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Jason Guildea

M: 0411 859 505
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In this issue:
Feature Property
Coming Soon...
Rentals
Manly Vibe
How long do we live in our homes?
Fact sheets:
Buying a Property
Buying at Auction
Selling a Property
Manly Vibe

The hugely popular annual Manly Arts, Manly Jazz and Food, Wine and Sustainability Festival are included as key events under the Manly Vibe annual program. Manly Vibe also brings together contemporary artists and performances from the Christmas Choral Concert, Sydney Chamber Music Festival, Bike Live Festival and many more family events celebrating Manly's culture and great vibe of music, arts and enjoyment.

Plan to join us for the next Manly Vibe event...

World Food Markets 2014

Manly Council’s popular World Food Markets returns this summer to the grassed forecourt outside Manly Council Chambers (opposite Manly Wharf), Friday nights from 5pm (Starting 10 January, through to 28 March).
Sit back and relax with friends and family, enjoy excellent food and great music in a beautiful location just across from historic Manly Wharf.

Taste of Manly - Food, Wine & Sustainability Festival 2014

Every year up to 15,000 food and wine enthusiasts from Sydney and NSW, interstate and overseas flock to Manly each day to experience this Food & Wine Festival. This year the event will take place on the weekend of the 31st May and 1st June 2014.

Dogs Day Out

The annual Dogs Day Out is a fun filled comunity event that entertains dog owners and their furry friends. Over the last three year the event was set at beautiful Clontarf Reserve with a large audience attendance.

Bike Life Festival

Come and enjoy a week full of bike activities. We bring you some fun rides, bike maintenance and mindful bike education. The event will be held each year in September, please check our website closer to the event for further details.

Manly Arts

Since 1994 the Manly Arts Festival has grown into one of the State’s leading community-based arts festivals. Each year, Manly’s arts and cultural organisations and Manly Council, with the support of local businesses, join forces to develop a creative and entertaining program of events for residents and visitors. The event will be held each year in September, please check our website closer to the event for further details.

Manly Jazz

Great National and International Artists in beautiful setting are presented to you at the Manly Jazz. As every year the event will be held over the October long weekend. Enjoy the beautiful Manly Beach setting with your friends and family.



How long do we live in our homes?

Seems like here in Australia, we like to hopscotch around a bit when it comes to where we live.

Our latest data says only 16% of Australians overall intend on staying in their current suburb for the rest of their lives, while an emphatic 36% said they’d be looking elsewhere at some point in time.......



Click here for more information
LATEST NEWS
Apartment glut threat to inner cities

Is this true for the Northern Beaches and Lower North Shore?

This is the headline from Saturday's Australian Financial Review, the article goes on state..

“New Inner-city apartments are flooding into the nation's capitals at up to three times the markets' ability to occupy them, prompting red-light warnings to investors. Hidden behind the national housing shortage which has forced house prices up by 10 per cent nationally is a glut of inner-city apartments which in some cities is already driving down rents. Even more supply is coming, with 41,400 high rise apartments approved last year, a 30 per cent rent increase on 2012”

My thoughts are this might be true for some parts of Sydney like Chatswood, Hurstville, Eastwood and the City, however there is still strong demand from young first time buyers downsizers and investors in our area. From 2007 until last year really there was minimal new development in the Manly area. Anything newly built in Manly is snapped up and a recent new development in Sydney Road Balgowlah sold prior to the building complexion. So I feel the combination of being close to shopping, cafes, easy public transport and the natural beauty of our area will keep interest from buyers, investors and tenants strong for the foreseeable future locally. Also there is only a limited amount of space for new developments which will keep demand strong.



Sydney Morning Herald

Upgraders keep Sydney property market buoyant

Smh,
Stephen Nicholls, Lucy Macken
Peter Patonai and Olivia Yinzhu at their Annandale townhouse in Sydney.Success: Olivia Yinzhu and Peter Patonai paid $1.53 million in Abbotsford. Photo: Janie Barrett

Both cashed-up Chinese and Australian investors have been blamed for pushing up property prices - but experts say it is upgraders who are responsible.

Certainly at the middle sector of the market: McGrath Estate Agents said most of the strength last weekend was in the $750,000 to $1.5 million price range, with 94 per cent of the 50 properties selling at auction.

'They're the upgraders,' McGrath chief executive John McGrath said. Some are the first-home buyers encouraged into the market by government grants that peaked at $14,000 five years ago. With stamp duty discounts, they could save almost $32,000. Many of those first-timers now have children, have outgrown their properties and 'they're now moving up to the next level'.

Today the only first-home buyer incentives are for new homes: a $15,000 grant for property priced up to $650,000, plus stamp duty discounts.

Shane Oliver, chief economist at AMP Capital, said it was Australian demand for our own real estate that was driving the property market.

'The reality is home finance in Australia is up substantially,' Dr Oliver said. 'That's not money being lent to the Chinese, that's money being lent to Australians. The reason Australian property is so expensive is because we don't supply enough of the stuff.'

Examples of the upgrader strength abound, particularly in the inner west.

Peter Patonai paid $1.53 million - $350,000 over reserve - last Saturday for a three-bedroom fibro house at 13 Fitzroy Street, Abbotsford. He and his fiance, Olivia Yinzhu, started looking seriously for a family home last October. 'We came back from an overseas holiday to find that the market had really started to move,' Mr Patonai said.

They had hoped to get the property for less, but there were several other bidders just as keen. 'We plan to knock down and rebuild,' he said.

McGrath agent Shad Hassen said properties such as this were benefiting from the strong market conditions. 'I'm definitely seeing a lot of upgraders in my area,' Mr Hassen said. 'That's creating a fair bit of competition.'

Two auctions held in the same street in St Peters last Saturday showed upgraders have deeper pockets than investors for the right home. First, a three-level, three-bedroom home at 6 Goodsell Street sold for $855,000. It was still well above the reserve, but families had been turned off by the steep stairs and it went to an investor.

Soon after, 38 Goodsell Street, despite having just two bedrooms, was snapped for $957,000, more than $115,000 above reserve, by upgraders from Ashfield. Richardson and Wrench Marrickville principal Aris Dendrinos said 250 groups had inspected the property and there were 22 registered bidders. 'This was hot from day one,' he said. 'When you get this much competition for a property the auction gains a life of its own.'

Belle Property Newtown agent Prue Holcombe sold a four-bedroom home at 51 Neville Street, Marrickville for $1.341 million on February 22. 'The reserve was $1.2 million,' she said. 'It was a really good family home.

'I'm finding that the bigger homes are now far easier to sell because more families want to stay in the area.'

The upgrader buyer, who did not want to be identified, said she and her partner had been looking since auctions started last month.

'We realised the market was becoming stronger … We didn't want to miss out,' she said.

The $5 million significant investor visa has been in the media spotlight lately amid claims that it allows foreigners to push up property prices, but to date only 120 significant investors have been approved and they typically target prestige real estate.

Significant investor visa –  how it works 

The visa was announced in November 2012 to attract prominent business people and investors to Australia and increase our economic growth and innovation. 

It entitles residence to applicants who invest at least $5 million in complying investments, such as Commonwealth, state or territory government bonds, ASIC-regulated managed funds with a mandate for investing in Australia.  

The visa can be extended to permanent residency if the investment is maintained for four years.

A property purchase does not qualify as the investment, but temporary residents will often  buy their own home here.

To date, the Department of Immigration has approved 120 applications, more than 100 of them in the past three months. Of those applications, 91 per cent have been lodged by Chinese nationals.

A review of the visa program was announced last week by the assistant Minister for Immigration and Border Protection, Senator Michaelia Cash, to allow applicants faster processing and more flexibility and investment choices.



Feature Property
 
6/3 Fairlight Crescent FAIRLIGHT For Sale $595,000
The Perfect Position - Fairlight Lodge
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This sunny top floor apartment is perched in a prime beach side location on the Manly to Spit walk right in front of stunning Fairlight Beach and harbour swimming pool. Situated at the back of the block towards the street in the North / East corner. It is one of only 8 X 1 bedroom units in the block in one of the districts most desirable locations.
MORE INFORMATION
 
25 Waterview Street SEAFORTH Sat 5th April
A Delightful Surprise - Inspect this Wed at 12 noon.
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This fabulously presented home is sure to impress you. With beautifully polished timber floors, stylish fixtures and finishes and a massive 780m2 block backing onto Bligh Park Reserve. Offered for the first time offer in 42 years it has been recently renovated and features a versatile layout with ample space for both private relaxation and family togetherness.
MORE INFORMATION
Coming Soon...
 
90 Cutler Road CLONTARF Offers invited
Coming Soon - Auction March 2014
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This stunning home sits in a prime elevated position on Cutler Road and offers expansive 180 degree views of Middle Harbour. The never-to-be-built-out vista looks across to Chinaman's Beach and Balmoral, and encompasses all four headlands. Perfectly located across the road from the Manly to Spit walk and half way between Castle Rock and Clontarf Beaches, the home has been designed for entertaining.
MORE INFORMATION
Rentals
Unique Family Home in Blue Ribbon Location
2 Gertrude Street BALGOWLAH HEIGHTS
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Positioned in a quiet culdesac, stands this deceptively spacious family home. Set out over three levels with dual street access, the home enjoys year round sunshine & spectacular harbour views. Features include:

* Good sized bedrooms with built in robes, main with walk in robe
* Sparkling ensuites and main bathrooms
* Modern gas kitchen with dishwasher
* Office/study room as well as separate Media Room
* Spacious separate lounge & dining with Bose surround sound system
* Polished floorboards
* Level rear yard, bathed in sunshine
* Private front courtyard
* Separate self-contained studio with own private entrance
* Reverse cycle air-conditioning
* Gas heating
* Over sized lock up garage /storage with internal access
* Unfurnished or furnished / short or long term options

A short stroll to Balgowlah Heights Shopping Village, local schools, transport & just minutes to the delights of Manly or Harbour Beaches, this is effortless family living set in sophisticated style!
MORE INFORMATION
Stunning Waterfront Home - View Sat at 12.30pm
7 Laura Street SEAFORTH
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This beautiful 1980's, tri-level waterfront property features views of The Spit and Middle Harbour from every room.

The entry level boasts a modern, open plan kitchen with stainless steel appliances & walk in pantry, family room and terrace, separate dining, huge living room with built-in bar and guest WC.
MORE INFORMATION
Furnished Apartment in the best part of Manly- 6 month lease
1/3 Cove Ave MANLY
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What a find! Amazing holiday/short term apartment in the best part of Manly.

With it's unique combinations of comfortable & contemporary interior design this brand newly built modern duplex home offers extreme luxury living.
MORE INFORMATION
Beach Front Luxury - View Sat 10am
3/98 North Steyne MANLY
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This luxury 3 bedroom penthouse apartment is very unique offering stunning views over Manly Beach and out towards Shelly Beach. Features include open plan living & dining, spectacular kitchen with first class finishes and includes Gaggenau & Miele gourmet appliances.
MORE INFORMATION
Beautifully presented top floor two bedroom unit - furnished/unfurnished
4/1 Pitt Street BALGOWLAH
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This bright and sunny two bedroom apartment has all that you could ask for. Two double sized bedrooms with built-in robes, modern kitchen & bathroom including separate toilet, balcony with leafy outlook and a single car space.
MORE INFORMATION
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Seaforth
Manly
Mosman
Visit WWW.GUILDEA.COM.AU

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