Recent News

Sales are down as buyer confidence wanes. Meanwhile rents are rising – it’s an investor’s market

Sydney property sales have been low during this quarter, particularly for houses. Commencements of new dwellings have also continued to fall. At the same time the rental market has tightened with vacancies at all-time lows and rental values climbing in most areas. Sydney’s Inner-West and CBD rental demand has increased, sparking investor interest amid an overall decrease in buyer confidence. While some buyers such as first home owners have been leaving the market there remains a significant shortage of dwellings into the future. Essentially this is all good news for property investors, particularly owners of Sydney apartments.

How do I know if I’m ready to buy my next investment property? Certainly market figures suggest that the right opportunity may be available now or soon. Speak to your accountant, financial advisor or CPS Property and update your investment plans now – the more specific and prepared you are the better the chance of success. Remember also to have the flexibility to cater for the changes and challenges that the real estate and financial markets may present.

Share your objectives with your property manager or real estate agent – it could be that they have the right opportunity without the extra legwork. At CPS Property we want to be sure that all our clients are meeting their best possible financial outcomes through good management and the right investments.
 

CPS Rental Market

I am pleased to advise that the average rent across our managed properties has increased from $508/wk to $539/wk since the start of the 2011 calendar year. This is due to both increased rental demand and great negotiating by our property managers

Our vacancy rate is currently 0.69% compared the REINSW figure of 1.5%. Additionally our September quarter 2011 vacancy rate is less than half of our September 2010 quarter figure of 1.51%. Rental arrears rates are consistently less than 2% (very low by industry standards). These are just a few examples, with many more also achieved by our team.
 

Important Legislative Changes

Stamp Duty Exemption for downsizing “empty-nesters”. The NSW Government will extend the principal place or residence stamp duty exemption to ‘seniors’ between 55 and 65 years of age. Currently the exemption is only available to persons who are 65 years of age or older. The Duties Amendment (Senior’s Principal Place of Residence Duty Exemption) Bill 2011 has been passed and was assented to on 18 May 2011. It will come into effect on 1 July 2011.
 

New Staff

Stewart Flecknoe-Brown has joined the team. Stewart is a licensed real estate agent and also holds a Bachelor of Arts. With a background in business to business service sales and delivery as well as local government property & finance, he is excited to be helping CPS Property clients with property management and property investment queries.
 

Refer Us

CPS Property’s investment advice, buying and management services work alongside accountants and financial planners to achieve the best possible outcome for our investors. Please forward our newsletter to your financial advisor or accountant so we can keep them informed on successful property investing.