2452 Market Place Report - Summer edition 2014

Y O U R M A R K E T P L A C E R E P O R T

Summer Edition 2014

Featuring Sawtell, Toormina & Boambee East

Welcome to the Summer edition of the 2452 market report. Another year has passed and we are coming off the back of one of the best real estate selling seasons that the region has experienced in many years.

The end of 2013 saw some amazing selling results with exceptional sale prices being achieved across the region, mostly pushed by a significant shortage of properties being available for sale within the area.

In only the last month or two we have also seen some increasing interest in the high-end price ranges, with our office receiving genuine enquiry for properties over $1 million. There has not been a $1M+ residential sale in Sawtell since 2010. All promising news for the local market.

We hope you enjoy the summer edition, and that it assists you with your real estate decisions.

Tom Sullivan & Sue Lucas

welcome to our quarterly 2 4 5 2 m a r k e t u p d a t e

When selling in a competitive market, the process begins long before the front door swings open at the first open house. We all know the importance of making a good first impression. Well the same is true for your home. When buyers search for a home, there are two places they’ll often go before making it to an inspection, and it’s typically not to an agent. They will usually begin their search online, and then if they’re not currently living too far away, they may do a drive-by. Rather than worrying about what people are going to think, why not view these pre-inspection visits as opportunities to impress?

Making the most of your home’s street appeal is essential, as this could make or break a sneaky drive-by visit. You’ll need to decide how much effort is required to make your home appear inviting from the street – this could be anything from mowing the lawns, edging the garden beds and pulling out a few stray weeds, to a weekend working bee with all your family and friends. Our advice is to do what you can. At the very least your garden should be tidy, mown and edged. Your house number should be clearly visible, and all fencing in good repair. Make sure spider webs are swept

away and overgrown trees and shrubs and trimmed back to let the light in.

Now onto the big one – how your property will be appearing on the internet. It’s true, a picture says a thousand words, so it’s really important that the pictures we put on the internet to show off your property actually do show it off. The last thing buyers want to see when they check out an online listing is the owners mess strewn across each room. A good de-clutter, a clean and tidy, and minor repairs are all that’s required to prevent your home from scaring away potential buyers. There’s no need to spend lots of dollars on repairs, but if the curtains are torn, wardrobe doors have fallen off their tracks or light fittings aren’t looking their best, get these looking sharp before the photographer starts snapping.

For more tips on how to present your home for sale, please feel free to contact our office.

P R O N E W S

how to make a goodf i r s t i m p r e s s i o n

DONT UNDERSELL YOUR HOMEGive us a call, or shoot an email to [email protected] to receive your FREE copy of our Professionals Guide to Achieving a

Premium Price - 6658 8991

When it comes to choosing a home to live in we all have our own wish list - a double vanity ensuite, pool, large shed... However, when you’re choosing an investment property it’s a little different.

An investment property is bought for one purpose, to generate an income and appreciate over time. You’d be surprised by the number of people who go into investment properties with the wrong attitude, so we thought we’d share a few tips on how to get it right.

Look in the price bracket most people will be able to afford – to rent, and buy. Consider the fact that most tenants want to pay less each month for a rental home than they would for a mortgage. By choosing an investment property that’s not stretching your budget, you’re more likely to choose a property within the budget of others, and therefore not excluding buyers based on affordability.

Look in an area you’d like to live in. While tenants may not want to spend a fortune on their rental property, they will most likely want to live in the same area as you. Most people want to be closer to schools, public transport and shops, so buying nearer to facilities will help maintain the value of your home in a down market, and help its value to grow in a hot market.

Once you’ve bought a home that doesn’t break the budget, but that’s in a good spot, you can go one step further by adding instant value. Small repairs, a coat of paint, the removal of dated fixtures, and a freshening up of the exterior will add instant value to your new investment property.

If you’d like more advice about choosing the right property to add to your portfolio, or would like to know suitable properties for sale, simply contact a member of our team on 6658 8991.

h o w t o c h o o s e a n i n v e s t m e n t p r o p e r t y

There are a number of ways to search for a new home, but if you follow these tried & tested methods then you will have the keys to your new

home in no time.

Search Online - online property search tools provide a fast and convenient way to search for properties and you can even sign up for buyer alerts that help notify you as soon as properties come onto the market.

Talk to your local agent - let your local real estate agent know that you are in the market for a property and they will be able to inform you of properties that meet your criteria, usually before they are offered to the mass market.

Plan your weekends - if you’re going to head to open homes then it pays to keep an organised schedule and make the time to view the properties you’re interested in.

Stay Organised - after viewing a number of properties it can be hard to keep track of the pros and cons of each of them. It helps to keep a list of the properties you have seen and their features. If possible take photos too!

P R O T I P S

h o u s e h u n t i n g t i p s

Highest sale priceAverage sale priceMedian sale priceLowest sale price

24residentialpropertiessold

57propertiesfor saletoday

$677,000$348,636$340,000

$95,000

1 Oct - 31 Dec 2013

- S A W T E L L -

M A R K E T S T A T I S T I C S

1/21 Boronia St$485,0002 1 1Sold 10th December

Sold by Tom30 Eleventh Ave$677,0003 2 2Sold 24th October

land 1214m2

50 Royal Palm Dr$480,0004 2 2Sold 3rd December

land 683m2

1 Oct - 31 Dec 2013

- 2 4 5 2 -

4 Tom Albert Pl$420,0004 2 2Sold 20th December

land 776m2

Sold by Tom

12 Cunningham Cres$445,0003 1 2Sold 31st October

land 718m2

39 Circular Ave$435,0002 1 1Sold 8th November

land 638m2

16 Sixteenth Ave$410,0003 1 2Sold 1st November

land 986m2

2 Royal Palm Dr$382,0003 2 0Sold 16th October

land 813m2

47b Sixteenth Ave$380,0003 1 2Sold 20th December

land 955m2

1 Gillibri Cres$327,0002 1 1Sold 21st November

land 771m2

Sold by Sue

3/14 Elizabeth St$360,0002 2 1Sold 27th November

144 Lyons Rd$350,000

Sold 1st October

land 904m2

14 Dillon St$330,0002 1 0Sold 15th October

land 655m2

- S A W T E L L -

18b Coronation Ave$320,000

Sold 1st Octoberland 790m2

1/38 Elizabeth St$302,0002 1 1Sold 11th November

1/73 Boronia St$315,0002 1 1Sold 22nd October

4/19 Twenty-Second Ave$320,0002 1 1Sold 13th December

18 Fifteenth Ave$313,000

Sold 20th December

land 400m2

Sold by Tom

10 Eighth AveNot available yet3 2 1Sold 27th November

land 531m2

- 2 4 5 2 -

12 Elizabeth StNot available yet

3 1 1Sold 8th November

land 809m2

31/77 First Ave$95,0001 1 1Sold 3rd December

Sold by Tom

6/65 Boronia St$226,0002 1 1Sold 20th December

60 Royal Palm Dr$200,000

Sold 1st Novemberland 1261m2

10/134 First Ave$98,0001 1 1Sold 10th October

3/29 Sawtell Rd$439,0004 3 2Sold 20th December

18 McGregor Cl$410,0004 2 2Sold 4th November

land 714m2

23 Carrywell Cres$408,0003 2 5Sold 16th October

land 700m2

12 Tamarind Cl$397,0004 2 2 Sold 7th November

land 730m2




$540,000$334,268$327,500$185,000

1 Oct - 31 Dec 2013

- T O O R M I N A -


16 Corambara Cres$540,0002 1 1Sold 27th November

land 804m2

21 Eungella St$456,0004 2 2Sold 12th December

land 1094m2

23 Belbowrie Rd$385,0004 2 2Sold 12th December

land 698m2

18 Dolphin Dr$370,0004 2 2Sold 6th December

land 524m2

15 Amaroo Cres$355,0004 3 2Sold 10th October

land 961m2

2 Janari Cl$355,0004 2 2Sold 6th December

land 1002m2

23 Alleena Dr$330,0003 2 1Sold 9th December

land 809m2

4 Wave Cl$330,0004 2 2Sold 13th November

land 788m2

35 Platts Cl$390,0004 1 2Sold 27th November

land 684m2

27 Ramornie Dr$390,0004 3 2Sold 25th October

land 836m2

1 Oct - 31 Dec 2013

- 2 4 5 2 -

8/25-27 Wybalena Cres$325,0004 2 2Sold 14th October

8 Wave Cl$315,0003 1 1Sold 20th December

land 504m2

74 Toormina Rd$314,0003 2 1Sold 4th November

land 952m2

12 Misty Cl$298,0003 1 1Sold 4th November

land 562m2

3 Greaves Cl$295,0003 1 1Sold 22nd October

land 711m2

3 Bardsley Cres$293,0003 1 1Sold 11th December

land 699m2

4 Toormina Rd$283,0003 2 1Sold 6th December

land 739m2

8 Kintorie Cres$280,0003 1 1Sold 18th October

land 841m2

3/7 Werambie St$264,0002 1 1Sold 1st November

8 Scott Cl$237,5003 1 2Sold 2nd October

land 609m2

- T O O R M I N A -

9 Bonnefin Cl$265,0003 1 1Sold 11th November

land 716m2

Sold by Sue

2/22 Bardsley Cres$225,0002 1 1Sold 25th October

1/16 Wybalena Cres$225,0002 1 1Sold 2nd December

- 2 4 5 2 -

1/29 Wirrabilla Dr$185,0002 1 1Sold 10th October

59 Dews AveNot available yet

4 1 1Sold 3rd December

land 603m2

223 Sawtell RdNot available yet

3 2 4Sold 5th November

land 1441m2

10 Fortitude Pl$435,0004 2 2Sold 1st November

land 796m2




$496,500$376,850$367,500$289,500

1 Oct - 31 Dec 2013

- B O A M B E E E A S T -


6 Crescent St$459,0004 3 4Sold 10th October

land 995m2

Sold by Sue

45 Pepperman Rd$496,5004 3 2Sold 25th October

land 760m2

Sold by Sue

24 Worland Dr$435,0004 2 2Sold 20th December

land 803m2

6 Wedgetail Cres$432,0004 2 2Sold 11th December

land 868m2

3 Hibbard Cl$399,0004 2 2Sold 20th December

land 700m2

1 Oct - 31 Dec 2013

- 2 4 5 2 -

6 Lorikeet AveNot yet available

3 1 1Sold 28th October

land 1043m2

DONT UNDERSELL YOUR HOMEGive us a call

to receive your FREE copy of our

Professionals Guide to Achieving a Premium Price

6658 8991

8 Lorikeet Ave$461,0004 2 2Sold 10th December

land 737m2

Sold by Sue

21 Lady Belmore Dr$360,0004 2 2Sold 28th October

land 700m2

182 Linden Ave$349,0003 1 1Sold 1st November

land 663m2

11 Butterfly Cl$345,0003 1 1Sold 1st November

land 960m2

- B O A M B E E E A S T -

144 Linden Ave$438,0004 3 2Sold 21st November

land 1.2ha

Sold by Tom

9 Eckford Cl$380,0004 3 2Sold 25th October

land 448m2

6 De Castella Dr$375,0004 2 2Sold 30th October

land 798m2

274 Sawtell Rd$318,0003 1 1Sold 22nd October

land 1052m2

63A Soren Larsen Cres$312,0003 1 1Sold 28th October

land 426m2

2 View Dr$310,0003 1 1Sold 21st October

land 487m2

14 Meadow View Cl$293,0003 1 1Sold 12th November

land 356m2

9a Koel Place$289,5003 1 1Sold 20th December

land 963m2

1 Kestrel Pl$321,0003 1 2Sold 20th November

land 474m2

23 Borrowdale CresNot yet available3 1 2Sold 28th November

land 527m2

- 2 4 5 2 -

12 Kookaburra Cl$329,0003 1 1Sold 15th November

land 402m2

39 Ibis DrNot yet available

3 1 2Sold 1st October

land 811m2

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18 first ave, sawtell

6658 2599Cnr Hulberts Rd &Newcastle Dr. Toorminabeachscapes.com.au

There are a number of tax deductions that can be made on investment properties, but one type of deduction that can confuse property owners is tax depreciation. Some investors aren’t even aware of the considerable deduction that can go towards your rental property’s income.

The Australian Taxation Office (ATO) recognises that as a property ages and starts to wear out it depreciates in value. Because of this, the ATO allows property investors to claim a deduction on the depreciation of investment properties.

There are two types of tax depreciation that can be claimed:

1. Capital Works Depreciation: This is based on the historic building cost and is also known as the building write-off. It is a set annual allowance and is usually 2.5% or 4% of what the building originally cost to build excluding the cost of ‘plant items’. However not all properties can claim this allowance.

2. Depreciation on Plant: Most income producing properties are likely to be able to claim depreciation on plant, which essentially includes the removable assets of a building such as curtains, cook-tops, air conditioning and hot water systems for example. These items depreciate faster than the building and are therefore not based on the historic valuation of the building.

Overall what is being taken into consideration when a tax depreciation benefit is being calculated is the type of building, its age, use and fit out. If you obtain a tax depreciation schedule from either a local quantity surveyor or tax depreciation specialist, how much depreciation you are entitled to deduct each financial year will be laid out for you. And you can claim the cost of obtaining the tax depreciation schedule.

Tax depreciation for any investment property is most valuable for the first years of the property’s life, however can still be beneficial for older properties, so it can pay to find out what the depreciation is for your property.

I N V E S T M E N T T I P S

what ist a x d e p r e c i a t i on?

Cnr Hulberts Rd &Newcastle Dr. Toorminabeachscapes.com.au

shop 1 / 4 First Avenue, Sawtellph 02 6658 8991

Our focus is you.We hope you have found this market report useful in helping you make an informed decision on your real estate investment.

If you require any details which are not presented in this report our friendly team will be more than happy to ascertain the information on your behalf.

I wish to continue providing the residents of Sawtell, Toormina & Boambee East with up to date & relevant information regarding your real estate market, so keep an eye out for further reports over the coming seasons.

Kind regards,Tom SullivanLicensee

[email protected]

Documents

2452 Market Place Report - Summer edition 2014