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Investor Report March 2014

By Ian Campbell

Market Update

The property market seems to have lost none of its heat as we head into autumn. Auction clearance rates for Sydney remained over 80% for the whole month of March. This compares with a 75 per cent auction clearance rate for mid March last year. Another indicator pointing to confidence in the market is the number of properties offered for auction. On a mid March weekend in Sydney last year 456 properties were offered while for the same time this year, the figure was 631 – up 38 per cent.

It seems unlikely the mood will change in the near future thanks to continuing low interest rates and good news on the local economy with the unemployment rate for NSW remaining steady at 5.8%.

Locally, we have noted good numbers at open houses and strong buyer interest, particularly for those properties which “tick all the boxes”.

In early April we will be offering a rare opportunity to purchase a magnificent Elizabeth Bay waterfront property in the prestige building Toft Monks. An enviable lifestyle is on offer with the apartment boasting three bedrooms , double parking and a highly sought after location in the Elizabeth Bay Road loop.

This landmark building has a live in caretaker, visitor parking, harbour swimming pool and new Marina facilities.

Landlord Insurance

Do you hold landlord insurance? For just a small outlay, landlord insurance delivers priceless peace of mind. While careful property management can guard against many negative situations, it can never offer 100% protection. Typically landlord insurance can provide protection against:

  • Damage due to fire or accident and loss of rent for a specific period due to the incident.
  • Default of rent by tenants or if the tenant vacates before the end of the lease.
  • Theft by tenants and the legal costs for action against the tenant for rent default or theft.
  • Deliberate or malicious acts by tenants or vandalism.
  • Contents insurance
  • Legal liability cover in the event that you are liable as a result of an incident that causes loss or damage to someone else’s property, or death or injury to other people.
  • In some states, the cover can also include workers compensation cover.

Remember that as a property investor, landlord insurance premiums are tax deductable. So if you do not have landlord insurance, speak to your property manager by calling our office on 9331 9600.

Up to Date

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