Mona Vale Blog

Sales Market

Property owners considering an autumn sale are poised for success, as data from Raine & Horne reveals a 25% year-on-year surge in open-for-inspection attendance across Australia.

This news arrives against a backdrop of robust annualised double-digit returns for Australian real estate, with Perth boasting an impressive 18.3% and Brisbane nearing 16% in annual capital growth.

While the Formula One in Melbourne dominated headlines recently, it's also an opportune moment to highlight the significance of a well-maintained garage and its impact on property value, particularly for those contemplating a sale this autumn.

In some cases, a garage can substantially elevate the sales price, with potential buyers willing to pay up to $100,000 extra for the assurance of a secure parking space.

Keeping the spotlight concentrated on the exterior of our properties, this month, we also look at the importance of a flourishing backyard and garden to prospective buyers. An attractive garden attracts buyer interest and can augment a home's value significantly, with some experts suggesting that quality landscaping can improve a property's value by up to 25%.

However, maintaining a low-maintenance garden is imperative. If outside areas demand extensive upkeep, it may deter potential buyers.

If your property has any of the abovementioned features, it is worth contacting us on 02 9999 0800 to discuss your market advantage and what your property is currently worth, this is an obligation free process.

Investor/Rental Market
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Investors eyeing a pre-winter sale find themselves in a promising position, with open for inspection attendance surging by 25% year-on-year across Australia according to data from Raine & Horne. This comes at a time when annualised returns from Australian real estate are approaching double digits, with Perth producing a whopping 18.3% followed by Brisbane which is nearing 16% annual returns.

In more good news for property investors, the growth in rental values has also re-accelerated through early 2024.  February saw a monthly growth rate of 0.9%, marking the highest increase since March last year, as reported by CoreLogic. This re-acceleration also saw the rolling quarterly change in rents rise to 2.4%, the highest since May last year. Darwin continues to lead the way with gross rental yields of 6.6%.

Furthermore, we delve into strategies aimed at enhancing the appeal of investment properties for tenants during colder months. Prioritising insulation upgrades to retain heat and curb heating expenses, alongside incorporating sustainable features like LED lighting and energy-efficient appliances, caters to eco-conscious renters as we journey further into autumn.

Essential maintenance, including chimney cleaning for houses, ensures safety, while affordable updates such as carpet replacements enhance overall comfort as the mercury drops. Attention to bathroom, kitchen aesthetics, and outdoor spaces further communicates property care and boosts its appeal for tenants.

To make informed property choices this autumn, contact us on 02 9999 0800 to discuss.