge modern kitchen

• Salt water pool with Fijian shellstone surrounds

• Double garage plus parking bay

HIGHLAND PARK 4 2 2


Huge Country Home!• Five big bedrooms plus study• Massive open fl oorplan with 3

distinct living areas• Separate kids rumpus room• Huge gourmet kitchen • Ducted air conditioning

• Covered outdoor living area• Big 2 bay shed, carport, double garage• 3072m2 lawned and landscaped lot

MOUNT NATHAN 5 2 5


Quality Acreage Lifestyle• 4 double bedrooms, ensuite• Formal lounge opening out to a

expansive outdoor living area• Separate family and meals area• Modern country kitchen• Double auto garage, 2 bay shed

• Shady wrap around verandahs• Town and tank water• 4331m2 lot, fully fenced

GILSTON 4 2 4


Location, Size & Views• 5 large bedrooms over 2 levels• 3 ensuites, 1 two way and 1 main• Large games room with wet bar/

kitchenette for dual living• Open plan main living area• Vaccu-maid and ducted air con

• Large covered view fi lled deck overlooking the pool

• Double lockup garage

HIGHLAND PARK 5 5 2

Price: $1,800,000Web ID: 1401369 Contact: Steven Hayes 0421 643 871

8.5 Acres of Elegance• 4 double bedrooms; ensuite• Ensuite plus 2 main bathrooms• Amazing big designer kitchen• Enormous open fl oorplan • Triple garage, 2 bay workshop• Town & fi ltered tank water

• IG pool with mountain views• 8.39 acres, 2 dams, spelling yards,

paddocks, horse arena & more

MOUNT NATHAN 4 3 5

Market UpdateWhat’s the right price for property?

It’s one of those clichés you’ll often hear in real estate ... properties that are priced appropriately are selling. It seems so obvious, really. When you’re making such a big investment surely you’d only do it at the right price? But of course buying houses is emotional and there’s so much more that goes into it than rational thinking about whether it is money well spent. It could be the look and feel, the layout, or the location that sways one buyer to pay a whole lot more than the rest.

If you want to look at how complicated human decision-making is just look at how we pick which political parties will win government. Now that there’s a federal election looming, we’ll all have more than enough opportunity to gawk from the sidelines as votes are won or lost on looks, tone, sound, hair colour, and a little bit of policy, real or perceived.

Nevertheless, when it comes to houses, a lot of real estate agents are saying that buyers are being a lot more careful, and really weighing up where to put their dollars. Less competition from other buyers is providing house hunters with more choices, and they’re taking their time, choosing wisely, and demanding properties are up to scratch.

Agents are saying many vendors are yet to catch up with the swift market cooling of the last couple of months and want higher prices than buyers are prepared to fork out.

I saw a great example of the old price-is-right mantra this week when I spied a sandstone home for sale. Double fronted, it looked like the perfect family pad - except that its immediate

neighbour was the car park of a sex shop, and only four doors down, across the road, was a train line. Oh and it had a pretty busy road a few doors the other way.

It could have easily been a house that

languished on the market while the vendor held out hoping that the prestige of the neighbourhood that it bordered might rub off. But the vendor was either in a hurry to sell or had a good sense of where the market was at because the home was priced at about $200,000 less than comparable places just a few streets away. On the fi rst open there was a surprising buzz – not quite a swarm – but a healthy hum of activity from house hunters. And less than a week later, a big SOLD sign was slapped up out the front.

Part of the problem for vendors is the market has been moving so fast lately that it’s hard to keep up. One moment it’s hot and the next it’s not. In pockets

there’s still plenty of buying action, for example one Sydney agent says she had 53 people inspect a property in the trendy inner west over the weekend. But in others, real estate agents are ringing around trying to drum up interest.

When you’re selling working out what price you should go for is hard. But just as house hunters are told to fi nd up to a dozen recent comparable sales when they are researching a house’s value, vendors can do that too. The advice for house hunters is to look at the prices places nearby have sold for in the last six months, being careful to compare apples with apples by fi nding properties that have similar land size, bedroom numbers, layouts and car parking. Sales in the last three months are particularly telling.

If you’re a vendor and you want to fi nd out where the buyers’ thinking is in terms of money, you’d do well to do that research. That way you will fi nd out which direction the market is going in your area, and will be using the same pricing method as your buyers. Of course, if you decide your home has special features and it’s worth holding out for a better price, you might just be lucky – after all spring is just around the corner and the warmer weather brings out the buyers.

Written by Carolyn Boydsource: http://bit.ly/9kj8ir

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