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  • First National Real Estate Australia - First National Real Estate Media Releases
    First National Real Estate Media Releases First National Real Estate sponsors Perth Wildcats NBL basketball team Australia s largest independent real estate network First National Real Estate is proud to announce its official naming rights sponsorship of Western Australia s National Basketball League NBL team Perth Wildcats The one year sponsorship agreement will see the multi championship winning Wildcats helping First National Real Estate provide professional development to their team of more than 350 staff across the 25 West Australian First National offices This substantial six figure sponsorship will provide First National with prominent logo positioning on the coaching and support staff apparel game night venue signage access to Wildcat players for professional development as well as a range of other marketing and promotional opportunities throughout the season Chairman of First National Real Estate in West Australia Mr Cambell Giles said As with the Wildcats our agents train hard to remain at the forefront in real estate and as a result of our sponsorship our salespeople property managers and administrators will gain access to the Wildcats head coach Rob Beveridge for training and inspiration Perth Wildcats managing director Nick Marvin commented on the partnership saying it was a great union of two organisations that work in the community in a very real way First National s sponsorship of our coaches is a significant investment in the development of basketball talent at all levels in Western Australia We hope we can reciprocate through increased branding visibility and sharing of successful practices and insights from the court The Perth Wildcats first home game of the 2012 13 NBL season is scheduled at the new Perth Arena against arch rivals Adelaide 36ers on Friday November 16 copy ends Issued by First National Real Estate For further information Cambell Giles Western Australia Chairman First

    Original URL path: http://www.firstnational.com.au/?pageCall=misc&pageMode=realestatenews_article&contentID=104642 (2013-02-03)
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  • First National Real Estate Australia - First National Real Estate Media Releases
    produces larger numbers of people looking to change where they live Investors need to make sure their rental properties are in ship shape if they want to attract quality tenants and maximise their returns Mr Bunn said It also helps to appoint a property manager who knows how maintain the property s tenancy at the highest possible rent and who will manage the home as though it were their own Mr Bunn said First National Real Estate offers the ideal combination of professionalism experience and commitment to manage properties Our systems and processes underpin the strength of our agency and the property management services we deliver Mr Bunn said Property management at First National is more than just collecting rent or striking a deal on fees we assist in the selection of quality tenants ensure timely rental payments look for opportunities to increase your returns and minimise vacancies We strive to help our landlords maximise the benefits of investment property ownership by using the latest technologies and pride ourselves on getting the best results in the shortest time According to Mr Bunn First National has 10 steps to success for property management Accurate appraisal of a property s rental potential Presenting the property in its best light to maximise returns Advertising and marketing to ensure maximum exposure through First National s industry leading website major real estate web portals eMagazines social media and the network s exclusive award winning tenant alert database Accompanied tenant viewings to highlight special features and benefits of renting a First National managed property Receiving offers and making the process as efficient as possible Tenant selection following comprehensive screening and reference checks Preparing relevant documentation and advising tenants of their obligations and outlining conduct expectations Completing a thorough property condition report prior to the tenant moving

    Original URL path: http://www.firstnational.com.au/?pageCall=misc&pageMode=realestatenews_article&contentID=104050 (2013-02-03)
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  • First National Real Estate Australia - First National Real Estate Media Releases
    Mr Stewart Bunn says recent research showed that 96 per cent of Australian pools take a dive in health during the cooler months leading to a build up of harmful bacteria which could affect the health of those swimming in it Untreated pools can cause real harm to family and friends with the increased levels of microorganisms algae and bacteria posing serious health risks like diarrhoea ear infections and eye and skin irritations Mr Bunn said Out of more than 1000 pool water samples recently taken across the country just four per cent of pools showed a healthy pH balance and only one in five were properly chlorinated Pool owners including tenants leasing properties with pools should take the time now to check their pools so that they can enjoy them safely throughout the warm summer months Mr Bunn said using the services of a professional technician such as the pool and spa care experts at PoolWerx to conduct regular water health and safety checks is sensible and frugal Expert services are far more affordable than it would be to seek help once the water has turned green from flourishing bacteria Mr Bunn said Not to mention the reduced emotional stress and costs associated with a loved one friend or tenant becoming sick through infected pool water First National Real Estate offers these top five tips for early season pool maintenance to ensure pools are healthy and ready for summer Check the pool equipment to ensure it is in property running order Ensure the pH level is within healthy levels Make sure chlorine levels are adequate to disinfect all microorganisms Vacuum and skim the pool regularly Organize a regular professional check up Now is also a good time to check the pool s compliance with state laws and regulations Mr

    Original URL path: http://www.firstnational.com.au/?pageCall=misc&pageMode=realestatenews_article&contentID=105181 (2013-02-03)
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  • First National Real Estate Australia - First National Real Estate Media Releases
    Communications Manager Mr Stewart Bunn There is no doubt there are some great buying opportunities at the moment with low interest rates and steadying property prices but for some renovating may offer more benefits Mr Bunn said A granny flat extension or updating the home to the way you have always dreamed may be more cost effective and allow you to stay in the area you have come to love and appreciate Mr Bunn said there are myriad reasons why the current home may no longer be meeting the needs of the home owner including they need more space their circumstances have changed or they just want a change of scenery But whatever the reasons are the ongoing uncertainty in domestic and international economies may make renovating more attractive so my advice would be to weigh up the options make a list of pro s and con s and look at what your future needs might be Mr Bunn said According to Mr Bunn the top things to consider are budget location time and space Budget there are inherently costs associated with both options Renovating is more susceptible to budget blowouts but the hidden and add on costs for buying a new home such as stamp duty conveyancing and removalists can make it much more expensive A careful and detailed budget plan will help you weigh up the costs involved in both options Location consider whether you want to continue living in the area or is there somewhere else you would prefer to call home Also take the neighbours into account For many relationships are forged with neighbours and it is important whether you stay or move that you can see yourself getting along with your neighbours Time what time constraints do you have Finding the right property that will suit all your current and future needs will take time as will renovating Often house hunters are required to compromise in some way but the home renovator should be able to do exactly as they set out to do and have had approved by the relevant authorities Space make sure there is enough room to make the improvements you want if you are looking to renovate If you are going to buy consider whether you will need to make any further alteration either now to ensure the new property can accommodate your current needs or some time in the future to adopt for your changing circumstances Asking an architect or builder to inspect the property with you can be of enormous benefit Also if you are looking at renovating it is easy to let emotions override practicalities so it is important to make sure you get the right advice to ensure you don t overcapitalise Mr Bunn warned A very basic rule of thumb when renovating is to never spend more than 25 per cent of the value of your home But before any final decision is made look at the real estate market and get an appraisal on your

    Original URL path: http://www.firstnational.com.au/?pageCall=misc&pageMode=realestatenews_article&contentID=103649 (2013-02-03)
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  • First National Real Estate Australia - First National Real Estate Media Releases
    Video Transcripts finance Get the Right Loan More About Tax Depreciation about us History How We Put You First Quality Assurance Real Estate First National Foundation Join First National Jobs Careers in Real Estate Energy Efficiency Real Estate on Facebook First National Competitions Competition Winners Contact Us First National Real Estate Media Releases First National grows market share First National Real Estate has grown its market share to third largest in Australia according to a recent IBISWorld Real Estate Agents in Australia report The report considers the industry s performance since the GFC and highlights the challenges major networks have faced in retaining or growing their memberships in recent years First National Real Estate is recognised by consumers as the innovator in Australian real estate brands Our membership is comprised of progressive agents who embrace change technology and the idea that success can only be achieved through the delivery of a quality customer experience said Chief Executive Ray Ellis Since 2005 the network s mantra we put you first has informed our reasoning in everything that we do and the message is cutting through Consumers know that our agents are working hard to deliver what they want when they want it while giving them more control First National has the systems brand and strategy to support its members with tools that engage community and deliver better customer outcomes As a result we are witnessing across the board market share growth copy ends Issued by First National Real Estate For further information Stewart Bunn National Communications Manager from First National Real Estate on 1800 032 332 28 September 2012 Twitter Auction Action more RSS Feed Get the latest news Click here for a direct feed of our latest news and updates more Twitter RealEstateCast more Facebook Latest Listed Properties unit in

    Original URL path: http://www.firstnational.com.au/?pageCall=misc&pageMode=realestatenews_article&contentID=103252 (2013-02-03)
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  • First National Real Estate Australia - First National Real Estate Media Releases
    Australia is prone to disasters of all kinds especially over the Summer and wet seasons which is why it is critical that people make the effort to protect what is probably the biggest financial commitment they make in their lives their homes National Communications Manager Stewart Bunn said Not to mention the emotional attachment they have developed for many of the personal and sentimental items housed inside As agents we see what home owners go through to purchase a home and we believe it is an essential that we involve ourselves in any means available to help them protect it Which is why we value our partnership with the Red Cross so much It affords us the opportunity to give back to the communities where we live and work as well as be involved in activities that can make a huge difference to our clients All our staff at First National Real Estate are being encouraged to review their own REDiplans and assist clients where they can to do the same during the national week This is exactly the type of thing the First National Foundation has been set up for To support communities across Australia where it is needed Mr Bunn said Preparedness Week is designed to focus attention on this piece of strategic asset protection planning which has the potential to affect all Australians Red Cross has made it easy with a range of resources built around helping people to be better prepared to reduce the impacts of an emergency such as bushfires flooding cyclones and hurricanes Despite so many large scale disasters in Australia in recent years people still believe it won t happen to them and a week like this brings home just how vulnerable everyone is Disasters don t discriminate and nor does First National

    Original URL path: http://www.firstnational.com.au/?pageCall=misc&pageMode=realestatenews_article&contentID=102929 (2013-02-03)
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  • First National Real Estate Australia - First National Real Estate Media Releases
    they are facing reducing government assistance Stewart Bunn National Communications Manager First National Real Estate offers some helpful advice for those entering the market saying research is critical As we predicted in our Property Market Outlook Mid Year Update the second half of 2012 is shaping up to see increased buyer activity and it seems that prime market conditions are proving irresistible for the first home buyer Mr Bunn said Improved affordability with low interest rates and relatively low property prices is serving to offset any negative impact where government incentives have been reduced And given it is currently a buyer s market it means first home buyers can take the time they need to do the research required to ensure they buy the best property they can for their hard earned dollars According to Mr Bunn first home buyers should keep in mind the following tips to maximise their chances of a successful outcome When Looking for a Property Set a price range and stick to it Identify a suburb with properties within your price range Consider geographical elements such as proximity to schools transport and amenities Take into account condition of the property does it need major repairs Do you have money in the budget Etc Before purchasing arrange for building and pest inspections by suitably qualified professionals such as builders surveyors or architects Have the contract reviewed by a conveyancer or solicitor Take your time until you find the right place for you there s no place like home and it should feel like it Look at as many properties in your price range as you can Saving for a Property getting together a deposit is all about discipline Put aside an emergency fund Take advantage of any government incentives such as the Federal Government s First Home Saver Account scheme and Grants Establish a budget work out what you spend where and when and then see where you can make savings Set a timeframe complete with milestones to keep you on track and you can monitor your progress This becomes a self motivational tool as well This will also help lending institutions determine what you can afford to pay back in monthly repayments Securing Your Finance do the research and understand all your options Don t get emotional There s always another property on the market Consider established versus new especially in terms of house and land packages which may be more financially viable when you look at all the costs involved versus grants available Factor in rates and maintenance costs as well as the mortgage When looking at home loans check the ongoing payments especially in the fine print for monthly service fees and other charges Paying the mortgage Make fortnightly payments which will save thousands on the mortgage Be prepared for monthly repayments to go up and down in response to rate fluctuations The last piece of advice but what I believe is the best is to seek the assistance of an expert who

    Original URL path: http://www.firstnational.com.au/?pageCall=misc&pageMode=realestatenews_article&contentID=102640 (2013-02-03)
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    prices and reduce consumer confidence P P Rural Regional Market P P Broadacre prices have decreased over the period 1 July 2011 to 30 November 2011 due to reduced buyer demand because of uncertainty of economic conditions and nervousness around job security P P Lifestyle properties in the New South Wales regional market are still performing quite well with the majority of members saying their prices were up mainly by around 10 per cent although some said they were as much as between 20 and 50 per cent up P P Commercial Market P P The New South Wales commercial property market is expected to be fairly steady in 2012 P P While current commercial property prices have remained relatively stable in 2011 rents have dropped by up to 10 per cent as a scarcity of bank financing and an uncertain economy drive businesses to try and maintain the status quo as much as possible P P There have been some small increases in vacancy rates which have led to rents dropping slightly in those areas P P In the coming 6 months the commercial property market in New South Wales is expected to stabilise nbsp While demand is low it will remain constant which means there is not a lot of room for movement in the market P P It is expected that current stocks where available will be leased but few new properties will come onto the market P P Lower interest rates which are expected to decrease in 2012 may encourage self managed super funds to consider commercial property as a means of building their retirement wealth P P New South Wales commercial property respondents said they believed the carbon tax would provide a good basis for change but qualified that by saying they believed the real energy efficiency changes would be made by individuals nbsp Many believed more practical solutions need to be sought at the commercial property owner level P P The greater proportion of New South Wales commercial property respondents said between 1 and 5 per cent of their customers sought energy efficient features when looking to purchase or lease a commercial property while others said it was between 5 and 10 per cent or more than 30 per cent of their customers P P The most popular energy efficient feature that New South Wales commercial property respondents identified as making a property more rentable was solar power the followed equally by motion sensor lights and the ability to open windows P P Most New South Wales commercial property members believed sales would decrease in the next 12 months due to ongoing uncertain economic conditions forcing businesses to leave the region or lack of available finance nbsp Any increases in sales would be due to the individual region s attractiveness for business operators P P In New South Wales our members said light industrial would be the commercial property sector with the most growth in 2012 followed by the office market and medical P P QUEENSLAND OUTLOOK P P The Queensland property market is showing lots of potential for 2012 with signs already that a slow recovery is underway P P In the last six months the market has been falling but this is expected to steady as we begin 2012 and the effects of the floods and cyclones wear off and interest rates reduce nbsp The mining sector will underpin activity in resource rich areas in 2012 but buyers in general will remain cautious due to uncertain economies both here and overseas P P Lower property prices and lower interest rates are increasing affordability nbsp Spirits have lifted state wide and with the announcement of the Commonwealth Games and the accompanying infrastructure investment buyers should regain confidence in the market and return to the security of property investment P P The key challenge facing the state s 2012 property market is a vastly more competitive property market which will see stronger negotiations for better deals on price terms conditions and settlements P P Another challenge will arise from the axing of the stamp duty concessions for owner occupiers on 1 August 2011 nbsp The full implications of this decision are still being played out in Queensland but it is expected it will deter some home buyers from a purchasing decision given the costs expected to be added to the home which may run into the thousands of dollars P P Hot spots for the state will be driven around affordability issues and are considered to be around Gladstone Sarina Mt Isa and most towns at or near to the eastern seaboard or major mining and resources centres P P Market Conditions P P Queensland sales volumes dropped significantly throughout 2011 and although values have fallen too they do not reflect the severity of the sales volumes drop P P Buyer confidence will improve in 2012 on the back of declining sentiment in the last half of 2011 nbsp Confidence has been and will continue to be at the mercy of interest rates local market conditions and the global economy in 2012 P P Based on First National s 2012 Property Market Outlook survey the majority of Queensland members said they expected the market to steady nbsp This shows the market is slowly strengthening after 80 per cent of survey respondents said the market had fallen in the latter half of 2011 P P Residential Market P P Property Prices P P Property prices in Queensland are expected to remain relatively flat across all sectors at least for the short term P P House prices 47 per cent of members said prices would remain relatively steady nbsp Any price rises will be as a result of the market bottoming out return of investors and an ongoing lack of stock P P Apartment strata prices The vast majority of members expect prices to continue to fall nbsp Only some pockets of the state anticipate any type of increase nbsp Drops in prices would occur in areas of oversupply as well as a weak economy and increased competition forcing owners to reduce prices to capture sales nbsp Where price increases are expected they will be minimal and would result in areas where there is ongoing strong demand P P Land prices Land price increases in high growth areas are expected to be as much as 5 per cent although some areas may see falls as large as 10 per cent nbsp High building and development costs coupled with any lack of buyer confidence that may emerge may exert downward pressure on prices however in areas where supply falls short this would be counter balanced P P Rental Market P P Vacancy rates are expected to trend downwards in 2012 nbsp Strong rising yields and rising demand should see vacancy rates tighten by up to 5 per cent possibly more so in strong mining areas P P In areas where there are limited to no employment opportunities vacancy rates are expected to increase by around 5 per cent as people seek better job prospects elsewhere P P In summary generally strong demand will keep upward pressure on weekly rents P P Growth P P Any increases in investor activity are expected to be up to 5 per cent in the main P P According to Queensland members it is the upgrader segment that is expected to produce the strongest growth in 2012 followed by first home buyers then investors and lastly retirees P P Any growth in activity investor or otherwise will be driven by improved affordability higher yields nbsp better returns and the state s strong resources sector P P Buyers will be particularly attracted to value for money properties that make owning their own home a compelling proposition P P Changing Market Conditions P P Interest rates are anticipated to decrease in the main 80 per cent by between 0 25 to 0 5 per cent P P Lower interest rates will combine with lower values to further improve affordability and stimulate buyer activity P P Most Queensland members expect an increase in mortgage defaults as overcommitted home owners continue to suffer financial stresses as costs of living continue to rise nbsp Job losses in certain areas could also be a contributing factor for some P P The carbon tax is expected to have an impact on the property market somewhat countering affordability gains as it potentially contributes to rising living and housing costs P P Commercial Market P P The Queensland commercial property market is expected to be fairly steady in 2012 offering investors weak prospects with low growth forecasts representing the lowest in Australia nbsp The state s office market is expected to continue to lag behind the rest of the country throughout 2012 P P Commercial property prices have remained relatively stable in 2011 with some increases of up to 5 per cent but also decreases of around 15 per cent due to economic conditions and lack of bank funding P P There have been some small increases in vacancy rates nbsp Where decreases have been experienced they have been in excess of 15 per cent due to market conditions high infrastructure costs and reduced demand P P Rents however have risen by between 10 and 15 per cent P P In the coming 6 months commercial property prices are expected to fall by between 5 and 10 per cent due to the scarcity of bank funding and continuing high council infrastructure costs P P Vacancy rates in 2012 are set to rise by up to 5 per cent while rents are expected to fall by up to 10 per cent losing any gains they made at the end of 2011 nbsp Rent prices are expected to stabilise during the year P P Lower interest rates which are expected to further decrease in 2012 may increase the appeal of commercial properties for investors particularly self managed super funds P P The introduction of the carbon tax is not expected to significantly impact on the Queensland commercial property market as it is expected that more practical solutions will be required at the commercial property owner level to make any real difference P P Solar power was considered the energy efficient feature that would make a commercial property more rentable followed by motion sensor lights and the ability to open windows P P Sales were expected to increase by all Queensland survey respondents as a result of new jobs and businesses being attracted to the region and trading up by existing business operators P P In Queensland most commercial property respondents said light industrial would be the sector showing the most growth in 2012 followed by the office market and medical P P SOUTH AUSTRALIA OUTLOOK P P The South Australia property market is set to moderate even further in 2012 following a fairly steady but falling market in the second half of 2011 P P Stamp duty costs and inadequate first home buyer stimulus or concessions continue to stifle the market and as 2012 progresses consumer confidence will continue to be a challenge for the market to overcome P P However anticipated cuts in interest rates will restore some confidence and BHP s investment in the expansion of Olympic Dam will be a positive boost to the South Australia economy P P Bowden is considered a hot spot for the state in 2012 because of its amenities and lifestyle appeal nbsp City fringe areas will also prove popular for home buyers P P Robe which earlier in the decade was the second fastest growing town in South Australia is anticipated to continue to benefit from sea changers along with Goolwa P P Market Conditions P P Buyer confidence has fallen in recent months but is expected to improve as we enter 2012 as a result of reducing interest rates P P Based on First National s 2012 Property Market Outlook survey ongoing lack of buyer confidence the economic outlook and interest rate cuts will see the state s market steady even further nbsp Any movements will be relatively marginal P P Residential Market P P Property Prices P P Property prices in SA are expected to remain relatively flat across all sectors P P House prices Any potential decreases are seen as a result of ongoing lack of confidence and market conditions nbsp Decreases in the main will keep below 1 per cent P P Apartment strata prices While prices are expected to remain flat there is the potential or small decreases in some pockets of the state nbsp There was a general consensus among members that movements would in the main be below 1 per cent with some indications they could be between 1 and 5 per cent nbsp Apartment strata price increases should there be any would be a result of improved investment yields which will also serve to moderate the market to some extent P P Land prices Decreases are expected to be mainly by up to 1 per cent with some members saying they could be between 5 per cent and 20 per cent nbsp Land price movements were seen as a result of a lack of demand P P BR Rental Market P P Vacancy rates are expected to remain flat or possibly trend downwards in 2012 according to SA survey respondents nbsp Strengthening demand and a contracting supply will see rates ease by up to 5 per cent nbsp For most respondents vacancy rates would increase by up to 5 per cent due to uncertainty surrounding the economy and job security coupled with an oversupply in some areas P P Weekly rents are expected to head upwards or be flat according to 72 per cent especially in mining and resource rich areas nbsp Weekly rent movements are expected to be within 5 per cent with the greater proportion of respondents saying they would be less than 1 per cent P P Growth P P Any increases in investor activity are expected to be around 5 per cent P P Investor activity growth will be driven by improved affordability as a result of falling prices lower interest rates and higher rents P P According to SA respondents affordability and lower prices will generate the most growth in the upgrader segment in 2012 followed by investors and retirees P P First homebuyers will be conspicuously absent from the market for the first six months of the year possibly in the hope that the market has not yet bottomed out and they could still get more for their hard earned savings P P Changing Market Conditions P P Interest rates are expected to decrease by SA survey respondents with movements in the vicinity of 0 25 to 0 5 per cent which is expected to instil more confidence into buyers and stimulate activity across the board especially for investors and potentially for first home buyers P P The carbon tax is expected to have an impact on the property market with 67 per cent of SA respondents saying it will produce higher home and rent prices and reduce consumer confidence P P Commercial Market P P The South Australia commercial property market is expected to remain relatively stable with increasing pressure in some areas where demand is met with no supply P P Demand is particularly strong for prime quality stock driven by improved standards of accommodation better services and energy efficient features P P Yields having been stable at between 7 5 per cent and 9 5 per cent are expected to tighten to more traditional levels in the coming 12 months P P According to the First National South Australia commercial property survey respondents commercial property prices have been fairly stable with any rises kept to below 5 per cent P P Vacancy rates have also remained stable during the year with any drops kept to below 5 per cent due to reduced demand nbsp Rent movements have been to be kept to below 5 per cent in 2011 P P This trend in commercial property is expected to continue into 2012 P P Interest rates are expected to decrease which it is hoped will increase buyer confidence P P The carbon tax is considered to potentially act as a barrier to any real change in attitudes and behaviours towards energy features in commercial property although some business operators are wising up to the many benefits they offer and A grade properties are experiencing much more demand P P Solar power is considered the leading energy efficient feature which will make a commercial property more rentable in South Australia P P Sales of commercial properties in South Australia are expected to increase as more business operators are drawn by the state s attractiveness P P Most growth in the state s commercial property market in 2012 will come from light industrial P P TASMANIA OUTLOOK P P The Tasmania property market will be bolstered by renewed interest in 2012 as home buyers stop marking time after waiting through 2011 for prime buying conditions to arrive P P In the last six months the market has been falling due to a lack of confidence in the economy and with state government policies but this is expected to steady in 2012 P P With current economic uncertainty state budget cuts and rising unemployment dampening confidence house sales and new housing construction will remain slow with prices generally remaining flat P P It is expected that extended selling periods will be seen and that values will remain under pressure until the state s economic prospects improve P P The key challenges facing the state s property market in 2012 will be ongoing low consumer confidence due to State Government budget cuts to health education and police nbsp Stamp duty concessions for first home buyers ceased in the middle of 2011 and this will continue to impact on first home buyers entering the market as they will need to save a larger deposit P P The government also announced in the budget that spikes in property land taxes will be smoothed out with a reduction in the valuation cycle from 6 years to 3 years nbsp Cost of living increases such as rising water sewerage charges and electricity prices will continue to negate any gains made from high affordability levels P P Hot spots for the state will be centred around amenities and lifestyle appeal especially for inner city Hobart and Launceston P P Market Conditions P P Buyer confidence will improve in 2012 on the back of decreasing sentiment in the last half of 2011 nbsp Confidence has been at the mercy of local market conditions and into 2012 interest rates will be more of a key influencing factor P P Based on First National s 2012 Property Market Outlook survey Tasmanian respondents said they expected the market to steady in 2012 P P Residential Market P P Property Prices P P Property prices in Tasmania are expected to remain relatively flat across all sectors although there is potential for some upward movement of below 1 per cent depending on what happens with interest rates nbsp Land prices may be sensitive to any decline in building approvals and an oversupply of land in some areas P P Rental Market P P 2012 could see an easing in rental vacancies of up to 1 per cent and moderating rental growth P P Rental markets in areas where job losses are being experienced may experience further easing of rental prices and some price drops in weekly rents will be due to people leaving areas in search of employment This could lead to an oversupply of rental properties P P So weekly rental prices will remain relatively flat in those regions with the potential of some decreases of up to 1 per cent P P Growth P P Any increases in investor activity are expected to be up to 5 per cent in the main as economic uncertainty continues to play a role in investment behaviour and purchase decisions nbsp Any potential increases will only be if investors are able to purchase positively geared properties P P According to Tasmanian survey respondents it is the upgrader segment that is expected to produce the strongest growth in 2012 as buyers seize the opportunity to capitalise on greater affordability and the possibility of lower interest rates which are expected to further decrease by between 0 5 and 0 75 per cent P P While interest rate cuts may increase activity slightly in Tasmania the real benefit will be any relief it provides to home owners who are facing large increases in their day to day living expenses P P Changing Market Conditions P P The introduction of the carbon tax is expected to further reduce confidence in the state economy and the government that runs it P P Commercial Property Market P P Tasmania is currently outperforming all other major office markets and it will continue to set the pace until at least the first half of 2012 P P VICTORIA OUTLOOK P P The Victoria property market outlook for 2012 will be quite subdued and while there are signs of a recovery on the way there is still some distance to go nbsp The current falling market in Victoria is set to rebound in 2012 as the market steadies after price corrections finally bring values to more realistic levels P P Sales activity in Victoria is strong but prices are dropping following substantial growth in house values between 2007 and 2011 of 45 per cent P P Price growth will be low due to record levels of new dwellings and recent state government land releases for new housing developments These have started to address previous year s lack of supply P P There has been a 65 per cent increase in housing stock as a result of the record building levels over the past year and it is hoped this will continue into the early part of 2012 P P Challenges for the 2012 property market are job security as well as business and Government leadership nbsp Companies need to show confidence and continue to invest to make things happen nbsp For this to occur financial institutions need to be more flexible and encourage growth P P Planning also continues to be an issue for many municipalities across the State P P Victoria has already seen an increase in mortgage defaults since August 2011 as a result of increased pressure from financial institutions nbsp It is expected this trend will continue in the next 6 months influenced by job losses and an ongoing inability to meet big mortgage commitments when incomes are reduced or lost P P 2012 hot spots for the state will be driven by amenities and lifestyle appeal and are considered to be inner city Melbourne as well as diverse regional areas with good infrastructure well serviced by major transport routes such as Shepparton Ballarat and Wangaratta P P The western and eastern growth corridors of Melbourne will also continue to show modest growth particularly Werribee Melton Sunbury Warragul and Gippsland P P BR Market Conditions P P In the latter half of 2011 consumer confidence fell but it is anticipated to improve in the first 6 months of 2012 as a result of interest rates falling the global economy strengthening and affordability improving P P Victorian members said the market would steady although a minority said they thought it would still fall P P Survey responses indicate gradually improving buyer confidence is expected to be the result of lower interest rates and increased home affordability These will be the key influencing factors on the market in 2012 P P Residential Market P P Property Prices P P Victoria s property prices are expected to remain relatively flat across all sectors with some potential downward trends P P House prices Downward movements in the main are expected to be kept below 5 per cent P P Apartment strata prices The subdued market would be as a result of oversupply and low demand P P Land prices In the main price movements would be below 5 per cent as new subdivision releases ease the supply situation in some areas nbsp Where supply is still short price increases are being experienced but these should level out in 2012 P P Rental Market P P Vacancy rates are a bit of a mixed bag with 38 per cent of Victoria respondents saying they would trend upwards easing by up to 5 per cent in the main 25 per cent said they would trend downwards by 5 per cent and 37 per cent saying they would remain flat P P As affordability improves more people are opting to buy in areas where supply is short for good quality rentals nbsp As a result there is increased competition among renters nbsp In a soft market people choose to rent rather than sell so while vacancy rates may tighten the changes will only be marginal P P Weekly rents are expected to head upwards or remain flat P P Growth P P Any increases in investor activity are expected to be in the vicinity of 5 per cent P P Investor activity is expected to be the strongest growth segment driven by improved affordability and attractiveness of regional Victoria along with improved yields and rental returns P P This would be followed by upgraders then first homebuyers and then retirees P P Changing Market Conditions P P Interest rates are expected to decrease in the main by between 0 25 to 0 5 per cent although a few said they could be as much as between 1 and 2 per cent P P Lower interest rates are expected to impact on buyer confidence stimulating the market especially investors building on the momentum generated towards the end of 2011 P P The carbon tax is expected to have an impact on the property market potentially producing higher home and rent prices as well as reducing consumer confidence P P The Victorian government has been able to keep a lid on government charges per block of land released to around 20 000 which has helped stimulate the new housing market P P Commercial Market P P Victoria is currently outperforming all other major office markets and it is expected to continue to set the pace until at least the first half of 2012 P P Melbourne s office market is stronger than Sydney and its prospects over the next two years alone are bright with a good balance struck between growth in rentals and affordability P P The state s commercial property market is expected to remain strong in 2012 with very little change in market conditions although there is the potential for prices to rise by up to 5 per cent P P Vacancy rates may rise by up to 5 per cent as supply is currently meeting demand and rents will begin to stabilise perhaps bringing them in line with other states P P Lower interest rates which are expected to further decrease in 2012 should strengthen the commercial property market and create more buyer interest P P The introduction of the carbon tax is not expected to impact the Victorian commercial property market to any great extent Survey respondents were of the belief that more practical solutions at the property owner level are required P P Half the Victorian respondents said between 1 and 5 per cent of customers seek energy efficient features when looking to lease a commercial property the most popular attributes making properties more rentable being solar power and water recycling P P Sales of commercial properties in Victoria are expected to increase in the coming 12 months due to new jobs or business growth as a result of the region s attractiveness or trading up by existing local businesses P P Heavy industry and the office market sectors are expected to represent the strongest growth areas for the Victorian commercial property market P P WESTERN AUSTRALIA OUTLOOK P P The Western Australia property market outlook for 2012 is that it will continue to perform steadily following quite an unstable market in the latter half of 2011 P P Improving market conditions and the market bottoming out will underpin the Western Australia property market for the coming 12 months P P Affordability will drive property hot spots for the state nbsp With the strength of the Western Australia economy and a decrease in land and construction costs it is a great time to reconsider investing in Western Australia P P In the Perth market hot spots will appear around areas that have had the largest price reductions in the last 12 months P P Regions like Peel now offer some great opportunities as do Northam where current prices are extremely low P P The Western Australia regional centres in the Mid and North West still offer some great rental returns P P The key challenges in 2012 will be new government policies such as the flow on effects of the new carbon tax uncertainty surrounding the world economy and ongoing regional investments P P The impending introduction of the Minerals Resource Rent Tax represents another challenge for the WA property market to contend with nbsp For the state s First National members as small business operators it has the potential to generate some real benefits in terms of sharing in the prosperity of the mining boom nbsp It also has potential positives for self managed super funds that will have more available finances as a result of the increase from 9 per cent to 12 per cent superannuation P P However the Tax also has the potential to place an additional burden on small business operators such as our members on having to pay the increased super for their employees and should Self Managed Super Fund and investor activity increase it may put upward pressure on prices and rents due to increased competition P P Market Conditions P P Buyer confidence is expected to continue to increase into 2012 as a result of improved market conditions and lower interest rates P P Western Australian members said the market would steady although 17 per cent said they thought it would rise P P Survey responses indicate improving buyer confidence and changing market conditions such as lower interest rates and a strengthening resources sector would be the key influencing factors on the market in 2012 P P Residential Market P P Property Prices P P Property prices for houses and land in Western Australia are expected to remain relatively flat while apartments strata property prices are expected to perform quite strongly P P House prices While 50 per cent said prices would remain flat around a third said they would head upwards nbsp Any price movements will in the main be kept to below 5 per cent P P Apartment strata prices respondents were evenly split between prices remaining flat increasing or decreasing nbsp Movements would be below 5 per cent due to low demand and difficult selling conditions P P Land prices most said prices would be flat however 17 per cent said they would increase nbsp Low demand and excessive development costs will curtail price activity while increased first homebuyer activity may help push up prices by up to 1 per cent P P Rental Market P P Vacancy rates in Western Australia are expected to be flat or trend downwards in 2012 as conditions tighten due to growing demand and diminishing supply nbsp Some markets are already at very low vacancies and there is not much room for movement P P Movements in vacancy rates are expected to be below 1 per cent P P Weekly rents are expected to head upwards due to a tight rental market nbsp Rents are expected to increase by between 1 and 5 per cent in the main P P Growth P P Any increases in investor activity are expected to be between 1 and 5 per cent driven by falling house prices better yields and improved returns P P Investors will spearhead growth activity in the Western Australia residential market followed by upgraders and then first home buyers P P Growth is expected to be driven by the strong resources sector in Western Australia providing plenty of employment opportunities and luring more workers to the region P P Changing Market Conditions P P Interest rates are expected to decrease by between 0 25 to 0 5 per cent by most WA members P P Lower interest rates are expected to strengthen the Western Australia property market by stimulating activity particularly among investors P P Respondents were evenly split on whether the carbon tax would impact on the property market nbsp Where an impact was expected most said it would reduce consumer confidence while some said it would produce higher rents P P Rural Regional Market P P Late rains in Western Australia have affected parts of the rural sector which earlier this season was looking at bumper crops nbsp The outcome will depend on the damage caused by these seasonal factors which may affect the rural economy and ultimately buyer confidence P P Commercial Market P P The Western Australia office market will strengthen as the resources boom drives up demand for office space in 2012 P P Commercial property prices are expected to increase by around 5 per cent due to an increase in activity high costs of developing new land releases and increased demand P P Lower interest rates which are expected to continue to decrease in 2012 should improve confidence in the Western Australia commercial property market P P The introduction of the carbon tax is considered a good place according to Western Australia members but the real difference will be made by individuals with some saying it had the potential to delay any real movement on more energy efficient properties P P Half the Western Australia respondents said up to 5 per cent of customers seek energy efficient features when looking to lease a commercial property the most popular attributes that make properties more rentable being solar power and water recycling P P Sales of commercial properties in Western Australia are expected to increase in the coming 12 months due to new jobs or business growth in the region P P Heavy industry is the sector expected to represent the strongest growth area for the Western Australian commercial property market P P ALICE SPRINGS OUTLOOK P P The property market in Alice Springs is expected to remain flat into 2012 although there are some factors that may produce highlights for the year P P The high proportion of government employees in Alice Springs will continue to bolster the market providing good employment opportunities P P However consumer confidence will be the key determining factor in whether the market improves to any great extent in 2012 P P Market Conditions P P Continued pessimism amongst buyers has kept the market on a downward trend and this is expected to continue into 2012 P P Alice Springs is insulated to an extent from global issues however the severity of the global situation makes it unlikely that it will remain completely unscathed P P There may only be a slight effect from the global economic situation but the Alice Springs market will continue with relatively stable median prices The biggest issue the market faces is the significant reduction in sales numbers 60 per cent in the unit market alone this year P P Residential Market P P Property Prices P P Property prices in Alice Springs are expected to remain relatively flat with the potential for upward and downward movements of up to 1 per cent depending on what happens with interest rates nbsp Significant decreases in interest rates will improve consumer sentiment and may help stimulate market activity P P Rental Market P P

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