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Property Sales Merimbula

Will Real Estate Property Momentum Continue in 2014?

The combination of low interest rates, foreign buyers, upgrader enthusiasm and investor momentum saw 2013 emerge from its property holding pattern and the market become reinvigorated.

RP Data analyst Cameron Kusher said he believes momentum in property will continue into the new year, propelled by investors and upgraders.

He also believes values will climb further, though not as sharply in 2014. Another of his predictions is that gross rental yields in Sydney and Melbourne will continue the decline they commenced in latter 2013, leading investors to look at alternative growth zones. These are good tidings for the Far South Coast of NSW.  The last few months of the year had seen keen interest in the area, with properties that were priced right being snapped up, some as soon as they came on the market.

However, Mr. Kusher issued a warning about other economic wild cards, like the unemployment rate, stating  “If it reaches 6.25% it will be the nation’s highest unemployment rate since September 2002. If people start to become nervous about their job security it is likely to result in a lower level of demand for housing.”

Rates are at their lowest levels since the 1960s and inflation is currently at 2.2%.  Keep in mind that the Australian interest rates don’t operate in a bubble – they respond to what’s happening in the global economy. The recent fall of the Australian dollar of 2.5 cents against the U.S. dollar as a result of the U.S. winding back its stimulus is a reminder that inflation could increase if the dollar keeps falling and the cost of imports increase. If inflation increases we could see a rise in interest rates.   The all important question now is whether the RBA will increase or decrease rates, or leave them as is in the new year.

With keen interest from both local buyers and those from interstate in Merimbula, Bega, Tura Beach, Eden and Cooma and the current low interest rates together with confidence in the real estate market, vendors should not delay listing their properties for sale.  Now is a prime time to sell.

Yield The Golden Word When Buying an Investment Property

There’s no doubt that yield is the golden word for investors.  Other things may come into play, such as lifestyle or infrastructure potential, such as the Bega Hospital and Eden Wharf developments, but the income return on the property is usually the major concern for the purchaser.  The Sydney market has been hot for investment properties to the extent that Investors are crowding each other out, resulting in a slight drop in yields.  That gives regional towns on the South Coast and Monaro such as Bega, Merimbula, Tura Beach, Eden and Cooma the inside track for investors looking for positive returns.

Yield is generally calculated annually as a percentage.  It is based on the asset price or market value of a property. The gross yield is the income (i.e. rent) derived from the investment before expenses are taken out.  The net yield is the income less expenses. These expenses could include stamp duty, legal fees, pest and building inspections, repairs and maintenance, property management fees, insurance, rates, strata management fees.

The yield is stated as a percentage and is worked out as –
Gross yield = annual rental income / property value x 100
Net yield = annual rental income – annual expenses / property value x 100

The return or total return includes capital gains. It is quoted as a percentage and is retrospective, based on the gain or loss of the investment during a particular period.

Increasing housing demand drives property prices up and this can affect the yield of an investment. The more prices go up, the lower the percentage between rents (income) to property value. According to Australian Property Monitor’s figures for the September quarter, this is exactly what is happening in Sydney right now. With the current low interest rates many investors are considering purchasing property for negative gearing. Purchasers should ask the right questions of Real Estate Agents to ensure they know the likely net yield on a property before they purchase.

Real Estate Agents in Bega, Cooma, Eden, Merimbula and Tura Beach Welcome Upgrades

Fisk & Nagle First Choice Real Estate welcomes infrastructure upgrades to the region.  With Real Estate offices in Bega, Cooma, Eden, Merimbula and Tura Beach they fully appreciate the flow on effect to property values, real estate enquiry from purchasers and improved confidence for vendors the recent and upcoming upgrades to infrastructure create.

The recent State Budget delivered $169 million in funding to the Princes Highway for upgrades to this vital link between the far south coast and major cities such as Melbourne and Sydney.  The current upgrade to the Merimbula Airport that is still a work in progress at a cost of $5.7 million will ensure the continued safety of the runway and extra lighting will allow for low visibility departures allowing planes to take-off in fog.  The latest news on Sydney Airport is that regional airlines will continue to have access to the airport and reasonable pricing arrangements capped at CPI for the next three years.  This ensures continued services from Sydney by the current carrier, Rex Airlines to Merimbula Airport.

The new South East Regional Hospital in Bega, which is currently being built, has already had an impact on real estate enquiry in Bega, particularly for properties in the Glen Mia estate, which is situated opposite the hospital site. The Minister for Health Jillian Skinner MP has stated that the new hospital will meet the growing demand for health and hospital services in this thriving regional area and that the expansion of services that will be delivered will help attract and retain a highly skilled and motivated workforce.  Together with the $60 million Bega Bypass , the Member for Eden Monaro reports that there have been other upgrades in the region such as the Port of Eden development, upgrade of the Merimbula Jetty and an upgrade of the Merimbula Causeway.

Home owners and property investors alike can take heart at these infrastructure improvements and look forward to reaping the rewards. To list your property or enquire about purchasing a property in the area call 1800 For Sale.

Principals of Largest Real Estate Agency in South East NSW Focus on Community

The largest Real Estate Agency in South East N.S.W. is Fisk & Nagle First Choice Real Estate with offices in Merimbula, Eden, Bega, Tura Beach and Cooma.   The Principals of Fisk & Nagle Jo Thorpe and Don Peterson understand that in regional communities it is not just all about sales, but how the business enhances community life and they contribute to the community in many ways.

Jo Thorpe is well known in the region as a Journalist and Producer at ABC South East Radio, which focuses on keeping local communities in conversation “The community is our home, and we are talking to our family” says Jo of the station.  This busy Principal of a Real Estate Agency is also a Surf Life Saver at Pambula (near to Merimbula) and the Vice President of Merimbula Public School P& T, helping with projects like researching new uniforms and helping to develop ethics classes.

Don Peterson, the other Principal of Fisk & Nagle Real Estate, won a National Environmental Award for a start-up company back in the 70’s called Controllex, which saved energy in shopping centres.  As a Sales & Marketing Strategist Don brings a wealth of experience and knowledge to the region and to his role in Real Estate. He mentors his Sales Staff and enjoys helping people develop their skills and, as a result, Real Estate purchasers and vendors can rely on getting top level service and results from the Sales Staff at Fisk & Nagle First Choice Real Estate.

Donating his services as Auctioneer at Charity Auctions Don also contributes to Into IT Sapphire Coast as a mentor to business people with tech backgrounds, helping to develop the region as a tech business hub.  With such experienced and involved Real Estate Agency Principals, vendors and purchasers alike reap the benefits of an exciting, forward thinking  Real Estate Agency servicing Bega, Merimbula, Tura Beach, Eden and Cooma.

Record Land Sale at Tura Beach

A record land sale was recently made in Tura Beach for $530,000 by Fisk & Nagle First Choice Real Estate. The last available block on the point at Tura was sold by David Dwyer, Property Sales Representative.  With outstanding views of the beach and across to Bournda Island and Bournda National Park, direct beach access and a northerly aspect, the buyers will enjoy an exceptional lifestyle experience.

David Dwyer explained why he thought the Merimbula area is a better proposition for property purchasers than further north (for example Batemans Bay), he said “Merimbula is more central to Melbourne and Sydney, with an airport and flights taking only an hour from either city. Tura Beach is built around a golf course, so it’s ideal for golf lovers, there is a new shopping centre and it’s a growing community.  At the northern end of Tura Beach there are new houses being built and now more families are moving to the area, so there is a good mix of retirees and families.”

Property Owners on the Sapphire Coast enjoy a temperate climate, good communities, a clean environment and the fact it is not over run with chain stores with the pick of plenty of boutique shops and artisans in the area.  Any of the towns serviced by Fisk & Nagle – Merimbula, Tura Beach, Bega or Eden offer a great lifestyle.  With a demand for both permanent and holiday rentals in the area and a good range of properties available on the market a property purchase in Merimbula, Tura Beach, Bega or Eden makes for a sound investment.  Of course, the low interest rates right now make it even better! The lifestyle in the area is so enjoyable it is well worth considering purchasing a home or apartment as your residence or keep for your own holiday pleasure.

Property Sales in Bega, Merimbula, Eden and Tura Beach Could Be Affected by Council Rebrand

‘Coast or Cheese’ the headlines on page 4 of the Merimbula News this week blare out.  What in heavens does this mean?  As Liz McCormack explains Marketing is all about image and it may be up to the ratepayers to choose whether dairying, cheese and bucolic scenes of cows grazing best fits the Bega Valley Shire or is it an image of the coast, tourism and sapphire blue seas that would have more cachet?
Councillor Kristy McBain asked at a Council meeting on January 16th for a report regarding rebranding of the Bega Valley Shire to the Sapphire Coast Council, including financial data and the effectiveness of rebranding in line with the upcoming communications strategy.
The idea of rebranding to Sapphire Coast Council has been discussed previously, originally suggested by the Imlay Shire pre amalgamation in 1980 and then again recommended to the council in 2003 by the Area Chamber of Commerce & Tourism (as it was then known).
A rebranding of the shire could have positive consequences for owners selling property, particularly those in the major tourism areas such as Merimbula, Eden, Tura Beach and Bermagui. Prospective buyers from interstate may be more attracted to purchasing a property in the Sapphire Coast Council rather that the Bega Valley Shire , with the vision of sapphire blue waters, coastal lifestyle and all it promises sea changers, emoted by the new brand.
Bruce Leaver, chair of Sapphire Coast Tourism said “The basic branding tenet is that a brand promises an outstanding experience to a desired market.  It is what makes the region standout from its competitors and motivates the potential visitor to come…. A successful brand promises a distinctive and exceptional experience.”  He suggests that the only way to gauge which brand will work best for the shire is through market research and that as two thirds of our domestic market comes from interstate, regular exposure to the Shire’s name may be limited. Any research should test the recognition factor in the name Bega.
Cr McBain told Liz McCormick “I think there is an emotional value attached to the name change which can’t be measured. We are trying to attract businesses; we are trying to attract industry and we are trying to attract professionals and trying to attract bigger airlines.  From my point of view, Sapphire Coast is far more emotive than Bega Valley”. She wants to know if local residents want to change the name and she would gauge it through council’s social media, via Facebook, the council’s website and through the print media. So if you have an opinion on the best name for this shire, now is the time to let it be known.