Friday, January 30, 2009

2009 off to a steady start

2009 off to a steady start With the first month of 2009 behind us, how is the market looking and what can we expect from the property market in the coming months? Here are my thoughts.

The big ‘R’
Given the level of focus from the media around the Access Economics’ forecast this week, it seems inevitable that we will get the big R happening. Forecasters seem hell bent on making certain it happens so they can all be right….so where does that leave property owners in South Australia?

According to all the latest reports South Australia seems to have dodged the main line of fire in regards to its economic performance to date, and in one report was even described as the “Hidden Performer”. We seem to be quietly operating under the radar. When it comes to business we are a tough State and in property we have a history of resilience and consistency, avoiding the extreme highs and lows of the other States’ boom/bust markets. Transaction numbers were 35% down in the latter part of 07 verses 08 which may have helped the stabilisation of prices. Rather than meeting the market, a number of property owners in South Australia are simply opting to withdraw from sale and rent out their properties.

What we are experiencing is real!
From what I see, there will be a dip in our median price soon as the results of Spring ’08 work through the system. I have gone on record saying we have seen a 10 to 15% softening in the market (some areas have done much better, some worse) and this is exactly what most of the people in the know and agents are reporting.

Toop&Toop have a reputation of achieving top outcomes for our clients so we continue to monitor the market closely to ensure this remains the case. Given we are achieving sales when others can’t, we are confident what we are experiencing is real. We have not seen any panic selling yet but we saw some pressure situations late last year, there seems to be good underlying demand as soon as the price aligns with the market. Auctions are still working in most cases, but not necessarily selling under the hammer, often within a few days.

I can’t see any headline deterioration in prices this year, maybe another 10% in some segments of the market. Another interest rate drop will be extremely useful and we are watching those unemployment figures.

Three key factors
Three key factors continue to positively impact our market. Firstly we have not yet seen the massive surge in unemployment in South Australia, (this is the most critical factor to watch in coming months). The second is that we have record low interest rates which are still falling. Thirdly the rental returns for residential property is improving with the current tight rental market. Many property owners with secure jobs have essentially had a win with lower costs all around, including travel and leisure.

Other factors positively impacting us include the drop in the cost of petrol, the lack of alternate safe investment options, the arrival of the 7th Battalion with 1100 Soldiers this year, the success of the Governments’ International Education initiatives and immigration providing added stimulus to population growth. The upshot is that property activity is down, prices according to the statistics are holding and South Australia is well placed to weather the International financial and property storm.

Fairer prices
Take advantage of a secure job and adopt a long term view, trust in history and keep in mind we believe current buying is better than we have seen for over 18 months, understand that stats lag reality and take advantage of that. Do not expect a bargain basement in South Australian property but do enjoy the fairer prices and lower costs right now. This is the market to buy and sell - transacting in the same market is best under these conditions but sell first, buy second and be in a position to offer unconditional.

This is a GREAT time to be moving up - a GREAT time to be buying investments.

Anthony Toop, Managing Director <>

© Toop Real Estate Group

Friday, January 23, 2009

Aussie, Aussie, Aussie!

Aussie, Aussie, Aussie! Australia Day… for every citizen in our great wide land this national day of celebration represents something different. Family traditions for some, a day of reflection for others; the fact is that the beginning and growth of this great day is often lost in translation.
The 26th January 2009 marks the 221st year since our country was founded, with the arrival of the First Fleet at Sydney Cove. It wasn’t until 1838 that this day, ‘Australia Day’, was pronounced as an annual Public Holiday in New South Wales and over 70 years later, in 1910, that South Australia decided to look upon this day as one of national commemoration, not one purely for Sydneysiders.
While we are still part of a young country many events have occurred over the years which have enriched the meaning of this day from its British settlement establishment, to a day of cultural diversity and equality for all Australians.
For South Australians, Australia Day is about embracing all that is great and iconic about our state. It’s about Light’s Vision,  the Festival Centre and our city’s organised grid of roads surrounded by open parklands. It’s about Popeye, Frog cakes, Fruchocs and Pie Floaters. It’s about embracing our South Australian businesses that are born and bred.
Now in our 24th year of business, Toop&Toop proudly continues as South Australia’s largest family owned Real Estate Agency. With six offices across metropolitan Adelaide and the Fleurieu Peninsula, we love this state and its people. Property is our passion and our door’s are always open to everyone seeking a market update or with a rental, sale or buying query.
When you’re next thinking about real estate, whether you’re at the cricket or enjoying a backyard barbie, think South Australian… think Toop&Toop.
Happy Australia Day!

Anthony Toop, Managing Director <>

© Toop Real Estate Group

Friday, January 16, 2009

Feel like a sea change?

Feel like a sea change? After a fairly cool festive season the sun is now shining, the weather’s fine and Summer has finally arrived in full force, which means… it’s time to head towards the beach for a coastal retreat!

It’s a well known fact that in this sun-kissed country of ours the long stretches of beautiful sandy beaches are a huge draw card for tourists and locals alike. Every summer when the temperature soars we flock to the seaside with family and friends to put our feet up, relax and unwind from the hustle and bustle of our day to day lives. For some it’s just a day trip, while for others it’s a holiday break or a total lifestyle change.

The big question is which destination.

At Toop&Toop we cover South Australia’s shoreline from Robe’s limestone coast through to North Haven’s boat lined marina. So whether you’re looking for an ideal holiday rental or your own shack on the Fleurieu Peninsula; or a permanent waterside residence close to the city - we can assist.

I think it’s safe to say that the majority of South Aussies have enjoyed a family holiday on the Fleurieu at sometime or another – climbing the bluff, searching for Fairy Penguins on Granite Island and frequenting the famous Port Elliot Bakery. The members of our Fleurieu team are locals through and through. Not only do they know the best spots to visit on your holiday, they know the local real estate market and can match a property to your needs, regardless of whether you’re looking to rent or buy. Closer to the city our Glenelg and Port Adelaide offices cover the entire metropolitan coastline and all aspects of the property market – from affordable through to affluent.

Know what you’re looking for?

If it’s holiday accommodation just go to <> ; To buy along Adelaide’s shoreline it’s <> or if you’d like your own holiday getaway go to <>  .

We’re a friendly bunch at Toop&Toop, so feel free to call into your local office to chat to our Rental and Sale team about your property requirements.

Anthony Toop, Managing Director <>
© Toop Real Estate Group

Friday, January 09, 2009

Back to Business

Back to Business I can’t believe it’s the start of another year already!
2008 just seemed to fly by - the ‘merry’ season of Christmas Party’s and New Year’s Eve celebrations is behind us and it’s time again… to get back to business.
At the beginning of each year the Real Estate market takes off with a rush. Fueled by buyers relocating from interstate, parents of new Uni students picking out an ideal investment property and first home buyers hoping to tick their biggest New Year resolution off their list!
2009 looks to be no exception to this rule.
Although we’re still experiencing a turbulent economy, new properties and fresh buyers are continuing to enter the market on a weekly basis, while vendors are becoming accustomed to the market and pricing their properties right, resulting in a quicker sale time.
At Toop&Toop we haven’t been on holidays. Over the past few weeks we’ve been taking buyer enquiries, holding private property viewings and working behind the scenes preparing marketing for all the new properties that are hitting the market this weekend.
Our team is positive yet realistic about the current property market. While many agents may be saying there are ‘no buyers out there’, we know differently. At Toop&Toop our Sales Partners know how to provide helpful and professional service to both our vendors and purchasers alike, resulting in successful transactions for all involved.
So if you’re looking for a home this new year head to or call your local Toop office for some well founded advice and guidance.
2009… here we come!

Mandy Wurth, General Manager - Sales <>

© Toop Real Estate Group