10 Sturdee Parade, Dee Why, Sydney 2099

Dee Why Grand - Plaza Building, corner Pittwater  road and Sturdee Parade

FOR LEASE: 10 Sturdee Parade, Dee Why, Sydney

THIS PROPERTY HAS BEEN LEASED!

Property for lease: 1 bedroom, 1 bathroom, 1 car space

Rent: $490 per week

Bond: $1,960

Availability: From 29 October 2010

This north-east facing one bedroom apartment is located within the brand new Dee Why Grand apartment complex in the northern beaches of Sydney.

Features:

  • Split-level apartment will private balcony and district water views of Dee Why beach
  • Living areas open to balcony over-looking internal gardens
  • Private study area with internet connection on upper level
  • Bedroom with built-in-robes and private balcony
  • European and gas kitchen appliances
  • Enormous total living area of 81sqm

Facilities:

  • Gymnasium, spa and 25-metre outdoor swimming pool
  • 2 sqm separate storage facility in basement
  • Underground secure car space with swipe card system
  • On-site building manager and 24-hour security

Conveniences:

  • 1-minute walk to retail and shopping facilities in Dee Why Grand complex which include Coles, Harris Farm, local butcher, green grocer, seafood, medical centre, post office and banks
  • 800 metre to the sand and rolling surf of iconic Dee Why beach, cafes and restaurants
  • 10-minute drive to Warringah Mall Shopping Centre
  • 30-minute drive to Narrabeen lakes and attractions in Palm Beach
  • 25-minute drive to Sydney CBD via Spit Bridge and Sydney Harbour Tunnel
  • Express bus service to Circular Quay

Lease application form: Download copy

Contact: Mr Albert Wong, mobile 0413 660909

First home buyer mortgage stress spreading across Australia

A new report from the National Centre for Social and Economic Modelling found that housing affordability problems are spreading all over Australia with some startling statistics where 47% of first home buyers are now spending over 30% of their income on housing repayments, up from 43% in 2000. This figure is expected to increase in the near future.

NATSEM
principal research fellow Ben Phillips says Melbourne and Brisbane have been previously thought of as more affordable than Sydney but this has all but changed. “The main finding was that home buyer mortgage pressures in other parts of the country have caught up with Sydney. The figures show that in Mebourne, 53% of first home owners are now paying over 30% of their income towards housing repayments compared to just 36% in 2000. In Brisbane, that figure has jumped from 53% to 58%, well above the Sydney figure of 56%, which has remained the same.

In response to readership request and the mounting issue of affordability, we have updated our report – Top 5 Melbourne suburbs for houses under $700,000. This 23-page report identifies key investment propositions in five Melbourne suburbs which are within close proximity to the CBD and have good public transport links and amenities but have yet experience the surge in price compared to its neighbouring suburbs. It contains Google map links and hyperlinks to councils, schools, hospitals and emergency services. More importantly, key investment propositions for each suburb are analysed and discussed together with median prices, annual, three and five year growth and rental yields.

Macquarie Telecom announces $60 million North Ryde data centre

Investment guide to three evolving sydney suburbs (cover) The announcement two days ago that telecommunications hosting giant Macquarie Telecom plans to construct a new $60 million data centre facility in Sydney’s North Ryde after securing a land deal for $10.8 million further exemplifies the evolving facade of North Ryde.

In response to the changing environment of these three suburbs, we have updated this 21-page report to cover key investment propositions for residential property investors. Such factors include the increasingly blurring gap between commercial, retail and residential developments and how investors are taking advantage of mixed-used developments where increased conveniences and public amenities means more quality time for the family. New transport links are also creating strategic investment opportunities which are not immediately obvious.

Savvy investors recognise the increasingly competitive tenant market (notwithstanding record low vacancy rates in certain popular suburbs) and how extra amenities and the growing need to be closer to our workplace is changing the way we think about property investment. In response to this changing trend, I have also written a post about investment strategies to tap the benefits of mixed-used developments which is becoming a stronger trend, particularly in Sydney and Melbourne.

Related post:

Leading Real Estate Agents in Orange, New South Wales


Orange has recently been identified by leading property analysts to be the next booming regional city in the Central West of New South Wales.

This 27-page Property Investment and Tree Change Guide is jam-packed with information about:

  • Demographics – population growth, household income, type of jobs, resident profiles
  • Key investment propositions – why you should consider investing in Orange real estate
  • Median home prices – annual, 3 and 5 year growth rates, rental rates and yields
  • Key industries – gold mining, health care, education, tourism and agriculture
  • Booming businesses – tourism, hospitality and wine making industries
  • Interview with Stephen Sykes, Chair of Evocities – why Orange is a great place to live
  • Contains 100 URL hyperlinks for easy reference to:
    • Employment agencies and job-seeker sites
    • Leading real estate agents, their websites and all contact details
    • Solicitors, accountants, brokers, conveyancers
    • Architects, builders, plumbers, electricians and tradespoeople
    • Google maps for location analysis and street views
    • Council, schools, hospitals, emergency services and other public amenities
    • Local food, dining, fresh local produce and providore businesses and clubs
  • Picture gallery – photographs on lifestyle, places of attraction, food and wine and many more

EXTRA: Research spreadsheets – Excel spreadsheets with key demographics from the Australian Bureau of Statistics

Make sure you are equipped with this interative property investment tool before you go on your property hunt.

Find out more about Orange – the sweet heart of New South Wales here.

Take advantage of the professional services of leading real estate agents in Orange for your property investment and management requirements.

Blowes Real Estate Gary Blowes, Principal
245 Summer Street, Orange, NSW 2800
Ph: 02 6362 1233 Mobile: 0418 635 248
Chris Gryllis Real Estate Chris Gryllis, Principal
312 Summer Street, Orange, NSW 2800
Ph: 02 6362 5999
Century 21, Orange, New South Wales Paul Cox, Proprietor
180 Lords Place, Orange, NSW 2800
Ph: 02 6361 8433 Mobile: 0419 262978
Elders Real Estate Orange 123 Peisley Street, Orange, NSW 2800
Ph: 02 6361 8249
Harcourts, Orange / Molong Darryl Ford, Managing Director / Business Owner
28A Sales Street, Orange, NSW, 2800
Ph: 02 5310 6166
John Cook Estate John Cook, Principal
153 Lords Place, Orange, NSW, 2800
Ph: 02 6361 0133
LJ Hooker Orange Pat Cutcliffe
23 Sale Street, Orange, NSW, 2800
Ph 02 6361 7622 Mobile: 0417 481 158
McCarron Cullinane Peter Eccleston, Principal
119 Peisley Street, Orange, NSW, 2800
Ph: 02 6362 4755 Mobile: 0427 026 306
McCormack Barber Peter McCormack, Director
5/18 Sale Street, Orange, NSW, 2800
Ph: 02 6362 6566
Peter Fisher Property shop Graham Ridley, Principal
39 Sale Street, Orange, NSW, 2800
Ph: 02 6363 1000
Peter Mitchell Property Management Peter Mitchell
241 Lords Place, Orange, NSW, 2800
Ph: 02 6362 9966
PRD Nationwide Orange Nigel Strutt, Principal
Corner Sale and Summer streetsOrange, NSW, 2800
Ph: 6393 5700 Mobile: 0427 824 211
Raine & Horne Orange Roger Eddy, Principal
206 Lords Place, Orange, NSW, 2800
Ph: 02 6362 1366 Mobile: 0419 625 196
Ray White Orange 26 Sale Street, Orange, NSW 2800
Ph: 02 6362 0211
Toner & Associates Greg Toner, Licensee in Charge
211 Anson Street, Orange, NSW 2800
Ph: 02 6362 8386
Williams Machin Real Estate John Rowland, Director
37 Sale Street, Orange, NSW, 2800
Ph: 02 6362 6966

Affordable waterfront and resort style living

FOR SALE: 732/4 Marquet street, RHODES, Sydney

FOR SALE: 732/4 Marquet street, RHODES, Sydney

Property: 732/4 Marquet street, Rhodes, Sydney

Asking price: $590,000

2 bedroom, 1 bathroom, 1 car space

Unit 732 at 4 Marquet street, Rhodes

Unit 732 at 4 Marquet street, Rhodes

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Located on the eastern side of the Rhodes peninsular, this apartment is part of Meriton’s Sienna By the Bay development which was completed two and a half years ago.

Homebush Bay at Rhodes

Homebush Bay at Rhodes

Why I like this property:

  • Near new apartment of two and a half years old with mod cons
  • The floorplan has good design and use of space with an east facing balcony
  • Toilet separated from the bathroom with hand basin doubles as powder room for guests
  • 24-hour security and on-site building manager to attend to maintenance and service for occupants
  • secured car space with separate 4 sqm storage cage facility
  • Strong maintenance and service level by Meriton ensure immaculately kept gardens, gymnasium, pool, sauna and spa for residents
  • 3 minute walk to water foreshores of Homebush Bay
  • 3 minute walk to Rhodes train station which is 6 stops to Central station in the heart of Sydney CBD
  • 5 minute walk to the conveniences of childcare, banks, post office supermarket and shops at Rhodes Shopping Centre
  • Located within the Rhodes Business Park precinct which now includes multinationals such as Hewlett Packard, National Australia Bank, Nestle, Australand, Unisys, Alcatel Lucent and Lion Nathan which would provide strong tenant proposition for investors.
  • Public amenities and local attractions which include water foreshore parks like McLiwaine Park, King George V Park, Bicentennial Park, Kokoda Track Memorial Walkway along Brays Bay Reserve, Sydney Olympic Park facilities and Concord Repatriation General Hospital.

Agent: Ross Musso of Raine & Horne Concord. Ph 02 9736 3877 Mobile 0413 093 139

The video below illustrates the conveniences of this property:


Affordable Sydney suburbs – do they still exist?

Three affordable sydney suburbs

In the midst of searching for that ideal inner city suburb in Sydney, many home buyers and investors have overlooked certain suburbs which are relatively low profile or better still, unheard of.

Consider these suburbs for example – Wareemba, Narraweena, Banksmeadow and Turrella. These suburbs are not often spoken about either by home buyers, investors or real estate agents.

Wareemba is a small suburb next to the more high profile Abbotsford and Breakfast Point where there are million dollar water front properties. Narraweena is in the northern beaches next to Dee Why. Although it is inland, it is relatively more affordable than its neighbouring suburbs. Banksmeadow is near Sydney airport and is often confused with Meadowbank.

The report above identifies three suburbs in Sydney which are relatively low key but are very affordable at under $700,000.

First home buyers will find these suburbs as viable options because of the following issues:

  • Relatively affordable and help get them “a foot in the door” whilst beginning to own a first home
  • Great location under 15 km from Sydney CBD
  • Strong capital growth upside whilst they start their property investment cycle
  • Good public amenities and conveniences, transport links into the city

Investors will like these suburbs because of the following issues:

  • Solid tenant propositions due to proximity to the CBD, public amenties and transport links
  • Strong private investments into the suburb
  • Strong capital growth upside due to on-going gentrification and strong price growth of neighbouring suburbs.
  • Relatively low vacancy rates
  • Good potential and opportunities to upgrade, renovate, create equity and wealth

The Ugly Truth behind Housing Affordability

Housing affordability in Australia

Successive interest rate hikes and surging home prices in 2009 and early 2010 have brought housing affordability close to a record low in the June 2010 quarter.

“There has been a dire lack of commitment in this Federal Election campaign to address the substantial hurdles aspiring home owners face. Helping Australians afford a roof over their head is surely a fundamental responsibility of government” said chief economist of the HIA Harley Dale.Housing Affordability Index 2010

“As housing affordability slips away, so too does the chance for many Australians to realise their dream of owning a home,” Dale added.

The HIA / CBA Housing Affordability Index, which combines interest rates, household income and home prices to determine affordability conditions,  fell by 9.5% over the June 2010 quarter across the nation’s capital cities and was down by 6.7% in regional Australia. The largest falls were:

  • Sydney                      -9.1%
  • Regional Victoria      -9.0%
  • Regional Tasmania    -8.8%
  • Adelaide                   -8.7%

First Home Buyers dilemmaHousing affordablity in Australia

First home buyers are again facing the brunt of surging home prices, rising interest rates and the end of the First Home Owner’s Grant last year. Already facing the prospects of further interest rate rises next month, this group of buyers are often confronted with whether to delay buying, if at all affordable even in the current market which appears to be slowing down after the bull-run last year. Saving for a deposit may sometimes appear totally futile when home prices are surging faster than income growth.

The Ugly Truth

Many first home buyers now comprise X and Y generation young professionals who may have double incomes and a young family. Compared to their baby boomer parents a generation ago where single income was the norm, then surely these couples can afford to buy a first home. However, home prices in Australia have grown at a much faster pace than wages and those home buyers and investors who invested fifteen years ago would have seen solid capital appreciation and soaring prices for their properties.

There is always a lesser urgency to buy for those investors who have already made tidy profits and have the luxury to scout for bargains with some built-up equity in the pocket. In contrast, first home buyers feel the urgency but are yet unable to get into the market due to crippling prices and will continue to be squeezed out of the market.

Investors will continue to scout to increase their wealth and unless first home buyers act wisely, the ugly truth about the rich getting richer and poor getting poorer as in most developed nations will perpetuate.

Implications for first home buyers

Most of the young first home buyers have grown up whilst living with their parents in inner city suburbs in major capital cities around Australia. These choice locations have accorded a certain way of life, familiarity and experience to these young people who would continue to aspire to live close to the CBD and within choice locations.

Unless they receive financial help from parents or join efforts with siblings and friends, it is extremely difficult to find Housing affordablity in Australiaaffordable housing because these choice locations with fond memories embedded are now almost unaffordable if loosely compared to average national wages of about $65,000.

There is no one simple solution for first home buyers. As the most popular locations within major capital cities where supply is scarce and demand continue to be steady and consistent, property prices will continue to rise. First home buyers may have no choice but to settle for suburbs which are slightly further away from the most popular areas and get in first. This may mean longer commuting times, relatively less public amenities and further distances from family and friends. On this same note, I believe that first home buyers cannot afford to continuously “aspire” without a commitment to action, which involves studying and researching about second and third-tier suburbs with the eventual intention of purchasing.

The fundamentals of eventually getting to that choice location have changed and may involve more creative avenues.

Check out Special Reports

Top 4 Sydney undervalued cover page

Related posts:

Aussie dollar hits parity with greenback

Australian currency

Purchasing power - Australian currency in strong demand

The Australian dollar has hit parity with the US dollar for the first time since it was floated in 1983. The last time the little Aussie battler was at parity, Bjorn Borg was retiring from tennis, the former Soviet Union shot down a civilian Korean Airlines flight 007 for violating its airspace, Bob Hawke was elected Prime Minister and Prince William was born.

The last time the Australian dollar was poised to hit parity was back in 2008 just before the Global Financial Crisis when it was trading at 98.5 US cents. As the GFC unfolded and Lehman Brothers went under, the dollar dived to a low of 60 US cents.

Height of power - Borg in the early '80s

Height of power - Borg in the early '80s

Developments in the US

The continued weakness of the US economy prompted the US Federal Reserve Chairman Ben Bernanke to give the strongest indication that further action is required to stimulate the US economy.

.

These measures would most likely involve an expansion of the monetary base, commonly known as “printing money”. This overnight development pushed the local currency to a high of 1.0003 US dollar for a brief spell before easing back to its current level of 98.9 US cents to end the trading week.

A$ & US$ trend What does this mean for local Aussie investors

The dramatic rise of the Aussie dollar over the last few months would mean little for local home owners and investors who own Australian property and derive all their income from Australian sources. In order to capitalise on the strength of the Aussie dollar, they would need to leverage by liquidating Australian assets and purchase overseas good and services which have now become relatively cheaper.

It is certainly a great time for Australians to go on holiday overseas as the strength of the dollar would buy a lot more relative to a few years ago.

Tropical paradise - Balinese villa by twilight

It is also a great time to revisit the proposition of owing that dream Balinese villa when our dollar could stretch so much more, especially in Asian countries where our currency now commands greater respect than ever before.

There are already strong signs that Aussie expats overseas are beginning to sell choice Australian properties to invest elsewhere and this could spell further softening at the top end of the market. The Lochtenberg family who is based in New York have listed 14 Notts Avenue in Bondi Beach with hopes of $8 million plus. The 210 sqm modern apartment overlooking Sydney’s most famous beach was bought for $2.852 million in 2000 and has been rented out for $2,500 a week.

14 Notts Avenue Bondi Beach

FOR SALE: 14 Notts Avenue, Bondi Beach

Impact on corporate Australia

Investors in the equity markets are already bracing for some bad news from some of Australia’s biggest multinationals which have exposure overseas. The impending reporting season will be dampened by exporters and those with significant investments offshore as the strength of the dollar means lower profit forecasts which may ultimately impact share prices.

CSL, the global pharmaceutical company has already issue warning to shareholders that its bottom line could take a $100 million hit due to the strength of the dollar. Goldman Sachs strategist Chris Piddock said the number of Australian companies which are likely to issue profit downgrades over the next few weeks to be the highest over the last five years apart from the period during the GFC.

Corporations involved in agriculture exports, tourism and education may experience a slow down as the dollar drives a wedge between cost competitiveness.

Chief executive of the Australian Shareholders’ Association Stuart Wilson said many companies will focus on risk management and hedging strategies to cope with possible fluctuations in currency and offshore exposure. Companies with large offshore exposures such as the Macquarie Group, Computershare, Ansell and Fosters may be susceptible to profit downgrades.

However, the caution would be to have guided constraint before you pop the champagne on that parity party. The Australian dollar despite its sudden rise to dizzy heights, is still dependant on how world events would unfold such as the crisis in the leading European economies, the US and our trading relationship with China, India and other leading partners. All these events to a large extent are beyond the control of the Reserve Bank and the Australian government. Indeed, the threat of further interest rate rises in the local economy is ever more imminent to control the strength and growth of the local economy.

It should be noted the recent long term average of the dollar is US 75 cents. Being a speculative currency in the eyes of fund managers, the dollar may retreat on the back of a slowing world economy or it may power ahead and beyond parity and stay above the US 1 dollar mark for a long while. In the absence of stronger evidence, Bali is still a great holiday destination to stretch your Aussie dollar but you might still want to hold back and check into that villa and keep dreaming of owning it one day.

Related post

Orange – the sweet heart of New South Wales

Orange - the sweet heart of New South Wales

Orange has been in the media spotlight recently, with research citing that one in four Sydneysiders would consider a permanent tree-change to regional centres, according to ABC News on 22 September 2010.

This 27-page Property Investment and Tree Change Guide is jam-packed with information on:

  • Introduction to Orange – demographics, climate, quick facts
  • Evocities Campaign
  • Key Investment Propositions – why should investors consider real estate in Orange
  • Best locations to invest in Orange
  • wealthruproperty.com interview with Mr Stephen Sykes, Chairman of Evocities - what makes Orange unique
  • Hyperlinks to schools, hospitals, council, employment agencies and major commercial businesses - medical practitioners, accountants, mortgage brokers, solicitors
  • Lifestyle and places of interest
  • Major industries
  • Google maps for location analysis and ease of reference and research
  • Photo gallery - people, real estate, lifestyle, food & wine

Related articles and posts:

Northern seachange city loses to Melbourne’s west

The switch in population growth hotspots on the Australian continent has been gradual but inevitable. The glamour hotspot of Gold Coast in Queensland used to be the nation’s fastest growing region for decades due to the allure of sunshine, sea breeze and the carefree lifestyle which makes a beautiful setting for a retiring generation.

However, the new “fastest growing region in Australia” is no longer in Queensland or anywhere near the coastal regions of Australia. The baton of high population growth has now been passed to a region in Melbourne’s west, where the municipalities of Wyndham (formerly Werribee) and Melton added 18,000 residents over the year to June 2009. In comparison, the best the Gold Coast could manage in the same period was 17,000.

KPMG demographer Bernard Salt
reckons sea change locations are still important because we all long to be close to the coast and the idyllic lifestyle these locations have to offer. The allure of Werribee and Melton is certainly not lifestyle because the property industry has recently found a new best friend in the name of affordability.

Many project home builders are undertaking new house and land packages in these two suburbs where prices for a home on approximately 550sqm start at about $260,000 in Melton. The slightly more expensive suburb of Werribee and Wyndhamvale have packages for $280,000. Based on these prices compared to other major capital cities across Australia, Salt believes the fundamental shift in people’s mindset is towards affordable housing and to be more realistic about the eluding ideal of living in choice locations. In the year to June 1999, Wyndham and Melton added a mere 4,000 residents. Therefore, the western edge of Melbourne is seen to have exploded into prominence in less than a decade. This sudden growth in demand is creating business opportunities, especially in property around the industrial area of Laverton and the residential suburbs of Point Cook, Truganina, Tarneit, Caroline Springs and Melton South where private and government investments in retail and commercial developments in the form of new shopping centres and mega-stores for bulky goods are underway. The addition of 18,000 new residents to Wyndham and Melton in 12 months supports the demand for 6,000 new dwellings that have to be designed, financed, constructed, furnished and inhabited in a single year. Allowing for a modest loan of $200,000 per dwelling, this growth equates to an annual mortgage market worth $1.2 billion.

The rate of growth also means that each year, Wyndham and Melton must yield no less than 6,000 new refrigerators, televisions, cook-tops, washing machines and all the furnishings peripherals that is required to set up a new household. It doens’t just end here because 18,000 new residents will also bring $180 million worth of retail spending to the local and regional shopping centres. Based on 2006 census averages, the addition of 18,000 new residents to Wyndham and Melton prompts immediate demand for 140 registered nurses, 110 primary school teachers, 25 general practitioners and 8 dentists. Melbourne’s 170-year history is a city predicated on development and maturity to its eastern regions through generations of local and long-time Melbournians. Perhaps it is the new-comers to this beautiful city with a fresh outlook that is pointing the way towards a region that can provide such good value for money to begin a new life journey.

The article above are excerpts from an article by KPMG demographer Bernard Salt in The Australian, 14 October 2010

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Download Free – Melton South Location Report

Location Report - Melton South

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