Thursday, August 25, 2016

The secret is out… Adelaide hits the headlines again!

This month Adelaide made headlines as the fifth most liveable city in the world! 140 cities from around the globe were rated on healthcare, culture and environment, stability, education and infrastructure. Drawing with Calgary, Canada, we sat behind Melbourne who took out first place, with Perth being the only other Australian city to make the top 10 list, sitting at number seven.

As proud South Australians, it's not hard for us to see why we are making global headlines as the place to live. We love Adelaide. Not only for its character and beautiful old buildings, but also for the easy living, incredible surrounds and lifestyle on offer.

Being in real estate, we naturally ask ourselves, "Will Adelaide's growing popularity have an effect on the property market?". If the current trends continue, this could certainly have an impact in the years ahead. When it comes to property, Adelaide is a steady performer and being a popular place to live is only going to aid in the long-term growth of property prices.

It is likely that the popularity of our city will create higher demand in our most sought after suburbs. This year we've already seen an increasing number of interstate investors enter the Adelaide market, which is creating additional competition in some areas. This all influences the upward trend in house and unit pricing. 

If Adelaide continues to make its mark globally, with quality lifestyle and affordability being our biggest draw cards, we could become a serious contender as the place to live when up against bigger cities on the eastern seaboard. So for investors, we could expect to see an increase in relocation activity, creating a spike in rental demand for family homes and executive rental properties. Of course though, this is also dependent on local employment growth and job opportunities in our state.

It's exciting to see our city's popularity growing and that we are making a mark on a global scale! This creates opportunity and is extremely positive news for our state and the property market. 

The secret is out - Adelaide is a fantastic place to be - and there's nothing we love more than helping people find their dream home in this amazing city. So give our team a call to take advantage of the current market conditions, and find out how we can help you find your place in this beautiful part of the world.

Suzannah Toop

Thursday, August 18, 2016

Beat the spring rush and hit the market early!

There's a new feeling in the air, the winter chill is easing and the mornings are getting brighter. Spring is just around the corner! 

In our industry, even though statistics show that winter is the best time to sell, homes do look beautiful in spring and many vendors feel more comfortable waiting until the winter months have passed to put their home on the market. This is the time when gardens are in full bloom and looking their best. 

Why does winter work so well for sellers? Stock levels are tight and buyer demand is high. Then, while awaiting settlement, sellers can cherry pick the best buys from the seasonal flood of newly listed properties that traditionally launch in the first few weeks of spring. 

For those of you who have your heart set on spring? We have some Toop Tips to help make sure you don't get caught in the rush.

Put your home on the market early! With the AFL Grand Final over a long weekend this
year, it is good news for sellers. Given the
extra day, buyers can still watch the footy
and attend opens! 

Ensure you have a selling strategy you are comfortable with. Launching in peak times does have great advantages, however it is likely that you will be competing with more properties. Ensure you take the time to choose the right agency and that your salesperson has a strategic approach to the campaign - one that you feel will get you the very best result. 

Beware of 'campaigns' or 'promotions'. Agency competitions have started. They are offering people all sorts of 'prizes' such as holidays or movie vouchers, to ramp up the quantity of business for their agents leading into spring. It is important to tread carefully with promotions like these, as choosing the right agent with the resources to handle the sale campaign is integral to its success.

Curiosity is imperative! Ask questions of your salesperson, ask to see more information, or even ask for a tour of the agent's office. Find
out what goes on behind the scenes to support the promises they are making. 

Spring is almost here and we're excited!

At Toop&Toop we pride ourselves on delivering our promise of exceptional customer service
and results.

At Team Toop, everyone from our six offices works together. With our collaborative buyer intel, we can provide you with an accurate number of how many people we have looking for a property
like yours, in real time.

If you would like to find out more on how Team Toop can leverage buyer demand for your property and make sure your home stands out this spring...

We would love to chat with you, and better still our team would love to, show you! 

Wednesday, August 10, 2016

Adelaide Trend Setters

Trends are showing that Adelaide is becoming particularly popular especially for those looking
to invest in residential property. Living in Adelaide is affordable, and right now it is providing landlords with solid investment returns.
The question is where should you look to buy?

We believe there are two keys things to consider when looking at where to purchase: 

1.  Look at areas where new trends are emerging. This includes new coffee shops, new restaurants or other hubs of activity.
If there is talk of exciting places to try for dinner or shopping precincts, then this is a good sign that a trend is developing, which will ultimately flow through to the property market.

2.  Look at the fundamentals. How close is the CBD or the beach? Is there infrastructure in the area? Reviewing key indicators such as population growth and if there is future
plans for new development, will help map
out the anticipated locations of activity around Adelaide. 

Whilst there is no crystal ball, one thing is for certain. Savvy investors and developers do
their homework and when they get it right, the upside is huge! 

There is serious benefit from being 'in the know', particularly when purchasing property before prices rise, and then achieving uplift in rents when everyone else catches on. However, just like any fad by the time everyone is talking about a suburb, often it is too late. You become a late mover and wonder why it has become 'so expensive' to purchase in the area. 

So where are the savvy investors and
developers currently looking?

We are seeing an increase in activity in the Western corridor between the city and the beach. Suburbs such as Plympton and Findon are achieving solid rental returns and are showing positive signs for capital growth. Newly built or upgraded properties are achieving rents of $420 to $450 per week. Purely on location alone, these suburbs 'stack up' as tenants have both the city and the beach within arm's reach.

We are also hearing a lot about Torrensville as a result of its close proximity to shops and restaurants on Henley Beach Road. Currently there is hype about the inner West, fortunately there is still affordable property in the area, particularly in units.

Maylands is also a favourite being so close to the Parade in Norwood. It is a great location and doesn't attract the same price tag as its neighbouring suburbs.

Just like knowing where the hidden all-day parking spaces are, or the back streets that shave off 15 minutes drive time, there is a huge benefit to doing your homework. It will ensure you know the property 'hot spots' and keep you ahead of the trends. 

At Toop&Toop we love talking all things investment. If you would like to know more about the 'hot spots' in Adelaide to either purchase or invest, pop in or have a chat to our team today!

Suzannah Toop

Thursday, August 04, 2016

The Power of Auction

It's no surprise that when I was growing up, terminology such as 'going to auction' and 'setting the reserve' were everyday phrases 
in our household. 

The first experience I remember of an auction was when we were selling our family home. Auction day arrived and I was so excited as the crowd gathered on our front lawn, staring at the front door, waiting for the auctioneer to appear. Suzannah and I took prime position, ready to watch the action unfold. It was fast and furious and ended with everyone clapping and congratulating us on a fantastic result! Well, at least that's how I remember it!

Over the last six years, I have closely studied the auction technique. I have been to countless auctions and have seen hundreds of clients go through the auction process. It is our job to explain the sale process and educate clients on the pros and cons of each method of sale. We make sure that before we market our clients' home that they feel comfortable and confident with the chosen method of sale.

For me, the auction process is something I fully believe in, and my studies in marketing supports this. Having a concentrated campaign with a set point in time to encourage action and leverage competition is exactly how you get the best results! 

An auction puts the vendors in the driver's seat and ensures they are dealing with serious buyers - the ones who are in a position to purchase the property free of conditions and with no cooling off period.

CoreLogic RP Data statistics state that not only does an auction help achieve premium results, but in South Australia properties sell on average in under half the time than properties listed for private sale. Serious buyers also benefit from this process as they can utilise their financial position on auction day to have an advantage over conditional buyers in the market.

The auction method in South Australia is starting to gain traction, however, we are still behind our eastern state rivals who on average take over four to seven times the amount of properties to auction. Its popularity has maintained power throughout winter with auction activity increasing across the majority 
of our capital cities in July.

These figures reiterate the strong results 
we have witnessed with Team Toop's auction properties. Last weekend Toop&Toop recorded an 80% clearance rate at our auctions, and across the Adelaide market there was 71.6% clearance rate from a total 106 auctions. So with all signs pointing to auction, why can it 
still seem so daunting?

In our experience it comes down to the two E's. Emotion and Education...

There is no doubt it's an emotional roller coaster. The anticipation of how many people will come through each open, the competing property auctions throughout the campaign, or the worry that no buyers are interested. It's stressful. This is where our role as agents is so important. We are here to help you navigate through the emotion, explain every step in the process and continually communicate with you. 

The power of emotions in the auction process is important to be acknowledged, understood and respected.