This month’s Herron White Todd Month in Review tries to go a little deeper into the general property slogans that are easy to fall back on. Read the executive summary of the report that follows, then click on the image to access the full report.
If you would like to discuss, you can call Elkins Finance on 1300 355 467 or use the contact us form to request we contact you.
“There’s one thing we should all realise about property markets – they aren’t simple. Granted there’s things like ‘herd mentality’ and FOMO that make the art of predicting price movements a bit more comfortable, but the myriad of property types, price points and localities that combine under the single term ‘Local property market’ demand scrutiny. Giving a general capital gain growth rate for our cities may create a great sound bite, but anyone who studies real estate knows, not all property is playing at the same grade. Think about is – you can’t make it through a week without someone pontificating like a hillbilly Einstein, ‘Geez! Sydney’s property is getting real expensive!’. Frustrating because there’s tens of thousands of individual property transactions that actually go into making that one blanket statement. A billion synapses fired between buyers and sellers, with all the nuances of negotiation, all so someone can sum it up in a basic five-word statement. Wouldn’t it be nice to know exactly what markets are being describing when we hear these generalisations. A bit of knowledge, a broadening of our intelligence wouldn’t hurt. If nothing else, it’ll allow us to hold a few ears captive at the next family barbeque. Any Johnnie-cum-lately can say ‘Isn’t Melbourne having a cracking year’, but won’t you look like a clever-clogs with a statement about exactly where the big drivers are in the city and what price points put you among the players. They’ll be forming a circle around your fold out chair, passing you another cool beverage and hanging for your next piece of market intelligence. Knowing which sectors are firing in markets across the nation is also a highly valuable tool. Not only can you see where you have to compete most to land an investment, but it will signpost which sector might be the next to go. Is first homebuyer activity picking up? Might be that second homebuyers are about to start showing their enthusiasm because they’re getting extra dollars from selling. Given how important this knowledge is, we asked our lasses and lads to tell us the good stuff about which markets sector are running red hot right now. They’ve scoured their hometowns to see exactly where buyers are raising their hands en-masse to score themselves bricks and mortar. Not to be outdone in the knowledge departments, our commercial team has come together to tell you all about the Office market – or, more specifically, office development and construction around Oz. Here is your instruction manual on where new buildings for office workers are going up in each and every market. Both the interesting projects underway, and refurbishments. There’s also an office market sector rundown as well as a few opportunities highlighted throughout these pages. So dig in an see where the smokin’ hot sector are sitting in each and every Australian location. “