Private Sale Specialists
Quarterly Newsletter

December 2008

In this issue

Private Sale Specialists' News
Contact Details
Local Property Market Analysis
Latest listings
Latest sale
Interest rates
Mortgage meltdown
Hot tip

Shopfront display:
Shop 19 Rowen's Arcade
93 Princes Hwy Ulladulla

Postal Address:
PO Box 893
Ulladulla 2539

Phone: 0414 947 250
Fax: 02 4457 3769

www.SaleSpecialists.com.au
robyn@SaleSpecialists.com.au

 

Click here to see our latest listings.

Catalina (Batemans Bay)
Click here

Manyana
Click here

Burrill Lake

Did you know you can download a free suburb profile from the RP Data website? The profile gives lots of interesting statistical and demographic information about your suburb including size, population, capital growth, median sale prices, average income and household structure. This is valuable stuff to know when selling privately, allowing you to intelligently discuss the positives of your suburb to potential buyers - with stats to back you up!
www.myrp.com.au

Another year has gone by with many ups and downs. We moved our shopfront display to Rowen's Arcade which provided our clients with greater exposure to potential buyers and we are now advertising at the movies . Interest rates climbed during the first part of the year , levelled out then began a downward trend . The government increased the first home buyers grant . We got caught up in the global economic crisis following America's dreadful mortgage meltdown . Petrol prices rose but have since fallen . Time will no doubt balance things out so let's keep smiling and be thankful we don't live in Ohio! We would like to wish all of our cherished clients, friends and readers a very happy Christmas and a prosperous New Year. Thank you all so much for your support during the year.

This quarter we are featuring ULLADULLA, our major centre. The graph and statistics show that prices in Ulladulla have risen since July 2008, and are way above the Shoalhaven benchmark.

Thankfully we are now seeing interest rates go steadily down, after a long period of steady escalation. Our current cash rate is now 4.25%.

To recap, this is how rates changed during this year.

Month	Rate	Movement
January	6.75%	-
February	7.00%	up         .25
March to August	7.25%	up         .25
September	7.00%	down     .25
October	6.00%	down   1.00
November	5.25%	down     .75
December	4.25%	down   1.00

With falling interest rates (see table above) and a significant increase in the first home buyers grant, we hope to see a new surge of interest in the property market. However while cashed up buyers are likely to re-enter the market, the credit squeeze is likely to delay first home buyers that need to borrow a significant amount for the purchase of a home. Banks are no longer lending the high proportion of the purchase price that they were doing before, for fear of creating another mortgage meltdown situation, and of course banks are now paying more for the money that they ultimately lend. The up side of this is that we will never end up with a "Cleveland Ohio" situation where homes are for sale for as little as a dollar, brought about by irresponsible lending on the part of the banks.

House For Sale Cleveland Ohio

Some economists predict that we still have a way to fall economically in Australia before we can rise above the current financial crisis, while others say we have hit the bottom already. Yet more say that if we can maintain our employment levels we may avoid a recession in Australia. Such is the stuff of economics though - it all depends on who you talk to!