RBA CUTS INTEREST RATES: TOWNSVILLE LOCAL PERSPECTIVE

The Reserve Bank of Australia (RBA) has cut the official interest rate by .25 percent to 3.00 percent today bringing welcome news to home buyers and home owners.

The real estate sector, housing industry and property investors alike have anticipated a drop in the cash rate as the economy adjusts to increased prices in products and services impacting the property industry as a whole and moderate growth in revenues.

Townsville’s economy has a broad base of industry and government; defense, mining, engineering and agriculture which has supported modest growth in rental accommodation prices driven by increased holding costs and the injection of the 3^rd army battalion to the City early in 2012. Vacancy rates that were published by Herron Todd White in October 2012 have shown an increase in vacancy rates to over 2 percent.

Rapid Realty’s monitoring of prices and volumes suggests that housing prices have been steady across North Queensland with volatile fluctuations from street to street. Similar or slightly lower transaction volumes have occurred in 2012 compared to 2011.

The combination of higher vacancy rates in the rental market, which may reach 3 percent by 2013, together with very affordable house prices that many commentators are saying is bottoming, means that we may have arrived at the most favourable buying conditions for investors in the current property market cycle.

Positive economic news out of Asia and the recovery of USA housing prices and volumes could stimulate more positive news from global markets, and stem the tide of negativity that has dogged markets in our region since the start of the Global Financial Crisis (GFC).

 

State budget corrections and the emerging "policy cliff in Canberra" where the federal government is seemingly persisting with a budget surplus is further risk to the confidence factor in property markets.

 

North Queensland is not insulated from these macro-economic factors by all means, but the local economy has demonstrated positive resilience in the past.

The RBA decision today to reduce the cash rate is further incentive for buyers and investors to enter or expand their exposure to the property market in North Queensland.

 

Trusting the banks to pass on the full .25 percentage point reduction is an uncertain instrument in the current global financial economy for which the RBA or government policy must acknowledge and treat to assist in the recovery of the property markets in the North Queensland.

For more research or to share your own comments about the RBA decision and property in North Queensland, visit one of our discussion forums at:

www.rapidrealty.com.au

http://townsvillerealestate.blogspot.com.au/

http://www.facebook.com/pages/Rapid-Realty-Townsville/122486097777277

Rapid Realty Townsville

Townsville City Councillors Better off Providing Discounts to First Generation Developers

Townsville City Council would serve their community better and leverage rate payer funds more effectively by redirecting money being offered to a City Cinema Developer (see Townsville Bulletin article below) to small and medium size developers because it is more likely a greater short and long term economic benefit would be achieved for the City.

Local Property Investment Consultant and Real Estate Principal, Aaron McLeod said; "Council need to think seriously about turning on small and medium size investors again to the City".

Many small subdivisions and strata developments that were approved before the new Integrated Planning Act was introduced were established by local North Queensland families. This type of small development is now cost prohibitive to local investors. Council has the opportunity to stimulate this market with some initial relief from ridiculous planning and administration costs, Mr McLeod said.

Instead of bowing to large developer’s appealing for reduced planning costs in the City centre where an incentives program already applies of up to 50% on infrastructure charges, the Planning and Development Committee members should seriously question if they are really serving the community interests.

Small to medium size investors have by and large turned off Townsville because of the exorbitant planning costs imposed by State Government and Council red tap to complete suburban subdivisions and community-hub facilities such as local medical practices, corner stores, butchers, bakers and restaurants.

Even the privacy protection legislation is making it more difficult for small investors and developers to simply research investment opportunities in the City, causing many to throw their hands in the air and give up or redirect their attention interstate or overseas.

Just as one example, a local investor and medical practitioner wanted to set up a small psychology practice from an existing residential dwelling, which is located next door to a hotel and across a main road from an existing set of shops neighbouring industrial sheds in a well-established community, and Council planning provided absolutely no encouragement. Not only the investor but the prospective Seller of the residential dwelling is bewildered and frustrated with the system.

These small developments provide direct economic stimulus with construction and operational jobs, but most importantly, it stimulates broader investor confidence and therefore more investor demand for property in the City.

It seems our esteemed Councillors are happy to network and lobby with large corporations in the CBD to facilitate favourable financial outcomes for big business, but they are ignorant to the frustrations and call for help from the network of small to medium size investors local to North Queensland, and the prospective sellers that increasingly under enormous pressure from their banks to sell their properties, simply wanting urgent respite from the intolerable planning and administration fees and charges.

References:

Townsville Bulletin - http://www.townsvillebulletin.com.au/article/2012/11/28/371020_news.html
Rapid Realty Townsville - www.rapidrealty.com.au
MCINC Investments and Consultancy

Rapid Realty Townsville Praised by Vendors and Landlords

Rapid Realty Townsville Team, August 2012

Townsville based and nationally trademarked real estate agency, Rapid Realty Pty Ltd is receiving increasing acknowledgement from Landlords and Vendors for "prompt and cheerful" service.

The locally established agency since 2007 is exceeding expectations in their sales and property management business.

Unlike the USA and New York based Rapid Realty, Rapid Realty Townsville is Australian owned and managed by its Australian founder.

"Receiving praise from our valued clients is invaluable and testament to the level of satisfaction being experienced in our sales and property management business"; Aaron McLeod, Rapid Realty Founder and Principal Director said.

"We have been working hard for five years nurturing our clients and their properties and developing our technology, processes and people to continually improve our services. We pride ourselves on delivering 'real service, rapid results' and, to receive praise for what we love doing is a humble experience.” Mr McLeod said.

A Rapid Realty Landlord from Cairns said; "Rapid Realty has managed two of the properties in our portfolio for several years now. The thing that differentiates Aaron and his staff is that they really do deliver. They do what they say they will do, and they do it promptly and cheerfully. They are by far the best agents we have dealt with. They spend the time on your property, including when the going gets tough. They communicate well and give us a sense that they are a genuine 'partner' in our wealth creation endeavours. What more could investors want. Thanks Aaron."

Another Rapid Realty Vendor from the Sunshine Coast said; “We were a little unsure if this was the correct way to go as there were other agents very willing to sell the property also. However, you asked for the opportunity to sell Mum’s property for two months to see how it went and even after explaining to us that December– January would be fairly quiet trading you affected the sale promptly. Aaron at all times you were courteous and polite and were very helpful to our Mum during the time that it took to complete the transaction. We wish you all the best with Rapid Realty and would have no hesitation in recommending you and your business to anyone in the future”.

Rapid Realty Townsville was foundered by Aaron McLeod in December 2007 in Townsville, North Queensland. On the 7^th December 2012, Rapid Realty will celebrate their 5^th Birthday at their Boundary Street office.

 

Source: www.rapidrealty.com.au

Government Sponsored Development "The Village" Attracting Robust Investor Interest



"The Village" Development Stage 1 - Idalia Townsville

Rapid Realty Townsville is receiving an increasing number of enquiries from local, state and interstate investors wanting local expert direction, price comparisons and property management quotes on house and land packages in the new "The Village - Where the river meets city living" development.

Rapid Realty Townsville Principal and National Director, Aaron McLeod said; "Investors are seeking reliable, independent and trustworthy information from a local real estate expert as they sum up the ROI opportunities.

 

"The Village" development adjacent to Ross River at Idalia is a new Government Sponsored Urban Land Development Authority (ULDA) initiative only 1 kilometre from Rapid Realty Townsville's office.

 

For more information, appraisals and property management quotes, go to www.rapidrealty.com.au

Rapid Realty Townsville Welcomes Locally Born Business Development Manager

 

Rapid Realty Townsville welcomes the appointment of  Tracey Walsh as Business Development Manager - Rentals.

Tracey is a career Property Manager with several years experience in the rental market. She has recently joined Rapid Realty as a Business Development Manager.

Her personal goal is to be a part of a team who are known as Townsville’s most professional, reliable and leading Real Estate Agency. She prides herself on her ability to provide comprehensive, reliable and outstanding service.

Tracey is a born and bred Townsville local and knows the city and surrounding areas like the back of her hand. Her success in real estate has been built from hard work, understanding clients’ requirements and a great local knowledge.

Tracey has a large network of clients gained through her vast knowledge of the property market and ensures all new and existing clients receive up to date information about the current real estate market.

Tracey brings with her an impeccable sense of service excellence and communication skills gained from her previous experience in the real estate industry and management positions.
www.rapidrealty.com.au

BOOM PRICES GONE FOREVER: GAIL KELLY, WESTPAC

Mal Charlwood

The head of Westpac, Gail Kelly, stated this week that property sellers who are waiting for the return of the “ price boom” days are going to be disappointed.

She said those heady days are gone forever as banks don’t allow the extravagant borrowing amounts like they did a year or so back.

People who want to sell their properties must be aware that the market has changed forever and comes to terms with today’s prices... even if you bought in the height of the price hike...

References:

Radio Real Estate Triple T 103.9 FM (Sat: 9am)

http://www.townsvillebulletin.com.au/article/2012/06/23/340911_real_estate.html

realestatetalkback@gmail.com

Majors Creek School Sells to Private Buyer

Majors Creek School was sold to a private buyer yesterday with an unconditional contract for the asking price of $264,000 from Education Queensland.

Locally founded real estate agency, Rapid Realty Townsville won the tender and was appointed by Education Queensland to auction the property on 21st April 2012.

The auction was held onsite at Majors Creek School, 45 minutes west of Townsville, last weekend and attracted seven registered bidders and over twenty guests, a few of which demostrated their opposition to the sale.

Retiring Mayor Les Tyrell said to the Townsville Bulletin (19th April 2012); "I would call upon the education department to rethink their tactics and withdraw it from the market, and arrange to transfer it to a community organisation, whether that be through the council or not - we can sort that out later."

Rapid Realty Townsville's Auctioneer Mal Charlwood said; "three active bidders on the day of auction pushed the final bid to $221,000, at which price the property was passed in for not reaching the reserve."

It is understod the successful buyer intends to utilise the three main buildings, tennis court, cricket pitch on 3 acres as their private family home and place of residence, Mr McLeod, Principal Rapid Realty Townsville said.

Dispite some local protests from a few local residence, the 77 year old school will now be used for private purposes.

References:

http://www.townsvillebulletin.com.au/article/2012/04/12/321881_news.html

http://www.townsvillebulletin.com.au/article/2012/04/19/323991_news.html
www.rapidrealty.com.au

Green Light on Auction of Majors Creek School

Rapid Realty Townsville has the green light from Education Queensland to sell Majors Creek School under the Auctioneers hammer tommorrow (Saturday) at 2.30pm despite some determined opposition from local residents and Townsville's Major Les Tyrell pleading with the State to gift the school to the community.

Mayor Les Tyrell said to the Townsville Bulletin (19th April 2012); "I would call upon the education department to rethink their tactics and withdraw it from the market, and arrange to transfer it to a community organisation, whether that be through the council or not - we can sort that out later."

Rapid Realty Townsville Principal Mr McLeod said; "Local Townsville residents and groups have a unique opportunity to buy the 77 year old school buildings in fair condition on 3 acres, two titles, tennis courts, water tanks and fencing only 45 klm from Townsville City and within the shadows of Mount Elliott and Bowling Green Bay National Park".

Mr McLeod also said; "This type of government asset does not come onto the buying market very often, and even less so in the future because once they are sold to a private interest they rarely return to public hands".

"Residents and interested buyers can view the property for 1 hour at open for inspection immediately before the auction for the final time before it is sold to the highest bidder", Mal Charlwood, Rapid Realty Townsville's Auctioneer said.

Interested buyers should contact Rapid Realty Townsville (www.rapidrealty.com.au) now to register their interest in the auction and be prepared with their bank cheque deposit and signing of the unconditional contract on the fall of the Auctioneer's hammer.

References:

http://www.townsvillebulletin.com.au/article/2012/04/12/321881_news.html

http://www.townsvillebulletin.com.au/article/2012/04/19/323991_news.html

SOUTH TOWNSVILLE BUYING BONANZA ON EVE OF MARINA DEVELOPMENT

South Townsville's popular Sixth and Seventh Avenues is set to experience a buying bonanza next month as five properties within the precinct of the new South Townsville Village Residental and Marina Development goes under the hammer at auction on 28th April or sold beforehand.

The South Townsville Village Residential and Marina "development would take place on land left vacant by relocation of the marine industries, which presently occupy the site, to the Marine Industries and Boating Facilities Precinct."

"Relocation of these marine industries would become necessary when their ocean access was locked by the Eastern Access Corridor bridge (which is likely to have a low navigational clearance). The concept envisages small lot residential development with emphasis on ready access to the marine environment and to Townsville’s central area." (http://www.deedi.qld.gov.au)

The Sixth, Seventh and Boundary Street properties presents an amazing opportunity for investors and home buyers wanting to establish a property foothold in Townsville's only bayside, riverside and island suburb in which significant capital is being invested by government and commercial enterprises to enhence residental living so close the Townsville City heart.

The strategic location of these properties so close to hotels, resturants, transport, city and port facilities including new cruise ship terminal, Reid Park's V8 Supercar track, cultural precinct and Civic Theatre, schools and shops shines brightly as a beckon to astute buyers in North Queensland, Rapid Realty's Principal Aaron McLeod said.

Detailed information about each property is available on Rapid Realty's website (www.rapidrealty.com.au), South Townsville's only locally run and operated agency.

Rapid Realty Principal, Aaron McLeod