Cunninghams Property Update

There’s a lot of media coverage at present about the state of the property market.
But what does it all mean?
How do we separate sensationalism from what may impact us here in our part of the world? Top of mind at present is a prospect of either a hung parliament or that we may be back to the polls.
Housing affordability, government spending and employment are always major factors that will impact the property market. But remember, on the Northern Beaches we’re not facing the prospect of a huge tract of land being released (and therefore increasingly supply). And both of our Federal Government Parties played it fairly safe in terms of major policy announcements so we think the impact on property prices around these parts is pretty minimal.

And so, onto business as usual – Spring is officially here! It is a popular time of year for people to sell properties and it’s important to lay the groundwork – literally – now.
Much attention is given to the styling of a home (see John’s tips in yesterday’s Manly Daily!) but don’t neglect your gardens! Beautiful backyards can become an outdoor haven, particularly in the warmer months. Talk to us if you need some advice on how to spruce up your garden, or spend some time at your local garden centre and learn from the best green thumbs in the business.
Have a great week.
PRICE UPDATES:
1/102 Lawrence Street, Freshwater – More than $775,000
5a Kitchener Street, Balgowlah – More than $800,000
12/144 Ocean Street, Narrabeen – $539,000
67 Beatrice St, Balgowlah Heights- $1,795,000
213/5-17 Central Ave, Manly- More than $580,000

It’s been a great week for us at Cunninghams Property. Finalists in the REINSW “Innovation” category and in the Manly Daily Business Achiever awards for 2010.   And our own Eddy Sydney Piddington is a finalist in the Auction Marketing category – as his initial ESP suggest – experienced, successful and professional – being selected as finalist is testement to this. 

We’re particularly excited about being finalists in Innovation – there are some fantastic things happening in our world and it’s great to be a part of this.

And of course, our local rag, the “Manly Daily” is so popular in this part of the world – we have won this three times in as many years previously and we are thrilled to be in such great company.

We heard that the Manly Daily is the most widely circulated, free, daily newspaper in the world. True? Do you know?

Have a great week!

It’s that time of year again – time to vote  in the Manly Daily Business Achiever Awards for 2010.  Help us win for the fifth time in as many years.  It’s easy and a great way to support and acknowledge the local business community and all the people who make it all tick. 

We’ve just listed another property in a block of units in Freshwater.  It’s a popular little spot there and we find many of our Balgowlah, Manly and Fairlight buyers are now expanding their horizons and Freshie is definately on the radar.  This block is in a quite part of the suburb on the crest of a hill, close to the school and shops. 

In the last 12 months, we’ve sold four of the six properties listed in the block and we still hold the block record from three years ago.  That’s a pretty good average we think.  It’s in Macdonald Stree in Freshwater – check out our website tomorrow and it will bet there.  

Rain, rain go away. Come again preferably not tomorrow or the next day and give us a bit of respite! Last week of Autumn and we’re sick of Winter before it’s even here. Let’s hope for some sunshine soon. It doesn’t feel like we’ll ever get to that, given the grey skies that have been hanging around recently.

We have 28 properties open this weekend, including 4 Old Sydney Road in Seaforth. Without a doubt this property would boast one of the most beautiful views on the Northern Beaches – see if you agree. Andrew Lutze of Cunninghams Marketingis the agent marketing this property.

Let’s hope we get better weather for the annaul Manly Food and wine Festival (5th and 6th of June)  .Rather have it now instead of next weekend This is the 24th of these festivals – an institution in the area and very much an event on the locals calendar each year!

Have a great week!

Hopefully we’ll see you on the weekend!

Last weekend brought us to our last official weekend of Summer – bring on the cooler weather we say!  Or maybe we could just lose the muggy days and nights.    Although it was disappointing having to hop out of the water on Sunday and not being able to enjoy a swim.  Better to be safe than worry we say.

In real estate, the last weekend of Summer used to be fairly significant in terms of a busy spring and summer – especially after a break at Christmas – this time of year was almost a final dash.  It’s a bit like the first weekend of Spring – it’s really just another busy weekend for us.  Over the past couple of weeks, we had an average of sixteen parties through each of our open for inspections.  And, with better technology and smarter methods of marketing, there’s something happening in the market every day of every week.   

The interest rate rise yesterday was fairly expected and with mortgages in this area above the average mortgage it will make a bit of a differenct to everyone’s pocket.  But it does have a flipside bringing some stability to the market which I think we’d all like to see.   

Speaking of markets and activities that are on – there’s some great community events going on – do you get down to the Manly West Organic Markets each Saturday?  Or maybe you prefer the Manly Farmers Markets – held down at Short Street Plaza each weekend.  Manly Council has also been running the fantastic Saturdays at Sunset – last one this weekend.   At Cunninghams, we love these sorts of events and organisations – they have a great energy about them and make this community such a pleasure to be involved in.

The decision by the Reserve Bank this week to keep the official interest rate unchanged was surprising – and welcome.  However good news about the Australian economy compared to other countries overseas and accelerating house prices probably means that this reprieve will be short lived.

The rain certainly didn’t keep people away so we can only assume that visitors to Cunninghams’ properties on the market must have certainly anticipated the announcement.  75 people viewed one property in Fairlight and another 25 viewed another through our  database  – interest and excitement like this we haven’t seen for a while.   

The fact is we are in a well regarded area and many people want to live here.  So regardless of what happens with interest rates, there is strong interest from young professionals, families and downsizers – a healthy cross section of buyers and a balanced market.  Demand has been and will continue to be strong. 

For investors also the news is good – properties are renting quickly and we continue to see many people wanting to rent quality properties.  We have a great team of experienced and committed property managers here at Cunninghams – did you know we manage close to a quarter of a billion dollars in assets?

Looking forward to seeing you soon at one of our property inspections. 

Whether you are an investor or buying your first home, upgrading or downsizing – everything in the mix should be right for you – the outlook for property is great, the economy is stable and timing couldn’t be better. The Northern Beaches and our area closer to the city continues to be very popular – particularly with families from the North Shore, Inner West and Eastern Suburbs who are attracted to the great lifestyle and proximity to fantastic amenities.

Cunninghams last week listed eight new properties in the space of 24 hours, with a further two being finalized on Monday. So it’s been consistently frantic for the past few working days! Last year we talked about a strong lead up to February and it’s happening – our whole team is now back on deck and ready for the year ahead.

Don’t procrastinate – whatever your plans may be. If you are looking to sell, sometimes the process of preparing a home for sale can seem overwhelming – but we can help you through each step and make this a reality for you in a reasonably short period of time. And if you are looking to buy, we can definitely help you find the right property and provide support for you to ensure you have your ‘house’ in order too. You need to be in a position to act quickly and decisively in this market. Remember to let us know what you need. We have a significant number of homes that we sell before these properties even hit the broader market – because both these buyers and sellers are well known to Cunninghams and we have excellent reach within the market.

Easing back into work and some semblance of normality is always difficult after a break – no matter how refreshed you feel! The property market feels a little bit the same this week. Sellers are preparing homes for sale, buyers are still returning from holidays – both full of anticipation. If you are in either of these camps do talk to us, let Cunninghams provide you with some needed advice and support. Our team is just about all back on deck and prepared for the year ahead.

We have a few new listings this week – hope to see you on the weekend at one of our inspections. Don’t forget to let us know what your plans are – we can help.

Have a great week.

This is our last blog communication for the year – can you believe how quickly the year has gone? It was an interesting year to say the least, and not as dire as many predicted, particularly on the economic front.

We hope that everyone enjoys the festive season and manages to take some well deserved time out. It’s shaping up to be a very hot summer judging by our recent weeks, so take care in the surf and don’t get sunburnt on the beach! Our volunteers up and down the coast and in the bush do such a good job keeping us safe – take care of them too! Christmas can be a great time for most of us, but it can be stressful so do take the time to enjoy it and make the most of it.

It’s been a great year for Cunninghams, we have thoroughly enjoyed our interactions with buyers and sellers of properties, investors and tenants. We continue to grow – we’ve had record months this year, it’s been wonderful to reach these levels in an industry that all of us at Cunninghams are so passionate about. So thank you!

We’ve got plenty of stock ready to come onto the market in January – we can’t wait for the year ahead.

Have a great Christmas and all the very best for the New Year. Stay well and happy.

This time of year always seems to be frantic – people to see, places to go, properties to inspect!  Most of us think we should have made more of an effort to be more organised and to visit people we should really see more of anyway throughout the year – not wait until the last minute when we really can’t give those we care about the time and attention they deserve, especially our friends and family.  We all think that next year we’ll do it differently and here we are again!  Either way, we hope you’re enjoying this month and making the most out of each situation.

With everything else that is going on, Cunninghams listed two new properties this week – 1 Golf Parade Manly and 46 Curban St, Balgowlah Heights.  So if you are in the market for a new home we hope to see you at one of our open-for-inspections.  Check out our properties that are open this weekend – come and have a look and enjoy the calm!

Have a great week.