Affordability- the highs and lows
Most of us have been privileged enough to have experienced the property market boom, which saw house prices and rental prices soar beyond expectations. Most of us benefited from this in such a way that it allowed us to either grow our portfolio, increase equity and benefit financially which for those privileged enough to have done so, currently find themselves in a better position.
However, there are a lot of investors in the market which are struggling with their portfolio and continuously weighing up the option, do we sell, do we keep renting or do we hold on and wait to see? In other words, the big question is, will housing prices change soon in order to get a worth while return of investment?
REIWA president Hayden Groves said that Western Australia was in a unique position with the easing of property prices in recent times having made home ownership more accessible.
Although this is good for the market and for our future generations to be able to obtain the great Australian dream, this does however impact the rental and the sales property market. Paul Glossop adds the number of properties have doubled in the past two years… with vacancy rates rising, this may become a serious problem in the long term.
To say that our property market is on the recovery would be irresponsible, we still are in the adjustment stage of the market and until we stabilise the economy and strengthen the local work force, we will continue to see a decline in property prices as the over supply increases.
As you may be aware in February this year Samuel Cortes, who is my oldest son has joined our business as an administrative assistant. His role predominantly consisted of making sure our documentation is up to date and managing our tenants. He has grown tremendously in the past six months and with his registration coming through soon he will become more involved in making sure our clients continue to receive the highest level of service.
In addition to this, we have just had Serena Fairfull join us as our business development manager. We have managed Serena and her husbands portfolio for the past 18 months and an opportunity arose for her to join our team to further develop the business and provide the highest level of service. Serena has a double major in Marketing and Commerce Law and I am sure she will be an asset to the team.
We have been very diligent at making sure the properties we have under management are managed well and risks are minimised to our owners. We believe we have developed a great team for your portfolio management that will consistently perform the tasks required in order to make sure our clients assets are well looked after.
In order to service our clients even better we have introduced our Sales department. Cristian will be heading our Sales department – and with his knowledge base and negotiation skills, we are sure he will get the best deal for you.
What sets us apart from other real estate agents? The fact that we provide a personalised service. This will continue with our Sales department – Cristian will follow up as soon as an enquiry is received and make the earliest possible appointment with the purchasers in order to sell the property within a reasonable time frame at the highest possible return.