| Coast Homes Article |
June 2007 Newsletter1 June 07GOLD COAST MARKET You have heard it for six months now, and South East Queensland is still battling to keep up the supply of homes to a long list of buyers. No doubt the timing and strength varies from suburb to suburb, but the strength is still there. But I am still recommending to buy and not sell. RENTAL MARKET The number of vacant properties on the Gold Coast has increased but it is still very low and below one per cent so therefore very much in the favour of investors (lessors). The main reason for the increase in the number of vacancies is due to the considerable increase in the number of investors buying. Every other day we are listing new propeties for rent which we are very proud of as this is proof of the reputation of the quality of our property management services. These properties are renting at very good rates. CAN YOU AFFORD TO? Now is a great time to buy another investment property if you can afford to.Housing affordability has fallen to its lowest level yet recorded by a key industry measure of the market set up 23 years ago. With houses becoming less affordable, rental demand increasing and rents increase accordingly. The HIA/Commonwealth Bank Housing Affordability Index fell by 0.6 per cent in the March quarter - 10.3 per cent lower than at the same time last year. The index fell to 97.8 making it the second consequtive quarter in which the index had fallen below 100, after a 1.3 per cent rise in the average price of a first home. One hundred is the base level for the index. The Housing Industry Association said the index was at its lowest level since the group was established in 1984, with the monthly loan repayment of a typical first mortgage rising to $2387 from $2352. HIA managing director Ron Silberberg said that when it came to housing affordability all the wrong records were being set and called for government action to alleviate the crisis. "The housing affordability crisis shows all the signs of structural supply constraints. It is not part of some market cyclical trend that will correct itself, " said Mr Silberberg. "This continuing decline confirms previous calls by HIA for a national response to restore housing affordability." The March quarter result was the fourth consecutive decline in affordability, with the monthly loan repayment on a typical first home mortgage rising by 1.5 per cent. Mortgage repayments are now 30.7 per cent of an average first home buyer’s income. SOURCE:GOLD COAST BULLETIN EVERYDAY PHRASES AND THEIR ORIGINS Rigmarole is an unusual word with an interesting origin. It is used to describe something disconnected, rambling & difficult to see a way through. It is now well over 700 years old and dates back to 1291 when the Scottish noblemen signed a deed of loyalty to King Edward I of England. Each of them fixed their seal to it and when all the attachments were joined together and presented to the King it was 40ft long. The deeds were known as the Ragman Roll and it was a dishevelled mix and match of all the Scottish deeds, both confusing and complicated. Ragman Roll morphed into "Rigmarole" and became used to describe anything of a troublesome, time-consuming and awkward nature, SOURCE: RED HERRINGS & WHITE ELEPHANTS SATISFACTION GUARANTEED! We highlight some of the testimonials received from our very happy clients:From the minute we met Claire & Carl Branson we knew we were in good hands. It was refreshing to see a husband and wife team working together, we felt like we got twice the attention and experience. We could not fault their professionalism, the communication and feedback was exceptional and informative. We wish them continued success Pauline & Jerry Boggia, Molendinar I have known Trevor Griesbach for many years and this is the second time that I have sought his advice, acumen and experience in the sale of a home and on each occasion he has more than excelled himself. Both he and Janelle Smith made themselves available at all times to assist me with any concerns I might have had .This is the third time I have used Gold Coast Homes in the sale or purchase of a home and have at all times been completely satisfied with the integrity of the agents and employees Graeme Hollands, Nerang THOUGHT FOR THE DAY "A coach is someone who tells you what you don’t want to hear, who has you see what you don’t want to see, so you can be who you have always known you could be." Tom Landry
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