REFINE SEARCH
Land Size: 578 sqm
38 Ackland Way Wyee NSW
$550,000 to $590,000 - Registered and build ready
Search Results for: land
And just like that Christmas is upon us and we are heading into the final month of 2023. November, like most months this year, has been an interesting one in our real estate world. An interest rate rise on Melbourne Cup Day at the start of the month led to a bit of uncertainty creeping back in and as a result we saw our general enquiry decrease as well as the number of attendees through our open homes. That said it’s still be a good selling month and we have achieved some excellent sales prices for our vendors. There has still been a steady flow of new stock coming to market and we expect that we will be making good sales right up until Christmas.
Our rental market saw a bit of a shift with our list of available properties growing significantly at the beginning of the month with plenty of tenants on the move. The rental demand however is quite strong with the majority of properties listed now being leased.
As some of you might be aware the NSW Government has proposed some significant rental reforms which were due to be released this year, it is now likely they will be released next year in 2024. These include;
- Abolishing no grounds termination notices and replacing with prescribed reasons for termination.
Some of the obligations being placed on landlords and consequences, including the inability to re-lease a property for 6 months are concerning.
- Tenants rights to have pets
Landlord must respond to the tenants request within 21 days. Pet applications being considered as part of the changes. - Portable Bonds
It is already in the Act that government can enact this, the question that remains to be answered is how it will work in a practical sense. Something to look forward to in 2024. - Excessive Rent Increases
We are all waiting to understand what the definition of Excessive Rent will be. Until that is released, it’s hard to understand what the full impact of this proposal may be. Another thing to look forward to in 2024.
On behalf of all the team at Coastwide First National, I’d like to wish you a Merry Christmas and a happy and safe New Year.
As a brief snapshot of our year to date, we have sold over 60 properties in 2022, with the median sale price at $780,000. Our average days on market sits at 50. We also currently have just over 20 houses for sale on the market.
Our highest sale price in 2022 was at 449 Old Maitland Road in Jilliby for $2.2m. Our highest residential sale price occured in June at 30 Washpool Crescent in Woongarah for $1,212,500, Our largest unit sale occured on Warner Avenue in May for $400,000.
On the rentals side, our property managers have leased more than 132 properties this year, with the median days advertised for rent at 15.5.
Thank you again for your ongoing support throughout 2022 and we look forward to a successful year in 2023.
CoreLogic’s latest Home Value Index shows that while the housing market downturn has evened out with an annual growth rate of 2.2% across the country, more fresh stock is being added – promising more choice for buyers this spring.
Compared with August 2021, 13.4% more fresh housing stock was listed for sale last month and the trend is running 6.5% above the five-year average.
Similarly on the Central Coast, we have experienced more stock coming to the market, giving buyers more options. We are seeing properties hit the market as vendors and landlords alike look to sell their assets in the wake of consecutive interest rate rises.
While this might appear daunting for people purchasing a property, as prices are continuing to soften, buyers are requiring smaller loans.
After gaining 40% during the pandemic, regional prices are dropping to catch up to the cities
Regional properties experienced strong price growth throughout the pandemic, but have now started to mirror the rates of decline being experienced across city real estate.
Values in regional areas were down by 1.5% in August, compared with 1.6% across the combined capitals. However, after gains of 40% between March 2020 and March 2022, this should hardly concern regional homeowners.
The largest falls in regional home values have tended to be in the areas that are closest to cities. This includes the Central Coast, and other areas that are the ‘most commutable’ according to CoreLogic. It’s no coincidence that these were the lifestyle areas that increased the most during the pandemic, so now there’s a predictable adjustment taking place.
Most owners well buffered against downturn
Across our capital cities and regional areas, home values remain 15% above the levels recorded in March 2020. The implication is therefore that most homeowners have a significant equity buffer before their home is likely to be worth less than what they paid.
With many homeowners having paid at least a 10% deposit and having paid down a portion of their principal, the risk of widespread negative equity remains low.
Housing prices are not anticipated to stabilise until interest rates find a ceiling and consumer confidence starts to improve.
That said, if you are a homeowner, your property is worth more than it was two years ago.
The awards recognise the achievements of First National’s NSW agents throughout 2021, with winners now competing for national General Excellence and Marketing Awards, which will be announced at the network’s annual convention in Bangkok, Thailand this May.
First National Coastwide, principal, Adrian Simpson, says the results show how tenaciously his staff have managed the ongoing impacts of COVID-19 to continue delivering excellence for the agency’s customers.
‘Nothing beats hard work and a commitment to delivering for customers. That is exactly what our staff did throughout the past 12 months’ Adrian said.
At the awards presentation, First National Coastwide received the following awards:
- The Elite sales office
- The Elite Investor Relations Management Office
Key staff members were also recognised for their individual performances
- Sarah Davis received the Elite Business Development Manager award
- David Manuelle received the Diamond Salesperson award
- Adrian Simpson received the Diamond Salesperson award
- Skye Le Marseny received the Platinum Award for Lifestyle Sales Commission
Adrian Simpson said the First National General Excellence and Marketing Awards are an important event as they as they encourage First National’s agents to aspire to an ongoing process of performance improvement that benefits customers.
Like many modern success stories, the First National Real Estate network traces its roots to humble beginnings.
Early in 1981, a small group of independent Victorian rural real estate agents met to discuss the possibility of forming an association to maximise the effectiveness of their business in the face of increased competition from large, franchised organisations. As a result of this initial meeting, a steering committee was formed and given the task of establishing the ideals upon which such an organisation would be based. On four key issues the committee was unanimous.
The association should:
- Develop leading edge marketing techniques and professional training to assure that customers would enjoy the best of outcomes
- Have the potential to develop nationally and internationally to provide its members with a powerful referral network
- Allow member offices to retain their independence, so they could continue to provide clients with local expertise, while tailoring their business specifically
- Seek the membership of only the very best agents in any particular town, suburb or country
With these broad goals in mind, the ‘First National Group of Independent Real Estate Agents Limited’ was incorporated as a not-for-profit public company limited by guarantee on 3rd December 1981, and the first Board of Directors elected on 16th February 1982.
A programme of national growth was launched immediately. To ensure consistent quality of service, however, the membership criteria was further refined and expanded, with only those agencies possessing the following qualities being considered:
- Integrity and proven expertise
- A flawless reputation
- The desire to provide exceptional service
- Progressive leadership in their area
- Commitment to the ideals of the network
- Commitment to ongoing improvement
- Right around the nation, the unique First National philosophy struck a chord with agencies and customers alike, with membership and sales rising steadily.
Today, First National Real Estate is Australia’s most advanced real estate network and the trademark ‘Swash’ is the country’s most recognised symbol for real estate. We have over 300 offices throughout Australia, New Zealand, and Vanuatu.
How can we help you with your real estate journey?
Tips for Tenants
Before deciding to rent a property there are a few rules and regulations that you need to take into consideration.
A Residential Tenancy Agreement or ‘lease’ will be drawn up and is the legal contract that both you and your landlord must abide by. A lease should include information such as:
- Location of the property
- Total rent
- Amount of the bond
- Commencement and end date of your tenancy
- The landlords’ name
Lease/tenancy agreements differ between states, so please make sure you have the documentation from your appropriate state.
Never sign a blank form if you do not understand something. Contact the correct establishments and ask for advice.
To download your free tenant guide click here.
Renting Information
Know your rights as a tenant
Before deciding to rent a property there are a few rules and regulations that you need to take into consideration. A Residential Tenancy Agreement or ‘lease’ will be drawn up and is the legal contract that both you and your landlord must abide by.
A lease should include information such as;
- Location of the property
- Total rent
- Amount of the bond
- Commencement and end date of your tenancy
- The landlords’ name
Lease/tenancy agreements differ between states, so please make sure you have the documentation from your appropriate state.
Tip: Never sign a blank form, if you do not understand something, then contact the correct establishments and ask for advice.
Know your responsibilities when renting
When renting, little problems can turn into big problems if you are not aware of who is responsible for taking care of the issues that may arise.
As a tenant you are obliged to do the following:
- Keep the property clean
- Not cause damage to the premises
- Inform the landlord asap if any damage is done
- Ask for the landlords permission to install fixtures or make alterations, renovations etc
- Avoid causing a nuisance to the landlord or neighbours
- Do not participate in anything illegal on the property
The landlord is obliged to:
- Keep the premises in good repair
- Ensure the security of the property by making sure all doors have locks and windows are secure
- Immediately provide the tenant with a key after changing any locks
- Avoid disturbing the tenant unnecessarily
Once you have signed a lease / tenancy agreement and paid a bond you should be provided with a Condition Report. This report records the condition of the property. Check this report carefully and immediately discuss any issues you may have with the landlord.
Tip: Photographs are a great way to record the condition of the property when you first move in. Keep these incase the landlord objects about returning your bond at the end of your tenancy.