March 2023 Newsletter
Hi Neighbour!
Happy International Women's Day for yesterday! As a female founder of my own company, a single mum to my wonderful boys, and a strong supporter of women's (all) education, I believe that women can have it all. Opportunities are growing for us, the workplace has changed so much in the past 20-30 years. We now recognise that there is so much talent that we can access, regardless of people still choosing to become parents. With the added flexibility, and the recognition and embracing of equity, it is now much easier to raise a family and be a successful professional. We no longer need to fit a role, but build a life that fits us. Having said that, there is still plenty of work to do!
The Neighbourhood has recently partnered with the Education CHANCES Foundation who provide scholarships to deserving youths under financial burden. Their founder Helen Worladge is a woman I admire greatly. Her tenacity, compassion and drive to help educate this group of disadvantaged students is truly admirable and together, I hope we can improve the education of students in Boroondara and continue their incredible work.
In this newsletter you will find a few articles we thought were relevant, such as a list of the top 500 women in property, giving recognition to those doing well, along with a publication addressing the increase in female loan requests and the potential for more women investors. Interesting reads!
With so much competition amongst renters at the moment, investors and rental providers are in a good position. The market has a record low vacancy rate, and our folio is aligned with this with just one property on our vacancy list for the week. If you wish to become a rental provider, call us to discuss your property management options.
Finally, the footy is back in just a couple of weeks. Go Blues!!
Thank you and enjoy your day, week, and month!
Speak Soon.
Carmela
MARKET INSIGHTS
We strive to stay up to date on the latest market trends. Here are a few articles we think are worth reading.
- "Value declines flatten as low advertised stock levels keep a floor under prices".
According to CoreLogic, the national Home Value Index (HVI) declined -0.14% in February, representing the "smallest monthly fall since May 2022 (-0.13%) when rate hikes commenced". This will be interesting to watch over the coming months as we start to see more activity in the market, something we believe is inevitable as we come out of summer, and as we approach the 'fixed-rate mortgage cliff' (see more below). However, most analysts are predicting rate rises to top out soon which may provide more certainty. We're finding it fascinating to watch...
- The 'fixed-rate mortgage cliff' has been talked about at length over the recent months in Australian media.
For anyone who has missed it, Eliza Owen outlines five things to know in this article. It's a decent summary.
- SUPER, SUPER, SUPER! Forever in the spotlight in Australian politics, we have more proposed changes to an already complex tax system.
The Labor Party are claiming this will only impact a small percentage of retirees. They may be right, but it will be interesting to see the downstream impacts. Naturally, we're in favour of fair tax systems, but we're not sure it's a great strategy to tax people's retirement funds as we enter a period where the retired demographic is going to be bigger than it has ever been and therefore the burden on our superannuation. Not to mention what it might say about innovation and building a solid nest egg. There is still a lot to be thought through but there's no shortage of things to be discussed. We would love to hear your views.
- The rental market is at record low vacancy rates with some students paying six months' upfront rent.
This is consistent with what we're experiencing in our portfolio. This week we only have one property vacant!
- This is a great story as well as celebrating International Women's Day.
The trend of single female applications for home loans increasing (both in number and value size) highlights the rising participation rate of females in the workforce.
- Another interest rate rise was announced this week, with rates now at 3.6%.
This is the 10th conservative rate rise and there's no doubt it is impacting the sales market. It also impacting the rental market.
COMMUNITY BULLETIN BOARD
What's new in your neighbourhood? These are a few recent updates that are happening in some of our local communities.
- Burwood Brickworks Community Market
Burwood Brickworks Shopping Centre is hosting a community market on each second Saturday of the month between 10am and 4pm. This new market is located in the eastern suburbs and has stall applications open for small businesses.
- Melbourne International Comedy Festival
Get ready to laugh with dozens of different shows available between March 29th and April 23rd. The comedy festival is a showcase of global talent. Look into their neighbourhood sessions for shows a bit closer to home.
- Harmony Day Lunch in Broadmeadow
Celebrate cultural diversity with a local lunch in the Hume City Council. Volunteers will be preparing a vegetarian 2-course meal (for just $3) and traditional dress is encouraged.
- Farmer's Market in your Area.
Buying directly from local farmers skips the step of supermarket distribution and offers fresher produce for you and your family. Victorian Farmer's Market Association has a list of upcoming farmers markets across the state. Keep an ear out for markets in your area.
CAUGHT OUR ATTENTION
Here are a few things that members of our team have stumbled across over the month. Whether thought-provoking, interesting or entertaining, we want to share them with you.
- "Why this year (2023) will be the tipping point for electric vehicles".
An interesting and quick story about the politics surrounding EVs and whether or not they will take off in Australia.
- All about the optimum size of groups, whether for friendship, parties, or at work.
This is another relatively quick podcast about the invisible ingredients of human relationships. It specifically covers the role that hormones, brain-size and time play in connections we build.
- 500 Women in Property.
As a female who has worked in the property industry for a long time, it is amazing to see that we're now celebrating the top 500 women in property.
- Neighbourhood Book Swap.
Our marketing manager, Casey, saw this street library in her area. She pulled out a book and found 'The Book Club'. Complete with a street library on the cover, what symmetry! Keep an eye out for street libraries in your area and share your stories with your neighbours.
