Thursday, April 28, 2016

The 'where' question...

With Adelaide being at the top of many investors' shopping lists, purchasing in Adelaide has been the topic of many conversations across Australia this year.

The biggest question I'm asked almost daily is, "Where should I be buying?" This question is coming from everywhere including my friends who are looking to invest and the taxi driver I 
had in Sydney this past weekend.

Asking a real estate agent this question isn't as straight forward as you would first think. Every agent may have a differing opinion on which suburb is the most popular and where you 
should be buying.

You might ask, why is this? Yes, you are chatting to a sales person, but in the investing space, it is because the 'where' very much depends on what you are hoping to achieve from a financial or strategy point of view. Each suburb or area provides investors different offerings, suited to their different needs.

To answer the 'where' question, two key points to consider are... Is it cash flow that you're after? Or is it capital gain?

Equally as important to consider are questions such as... How long is your investment horizon? Is it strictly an investment? Or will you be living in it yourself one day? And... What type of tenant do you envisage living in your home? All of the above factors will help you narrow the scope of where is best to buy.

So what are our views on the 'where' question?

If you're looking for capital gain, those suburbs that border the city have been performing well this year (such as Parkside, Norwood, Prospect, and North Adelaide). The inner west (Thebarton, Torrensville, and West Hindmarsh) is also proving popular for those purchasers looking for value-for-money and a lower price point to enter the market.

If you're looking for cash flow, we are seeing great yields in the north eastern suburbs such as Golden Grove, Greenwith and Modbury. These suburbs are currently seeing an average yield of between 4.1% and 5.1%.

If you are planning on living in the property one day, this is much more straight forward as it comes down to personal preference. It is simply 
a matter of finding a suburb where you could see yourself living!

As a whole, we are seeing the $400,000 to $800,000 price range to be the most crowded sector of the market. Whilst the added competition isn't the best news for investors looking to purchase, our team are here to help! We offer an exclusive off market service, The Vault, which provides VIP access for purchasers to view properties before they hit the public market.

At Toop&Toop we are passionate about investing in property and would love to share with you what we are finding in the Adelaide market, so give our team a call on 08 8362 8888 for a confidential chat.

Suzannah Toop

Thursday, April 21, 2016

As the famous saying goes … change brings opportunity!

This week Team Toop farewells one of South Australia's most experienced names in real estate as he embarks on an exciting new adventure and career interstate. Grant Thredgold is a well known local real estate identity who has been an amazing part of our team. Before joining us Grant owned and managed his own very successful real estate company in Brighton for 20 years.

Grant has been a fantastic mentor to not only me, but the entire Toop team. While we will miss him a lot, we are thrilled for him and his partner Anna as they follow their passion and embark on their new journey owning and managing the 'Atlas Motel' in Dubbo, NSW!

As one door closes another one opens! We see a great opportunity to further grow our Glenelg Sales Team and are looking for someone who is ready to take their real estate sales career to the next level! We are a team that is focused on achieving excellence. We set high standards for ourselves and are passionate about delivering an unmatchable experience to our clients.

As a business that invests heavily in our team, we always back our people and provide them with valuable networks, innovative marketing, tools and training that no other agency in South Australia can offer. We take good agents and make them great. We have the most experienced team of sales representatives in South Australia, including a dedicated group of senior mentors. Team Toop are also part of the Real Estate Results Network, a network of Australia's best agents, all wanting to share their knowledge and experience to help our team grow and succeed. We believe in helping our team achieve long term, successful real estate careers and are proud of the names we have created in real estate over our 30 years.

A company's recruitment strategy has a real implication on clients, and rather than the 'numbers game' strategy some companies have adopted to grow their sales team (employing a large number of agents knowing only a small percentage will work out), we believe in sustainable growth. We only look for new sales team members when we can see there are real opportunities for success. As a result of this, more than 59% of our sales team have been working with us for over five years and 35% over 10 years. Our clients know when they choose our brand that the agent working for them is experienced, passionate and committed to providing a memorable service and result.

If you are a real estate agent or know of an agent who is passionate about their job and looking to elevate their career, we would love to hear from you. For a confidential chat about current opportunities in our sales team please give myself or our Business Coach, Andrew Shields (Mob: 0475 101 022), a call this weekend. We would love to hear from you!

Thursday, April 14, 2016

Momentum in the north east

When a suburb or area experiences a dose 
of change, it is generally followed by a wave 
of activity from buyers wanting to move to the area themselves, or developers or investors ready to make the most of the anticipated upward shift in the market.

Recently there has been a noticeable boost in the north-eastern suburbs including exciting new infrastructure such as the Golden Grove Shopping Centre, and significant planning changes in the Modbury and Salisbury Heights area.

Parts of Modbury were recently rezoned, including five storey buildings now allowed in surrounding areas of Tea Tree Plaza, Modbury Triangle, Modbury Hospital and along North East Road and Smart Road near commercial zones. This is expected to encourage mixed-use developments including offices, shop fronts and apartments to the area. Additionally, property owners in Salisbury Heights have been given the 'green light' to subdivide parcels of land to as low as 650 square metres (depending on the slope of the land).

We are seeing first hand that the momentum from these changes is now building! Our sales team based at Golden Grove have seen an increasing number of enquiries about property in this area since the developments have occurred.

So who is most active in this area?

We are seeing established couples looking to settle with a sizable family home, and investors are also actively in the market in the $250,000 to $500,000 price range. With yields sitting around 4.7%, it's no wonder property investors are attracted to this area. The newer properties provide a low maintenance option for landlords, and tenants are loving the larger home sizes and affordability that the north east has to offer.

What type of properties are the most popular?

Medium size properties (between 600 square metres and 700 square metres) are in high demand as there are currently few available, as well as parcels of land. The mid-size allotments are proving to be popular as there is enough land to build a dream family home without needing to go to a second storey.

As a result of the changes in planning regulations and growing demand, we expect to see a noticeable link between the Salisbury Heights area and Golden Grove suburb as more people are drawn to the area and additional housing becomes available. This is a very exciting time as we see the north east area gain strong momentum and activity continues to increase.

If you are looking for either your ideal family home or a positive investment opportunity, then have a chat with our professional Golden Grove team today. Our team is knowledgeable and experienced in this area and they would love to help with your next property!

Suzannah Toop

Thursday, April 07, 2016

Is now a good time to sell?

One of the most common questions our team 
is asked from sellers in the real estate market is: 'Is now a good time to sell my home?'

Following the long weekends, Easter and the local AFL Showdown, some sellers have been worried about whether or not they should wait until the passing of these events to put their home on the market, concerned about the possible impacts they could have on their campaign.

The fact is... in a beautiful city like ours, there will always be something on! Just take a look back at March. We had the Clipsal 500, the Adelaide Fringe Festival, two long weekends and the Easter break. This month we have school holidays, ANZAC Day and not to mention Mother's Day just around the corner! On the surface these events may seem like a distraction to the market, but with the right strategy they can actually be the exact opposite and enhance a property's sale campaign.

It is our job as professional agents to be aware and recognise what is happening out and about in the community, and assess how this could influence buyer behaviours throughout the sale. Considering this and working strategically, can often lead to a very strong campaign.

The reality is, if you utilise powerful and emotive marketing techniques to capture attention and create a connection with buyers throughout your campaign, you will spark your target buyer's interest.

Once you have attracted and captured this interest, potential buyers will come to your open inspections, regardless of whatever might be happening or going on around them. If a buyer is truly interested... they will visit your home!

The key to ensuring this works successfully is to have an agent that understands the power of emotive marketing, understands what is going on in the community, and is able to construct a campaign specifically designed to make it easy for as many people as possible to see and visit your property. They must have the ability and mindset to leverage opportunities where more people than usual are out and about, such as long weekends and Easter.

At last weekend's Showdown, 51,585 people travelled to Adelaide Oval to watch the game, and thousands more from around the nation tuned in to watch on television. Team Toop specifically designed the weekend's strategy around the Showdown, and as a result we had a 100% clearance rate, meaning every single auction sold under the hammer that day!

We also had a very strong open inspection attendance with 768 buyer groups coming through our clients' properties. We have seen 
first hand that everything happening in Adelaide at the moment, has not impacted buyer demand for property. This was also evident throughout 'Mad March' as we had 481 new members join Adelaide's most active buyer pool in our ToopVault.

With the Reserve Bank of Australia announcing interest rates remained unchanged again this week, and Adelaide being tipped nationally as one of the steadiest residential real estate markets in Australia, we are seeing buyer demand still exceeding supply.

At Team Toop, we understand and recognise that by leveraging the great market conditions and strategic marketing techniques we are able to achieve fantastic results for our clients - both sellers and buyers - no matter what events are happening around our communities.