December 2022 Newsletter
MERRY CHRISTMAS NEIGHBOUR!
To all our valued clients, renters, owners and friends alike, we would like to extend our heartfelt best wishes for the holiday season. We have concluded a year of uninterrupted trading and settled into the different office scape created by Covid. It has been a year of teams/zoom meetings and virtual inspections. Personally, this was hard to adapt to, but I've been able to appreciate and improve our processes leveraging technology to make things more efficient for everyone. There have been a few silver linings...
Further to last month's newsletter, Labor has been re-elected for another term. Investments in infrastructure will continue which will continue to drive jobs and investment in construction primarily which will also impact inflation (amongst many other things). Interest rates continue to rise, which has caused a downward spiral in sales volumes and values in both commercial and residential properties over the past six months. Additionally, demand for rentals is high creating a lot of pressure on the rental market. We have an extremely low vacancy rate at the moment.
We are getting increasingly busier towards the Christmas break and strive to stay on top of tasks as more come in. Unfortunately, the rain is constant and causing concern and issues for some of our clients, but we will work hard up until Christmas, then the office will be closed between Christmas and New Year (Dec 23rd - Jan 3rd), giving our devoted team some well earnt time off. We look forward to seeing you in the new year.
We hope you enjoy this time with your loved ones, as well as finding a moment to do some good in the spirit of Christmas. The Neighbourhood is giving the gift of education this Christmas in the form of a donation to the Chances Foundation. Each year a young student receives a scholarship to help them with the financial burden of their studies. Everyone deserves to have the chance to learn, and this scholarship gives a young student the opportunity to study without the excess financial burden. We will send out more on this in 2023!
Thank you and enjoy your day, week, and the rest of the year!
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.
- "Aussie house prices fall another 1% in November"
Christopher Joye explains why his analysis is anticipating a total peak-to-trough loss of 15-20% in house prices across the country.
- Will Australian renters see the same relief that US renters recently received?
Angus Moore (realestate.com.au) compares the two rental markets and the likelihood for Australian renters to shift into reformed share houses.
- Election fallout: one of the key Labor Party plans is focused on energy.
Daniel Andrews plans to bring back the State Electricity Commission which "includes a $1bn investment to deliver 4.5 gigawatts of renewable energy capacity, to be owned by the state and run by the rekindled SEC". There's plenty of argument about whether this is a positive move focused on the future of energy or whether this might be Desalination Plan 2.0.
- 12 More Months of Rate Increases.
Housing Prices are likely to fall a further 10% in the next year as interest rates continue to challenge Australians. This article is visible with a subscription.
COMMUNITY BULLETIN BOARD
What's new in your neighbourhood? These are a few recent updates that are happening in some of our local communities.
- Get your Santa photos organised.
Meet Santa and get a photo to capture the moment with Christmas Memories. Even share the moment with your furry friends at a pet photo session.
- Vision Australia's Carols by Candlelight are back for their 85th year!
Surround yourself with family, nibblies and song while you raise funds for children who are partially or fully blind. On Dec 23rd or 24th at the Sidney Myer Music Bowl.
- Victoria is offering free public transport on Christmas Day and New Year's Eve
It is expected that half a million people are expected to visit the CBD on these days.
- Use the Scout Christmas Tree Locations 2022 Map to find your nearest Tree sales point.
Buy your Christmas tree from Scouts Victoria. Scouts are a well-known community group and the proceeds from their Christmas tree drives help maintain their facilities and will support their programs.
- Any emergencies over the holidays, refer to our emergency suppliers.
Josh from J Day Plumbing (emergency plumber) - 0402 649 599
Luke from Appliance Fixer (emergency electrician) - 0403 671 657
Any other emergencies, call Carmela - 0416 950 188
