First National partners with Lee Woodward

February 21, 2012 Leave a Comment

Audio, On-Demand and Live Training are First National's Edge

Media Release: 21 February 2012

First National Real Estate today announced it has launched a new national professional development initiative in partnership with leading industry trainer, Lee Woodward, across its network of 450 plus offices.

First National’s Competitive Edge with Lee Woodward is a professional development initiative designed to connect each office’s entire team to a better way of thinking, making it operate as a closer business unit.

‘Our members are operating in a tough market and we recognize the challenges they face will not be addressed by a traditional approach to professional development in 2012 and the years ahead’ says Chief Executive, Ray Ellis.

The network has worked with Lee Woodward to tailor a multi-media based programme with the aim of driving greater unity between sales, property management and management functions of every First National business.

‘The programme will target each department’s needs specifically, but uniquely it also references the many products and solutions that First National members already have at their fingertips, but perhaps aren’t fully exploiting’ says Mr Ellis.

‘This creates a holistic approach that is a first for any network in Australia. Lee brings cutting edge expertise, practical advice and fresh thinking to real estate practice, but he also understands how to align that to First National’s service strategy’.

First National Real Estate has experienced a renaissance since a complete change of strategy in 2004 says Ellis. The subsequent speed of innovation has increased exponentially each year, necessitating a highly targeted approach to staff education and development.

‘The entire real estate industry is struggling to keep up with the demands of changing consumer trends, technological evolution, and the new Australian property marketplace. First National has introduced a raft of measures to reduce days on market, improve customer service perceptions, lift skills and engage local communities with their First National member.

‘We have invested in an initiative that would typically cost an individual office tens of thousands of dollars a year each, if they didn’t belong to First National,’ says Mr Ellis ‘and that’s in addition to our normal professional development schedule which is delivered comprehensively throughout metro and regional Australia.’

Lee Woodward, started his real estate career in a First National office and is regarded as one of Australia’s most gifted trainers. His unique insight into the real estate business cuts through the gimmicks.

‘My objective, through ‘The Competitive Edge’, is to bring training, with the same strategy and theme across the business. Interviews with great agents, trainers and coaches in their area of expertise will be augmented by multimedia resources that clearly explain the real estate journey, process, systems and strategies that are needed to be effective’ says Lee Woodward.

First National Real Estate has approximately 450 offices throughout Australasia and supports Australian Red Cross through the First National Foundation.

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Issued by: First National Real Estate:

For further information Stewart Bunn, National Communications Manager, First National Real Estate on 1800 032 332

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Men are from the garage; Women the kitchen…

February 17, 2012 Leave a Comment

Women believe they put more importance on the kitchen when hunting for a home compared to men, First National Real Estate’s survey of women and property shows.

As well, women feel the bathroom and the size and number of bedrooms are a higher priority for them than men when buying a home. Women are also more likely to rate proximity to friends and family as extremely or very important. But expect men to be checking whether a home has a garage or a workshop – more men than women say these would be a priority when buying a home:

The survey, of 1,207 Australians (603 male and 604 female), looked at key factors influencing home purchase decisions as well as differences between men and women. Respondents were asked to rate the importance of a range of features that would influence their selection of a home. Overall:

  • 73 per cent said having a garage would be extremely or very important;
  • 71 per cent said the quality of the kitchen; the home having water saving systems or equipment, such as a grey water recycling system or rain water tank, was considered extremely or very important by 67 per cent of respondents;
  • 65 per cent said the quality of the bathroom; and
  • 56 per cent said a low maintenance garden or courtyard.
  • At the bottom of the list were: the home having good potential to improve or renovate (38 per cent), proximity to friends and family (36 per cent) and the home having a security alarm system (31 per cent).

But when couples were asked what things they believe they would prioritise more than their partner, clear gender differences emerged.

  • Far more women (28 per cent) placed a greater emphasis on the kitchen than men (three per cent);
  • Women also said they would place a greater emphasis on the bathroom – 17 per cent compared to two per cent of men);
  • 10 per cent of men said the garage or the size of the garage would be a priority, compared to four per cent of women and the same number nominated a shed or a workshop, compared to only one per cent of women;
  • 43 per cent of women compared to only 28 per cent of men said proximity to friends and family is an extremely or very important factor and 46 per cent said proximity to where people in the household work was extremely or very important, compared to 36 per cent of men;
  • Women seem more environmentally aware than men – 72 per cent said water saving systems would be an important feature, compared to 63 per cent of men.

And despite becoming an important buying power in the property market, some women say they are still discriminated against. Thirty four per cent of female home owners said they had experienced gender discrimination from tradespeople around the home and 25 per cent said they had experienced it from real estate agents. Only 11 per cent said they had been discriminated against by their mortgage lender.

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Should you invest in Australian property?

February 14, 2012 Leave a Comment

Consider these statistics...

The decision to rent or buy is always a big one. The traditional strategy of buying a first house and then moving up to the ideal home as your income and equity grows is fast being replaced by the initial purchase of an investment property. However, the alternative of renting indefinitely while you save to buy is becoming equally difficult because of escalating rents and an historic squeeze on vacancies.

If you’ve wondered whether you’re ahead by renting or better off buying, consider these statistics.

  • The median net wealth of a renting household is $55,265 whereas homeowners have nine times as much – $487,183
  • Renters comprise 28.7 per cent of the nation’s households but have only 6.3 per cent of the nation’s wealth
  • Australians who own their home are worth 13 times more than renters – $734,394

So, despite arguments to the contrary that emerge from time to time, real estate ownership has made the average Australian second only to Swiss residents as the wealthiest in the world.

So how do you take the step from renting to buying your first home?

  1. Approach the market with a sound five-year plan. Get into the market, pay down the mortgage, and establish equity in the home as a basis for long-term financial security and flexibility.
  2. Budget for extras. As well as a solid deposit, have money set aside to cover insurance, routine maintenance costs and to meet mortgage payments for several months if something goes wrong.
  3. Don’t worry about the market. Your focus should be on building a deposit while looking for the property that matches your lifestyle and budget.
  4. Compromise. Your perfect home is likely to be out of reach for now, so focus on hunting down a property that has solid real estate attributes – good location, off-street parking, security, quality finishes and proximity to restaurants and transport. Choose something that will suit your needs for the next five years or so while you build up equity and prepare for the next phase of home ownership.

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Renting the family home; Should it be treated differently?

February 14, 2012 Leave a Comment

Treat the family home as though it were a normal investment

We’re all emotionally attached to the family home so making the decision to rent it out can be fraught with difficulty for some.  Letting go can sometimes be a hard thing to do but homeowners across the board need to treat their home just as they would an investment bought specifically for rental purposes.

Even though it’s your private residence, you’re now the landlord so you should consider having the property professionally cleaned to set the standard as well as future expectations for the incoming tenant.

Landlords who demonstrate their personal high standard of cleanliness usually find their tenants respect the property, returning it in the same condition when they leave.

This also applies to the condition of the interior and exterior of the home. Setting a high standard of living and comfort can make all the difference because the longer a tenant stays, the less wear & tear on the property.

Your Property Manager can put you in contact with professional cleaners and qualified tradespeople and can even arrange quotes in most cases.

Ultimately, renting your family home shouldn’t cause any great concern. Properly prepared and presented, then managed carefully by First National Real Estate, you can expect to attract tenants who’ll care for it as much as you do.

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Australian Property Alerts Surge

February 2, 2012 1 Comment

Example buyer registration eCard

Technology has been firmly embedded in real estate marketing for many years but First National Real Estate is leading the charge when it comes to regular customer communication about homes suited to their needs.

Buyer alerts issued from First National’s Utopia cross matching system surged by 50% in 2011 with some 375,000 customers receiving SMS alerts, telling them that a property matching their wish list had just been put on the market. More than 11.8 million email alerts and property market updates were also issued.

The system is used equally by buyers and tenants and customers love the regular, instant updates.

‘Our customers tell us we are the only real estate brand that gets back to them when they take the time to tell us about their property hopes and dreams;’ says National Communications Manager, Stewart Bunn.

Customers register their details by visiting First National member websites and following the links for priority alerts.

‘It’s simple to update search criteria, as your wish list changes, and also to choose to receive market updates or not’ says Mr Bunn.

‘Plus, once you’ve bought or rented a new home, it’s easy to remove yourself from our database so we don’t bother you with updates you no longer need. Our customers just love the convenience and our members have reduced the number of days it takes to sell a home or rent a vacant investment property.’

Find out more about First National’s Utopia system by talking to a local First National member today.

 

 

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Surge In Open Home Interest

January 30, 2012 Leave a Comment

SOURCE: Namoi Valley Independent

Surge in Buyers at Gunnedah Open Homes

First National Real Estate Gunnedah has reported a renewed interest in property with an influx of potential buyers to open homes displays last weekend.

“What a positive way to start the New Year” said First National principal Mike Brady.

“Brand new, great valued, fresh listings have attracted significantly improved level of genuine interest with buyers, who came out in force last weekend.” Mike Brady said the sales team had reported as many as 23 groups going through the open homes.

 

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Indicators Strong For Property Market Recovery in 2012

December 28, 2011 5 Comments

Media release – 28 December 2011

Indications that a property market recovery is likely in 2012 are strong, although it will be a slow and gradual process, with first home buyers beginning to stir, but not fully confident to part with their hard earned savings, and investors having already capitalised on prime market conditions.

According to First National CEO, Ray Ellis, this is the picture based on expectations of interest rates, market movements and local area member knowledge, underpinned by improving consumer sentiment as detailed in First National Real Estate’s 2012 Property Market Outlook released this week.

“Home prices bottoming out, falling interest rates and improving affordability are all working together and may prove the stimulus the market has been waiting for to get it moving again,” Mr Ellis said.

“In turn, increased interest and activity in the property market will see it strengthen further especially with investors who have already shown signs of gaining confidence at the end of 2011.”

Based on the survey findings highlighted in the Outlook, NSW should see an improving market; Victoria is showing signs of recovery, but still has a way to go, Queensland is demonstrating it has lots of potential and is finally on its way back from the devastating floods and cyclones it experienced in 2011; WA and NT will continue to be strong performers especially in resource rich areas; Tasmania is marking time but will pick up as it progresses through 2012; and South Australia will continue to be a solid performer.

All First National state chairpersons agreed buyer confidence should improve in the next 6 months, as a result of lower interest rates, improving local market conditions and a more stable global economy.

For some states, worsening global economic conditions and possible job losses have resulted in an increase in mortgage defaults and this trend may continue until more certainty and stability returns to the US, European and Chinese economies.

According to the state chairpersons, the key challenges for the Australian property market in 2012 will be focused on sustaining a strengthening consumer confidence, which are at the mercy of ongoing stability in global economies and job security; government policy and legislation (especially the introduction for the carbon tax and reduced government assistance for first home buyers); and interest rate movements.

While demand is still expected to remain relatively soft into 2012, a recent sharp rise in Westpac’s time to buy a dwelling index may be the cue for a housing upturn.

“This will, however, be dependent on ongoing interest rate cuts, job security and resulting consumer sentiment,” Mr Ellis said.

Interest rates are expected to drop further with rate cuts of up to 0.5 per cent, although some say it could be as much as 75 to 100 basis points.

“Any future interest rate cuts are expected to stimulate buyer activity as confidence improves and refinancing options broaden, ultimately strengthening the property market,” Mr Ellis said.

“With the Australian housing market now affected by daily international updates and commentary, confidence can change at a moment’s notice.”

Residential markets are expected to remain initially subdued in 2012 as consumers seek to pay off debts.  However, falling house prices and interest rates should stimulate some activity, particularly among bargain hunters who have been squirreling away savings and are now cashed up.

“Our members believe the strongest growth in their regions will come primarily from upgraders, followed by investors, then retirees and lastly from first home buyers,” Mr Ellis said.

Australia’s national office market is one of the best performing commercial property subsectors –with capital value growth expectations of 2.8 per cent over the next 12 months.  It currently outperforms the residential property market and this trend is expected to continue for some time to come.

“Into 2012, the commercial property market will continue to be a mixed bag, very reliant on the area and local market conditions, but the majority of members said they expected the market to stabilise,” Mr Ellis said.

According to First National Commercial members, solar power remains the most popular energy efficient feature in a commercial property, making it more rentable.

Water recycling, the ability to open windows and motion sensor lights are also sought after energy efficient features.

“Around 75 per cent of respondents said they expected sales of commercial properties to increase in 2012, as a result of their region’s attractiveness, trading up or new jobs and increased businesses in the region,” Mr Ellis said.

Growth in commercial property markets is expected to come mainly from the heavy and light industrial sector, followed by the office market and medical industry.

Regional Australia is experiencing some of the most difficult market conditions seen.  Falling prices, non-committal buyers, unrealistic vendors and consistently negative market reporting throughout the majority of 2011 have affected confidence.

However, improving housing affordability and interest rate cuts should inject some much-needed confidence into the regional housing market.

“Over 2011, the regional property markets have been influenced by economic factors such as the strength of the Australian dollar value, commodity prices, demand for Australian products and nervousness around job security,” Mr Ellis said.

“The regional market has stagnated to some degree but this is expected to steady into 2012 as confidence slowly starts to build, eventually returning as the year progresses.”

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Issued by: First National Real Estate.  For further information or to receive a copy of the 2011 Property Market Outlook, contact Stewart Bunn, National Communications Manager, First National Real Estate, on 02 9320 2535

 

To read the complete document, click here:

http://firstnationalnews.com/2012/01/09/2012-property-market-outlook/

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Should you rent or should you buy?

December 6, 2011 5 Comments

Is now the right time to rent or buy?

Media Release – 6 December 2011

First National Real Estate’s National Communications Manager, Mr Stewart Bunn, says current market conditions, coupled with increasing housing affordability, is causing a rental dilemma. Many renters are questioning if now is the time to stretch their budgets and commit to buying their own home.

“With lowering interest rates and falling house prices, home buying is proving almost too attractive for many renters, but serious consideration needs to be given to the person’s individual and financial situation to ensure they make the right decision,” Mr Bunn said.

“It may appear, on the surface, that purchasing a home may make more economic sense for those doing it tough, where the monthly mortgage is not too far off what they are currently paying for rent, but a closer look may reveal that incidental costs and a small change in circumstances could lead to an untenable situation.”

According to Mr Bunn, the advantages of each housing option should be weighed against the drawbacks to find the one that best suits their specific needs and situation.

“Renting offers great flexibility with the option to relocate from home to home and area to area, as the need arises, which is not the case with buying a property,” Mr Bunn said.

“If finances get tight, or the home situation changes for any reason, it is far harder to just pick up and go if you own your own home.

“Renting is also often a cheaper alternative to buying, especially in the inner city areas particularly favoured by Gen Y-ers who want that urban lifestyle close to where they work.”

While vacancy rates continue to be under pressure, the fact remains that renting may still be more affordable, with monthly rental payments usually less than a mortgage repayment for a comparable property and without the other incidental costs which can be incurred as a homeowner.

“One of the greatest financial and stress-free advantages of renting is that property maintenance costs, repairs, rates and insurance bills are the responsibility of the landlord, not the renter,” Mr Bunn said.

Despite these many advantages of renting a property, there are some disadvantages which will make buying preferable, particularly in light of escalating monthly rentals.  The most obvious one being when renting, it is not possible to put your personal stamp on a property to suit your individual style and design preferences.

“There is also the inconvenience, and in some cases pressure, of knowing your landlord has the right to inspect their property whenever they wish, with sufficient notice, potentially disturbing the renter’s privacy,” Mr Bunn said.

“But the biggest disadvantage of renting is that the property can never be paid off by the tenant, making the money lost for good, without any chance of recovering when the property is sold.”

Ultimately, this is the biggest difference and that is where advice should be sought to determine the short and long-term impact on personal net wealth and cash flow over a lifetime between renting and buying.

“Usually, the decision will be to purchase a home, but it will come down to making sure people buy well and buy right, at the best time for their own individual circumstances,” Mr Bunn said.

“This is where we at First National can really help.  We offer advice and assistance with the necessary knowledge, experience and skills to understand the market, its trends and its weaknesses and opportunities,” Mr Bunn said.

“Despite some government assistance packages for both renters and buyers being abolished or having become obsolete, such as the First Home Owners’ Grant Boost and the National Affordability Rental Assistance Scheme, it is important to remember there are still incentives for potential home buyers and renters to take advantage of, including state government financial assistance packages.

“So home buyers and renters need to learn to make the most of the services we have available, to ensure they make the most of their finances over the long term.  There are many creative ways in which to save for that first purchase whilst renting and we can help explain all the options available.”

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For further information contact Stewart Bunn, National Communications Manager, First National Real Estate, on 0413 624 317

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First National Commercial sets record for Darwin

December 2, 2011 Leave a Comment

Jacana House, Darwin - $58.75 million

MEDIA RELEASE: 2 December 2011

First National Commercial O’Donoghues has set a new record for Darwin CBD commercial sales with the sale of Jacana House for $58,750,000.

The nine-story 39 Wood Street building was built and owned by successful local development company, Gwello Developments. Uniquely, it has a 5 Green Stars rating for design, 5.5 stars for Nabers energy efficiency and is the leading green office space in the Northern Territory. A raft of Federal Government departments as well as listed companies currently calls the building home.

First National Commercial O’Donoghues says that Jacana House was not for sale but, due to strong investment demand, the agency approached the owner with a solid offer.

‘Our residential and commercial business maintains close contact with buyers nationally and we’re not short of investors who are very interested in Darwin opportunities’ says First National Commercial O’Donoghues principal, Jeremy O’Donoghue.

A transport logistics investor, formerly from Darwin, seized the opportunity to secure the ‘A’ grade and environmentally friendly office building through First National Commercial O’Donoghues because no other suitable commercial properties were listed for sale.

‘Jacana House is the only commercial high-rise in Darwin with such a strong energy efficiency rating and it will soon have the ‘As Built Green Star’ rating as well,’ says Mr O’Donoghue.

‘It is an extremely energy efficient building. An enormous amount of thought and effort has gone into the design and construction, which incorporates the requirements of the Green Building Council of Australia.

‘The buyer was seeking a solid, long-term investment with blue chip tenants so we were very comfortable recommending Jacana House as a potential target’.

The Darwin property market is expected to provide exceptional returns for investors for the next few years and commercial property investment may well be leading the pack. Major new projects are coming on line in early 2012.

‘Consumer confidence has hit a 12 month high and is expected to strengthen further as a result of the recent drop in interest rates, the US Presidential visit and the range of projects about to commence. This sale represents clear confirmation of the considerable confidence investors have in Darwin’s future projects.’ says Mr O’Donoghue.

Issued by: First National Commercial O’Donoghues

For further information:

Principal, Jeremy O’Donoghue on (08) 8942 8942 or 0407 080 067

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Still the lucky country

December 1, 2011 1 Comment

Chief Executive, Ray Ellis

As the property market moves toward its summer hiatus, First National would like to wish you happy and safe holidays as well as a Merry Christmas.

With the housing market correction having slowed in September and interest rates fallen, Australian confidence has risen to a six-month high.

Capital city dwelling values have fallen just 0.2%, the smallest decline since February, and economists are tipping rates could fall further yet. So what’s next for 2012?

We’re working on our 2012 Property Market Outlook right now, so ask your First National member for a copy in January and we’ll give you the views of a network of experts comprising 450 offices Australia-wide.

Although 2011 was a year in which Australians felt considerable gloom and uncertainty about the future, we really do have much to be grateful for.

While interest rate movements, property price statistics and auction clearance rates are reported in excruciating detail, then analysed in depth by the 24 hour media cycle, home owners have much to be satisfied with when it comes to their property holdings and their performance.

Credit Suisse’s Global Wealth Report recently ranked Australians as the wealthiest people in the world. The reason? Our average wealth now rests at $403,000 and our median at $225,000.

The median is indicative of how the middle class is placed, and, as we have comparatively high levels of home ownership on the world stage, our wealth distribution is relatively equitable. In the United States, by comparison, median wealth is $53,000. Coincidentally, the median wealth of an Australian rental household is pretty close to that of the US – $55,265.

Australians who own their home outright are worth an average $737,394 and there have never been more government incentives and bonuses to help you get your foot on the property ownership ladder.

So, it’s not hard to see why the ‘Great Australian Dream’ still includes buying and work towards ownership of your home.

Plus, with historically low interest rates and enviably low unemployment rates, we really are the land of opportunity. It puts all our worry about small movements in interest rates and slight reductions in house prices in perspective doesn’t it?

Swim between the flags!

 

Ray Ellis

Chief Executive

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