Posts Tagged ‘Monika Bonet’

One of the most common questions asked when you first become a landlord is – “Is it worth taking out Residential Building Insurance as well as well as taking out Landlord Insurance?”

See this Youtube Video and then ….read about Landlord Insurance incidents by Amber Cauchi, Claims Officer for Terri Scheer Insurance

Amber Cauchi, Claims Officer for Terri Scheer Insurance strongly believes so; “after seeing the many claims for catastrophic damage that could never been foreseen – it seems that Building Insurance is worth its weight in gold for Landlords”.

 Taking out Building Insurance on your investment property will ensure that you can sleep at night with peace of mind that your investment property Is properly insured in the event of major damage.

“One example Is a recent house fire which started in an air conditioner situated on the roof. What seemed initially as a minor fire localised to the air condition unit itself, soon spread rapidly into the roofing cavity. This caused damage to the roof tiles, eaves, structural beams, ceilings and even structural walls throughout the property”.

Ms Cauchi went on to say “assessors, structural engineers and builders were all appointed to assess the damage and costs incurred. The damage requiring repairs included structural damage and cracked internal brickwork – due to the extreme heat, as well as smoke damaged walls, kitchen cabinets and appliances. The costs soon grew, far exceeding initial estimates”.

“With just under $200,000 building damage, $20,000 contents damage and $10,000 loss of rent, the owners converted what could have been a major economic loss, into one which was covered entirely by insurance. Peace of mind in such a stressful and emotional time after such a huge loss could be considered priceless”.

This article was brought to you by Terri Scheer Insurance.

For all of your Glenelg Property Management needs Call Monika Bonet at Raine & Horne Glenelg on 8376 8844 – We’ll Look After You.

When searching for an investment property, don’t fall into the trap of asking “Would I live there?”

Watch this Youtube Video about which picking suburb you should buy in…

Don’t be like most Property Investors… often your tastes in a property can be very different from a tenant’s needs and likes within a particular area.

SOME KEY FACTORS THAT YOU SHOULD FOCUS ON WHEN CONSIDERING THE PURCHASE OF AN INVESTMENT PROPERTY ARE:

• Are the rents affordable within the average to medium price range?
• Has the area shown a solid history of steady rental demand from nearby industry, educational, medical or commercial office workers?
• Does the area provide good access to shops, transport, schools, churches, sporting and other facilities in keeping with the profile of the local population?

If you can answer yes to the above then you are on course to making a sound investment decision.

 This article was brought to you by Raine & Horne Glenelg your Glenelg Real Estate and Glenelg Property Management Experts.

Australia’s rapidly growing population and overseas migration is set to underpin the Australian property market in 2010 according to Angus Raine, CEO, Raine & Horne.

“Building approvals levels are currently running around 145,000 per year according to industry averages, which is well short of the new homes required to meet our rapidly growing population.” According to the Australian Bureau of Statistics (ABS), as at 30 June 2009, Australia’s population had grown to 21,875,000, an increase of 443,000 people over the previous year.

Watch this Youtube Video about Australia’s population growth…

“Other factors that will continue to help Australian property avoid the pitfalls faced in the US and the UK include our preference for smaller household sizes and larger homes,” says Mr Raine.

According to figures from the ABS, the typical size of a new Australian home is 215 square metres, up 10 per cent on the last decade. New homes in other parts of the world are far smaller, with Denmark the biggest in Europe at 137 square metres and Britain the smallest at 76 square metres.

Higher lending standards and Australia’s relatively low mortgage interest rates are also set to push up Australian property prices – a recent statement from CommSec, says home owners should expect prices to rise by eight to 10 per cent over 2010.

“It’s fair to expect more interest rate hikes in 2010 on the back of our robust economy. However higher rates will be offset by population growth and the fact there is not enough homes being built to meet demand,” says Mr Raine. “This is set to push up rents and home prices, which is an attractive combination for investors.”

To support Mr Raine’s optimism for Australian property, a Mortgage Choice survey found that more than one third of Australians plan to buy a property in the next two years despite concerns over higher living costs and rising interest rates.

Shane, Oliver, Head of Investment Strategy and Chief Economist, AMP Capital Investors says more increases in Australian interest rates are likely in the year ahead as the RBA seeks to move rates towards normal levels. The normal level is now judged, to be around 5%.

“However, the process of tightening is likely to remain gradual thanks to falling underlying inflation and lingering uncertainties about growth. The cash rate is unlikely to reach 5% until around the end of 2010,” explains Dr Oliver.

The other gorilla in the room for property growth is jobs. However the ANZ job advertisement series rose 5.2 per cent in November compared to the previous month.

Mr Raine sums up, “If employers are able to hire full time staff they will and I know the Raine & Horne group is on the lookout for the best property talent available to meet the expected bounce in the market in 2010.

“The fact full-time employment is back in fashion is a great confidence booster for the economy and Australian real estate for 2010.”

This article is brought to you by Monika Bonet. Monika is the Principal of Raine & Horne Glenelg, your Glenelg Real Estate Agent and Glenelg Property Manager.

House prices are rising rapidly in line with the strength of the South Australian economy

Somerton Park records a massive 35.64 per cent growth last year

Adelaide home price median rises to $382,000. Adelaide house prices have risen by more than 6 per cent in the past year and further strong growth is forecast for the year ahead.

Official Valuer-General figures, released, reveal the metropolitan median price rose 6.25 per cent to $382,500 in the December quarter 2009, compared to the same period in 2008.

Across the state the improvement was almost as dramatic, with a 5.77 per cent increase to $352,000. A year ago, the annual increases were only 1.4 per cent for the Adelaide metropolitan area and 4 per cent for the state as a whole.

The latest results impressed Real Estate Institute of SA, who said the figures were particularly promising given the Federal Government’s First Home Owners Boost was halved during the December quarter.

A statement released by REISA said; “this clearly demonstrates the faith people have in investing in bricks and mortar, and the reliability of the property market in Adelaide and South Australia,” he said.

“It gives us plenty of confidence that the property market will continue to grow now the boost has finished and we have reverted back to the existing $11,000 grants for established homes.

“People will still continue to enter the property market because they know it is a good investment, not because they get a one-off cash bonus.”

Somerton Park topped the list with massive growth of 35.64 per cent on last year.

The list was based on suburbs with 10 or more sales in the quarter.

It was followed by Broadview (28.42 per cent) and Willaston (22.37 per cent).

Western suburbs Clarence Gardens and Dover Gardens, and Burton in Adelaide’s north, also made the list, increasing by 22.21 per cent, 21.93 per cent and 21.57 per cent respectively.

Describing Somerton Park as “ideal for families”, Raine & Horne Glenelg Principal said Someton Park had benefited from the price rises of neighbouring Glenelg.

“I think people have realised that Somerton Park has been a bit of a hidden secret for a little while,” she said.

“A lot of people try to go to Glenelg but because Glenelg has gone up so much people have started to look further a field, which has resulted in price rises hitting the adjacent beachside suburbs.

“The beaches and the Somerton Life Saving Cluyb cafe on the beach, makes sunset there absolutely gorgeous, and because Somerton beach is not as well-known as Glenelg it’s less busy.”

Monika Bonet is the Principal of Raine & Horne Glenelg, your Glenelg Real Estate Agent and Glenelg Property Management expert.