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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.
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.
What was once the great Australian dream is now a living nightmare for more than 30 000 Australians as homes all over Sydney are being repossessed or foreclosed. To make the nightmare even worst experts are predicting that over half a million Australians will have plunged into severe mortgage stress by the end of the year. Who’s mostly at risk? 
Just wanted to give y’all a heads up! This week we have had a number of apartments primarily in the Dee Why, Collaroy and Freshwater areas that have sold even before hitting the market! Yes, they have all achieved fabulous results. Happy customers all around. Let’s get your apartment on before June 30. Call us on 1300 4 NOVAK 24/7 – we never sleep! 
While meeting with our friend Mike Andrew on Friday (he’s the real estate on line marketing guru!)he dropped the bomb that first home buyers will have to show proof of 3% savings on the purchase price of the property they are purchasing. These savings need to be shown over a 3 month period. This is a pre-requisite to be able to apply for a home loan!. Here’s what Mike Andrew’s blog reported on Friday: “From Monday, headed by the Commonwealth bank, banks will not recognise the the $14,000 for an existing home and the $21,000 for a new home government grants as proof of saving. The banks will now require first home buyers to have saved 3% of the purchase price over 3 months leading up to the application. This move has been brought about by the overwhelming number of home loan applications banks have received over the past few months”. Hmmmmmmmmm…could the honeymoon be over? In any case the first home buyers grant ends on 30 June 2009. We suggest you hurry. Want to live in Dee Why, Freshwater, Collaroy, Harbord, Manly or anywhere on the Northern Beaches? We have your new home! Call us 1300 4 NOVAK – we never sleep! 
We feel we can take a portion of the credit for why Dee Why has been such a popular suburb for first home buyers purely based on the fact that our HQ is situated in the area…we can’t take alllllllllll the credit however! It’s safe to say that the great Australian dream of home ownership is back on the agenda as plunging interest rates make buying property more affordable than renting. This is clearly the case in our very own Dee Why where the suburb has been ranked as the 17th most popular suburb in Sydney amongst first home buyers!!!! Why so? Dee Why is still a very affordable suburb, is right on public transport and is a stones throw away to a hoard of beaches, chic eateries and sassy shopping. Tenants are quickly becoming landlords opting for a loan rather than a lease and are taking full advantage of Kevin ’07’s golden handshake. You’ll have to be quick if you want to join the other estimated 3000 first home buyers who have purchased their piece of paradise in the Dee Why area as fabulous apartments ranging from $300 000 – $450 000 are in abundance however are being snapped up within a week of hitting the market! Yes! We have your first home. Call us 1300 4 NOVAK or 8978 6888….we never sleep.
