SEPTEMBER - OCTOBER 2021
We knew that Winter was coming but it has now well and truly set in.
I love this time of year as I am able to rug up and wear layers. Also I can concentrate on perfecting my pressure cooker recipes (refer to the Irish Stew recipe I have included in this edition).
The month has been busy workwise because we have been increasing the rent roll and dealing with the sales boom. The low interest rates have certainly had an impact on the market with recent buyer enquiries resulting in inspections, offers and contracts and sales.
I am pleased to be able to offer you a FREE Suburb Report to help you with your search for the next hot suburb. Now you can know more than your neighbour with up to date statistics such as days on market and much, much more! Just email me or text me on 0405 540 646 and I will make the arrangements.
Have a great month - keep warm and feel free to reach out if you need any advice or assistance.
- Tracie Harrington
EIGHT MILE PLAINS
"Under New Management"
3 bed, 1 bath, 1 car
If you are purchasing a new investment property of considering renting your home out please call
Tracie on 0405 540 646
Contact us today to find out how much your property is worth.
0405 540 646
19.4% increase of previous tenancy
It’s simple to spot a boom cycle retrospectively, but predicting which areas are set to surge is much more difficult. Although there’s no certainty that property prices will rise or fall, it’s important to be aware of the signs of a boom cycle.
SUPPLY AND DEMAND
The key to understanding a boom cycle and making a good investment revolves around supply and demand. To put it simply; as supply exceeds demand, prices fall, and when demand exceeds supply, prices rise.
According to CoreLogic, the balance of supply and demand generally dictates housing values. Therefore, it’s necessary to understand what influences this balance. Tim Lawless, CoreLogic’s Research Director, says “watching out for factors that could affect either side of the equation is essential to getting ahead of the curve”.
“On the supply side, markets with a shortage of supply, either advertised supply or newly built supply, can be easy to find. For example, CoreLogic tracks listing numbers closely, as well as building activity, to gauge market supply.
“Scarcity of supply amidst rising demand can cause prices to rise.”
Real estate demand can be harder to analyse and identify as there are more factors that impact this side.
“Demand can be influenced by migration trends, investor activity, monetary policy factors such as interest rate settings, finance availability and government incentives such as stamp duty concessions or grants. Large infrastructure projects such as new gas refineries, or mining projects can have a sharp but temporary influence over demand, often amidst tight supply constraints,” says Lawless.
WHAT ARE THE SIGNS?
It’s impossible to predict a boom cycle with 100 per cent certainty, but there are key signs that may point towards rising house prices. As the relationship between supply and demand is constantly changing, there are ways to stay ahead of the market by understanding certain indicators. According to Lawless, there are five key signs that the market is set to boom:
DIMINISHING INVENTORY LEVELS AMID RISING BUYER ACTIVITY
As demand is increases and supply drops, available housing will most likely increase in value. For example, an influx of interstate migration has seen rising buyer activity in Queensland. Partnered with an 11.3 per cent drop in the number of listings, this rise in buyer activity positively impacted housing prices. This can be seen as the median sale price for houses in Queensland rose by 1 per cent in the 12 months to September 2020, according to the latest Queensland Market Monitor.
SHORTENING SELLING TIMES
This represents a clear spike in demand and is another indicator that prices may rise. When properties spend less time on the market, it’s clear that the demand is high and may lead to shortening supply levels if the market doesn’t accommodate. The impact of shortening selling times could be seen on the Gold Coast throughout the September 2020 quarter. The annual median house price in this area grew by 3.2 per cent as the annual median days on market dropped by 12 days.
NARROWING IN VENDOR DISCOUNT RATES
High discount rates often mean that the market is weaker, and the demand is lower. Whereas, low rates usually mean that there are more people looking to buy. This competitiveness results in narrowing vendor discounts as there is less of a need to incentivise buyers. With properties in regional Queensland growing in price, the median vendor discounts in these areas have dropped significantly compared to other areas. For example, Rockhampton saw an annual house price growth of 6.7 per cent, while the vendor discount rate dropped by 2.2 per cent.
HIGH AUCTION CLEARANCE RATES
This generally means that the market is growing. It shows most buyers are willing to pay the sellers reserve price or more to be the highest bidder. This represents another indicator of increased demand and will generally mean that house prices are rising.
FALLING INTEREST RATES AND IMPROVING CREDIT AVAILABILITY
The falling interest rates and improving credit availability is a sign that house prices may rise as it’s much easier to borrow and invest. Historically, Australian house prices have responded positively to this. Additionally, falling interest rates make investing more achievable, and gives first home buyers more of an opportunity to enter the market.
PRESSURE COOKER IRISH STEW
Pressure cooker Irish stew is an adaptation of a classic recipe with lamb, onions, potatoes, carrots and herbs.
It's gluten free, paleo and whole30, perfect for your Pressure Cooker.
Prep Time:15 minutes
Cook Time:11 minutes
Total Time:26 minutes
Total Carbs:21 g
4 lamb shoulder chops , whole, halved or cut into cubes., 2.5 - 3.5lbs
1-2 tbsp olive oil
1 large onion , peeled and sliced into thin rounds
8 large carrots , peeled and cut into large chunks
6 - 8 waxy baby potatoes , cut in half
Salt and pepper
2 cup water , 500ml
1 sprig thyme
2 tbsp arrowroot or cornstarch , to thicken, if desired.
1 tbsp freshly chopped parsley, or chives
Cut the lamb chops into cubes, or in half, whatever your preference is. If the bone is in the way skip this step and leave them whole.
If you cut out the bones, don't throw them away but add them into the water in the pot, it will enhance the lamb stock.
Turn on the saute function on your pressure cooker or adjust to the medium heat option. Add oil right away.
Now add the lamb chop pieces and saute a little to brown on each side. Do it in batches and when they are done remove them to a plate.
Cut the carrots into big chunks or you may find they are too soft if you make them very small, do the same with the potatoes. If you use baby potatoes as suggested you can half them, or leave them whole if they are very small.
Add the water to the inner pot and deglaze the bottom of the pot, and then turn off the saute function. Add the thyme.
layer the meat, then sliced onions, carrots, and potatoes, and add a little salt and pepper with each layer.
Lock the lid, turn the steam release vent to 'sealing' and using the manual setting, adjust it to cook for 11 minutes at High Pressure.
When the cook time time is up, allow the unit to reduce pressure on its own without opening the steam release vent (Natural Pressure Release) for at least 12 minutes, then you can gently release the rest of the pressure by opening the vent.
If you want to thicken the stock, mix 1tbsp cornstarch, or arrowroot or tapioca starch for paleo, with a little water and add to the hot stock in the pot. If you need to thicken it up more then use the saute function to heat the stock up again.
serve hot, sprinkle with chopped fresh parsley.
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