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April 14th 2014
Have you seen the latest Market Update from Fletchers Whitehorse?
April 1st 2014
With an increase of inner-city apartments in Melbourne now up for rent, there are more properties available than tenants looking to move. The Australian Financial Review reports that investors are now competing with other property owners to secure a tenant, causing rental prices to fall.
It is important to note that this data is not an accurate portrayal of the overall Melbourne rental market, however it has been reflective in some areas with respect to the apartment market. Fletchers Director & Company Property Manager, Andrew Paterson, reports that his property management team have continued to grow from strength to strength. In 2013, Fletchers experienced our greatest demand and achieved the highest prices for rental properties to date. Currently, our vacancy rate sits at a low 1.2 per cent compared to the industry average of 3.4 per cent and we are about to expand our team to deal with the high demand for Fletchers Property Management Services across Melbourne’s east especially with the opening of our newest office in Maroondah.
The key to maintaining a positively geared investment property is undoubtedly to develop a well thought-out property strategy. The most effective way to do this is to gain the advice to people who understand the property market and dynamics in the area you are looking to invest. Our dedicated team of Business Development Managers have an extensive knowledge base on the rental market and have access to independent information on average rents, property values, demographics and suburb reports.
If you are looking to invest in the property market or would just like to have a chat about the rental market, please contact our Property Management team today.
April 1st 2014
The Reserve Bank decided to keep the cash rate on hold at 2.5 per cent for its seventh consecutive monthly meeting.
Reserve Bank governor Glen Stevens reiterated that we are likely to continue to see a period of stability in the cash rate, although policy makers are treading the line between considering higher borrowing costs to prevent a property bubble from forming in the future. Mr Stevens noted that property prices have risen significantly over the past 12 months, while credit growth is slowly picking up. It’s important to note that the belief amongst many economists is that while population growth remains higher than the growth in the supply of housing, we will not be in a property bubble.
The national economy is continuing to show signs of improvement and financial conditions remain accommodative. Banks are well placed to provide adequate funding to worthy borrowers and many Victorians have seen this as an ideal opportunity to increase their property portfolio.
Investor participation in the property market is at a seven year high with 37 per cent of new home loans granted are to investors. Mark Hewitt, General Manager of Sales and Operations at AFG noted that investors have been driving the market for the past twelve months.
The Board believes that today’s decision is the most effective approach to foster sustainable growth in demand and inflation within the set targets.
March 27th 2014
We are thrilled to announce that Fletchers has expanded our network into the Yarra Ranges with three new offices in Olinda, Tecoma and Monbulk. These offices are led by market leaders, Scott Allison and Glenn Gardiner who bring a combined 45 years of real estate experience and a wealth of local area knowledge.
The three offices will predominately service the suburbs of Olinda, Tecoma, Monbulk, Belgrave, Kalorama, Sassafras, Upwey, Kallista, Silvan, Mount Dandenong and Ferny Creek and will easily extend throughout the Dandenong area.
Fletchers brings to the Yarra Ranges award-winning professionalism and world’s best practise skills developed over more than 95 years of experience in one of Australia’s most competitive property markets. Director & Auctioneer Scott Allison describes the move as “a natural progression and the next logical step for the evolution of our business, which will allow residents to further benefit from our dynamic market coverage and state-of-the-art facilities”.
The offices have an established rental department consisting of four dedicated Portfolio Managers and administration support that is already equipped for further expansion. The enthusiastic sales team currently consists of five vibrant sales agents, each with extensive property knowledge and strong ties to the local community. Director & Auctioneer Glenn Gardiner describes his team as “immensely capable and eager to take on new challenges”.
Fletchers CEO Bradley Brown believes that “the Fletchers network offers significant advantages to local residents through our established eastern and inner suburb base, where many clients already own or aspire to own properties in this beautiful part of Victoria”.
We are delighted to provide our local knowledge, integrity, quality service and commitment to the Yarra Ranges region and the team look forward to assisting you with all of your real estate needs.
The Yarra Ranges Team