Sales: 3373 0000 | Rentals: 3373 0066 | 445 Ipswich Road ANNERLEY QLD 4103 colonial@remaxcolonial.com.au
MAJOR SPONSORS of Annerley Christmas Fair – RE/MAX Colonial

MAJOR SPONSORS of Annerley Christmas Fair – RE/MAX Colonial

 

There is something very unique about Annerley, it is that sense of community that is lost to much of our cities and towns.

Walk down the streets of this old suburb and feel a sense of belonging, of diversity and friendliness.
The eclectic mix of shops, offices and homes ensures Annerley retains its vibrancy and character reminiscent of a bygone era.

 

Celebrating Thank A Property Manager Day (From Left) Lorene and Colin Jeffery, Vicki Graham, Sharon Jackson, Grace Carnall and Karen Bisland.
 

So many of our businesses have been an integral part of the Annerley precinct for decades. The longevity of family run concerns on the high street is a rare find in the modern world of franchises and neon signs.
One iconic landmark is RE/MAX Colonial, smack bang in the middle of The Annerley strip on the corner of Dudley Street and Ipswich road.

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RE/MAX Colonial is at 445 Ipswich Road, Annerley
 

This agency has been selling homes and managing rental properties for decades, previously  as Colonial Real Estate and prior to that a small independent agency for many years.

Colin Jeffery and his wife Lorene, owners of RE/MAX Colonial since 2001, have loved, married,  lived and worked in Annerley since the 80’s with Colin starting his real estate career at Batchelor Realty, previously just a few doors down.

True animal lovers, Colin and Lorene have been supporting the RSPCA for 20 years and as well as holding a their annual cupcake fundraiser for RSPCA Qld, they organise several other fundraisers for a cause very close to their heart. This wonderful couple also ensure that a percentage of ALL property sales to go The Make-A-Wish Foundation making dreams come true for sick kids.

Major sponsors of The Annerley Christmas markets for the last two years, RE/MAX Colonial love their Community and are strong supporters of keeping this suburb vibrant and thriving.

Colin hand picks his sales professionals, and only hires the very best in the business. Collectively, there is well over 100 years of experience on offer, with an unrivalled local knowledge of the Inner Southside. This highly regarded agency has been rated number 1 in Annerley,Yeronga and Moorooka by Rate My Agent for 2017.

It’s hard these days to find a professional business with genuine people offering an authentic, honest  customer centric experience. You won’t find  flashy signs, gimmicks and high rise car parks amongst the long standing businesses of Annerley, like RE/MAX Colonial, you will find ethical, hardworking people offering a quality, bespoke service.

www.remaxcolonial.com.au
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Buying a home

Buying a home

Steps to buying a home

Buying a home is a major decision that takes planning, research and careful budgeting. Here are some tips to help you get started.

How much do I need to buy a home?

There are a number of costs to consider when you buy a home. The biggest upfront cost is usually a deposit.

 

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How to Refresh Your Kitchen on Any Budget, From $100 to $10,000

How to Refresh Your Kitchen on Any Budget, From $100 to $10,000

 Traditional Kitchen by Matthew Bolt Graphic Design
 
 
Maybe you’re dreaming of a full kitchen renovation someday (but that day is a long way off), or perhaps you like your current kitchen but want to change a few components. If this sounds like your situation, a kitchen refresh could be just the thing. 

Even without reconfiguring the layout of the space, there’s a lot to consider, from small items, such as new cabinet hardware and lighting, to major changes, such as new benchtops and appliances. And whether your budget is $100 or $10,000, it can be a challenge to decide what to prioritise and what to put on the back burner. 

Use this kitchen refresh plan as your starting point, and customise it to work with your space and budget.

(more…)

RBA leaves rates on hold in November meeting plus wrap up of industry commentary

RBA leaves rates on hold in November meeting plus wrap up of industry commentary

The Reserve Bank has left its official cash rate on hold at a record low for the 15th consecutive month at 1.50 per cent.

Despite low inflation and weak wage growth, the decision comes as no surprise with some industry experts welcoming the decision.

The RBA last changed its monetary policy settings in August 2016 when rates were edged down 0.25 percentage points to the current low of 1.5 per cent.

“The Bank’s forecasts for growth in the Australian economy are largely unchanged,” RBA Governor Dr Philip Lowe said.

“The central forecast is for GDP growth to pick up and to average around 3 per cent over the next few years.”

The RBA will next meet on Tuesday, 5 December 2017.

REINSW President John Cunningham

REINSW President John Cunningham said the streak of interest rate decisions, which has seen the cash rate remain at the record low of 1.5 per cent, has been extended again.

“The Reserve Bank of Australia last made an interest rate move in August 2016 and on current form, this will continue well into 2018. “We are on the home stretch for 2017 and are backing that the RBA will keep a firm hand on the reins next month,” Mr Cunningham said.

Laing+Simmons Managing Director Leanne Pilkington

Rates were always going to be left on hold today, and they should remain steady for some time, Ms Pilkington says.

“Of course, the housing market is more complicated than this, with different suburban markets performing according to their own fundamentals,” Ms Pilkington says.

“Certainly in this market, we are seeing price emerge as the key driver – more than during the boom of recent years – as discerning buyers seek value for money and quality for their dollar.

“For this reason, vendors must work closely with reputable agents who can articulate the right strategy to secure a timely sale. Agents who quote the highest likely sale price simply to secure the listing are being found out”.

 

CoreLogic Head of Research Tim Lawless

 

A slowdown in housing market conditions has helped to alleviate some of the pressure to raise the cash rate. The fresh round of macro-prudential policies announced in late March have resulted in tighter credit policies and premiums on mortgage rates for investors and interest only borrowers.  Tougher lending conditions have arguably had a similar effect as a lift in the cash rate, except the effect is more focussed on slowing investment activity across the housing sector while low interest rates continue to provide a broader and much needed economic stimulus.

Since the latest policy announcements from APRA at the end of March, the monthly and rolling quarterly growth rate across Australia’s hottest housing market, Sydney, has turned negative. The annual growth rate has more than halved, from a recent peak of 17.1% over the twelve months ending May 2017 to just 7.7% over the year ending October.  Housing market conditions have also slowed in Melbourne, but not as sharply as in Sydney.

Considering the household savings ratio is at a 5 year low of 4.6%, and an increasing amount of debt is concentrated in residential mortgages, household balance sheets will be tested when interest rates eventually start to rise. Household budgets are already thinly stretched:  subdued demand is evident in weak retail spending (down 0.3% in the September quarter) against a backdrop of record low wages growth of 1.9%, and rising energy costs.  It is highly likely that a lift in the cash rate would further dampen household consumption, potentially leading to slower economic growth and fewer new employment opportunities.

Low consumer price inflation should help to offset stress across the household sector, however rising housing prices have caused many households to dedicate more of their income towards servicing a mortgage despite the low rate environment.   Based on CoreLogic affordability measures, which utilise household income estimates from the Australian National University, Sydney households are dedicating an average of 48.4% of their gross annual household income to servicing a mortgage (based on an 80% loan to valuation ratio and discounted variable mortgage rate), while nationally households are dedicating an average of 37.2% of their gross annual incomes to service a mortgage.  Keep in mind these measures are for owner occupier mortgages which currently enjoy record low rates, so if interest rates were to rise it would likely suck demand out of the economy with mortgagees spending a higher proportion of their income to service mortgage debt.

John Kolenda, 1300 Home Loan

“The RBA has a history of rate movements on Melbourne Cup day but there was little chance of the central bank reacting at its November board meeting despite some of its overseas counterparts lifting their rates.”

Mr Kolenda said while the RBA has indicated it is unlikely to make further interest rate cuts, it will need to tread carefully about any future rise in the cash rate.

“While more favourable employment figures and an improving outlook for the global economy point to the possibility of rate rises, future increases will have a much more significant impact on consumers than previously,” he said.

“The recent inflation data will also likely mean the RBA takes a precautionary approach with any announcements surrounding rises in rates over the short term.

“The last RBA rate rise was seven years ago and there are currently many thousands of mortgage holders who have never experienced a hike in the cash rate. Hopefully, any potential increases will be minuscule and implemented over a protracted period to avoid causing unnecessary panic among mortgage holders.”

Mr Kolenda said while official rates remain low, the lending environment remained highly competitive and home loan customers should not be complacent as it was always possible to get a better deal and save money.

Source: Elite Agent Magazine

Azal Khan Azal Khan November 8, 2017- Azal Khan is the in-house features writer for Elite Agent Magazine.