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What’s trending

Your quarterly collection of Market News, Advice and Tips.

ISSUE 2 | April 2015

Investing in your investment

We strongly believe that “you get what you pay for” and this is especially true for Property Management. There are plenty of offers promising discounted fees, but what are you really getting for your money? All too often, discounted fees mean discounted service. Not only that, but a better quality service will actually save you money in the long run.

Property Management is an essential service, not just another expense. Your property is one of your most important assets and it deserves to be managed in the best way possible.

That means working with the best in the business, not the cheapest. It’s widely acknowledged in business circles that relying on discounts to attract customers means you can’t match your competitors in terms of quality, service or innovation. It is not worth risking your investment with a second rate service, just to save a few dollars a week. If you needed an operation, would you seek out the best doctor, or would you settle for a doctor that has to offer discounts to attract patients?

The benefit of premium service in a constantly changing market.

Due to low interest rates and the large number of units released in the past 18 months, more and more people are buying investment properties. The increase in supply means tenants now have a lot more options when choosing a rental property.

You can’t avoid market fluctuations like this, but you can work with a proactive Property Manager who adapts to changes quickly and effectively.

We allow tenants to arrange inspections at times that suit them and apply for properties online. By making things easy for tenants, we are achieving a vacancy rate of much lower than market average. Our staff make a career out of Property Management. They are in for the long haul. Our low turnover rate means that we retain our knowledge and experience, it also means you can look forward to a long relationship a Property Manager who knows your needs and the needs of your property.

Our Property Managers individually look after smaller portfolios than the industry average, which gives them more time to dedicate to your property. That is how we achieve less than 1% rental arrears.

It’s easy to see how innovation and better service an save you time, money and a lot of worry.

Don’t get caught out by hidden costs and extra fees.

Discounted offers often include hidden fees and costs which quickly add up, making them much more expensive than you anticipated. On the other hand, our fees are transparent and competitive, so you always know exactly what you are paying for. The difference in cost can be as little as the price of a cup of coffee* a week. In fact, the total difference in cost for our service over 12 months will rarely be higher than 1% and in the long term we will be much more valuable

Getting better Property Management service isn’t hard. It’s as easy as picking up the phone and calling Peter Blackshaw Real Estate Woden & Weston Creek. *Based on the fees charged by Peter Blackshaw Real Estate for managing a 2 bedroom apartment rented at $440 per week, compared to discounted

fees charged for the same property.

Property Management is an essential service, not just another expense. Your property is one of your most important assets and it deserves to be managed in the best way possible.

Property Spotlight Sale Price: $907,000 Auction Campaign: 3 weeks Property Features: Four bedroom home, near original condition, in quiet cul-de-sac. Double garage under plus downstairs store area, established garden. Result: 6 opens 115 groups inspected 14 registered bidders 20 bids

Market Update Sales

As predicted in our last update the January to March quarter has seen the emergence of a very strong market in Canberra. Low interest rates and continued strong demand for quality property saw both prices, and auction clearance rates, rise. According to data from the Domain Group the Canberra auction clearance rate for the March quarter was 68.2% - a level that has not been seen since the September quarter in 2009.

Peter Blackshaw Woden & Weston Creek has achieved tremendous results for our vendors over the past quarter. Our office sold 73 properties between January and March, recorded auction clearance rates significantly higher than the Canberra March quarter average and consistently provided our clients with accurate market appraisals and astute marketing programs to ensure the maximum sale price in the minimum time.

Woden & Weston Creek Office Sales Snapshot

Properties Sold 73

Current Listings59

$1,700,000Highest Sale Price

$265,000Lowest Sale Price

Rental Case StudyDays on market: 7 Property Features: Three bedrooms, two bathrooms, heating, air conditioning, open plan living and dining with timber floors, contemporary and neutral decor, updated kitchen with gas cooker, seperate toilet, fully landscaped gardens, large timber deck, lovely leafy views. Result: Advertised at $500 per week Leased at $500 per week 10 applications

4 Hyde Place HUGHES

1 Shore Place WESTON

$666,084Average Sale Price

January 2015 - March 2015

w

Properties Available19

Properties Rented123

Average Days on the Market12.6

2365Enquiry Rate

$275Lowest Rental Price

545 Open Homes Conducted

Rental market update

The rental market has well and truly bounced back from the downturn throughout 2014, with prospective tenants returning to the market in droves.

Our property viewings have attracted higher numbers than we have seen for the past few years, including one apartment in Mawson with a record of 27 registered attendees at the first open and 18 applications submitted. Prices have been slower to rise with tenants still having plenty to choose from, however days on market have dramatically decreased and we are now averaging around 12 days from first advertising to lease signing.

Quality advertising, accurate pricing and quick responses to both property enquiries and application processing are ensuring we are making the most of the current market conditions and maximising the investment potential for our landlords.

A Selection of Recently Rented Properties

Property Price p.w Bed Bath Car

4 MCPHEE PLACE, CURTIN $850 4 2 3

1 NELSON PLACE, CURTIN $790 4 2 3

11 COCKBURN STREET, CURTIN $650 3 2 2

45B WEBSTER STREET, HUGHES $620 3 2 2

50/21 DAWES STREET, KINGSTON $600 2 2 2

26 HYNDES CRESCENT, HOLDER $590 4 2 2

28 MACALISTER STREET, CURTIN $550 4 2 2

8 SHORE PLACE, WESTON $500 3 1 1

1 SHORE PLACE, WESTON $500 3 2 1

6 KAUPER STREET, SCULLIN $460 3 1 1

27 ALLWOOD STREET, CHIFLEY $525 3 1 2

14 JENSEN STREET, HUGHES $490 3 1 1

1 WEST PLACE, BANKS $350 3 1 2

8/43 CONSTITUTION AVENUE, REID $390 1 1 1

12 PIGDON PLACE, BELCONNEN $350 2 1 0

17/6 HEARD STREET, MAWSON $290 2 1 1

$850Highest Rental Price

For more information contact: Maria Edwards Business Development Manager

January 2015 - March 2015

Woden & Weston Creek Office Rental Snapshot

Team News

While there is always something happening within our team that brings a smile to our faces there were two very happy events during the past quarter that are cause for particular mention – and both emanating from within our property management team.

In February we welcomed back to the fold Kristy McNickle who had been on a period of extended leave taking up an opportunity to live in and explore The Philippines. After six months of deep sea diving, island hopping and absorbing the many different cultures the archipelago has to offer Kristy is settling back in to Canberra life and enjoying catching up with her clients within her portfolio.

In March, Jessica Bianchini, another of our terrific property managers, celebrated her marriage on Queensland’s Gold Coast and after a well-deserved holiday has returned as Mrs Jessica Lemmon. So while her landlords will see a new name on their correspondence

they can be assured of the same dedicated professional service Jessica provides to all her clients.

Peter Blackshaw Real Estate Woden & Weston CreekSales (02) 6282 4488 Property Management (02) 6285 1929E sales@pbwwc.com.au or rentals@pbwwc.com.au12/20 Curtin Place, Curtin www.peterblackshaw.com.au