News

Investor Report November 2014

By Ian Campbell

Happy Holiday Season

The team at Ray White Elizabeth Bay would like to wish our clients a very happy and safe holiday season. We would also like to take the opportunity to thank you for your continued support. Our office will close on Tuesday December 23 at 5.30pm and reopen on Monday January 5, 2015 at 8.30am. Should any urgent matters arise during this period, tenants and landlords should refer to their lease for a list of appropriate contractors to handle the situation. If the problem cannot be resolved, please call George Lambrou on 0418 577 571.

Plan now for the 2015 Property Market

If your New Year’s resolution is to make changes to your property portfolio, contact our helpful sales team today. We can put plans in place now so your campaign starts at the earliest possible opportunity in 2015. Perhaps you are downsizing or moving to something larger or maybe you are considering expanding your property portfolio? Some clients might be interested in an up-to-date appraisal or advice on various real estate options. Whatever your needs, our team are happy to use their expert knowledge to offer advice for your plans in 2015. Call our office today and ask to speak to our sales team on 9331 9600.

Airbnb upsets neighbours

While Airbnb may be a hit with travellers and owners looking to make money out of a spare bed, others aren’t so enthusiastic. The short term letting site hit the headlines recently with Fairfax media reporting an apartment building in Rushcutters Bay wants to ban Airbnb in their building. Residents are tired of travellers – attracted by the proximity of Kings Cross nightlife – continuing the party around the communal swimming pool. And they aren’t alone. A growing number of strata committees – particularly those close to the city – want to ban Airbnb. The report also noted the importance of adequate insurance to cover possible damage bills. Meanwhile, if a renter is injured and any public liability cover is voided, the costs could be huge.

Record auction numbers

A record number of properties flooded the Sydney market for auction in November. Approximately 5000 properties were auctioned during the month but open house attendances were down along with the clearance rate. Domain Group’s senior economist Dr Andrew Wilson told Fairfax Media a long period of soaring prices, coupled with a soft economy and flat wages had pushed buyers’ affordability to its limits.

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