WHY DEE WHY?

| Date:9 November 2009

Gone are the days where most of us used to walk around Dee Why in our boardies and thongs. Seems these days many more of us are swanning around in our best designer clothes in what is now the new uber chic Dee Why!

Dee Why has done a huge about face in the past 5 years where it once was somewhat of an untidy borderline daggy kind of neighbourhood to what it is being transformed into now.

So, why the change?

In the past 5 years Dee Why has come ahead in leaps and bounds and it seems it is now the “in” place to live.

You’d have to be living in a bubble to not notice that Dee Why is located in an irreplaceable position, with many residential streets being just a hop, skip and a jump to the world famous Dee Why Beach, Manly Beach & beyond.

Loads of luxury, state of the art apartments are going up in the area which is encouraging a slightly more mature, asset rich demographic. On the other end of the scale it appears that Dee Why is now made up of a young, trendy population with 40% between the ages of 20-39 years of age. The majority of these young inhabitants seem to enjoy a rather sizeable income and many own their own property within the area. This is a real family suburb with the benefit of having a surf beach right at the front door.

One would never go hungry in Dee Why with some 46 restaurants, cafes and bars many overlooking the beach where you can grab anything from Pizza to Indian spices, there is something for everyone! With all the new developing going on in Dee Why there has been a huge increase in the number of eateries with one trendier than the next. Been to Dee Why Market Place yet???

There is a ton of sporting clubs including rugby clubs, golf clubs and of course surf clubs together with some incredible child care facilities many of them brand spanking new.

A sensational mix of shops, 280 shops to be specific, including trendy boutiques and availability to your everyday items makes Dee Why a highly desirable place to grab a dress, get your hair done or jump in to the gym.

It’s seriously central location means that you can hop on a bus and be in the CBD within a half an hour or catch a ferry from Manly Beach, just moments away.

Just walking through the streets you’d be blind to not notice just how mutli cultural Dee Why is. The fabulous mixture of races and religions introduces a wonderful flavour to Dee Why where many nationalities live together in a peaceful, safe & harmonious environment.

Of course last but not least…Dee Why is home to The Novak Agency! We’d like to think that we set the benchmark for Dee Why now being as cool and trendy as what it is….however I think we’ll have to bow down to the many developers that saw the potential in this little piece of paradise….

Thump Thump Thump

GOOD NEWS FULL OFFICIAL DATA CLICK HERE

Record August growth in home values despite first home buyer demand winding back.

Capital city dwelling values – first eight months of 2009
•Sydney values up 8.6% to $546,867
•Melbourne values up 11.6% to $467,280
•Brisbane values up 5.2% to $443,197
•Adelaide values up 3.1% to $ 407,227

National property values jumped by almost 2 per cent in August in the largest monthly movement since the
RP Data‐Rismark Home Value Indices began in January 2005

According to rpdata.com research director, Tim Lawless, the August results
surprised on the upside and are indicative of very high levels of buyer
confidence combined with low levels of listings.

“These buoyant conditions sit in striking contrast to the same time last year
when values were falling, less than half of the auctions held cleared.

GOOD NEWS FULL OFFICIAL DATA CLICK HERE

Size of first-home buyers’ loans inflating

As reported by news.com.au THE average loan size for first-home buyers has risen by $52,000 – or 23 per cent – in the past two years, raising fears that the much-publicised government incentives for young buyers are artificially inflating the market.

A report commissioned by Brandmanagement, a market research firm specialising in the finance sector, says the average size of loans being taken up by young home buyers is jumping by an “unsustainable” amount, The Australian reports.

Drawing on Australian Bureau of Statistics figures, the report has found the average size of the loans rose by $11,400 in the three months to February, after rising by $18,100 in the three months to November.

In total, the first-home buyer average loan size jumped by $52,000 to $280,600 in the two years to February.

The huge rise in the value of their individual loans in recent months has seen first-home buyers become an increasingly important part of the residential loan market.

The figures show that by February they comprised 26.9 per cent of that market: up from just 17.3 per cent in February 2008.

The actual number of first-home buyers also rose sharply in the year to February 2009: rising from just over 9000 to more than 14,400 in the year to February 2009.

The Federal Government’s First Home Owner’s Boost scheme – which provides up to $21,000 for new homes and $14,000 for established homes – is now being progressively phased out, and will cut out altogether after the end of this year.

Sydney couple David Halter and Kate Tulip, both 25, are among the thousands of first-home buyers who have entered the market – and taken on a sizeable mortgage – since the beginning of the year.

Last month they bought a two-bedroom apartment in Lindfield, on Sydney’s north shore, and Mr Halter said the first-home buyers grant was a major factor in their decision to buy the flat.

But Brandmanagement’s principal, Andrew Inwood, said the statistics – which indicate that property prices are rising in line with loan sizes – have raised questions about whether the government incentives were simply being used by consumers to buy into a bubble.Read more on this story at The Australian.

Selling? Choose an award winning Agency – The Novak Agency – DeeWhy

THE RACE IS ON – 57 DAYS TO GO!

Ready, set, go!

If you’re reading this chances are you’re a first home buyer who hasn’t yet purchased your first home! Right?

Well, you have 57 days to buy that home! Why rent when you could be paying the same, if not less, and own your home!

Our lovely PM is literally handing you money on a platter to purchase your first home and with interest rates at an all time low, it is THE absolute best time to buy your very own home.

For those looking to buy an already existing property, you’ll be given $14000.00 and for a brand new property you’ll get a whopping $21 000.00.

To make things ridiculously clear we have written a very clear & simple list of facts for the first home buyer…

1. You must be an Australian Citizen or Resident and have never previously owned a property

2. The grant varies from state to state however here in NSW the grant has increased (until 30 June 2009) to $14000 for existing residences (not newly built) and $21 000 for an unlived in or brand new residence

3. The Government gives you the first home buyers grant in the form of cash to add to your deposit and this is usually paid for at the time of settlement

4. If you wish to apply for the grant go to www.osr.nsw.gov.au and fill in the application form

5. Stamp duty is exempt on properties up to $500 000 i.e YOU PAY NO STAMP DUTY AT ALL

6. Stamp duty comes into effect on properties with a value of $500 000 or more however MASSIVE stamp duty concessions apply i.e on a property priced $510 000 the stamp duty usually would be $18 440 however with the new government grant YOU ONLY PAY $2249….that is a saving of $16191.00

7. For more info on stamp duty and for an idiots guide to discounts applying to stamp duty go to www.mortgageworldaustralia.com.au/Assets/firsthmplusNSW.pdf. We have loads of fantastic first home buyer properties. Like the rest of Sydney, take advantage of the governments golden handshake

Check out The Novak Agency ad on the back page of The Manly Daily, surf our site for all of our latest properties or call us on 1300 4 NOVAK (or 8978 6888) to tell us exactly what you want, we’ll find it for you. We work 24/7….we never sleep!

Good news !!! Going up?

Business confidence recorded solid gains in the first quarter of 2009, but growth in 1Q09 appears to have been weak, with actual conditions deteriorating further.

Confidence improved by 7 points to -24, while conditions fell by 4 points to -20. The decline in conditions was once again consistent across the components, with trading (down 10 points to -20), profitability (down 5 points to -21) and employment (down 9 points to -25) all recording declines.

The survey provides a grim outlook on the prospects for the labour market, with only 5% of firms reporting any difficulty in finding suitable labour — compared to 30% a year ago.

SUPERSIZE ME! THERE’S NEVER BEEN A BETTER TIME TO UPSIZE YOUR PROPERTY…ESPECIALLY ON THE NORTHERN BEACHES

SUPER SIZE!!!…..Famous words for those of us who are fortunate enough to dine at McDonalds. These words were also made famous by independant film maker Morgan Spurlock who made millions of dollars with his film “Supersize me” where he limits himself to only eating McDonalds over a 30 day period and had to supersize his meal each and every time he was asked.

For those that have had the pleasure of dining at McDonalds, we know that there is great value in supersizing or upsizing our meal(apart from the extra kg’s we add to our waistlines). Generally we’ll only have to part with a dollar or so for the pleasure!

Surprisingly enough this exercise rings true right here, right now with the Sydney property market.

As crazy as it sounds now has never been a better time to supersize your home especially on the Northern Beaches. Let’s look at it this way. The lower end of the property market, say up to the $500 000 mark is on the move right. For those of you sitting on property in this price bracket, you’re laughing. Lower end home owners…..it’s a great time for you to sell up, cash up and supersize your home especially for those of you living in Dee Why, Collaroy, Freshwater and the surrounding suburbs. Upgrading from the lower price bracket to the medium price bracket is very achievable right now as the middle price bracket has remained stagnant and therefore the jump from say a $500 000 unit to a $750 000 townhouse is now VERY feasible.

Surprisingly the same tune rings true for those supersizing your homes from the middle range price bracket to the high end range of living. Luxury housing in Sydney has actually dropped over the past six months making it therefore much more attainable for the medium level home owners to upgrade their homes with a relatively small (if any) jump in mortgage repayments.

Another fabulous reason to supersize your home right now is to of course to take full advantage of the 60 year all time low interest rates now sitting around 5%.

The market will certainly not stay this way forever. Now is an opportune time to take advantage of a fantastic market and utilise the opportunity to supersize your standard of living today and live in that home you always dreamed of.

We have your home.

Call us on 1300 4 NOVAK or 8978 6888.

24/7.

We never sleep.

THE NOVAK AGENCY – YOUR “SUPERSIZE ME” SPECIALISTS LOCATED ON THE NORTHERN BEACHES OF SYDNEY.

For more info go to www.thenovakagency.com

Reserve Bank Announces Interest Rate Cut

The Novak Agency is happy to report that The Reserve Bank (RBA) has cut interest rates by 0.25 of a percent (25 basis points) taking the official cash rate to a historic low of 3.00%.

We are also happy to report that CBA has headed the big four banks in slashing it’s interest rate by 10 basis points! You rock CBA….every little bit helps.

Buying a home has never been more affordable! Check out what we have on offer. We do have some sensationals buys….snap, snap!

Check out our hot properties at www.thenovakagency.com

Pssst…..You’d be a twit not to follow us on Twitter….http://twitter.com/thenovakagency

Biggest lift in home prices in 18 months!

Credit growth poised to recover Home prices; Private sector credit

• Australian home prices rose by 1.1 per cent in February, the biggest gain in 16 months. Dwelling prices were up 1.1 per cent for the first two months of 2009. Melbourne and Sydney led the gains.

• Private sector credit (loans outstanding) was flat in February with the annual growth rate falling to a 15-year low of 5.4 per cent. But money supply (M3) was up 14.7 per cent on a year ago.

• Credit responds with a lag to interest rate changes and new lending. New lending over December and January was the strongest in 18 months, so credit will lift in the second half of 2009. What does it all mean?

• Australian and US housing markets are like chalk and cheese. More?

Hold that home loan…UNEMPLOYED gets a helping hand from the big BANKS!

The “big four” (that’s Novak slang for the big four banks have come to arrangement to throw a lifeline to those struggling to pay their mortgages. These unprecedented move is aimed at preventing those struggling families from losing their homes. Commonwealth, NAB, Westpac and ANZ banks will actually place a freeze on mortgage payments in certain cases undergoing financial hardships. The government has recognised that the greatest fear for those who have or will loose their jobs is how they will pay the mortgage. This being said Mr Rudd set out to ask the Treasurer some time ago to negotiate an “assistance package” with the big four banks. Mr Rudd says the move will provide for a better handling of borrowers in hardship through job loss. He says banks will postpone mortgage payments for up to 12 months, with interest to be capitalised into the loan. The banks are also considering extending the period of mortgage contracts and reducing payment amounts.