Private Sale Specialists
Quarterly Newsletter

June 2008

In this issue

Private Sale Specialists news
Local property market analysis
Interest rates
Latest listings
How long does it take for a house to double in value?
Bargain listings
What's new in Ulladulla
Annual June long weekend events

Website

www.SaleSpecialists.com.au

South Coast

Robyn Perry
0414 947 250
Email: robyn@SaleSpecialists.com.au

 

North Coast/Gold Coast

Kerrie Bardon
0418 437 675
Email: kerrie@SaleSpecialists.com.au

 

Click here to see our latest listings.

Kings Point
Click here

 
Narrawallee
Click here

 
Berrara
Click here

Click Here to view Properties Under $300,000

 

Bunnings

The new Bunnings Warehouse is set to open in Ulladulla on 26 June 2008, employing 45 new staff.

ExServo's Club Expanding

The Milton Ulladulla Ex-Servicemen's Club is expanding to accommodate the growing needs of the area. This photo is an artist impression of how the club will look in the future.

The new club will have a larger TAB, bistro with seating for 140 guests, 3 outdoor areas, 1 outdoor area with 30 gaming machines, and is expected to open in late December 08.

Kerrie moved to the Gold Coast recently and is in the process of setting up the second branch of Private Sale Specialists. In later editions of this newsletter Kerrie will keep readers informed about the Gold Coast property market.

Robyn has opened a shop front display at "Shop 19" Rowen's Arcade where all the current listings are showcased and information about Private Sale Specialists can be viewed.

Private Sale Specialists has launched a new product: "D.I.Y. Sell Your Own Home" Kit which can be ordered through the website or by phoning Robyn on 0414 947 250. The kit contains everything you need to go it alone, and if you decide to engage the services of Private Sale Specialists within one month of purchasing the kit $50 will be deducted from our fee.

There is now an interactive forum on the website where you can post questions, comments or suggestions. Please feel free to logon and have your say or view other user's comments.

This quarter we are featuring Burrill Lake. The graph shown here indicates that the median sale price at present sits below the benchmark set by the Wollongong and Illawarra market. It will be interesting to see what happens in this area when the new Hotel and Conference Centre is built, bringing many more visitors to the area. This suburb could well become the growth area of the Southern Shoalhaven.

Burrill Lake

Official Interest Rate

The RBA's current official interest rate is 7.25%, the last increase occurring in March 2008. The official rate translates to around 9% interest charged by banks for home loans. This is causing enormous strain for people who have borrowed high amounts when interest rates were low – especially when high petrol and food prices are factored in to the weekly budget. Some economists are predicting 2 further increases this year, in August and November, while others suggest that rates have reached their peak. This uncertainty creates even more stress for families - wondering whether they can afford to try to hang on to their homes. On the up side house prices have reduced, so cashed up buyers can now snap up bargain properties. Consequently if you have a property in the lower price bracket now could be a good time to sell. While we can't do much about interest rate rises we can control the costs of selling property. If listing with an agent a person selling a $450,000 home would pay out $14,850 in commission (based on 3.3% which is the normal amount charged by agents in the Ulladulla area). By selling privately with the help of Private Sale Specialists, you would only pay our one off fee of $695, saving a huge $14,155!

In the current market why would you do it any other way?
 

Sydney and Brisbane Analysed

It's generally said that it's 7 to 10 years but this depends on the many variables in the economy. Since 1980 Sydney house values have doubled on average every 7.34 years: January 1980 to August 1987, August 1987 to March 1996 and March 1996 to March 2002. In Brisbane they have doubled every 7.7 years: January 1980 to September 1987, September 1987 to January 1993 and January 1993 to June 2003. With Brisbane's median house value being lower than Sydney's it is likely that prices there will double again much earlier.

Source: RP Data

Source: RP Data

Milton Scarecrow Festival

Less than perfect weather did nothing to dampen spirits at the annual Milton Scarecrow Festival, the theme this year being "Scarecrows Outer Space". This is a fun event each year with lots of activities and entertainment over the whole weekend.

 Winter Wine Festival

As the south coast matures as a wine region wine lovers are treated to our Winter Wine Festival extending over the June long weekend. People from everywhere come to this event to sample our distinct wine styles, produced due to our warm maritime climate and summer rain.