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Investor Report August 2015

By Ian Campbell

Sydney Property Market Steady for Spring 

After a hot winter, it seems a more rational mood is emerging in the Sydney property market as we head into spring.

Auction clearance rates in the city have dropped in the last weeks of winter to around 75 per cent – well down on the record high of close to 90 per cent in May.

But it is important to remember the drop in the clearance rate coincided with a flooding of property onto the market.

Domain Group Senior Economist Dr Andrew Wilson told Fairfax media recently other factors causing the dip could include the newly introduced higher interest rates for investment loans, stagnant wage growth and the lack of further interest rate cuts on the horizon.

Despite this, demand is still strong in our area where stock levels remain low. While the market may have taken a breather recently, many experts expect Sydney real estate sales to stay upbeat for the foreseeable future.

Pets in Apartments

The recent legal victory allowing dogs in the heritage listed Wylde Apartments in Potts Point has posed a question of where pets live the happiest, houses or apartments?

The experts believe one is no better than the other. TV vet Dr Katrina Warren told Fairfax Media that in New York she discovered many pet owners use creative ideas to enrich their pet’s environment including runs and climbing platforms, food dispensers and chew toys.

Animal behaviourist Dr Joanne Righetti says while it’s great to have a backyard for pets, regular walks for apartment dwelling animals can overcome this issue. And experts agree all pets – whether they live in a house or apartment – need walks.

Most new apartment blocks are now pet friendly and it seems many older blocks are following in the footsteps of Wylde Apartments in bringing out the welcome mat for our four-legged friends.

St Vincent’s School Fair

A fun day was had by all on Sunday August 23 at the St Vincent’s School Fair, with threatening rain thankfully holding off. Once again, Ray White Elizabeth Bay was proud to be the major sponsor of this fantastic local event and thanks to all those who dropped by our stall to say hello. A big congratulations to the winners of some special local prizes which we drew on the day, 100 free coffees from the fantastic Gypsy’s Coffee, two $200 delicious dinner vouchers, one for the Apollo Restaurant, the other for Cho Cho San Restaurant and two double pass ticket vouchers for Darlinghurst Theatre.

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