Hi all..
Wanted to share with you my summary of 2009: the year that was, which I wrote and shared with my clients locally for early December. I’ve been writing monthly market updates, but never sharing them.. and thought this might be the ideal platform to do so.. and hopefully receive in return some feedback on whether you agree with my summary, what you are noticing in your own local market and how you communicate that to your market place.. and basically any general thoughts you’d like to share with the Gen-Y community.
I always enjoy hearing the Gen-Y market reflections.. given that we always seem to be so upbeat, positive and perhaps not as tainted by past experiences as our older generations.
2009:
December 8, 2009
Great article Alana & a refreshing insight into the property market.
The recent interest rate hikes by the Reserve Bank could have an impact that will mostly be noticed around the Christmas cash registers this year.
I think because we are dealing with such low interest rates any further rate hikes could increase unemployment & hurt the property market.
I wonder if the RBA realise that they don’t have to raise rates by 0.25% each time. They can go up by 0.1% at a time and still send out a similar message about the economy.
December 11, 2009
Interesting market wrap up!
I wonder how your response went with your clients?
To me it doesn’t seem specific enough to your area. I live in Seaforth on the Northern Beaches and would be interested to see how the growth for the area has gone and specifically some of the surrounding houses.
Perhaps specific examples of sales that went under “market value” during the tougher times pre 2009 and then great sales results in 2009. Using vendor purchase prices and eventual sale prices and give the percentage of growth. Even the growth charts from RP Data would be interesting to the subscribers.
This is not a dig at the article, as it is very interesting and informative. I just feel it could have been more specific to your target area.
I agree with your summary and have also noticed a very positive attitude to purchasing throughout 2009 and specifically the last quarter. If the rates are not hiked too high then the market should stay in a positive mindset and not be scared to commit to a real estate purchase.
December 12, 2009
Alana & James, Did you see the condescending video that Westpac put together to explain why they increased their interest rates by 0.45%.
Surely, they could have used a spokesperson & made it a more personalised approach rather than comparing the price of Banana Smoothies in something you’d expect to see them showing on Play School.
If you haven’t seen it as yet, here’s the link http://www.youtube.com/watch?v=gzbBUC3XsPs&feature=player_embedded