The Best Time to Buy Units is Now!

Buyers have been warned not to give into scaremongering claims of an “overcooked” apartment market as property experts insist now is the best time to buy.

Following fresh revelations that more than 20 per cent of apartments in inner Brisbane are sitting empty, according to a new BIS Oxford economics report, property solutions expert Selena Corness from Universal Buyers Agents said with prices at a new time low now is the time for opportunistic buyers to strike.

Universal Buyers Agents

“Now is absolutely the time to buy and diversify your portfolio,” Ms Corness said.

“In the past 18 months there have been a lot of new residential multi-storey unit complexes completed within a 2km radius of Brisbane CBD.

“This has flooded the market and pushed prices down.

“Unfortunately this had led to buyers panicking and pulling back on investing in this market segment. But the reality is they’re scared and confused because now is a buyer’s market for units in Brisbane it’s the first time in years where you can get prime real estate close to the city at an affordable price.”

Ms Corness said buyers only need as little as $300k as a pre-approved loan to invest in a unit in one of Brisbane’s $2m+ home markets such as New Farm and Teneriffe, a dream that would have been out of reach only five years ago.

“Not too long ago living in these inner city locations would have been a dream for most buyers but now prices are at the bottom end of the market it’s a dream that can become a reality,” she said.

“We know that prices will not continue to stay this low so there is a lot of opportunity to make smart investments that will create great returns in the long term.”

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Brisbane unit development Belise apartments in Fortitude Valley have slashed prices by nearly 25 per cent in an effort to move the last of its units.

The largest price reduction was for the last two-bedroom, two-bathroom unit, down from $632,000 to $475,000

Ms Corness said for buyers this is the perfect example of how much growth is left in the market when prices eventually return to equilibrium.

But she does warn that such bargains are complicated to find and buyers should seek the advice of buying agents to ensure they are really getting a good deal.

“We look for things like historical sales data for the unit complex to see how it has performed during other market downturns,” she said.

“If you have $600k to invest in the Brisbane property market my recommendation would be to split it and buy two units in different buildings aiming for an immediate minimum gross rental yield of 5.5%”

She said a number of interstate buyers are realising the opportunities and have reached out to buying agents to explore investment.

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“By buying smart and taking advantage of the market buyers are really in the drivers seat.

“It’s a real glass half full view – you could choose to see the doom and gloom side of the market and see it as half empty or appreciate it for what it is as a buyer – an opportunity.”

Please call us on 1300 117 561 or Click Here for further information on how we can help you buy your dream unit!

Luxury home market booming in Brisbane

While Brisbane’s property market continues its solid performance in 2018, it is the city’s luxury property market that is moving at a rapid rate.

A recent listing on realestate.com.au proves the high-end market is booming, with a riverfront home in one of Brisbane’s most prestigious streets hitting the market.

The five-bedroom, six-bathroom home, sitting on 2137sqm of waterfront land on Virginia Street in Hawthorne, boasts city views, two swimming pools, a spa, a tennis court, putting green, a boat house, a private jetty and a wine cellar.

And it’s not alone. On the realestate.com.au site, there are more than 250 luxury homes listed – most offering skyline views, huge floor plans and all of the little indulgences expected when purchasing a home in the millions.

As the city’s wealthiest hunt for prestigious properties on the market, Universal Buyers Agent’s Selena Corness says when it comes to multi-million- dollar purchases it is worth enlisting the help of a property buying expert.

“The high-end market is moving quite rapidly in Brisbane at the moment and when it comes to purchasing a luxury property, a buyers agent Brisbane can definitely make the process a lot smoother,” Selena said.

“Particularly when such a large investment is being made, it is a good idea to have an expert helping you through the process.”

Selena said a lot of high-end, luxury purchases are made by interstate buyers.

“While buyers agents can help first home buyers and inexperienced buyers find their dream home, they are also extremely beneficial for time poor investors and interstate buyers,” she said.

“Purchasing a property can be particularly hard if you are an international investor or located in another city.

“There is always the fear of missing out on your ideal property, due to your proximity and lack of presence.

“A buyers agent is your expert on the ground. They can inspect, negotiate, and appear at auctions on your behalf – taking the stress out of the process.”

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Aussie house hunters taking an hour to buy a home

In the time it takes to watch an episode of Game of Thrones, cook a lasagne or listen to a podcast, Australians are making one of the biggest decisions of their lives.

According to new research, more than half of Australian house-hunters spend just an hour inside the home they decide to purchase.

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The ME Bank survey of 1000 property owners revealed once they found their property, 58 per cent spent less than 60 minutes checking out the property they eventually purchased, despite being one of the biggest purchases of their lifetime.Furthermore, more than a quarter (26 per cent) of home buyers discovered issues with their property after they purchased it.

Around 36 per cent of this group said they missed picking these up issues because they ‘fell in love with the property and overlooked them’, while 32 per cent said they ‘lacked experience and skill in inspecting the property’, and 11 per cent were simply ‘impatient and tired of looking’.

Top post-purchase problems included paintwork, construction quality, gardens and fences, and fittings and chattels.

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Universal Buyers Agent director Darren Piper said the research highlights the importance of doing your homework before making a purchase.

“Home buyers are often signing the paperwork to their dream home with rose-coloured glasses on,” he said.

“After spending weeks or months scrolling through listings and inspecting homes, it is common for home buyers to get complacent once they think they have found ‘the one’.

“Unfortunately, this often leads to some oversights which the buyers are then left to deal with after the deal has already been done.”

Among owners who identified issues:

74 per cent spent money fixing, replacing or improving the issues identified, or have plans to do so.
41 per cent would have paid less for the property had they discovered the problems earlier.
23 per cent experienced a degree of ‘buyers regret’ following the purchase.

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Mr Piper said emotions can often cloud judgement when it comes to purchasing a home.

“Once a buyer starts making decisions with their hearts instead of their heads, that’s when they can pay too much for a property or overlook important issues,” he said.

“It’s important to spend more time inspecting the property you have your eye on with several return visits at different times of the day.

“Make sure you keep inspecting other properties too, so you can compare and contrast.

“Enlisting the help of a buyers agent will help avoid any of these issues occurring and ensure a buyer makes the best decisions when it comes to purchasing a home.

“Buyers agents are here to guide the buyer and keep a logical mindset and keep the emotion out of the transaction, therefore reducing the risk of anything going wrong.”

According to ME’s survey, around a third failed to arrange a professional building and pest inspection for the last property they purchased.

To ensure you buy the right property at the right price give our team a call now on 1300 117 561

A day in the life of a buyers agent

It is easy to picture a property industry professional sitting in an office, sipping on a latte and counting down the hours until 5pm.

However, a lot more goes on behind the scenes – especially for a buyers agent on a mission to help investors and homebuyers find the ideal property that ticks all the boxes.

From meeting with new clients and bidding at an auction, toinspecting properties andnegotiating with sellers agents, as well as a whole lot of research – the work is endless for a buyers agent.

Universal Buyers Agent director Darren Piper says his commitment to helping clients get closer to their property purchasing dream, means he rarely works a 9-5 day in the office.

Here’s what a typical day in the life of a buyers agent looks like for Darren:

7.30am – Check emails and set up for a busy day ahead

9am – Follow-up with potential clients and prospective buyers

11am – Organise meetings and inspections for the rest of the week

Noon – Attend a private inspection for two properties for a client

3pm – Contact 60 agents by phone seeking stick

4.30pm – Inspect four properties for a local owner-occupier

6pm – Complete client reports and weekly updates

7pm – Head home and rest before another productive day!

To learn more about the benefits of a buyers agent, visit www.universalbuyersagents.com.au.

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About Universal Buyers Agents

Australian-owned and operated, Universal Buyers Agents is made up of an experienced and passionate team driven to ensure your future is secured financially by investing in blue chip localities. To us, it’s not about the transaction today but rather, the ten into the future.

The Universal brand was born as a result of increasing market demand for a service that was not only comprehensive but served the buyer, not the seller. In today’s fast paced industry and market competitiveness, making a mistake has increased tenfold, so don’t make one. Working with Universal Buyers Agents takes the pressure, risk, and stress off the purchase so we can focus on uncovering and buying the right property, at the right price, every time. Whether you’re looking for your first property, a development opportunity, commercial or industrial sites, land and house packages, or investments, we can advise, support, manage, or consult on a level that suits or is required.

 

To ensure you buy the right property at the right price give our team a call now on 1300 117 561

Real estate secret: Engaging a buyer’s agent

Despite interest rates tipped to rise and first homebuyer grants about to fall, the local real estate market is booming.

To ensure you buy the right property at the right price give our team a call now on 1300 117 561

Everyone seems to be full of property investment advice but what is real and what are the myths?

PROPERTY investment, it’s something many people do, but not everyone really understands.

Plenty of new and seasoned investors are happy to offer their unsolicited advise if you mention you are thinking of getting into the market, but how much of it should you listen to?

Buyers agent Darren Piper of Universal Buyers Agents reckons there are four big property investment myths.

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There’s only one Australian property market.

“This could not be further from the truth,’’ Mr Piper said.

He said each area is divided into several suburbs and each of those operated with different supply and demand drivers.

“In fact, within each suburb of a city, there are usually a couple of districts with different factors that may impact the value of a property,’’ he said.

An obvious exampled was a house with city views would be worth more than another similar house a street away but without the views.

House values double every couple of years.

“I’ve heard people say on more than one occasion that properties double in value every seven to ten years. This is simply not true,’’ Mr Piper said.

While it has happened in some hot markets in Sydney and even Melbourne in the past decade it is by no means across the board in other capital cities.

“You can’t generalise the property market and if you take a closer look, you will find that some properties in Sydney and Melbourne have not performed as well,’’ Mr Piper said.

“You can’t buy just any property and expect the value to skyrocket in a few years. Do your research and find a property that has potential to increase in value.’’

The best time to buy is at the bottom of the property cycle

Mr Piper said the property market moved in a seven to ten-year cycles and investors often spent a considerable amount of time working out the best time to buy.

“It may make sense to purchase a property at the bottom of the cycle when prices are low, but it is not guaranteed to really make a difference and it isn’t the only factor to think about when investing,’’ Mr Piper said.

“You may score a bargain, but if the cycle stays sluggish for longer than expected, you may also find yourself waiting years for the market to pick up again.’’

You should buy a house, not an apartment

This is a classic fallacy that has been floating around the property industry for a while now,’’ Mr Piper said.

He said houses generally cost more than apartments but it was a common misconception that the majority of a property’s value was in the land.
“It has been proven in bustling city suburbs that apartments can rake in just as much profit as the humble home,’’ he said.

To ensure you buy the right property at the right price give our team a call now on 1300 117 561