September 2022 Newsletter
HEY NEIGHBOUR!
Spring has arrived! It's been a long winter with the constant threat of Covid hanging around and the flu. It will be nice to put the winter months behind us as we hurtle towards Christmas.
Its been an awful month - Queen Elizabeth II has passed away and we will all have to get used to saying 'King' Charles. Whilst I am not a monarchist, I feel that I should still mention my absolute admiration for the Queen. She was a constant in our lives and remained loyal to the crown and all the traditions associated, many of which were beautiful.
Back on home soil, there has been another rise in interest rates. These rate hikes are starting to hurt. I don't think we will see the real effects of the rate increases for a few months, but the real estate market has started to pull back and all predictions are that there are more rate increases on the way. With the increasing costs of living, the RBA has no other way to 'cool the economy'. Its difficult to be certain but I sense there will be a lot of opportunities coming up for those that are ready to buy. It will be an interesting spring sales campaign for real estate.
Rental prices also continue to climb. Across our whole portfolio we have had less than 6 vacant properties every week (less than 2%). As they become vacant, they are leasing quite quickly. We have been busy sending out Rent Increase Notices and doing routine inspections to keep up with demand.
It is a short week thanks to the public holidays in honour of the passing of the Queen and our Grand Final. We also have the school holidays. For those going away, I hope you have a restful break.
As it warms up, if you feel like coming in for a coffee or tea, we'd love to say hello!
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.
- Largest Wind Power Producers in the World.
From our Partners at ProAcct Accountants and Financial Planners, we thought this was an interesting viewing about the world's largest wind power producers from 1990 to 2021. - Changes in Housing Affordability.
The REIA have a 20 year report on the variation in costs of housing in Australia. - Property Investors presented with an opportunity.
See the upside of rising interest rates, and take advantage of the changing market. - How much money do you need to retire?
ProAcct and Vanquard, they provide some advice about how much you might need to retire. With uncertainty in markets globally right now, this may be a question that more people are becoming more concerned about.
COMMUNITY BULLETIN BOARD
What's new in your neighbourhood? These are a few recent updates that are happening in some of our local communities.
- Monash Youth Film Festival.
Get creative and submit an entry to the Monash Youth Film Festival by the 21st of September. It is free to enter and the winning films will be screened at Century City's Village Cinema.
- September is Save the Koala Month.
Koalas were listed as an endangered species is several states this year. There is estimated to be marginally less than 60,000 koalas left in the wild. The Australian Koala Foundation has 30 ideas on how we can help protect our national treasures this Save the Koala Month.
- Keep the Kids entertained these School Holidays.
Whitehorse have released a school holiday program, including Chatterbox for Kids. A free event where kids can hunt for treasures around the Schwerkolt Cottage and museum.
NEIGHBOURHOOD NEWS
Here in The Neighbourhood office, we work to continuously improve your experience and our services. Our below efforts in the last month were focused on building a helpful and inclusive community.
- Our August Update.
Last month, we leased 11 properties and handed out our renter welcome packs to our new members of the Neighbourhood.
- Published our Spring Blog.
Have a read of the ways you can enjoy spring weather, without needing a big backyard. There are so many options for renters that haven't got the set up to host family BBQs or go for a swim in their pool. This blog outlines 5 ways you can enjoy the same activities no matter what your set up. - Socials have been launched.
We look forward to connecting with you across our platforms. Like, follow and share to those you think will benefit from our content, from rental tips to property profiles.
