Friday, May 29, 2009

RP Data-Rismark Home Value Indices May 09

Tim Lawless has just forwarded hot off the press the end of month indices report from RP Data. These reports are always interesting and I will post our response to once I have had a good look at it.

RP Data-Rismark Home Value Indices May 09(PDF)

Anthony Toop, Managing Director.

© Toop Real Estate Group

This week's InsideStory

InsideStory report brought to you by RP Data sums up the market perfectly, plenty of volume under $400,000 as the first home market is running hot, thanks to the First Home Owners Bonus. 30% of the states transactions are coming from just 3 council areas, this is really good reading if you are following the market.

Here is one paragraph direct from the report but a few terrific graphs so have a look:

“From a price point perspective, more sales are occurring under $600,000 and fewer sales are occurring over $600,000. Across the nation’s capital cities, the largest jump in market activity is occurring in the $300,000 to $400,000 price segment. No surprises here – this is where first home buyers are most concentrated. Across the capital cities, house sales priced under $500,000 now account for 70% of the entire market (compared to 65% last year).”

Open the report and have a good read.

Property Pulse (May 2009) (PDF)

Anthony Toop, Managing Director.

© Toop Real Estate Group

Thursday, May 21, 2009

REJECT the Recession continues

Confidence is running hot as RP Data release a national report on $1m plus sales. Toop&Toop “Reject the Recession” theme adopted for 2009-10 is off to a flying start with record breaking sales activity.

Let’ share some Toop&Toop stats with you. Since May 2008 Toop&Toop have sold 105 properties over $1,000,000 and in the past 3 months alone we’ve sold a total of 29 with a number of these negotiated off market. In the first 18 days of May Toop&Toop sold on average of one million $ plus home every second day - a staggering 9 properties over $1,000,000.

RP Data has released some very interesting National statistics on the top end market. Considering a $1million sale in Adelaide means a whole lot more than it does in most of Australia, the report supports the strength of Adelaide’s property market.

Have a look at some facts out of the RPData report:

“Over the last 12 months the number of suburbs with a median house or unit price of more than $1 million has fallen from 151 suburbs nationwide to 134 suburbs. NSW saw the greatest change in the number of these elite suburbs, with a net loss of 8 suburbs or 9%. Qld and SA on the other hand, recorded a net gain of $1 million plus suburbs of 1 each.

It is unsurprising to see that the number of suburbs with a median price of more than $1 million has shrunk during the last 12 months given the impact of the global financial crisis. This has resulted in huge losses in superannuation, large falls across equity markets and price falls across premium property markets.

Across the 151 suburbs which recorded a median house price of $1 million or greater during 2008, 106 suburbs or more than 70 percent of these suburbs, recorded a fall in median price during the year...”, the report says.

Looking into the RP Data detail, we had both North Adelaide and Leabrook fall out of the million dollar club, while Toorak Gardens and Malvern entered with Malvern seeing a staggering 33.98% increase.

The activity and sales occurring along with new records being set and then reset are results that simply cannot be ignored.

Anthony Toop, Managing Director.

© Toop Real Estate Group

Saturday, May 16, 2009

The $1 million club just got smaller

Weekly Property Pulse Professional Edition
This week's edition covers

-Industry Market Wrap
-Article: The $1 million club just got smaller

RPData- This week's Property Pulse

Anthony Toop, Managing Director.

© Toop Real Estate Group

Thursday, May 14, 2009

Prediction: optimistic future and an amazing fast turnaround

Tuesday’s Budget predicts an optimistic future and an amazing fast turnaround. It seems the Government have also adopted the “Reject the Recession” movement.
Economic Growth- Negative GDP of -0.5% for 2009-10, 2.25 % at 2010-11 and 4.5% in 2011-12 and 2012-13

Unemployment- Expected at 8.25% for 2009-10, 8.5% for 2010-11 and 7.5% for 2011-12
Irrespective of your own thoughts, the reality of this week is that the First Home Owners Boost stimulus remains but will be phased out... great decision! This is a great outcome, and will avoid any shock waves through that part of the market.

Common sense prevailed in the first home area; the announced process will assist in assuring a soft landing in the affordable end of the property market, which has been in full boom for the past 6 months. The surge predicted leading into the June 30th deadline has been headed off... very good.

“The Budget showed good judgement in the treatment of the First Home Owners Boost but our biggest concern for home sellers is the flood of properties expected in Spring. Learn from Spring 2008 - Sell in winter for better prices and faster sales.”

First Home buyers should relax and do their homework. Smart money is starting to go into places that have seen no Owners Boost price rises. A classic example is Victor Harbor. Our Victor Office reports some amazing opportunities for buying in the first home range. Commuting is easy while the lifestyle enjoyed is amazing. Near city country locations offer incredible opportunities to first home buyers, and awesome lifestyles for young families. These are areas that can now be considered, our BEST BUYS.

There is going to be a lot of property news for people so be sure to sign up for InsideStory. We post all the latest reports, get the Inside information in full including the latest RP Data reports, CommSec and pretty much everything that impacts property owners.

Anthony Toop, Managing Director.

© Toop Real Estate Group

Wednesday, May 06, 2009

REJECT the Recession

On Friday Toop&Toop officially joined Kochie’s “Reject the Recession” movement.

At Toop&Toop’s 24th birthday gala last night (8th May 1985-2009) our annual theme was announced. This year it is “Reject the Recession”.

This perfectly follows on from last year’s “Year of Renaissance” when Toop&Toop made wholesale changes in order to adapt to the post boom period. Rather than shedding staff and making wholesale cost cuts, over the past 12 months we have been focused on; retraining our team to operate in this new environment, operational efficiencies, system reviews, process changes and software updates.

Toop&Toop’s 25th year is about leadership, innovation, and being absolutely determined and true to our Mission. In doing so we refuse to succumb to the seize mentality of the Recession.

Toop&Toop’s DNA from birth on the 8th May 1985 has been to flourish against the odds. 1985 was tough, yet we started our business getting results when others couldn’t, to become Australia’s #1 Agency. We understand performance and our mission then remains our mission now.

- We will take the lead

- We will not let the competition set the pace

- We will focus on competitive edge at every opportunity

- We will provide service to our clients of a standard unmatched in real estate

- We will be led by our customer not by our products

- We will do the right things as well as do things right

Call it trendy, call it spin... we are not concerned, we call it a no nonsense, straight forward approach to doing business. Good, uncomplicated specialist advice and we totally commit our 25th year to helping our clients Reject the Recession.

Toop&Toop publicly declare that we join the “Reject the Recession” movement!

Anthony Toop, Managing Director.

© Toop Real Estate Group

Friday, May 01, 2009

RP Data’s Property Value Indices Report is possibly the best of all the reports we receive. This report is a must read jf you are following the property market and trends.

Note the blow out in days on market for Sth Aust. 81 Days to sell on average and a fall of 0.3% in prices compared to a turn around in Sydney and Melbourne. These figures actually reflect what occurred in the last quarter of 2008, and I am predicting another softening of prices in spring 2009, but for now it is ALL GO! Toop&Toop have experienced a terrific February, March and April in both volumes of sales and we have seen stability in prices. As reported in the previous InsideStory article due for publication Saturday (ist May), the decision by the Feds on the first home stimulus extension will impact on the second half of 2009. The first home activity has created the fire under the market with activity stimulated through the entire market.

Spring is a period I would avoid selling if you have a choice….winter 2009 I think will prove to be a great time for property sellers as supply will be low and demand is good. I encourage sellers to move now, the more sales brought forward the less the risk of a collapse like occurred last year in the spring market.

This report is a great read.

RP DATA Indices Report (April 2009) (PDF)

Anthony Toop, Managing Director.

© Toop Real Estate Group