regaining confidence in the market

For many, the 2010 / 2011 financial year has been a turbulent one for various reasons.

Natural disasters, political uncertainty and a volatile economy have all contributed to the current trends we are seeing in the property market and consumer sentiment in general.

During times of uncertainty the psyche in people changes; some people feel wary about making changes in their life such as buying or selling property, while others reassess their lives and take a ‘live in the moment’ approach.

In the WA market, uncertainty and subsequent action deferral is more accentuated because Perth enjoyed a major and prolonged boost in the market ahead of other Australian markets throughout 2005 and 2006. However, this was followed by a dramatic slide in property values.

Nevertheless, we are now aligned with other capital city markets and analysis of historic trends suggests we are approaching the bottom of the curve and can look forward to a more stable and positive market. It’s important that we look beyond the immediate moment and see the medium term potential of the market.

Perth has already seen some correction in the market; and although it will be a slow and steady return to a more energised market it’s a positive sign for WA and feelings of uncertainty regarding property will begin to subside as people gain confidence in the market fundamentals.

While we endure this sluggish market, it’s important to have confidence that it will find its own equilibrium consistent with the demand and supply. It is also a time to seriously consider opportunities provided by the market now and take advantage of strategic buying ahead of the crowd.

Realmark featured in BRW

Wow! Realmark featured in BRW - check it out on our website (http://t.co/yvdZRQn) or pick it up at your local newsagent (p.44).

IN Food & Wine

Indulge yourself at the Good Food & Wine show and take some time to enjoy some of the finer things in life.

Perth’s obsession with food and wine is no secret. Cookbooks, gourmet stores, smart restaurants, wineries, fresh produce and a passion for celebrity chefs are part of our regular menu.

What better place to indulge and celebrate all these things in one place than at this year’s Good Food & Wine Show in July. Last year the show attracted more than 20,000 visitors and this year the show turns five in WA.

It’s an epicurean’s delight and the chance to explore, indulge and sample food, acclaimed local produce, enticing chocolates, luscious cheeses and of course award-winning Western Australian wines. All up, there will be more than 150 exhibitors with delicious products to try and learn about.

Highlights of the show include the Fisher & Paykel Celebrity Theatre where George Calombaris, Gary Mehigan, Matt Moran, Manu Fieldel and Anna Gare will be cooking up a storm. A show favourite, it’s your chance to watch leading chefs in their element.

“This is a really good opportunity to see your favourite Australian chefs live and them actually cooking,” says exhibition manager Claire Back. “People like Gary and George have been working with us since before MasterChef. For these guys it’s a fun chance to get away from TV and their restaurants for a while.”

Learn the art of wine tasting and food matching in the Riedel Wine Theatre or slice up some cheese know-how with the Cheese Matters Discovery Class, a 45-minute tutored tasting which celebrates regional producers, explores premium cheese samples and savours expertly matched wine.

The show has been hugely popular with families and Claire says while it’s an opportunity for the curious to explore, for those wanting to go deeper there are also specialist classes.

“We have some visitors who go to every class and take notes and want to meet all the stall holders, taste and talk about their products. Then there are other people who want a fun day out and might learn how to cook a piece of meat on the barbecue.”

The much-loved celebrity chef book signings continue this year as well.

“As people are becoming more time poor they still want to be able to entertain at home or for those people who come home after work and still want to be able to cook well, the show offers plenty of great ideas for both.

“This explosion of interest in food has made people more adventurous in their home cooking too. For everyday cooks through to people who want to do something just a little differently, this is an opportunity to pick up one or two new tricks.”

The Good Food & Wine Show is on at the Perth Convention and Exhibition Centre from July 15 – 17. Check out www.goodfoodshow.com.au for more information. Tickets from the website, Ticketek or at the door. Some classes cost extra on top of general show entry.

The Backyard Dream

The backyard dream represents a lifestyle that many Australians continue to desire; but is it what we need or is it simply reflective of an earlier era?

Perth is the most isolated city in the world where land is aplenty, but services such as water and energy supply are not. Perth is also an elongated metropolis growing along four lengthy urban corridors and transport spines, which in turn accentuates the competition for near and inner city accommodation.

As Perth develops, it increasingly offers two distinct lifestyle choices; high density apartment living or a family home with a backyard in the suburbs. The latter comes with a price tag attached which continues to climb.

We are already seeing many of the larger lots in Perth succumb to developers plans with lots becoming significantly smaller in order to fit more in and offer the ‘dream’ to more people. There is also pressure from Government to convert backyards with urban in-fill development.

It is predicted that by 2030 Perth will have a population of 3.5 million, which will see some people from the next generation wanting to buy homes and finding their traditional home expectation financially and physically out of reach.

That doesn’t mean the dream of owning a family home complete with a backyard and picket fence will disappear, as the desire and expectations will continue. What it does mean however, is that the backyard dream is becoming an increasingly challenged dream to achieve. With this in mind, perhaps it’s time for us to accept that alternative living solutions need to be offered to change the way society views property.

People need to wake up to the realisation that obtaining the dream family home is only one part of the mission. The ongoing rates, maintenance and household costs tend to be the forgotten factors. Not to mention the questions of affordability and the increasingly difficult to finance property purchases. We need to get realistic about housing sustainability and let go of the idealistic lifestyle choice.

As real estate professionals we can constructively contribute by empowering our clients by offering them all the options for their future home. Once buyers know what options are available to them they can then make a well informed decision which may better suit their complete lifestyle and their finances.

Realmark raises just over $3,000 for Breast Cancer

As a company which is predominantly made up of females, it was important to me that Realmark supported the Mother’s Day Classic fun run and walk for breast cancer.

At Realmark we have about 140 staff. Just less than 100 of those are women.

It’s safe to say that breast cancer affects everyone in some way; mothers, daughters, sisters, nieces and friends. It has no preference for just one ‘type’ of woman.

The Mother’s Day Classic fun run and walk event is not only a great opportunity to recognise Mother’s Day but also a fantastic way for people to give something back to the community and show support to those who have gone through, or are going through breast cancer.

All proceeds from the Mother’s Day Classic are donated to the National Breast Cancer Foundation, which has raised $7.8 million dollars since it began in 1998. We encouraged all family and friends of staff at Realmark to join us in taking part, whether it was in walking or through donations.

Thank you to everyone who was there on the day (39 of Realmark staff, family & friends) and to all who made donations. Without these generous donations we would have not achieved the awesome fundraising result of just over $3,000 - THANK YOU! It was great to see people coming together to make a difference.

IN our city

Perth is still one of the most liveable cities in the world and we’d like to keep it that way. Meet a group who want to make sure we’re prepared.

We may be one of the most isolated cities on the planet but there’s much to celebrate. While Perth can only get bigger, we must also make sure our city grows with a clear and united vision to make the most of our natural and human resources and our geographic location.

Committee for Perth argues creating the Perth of the future should be done in a smart, planned and co-ordinated way. We need strong transport, housing availability and affordability, a thriving cultural and arts scene and educated citizens. That way we will reap the benefits of the dynamism of a bigger city and continue to be residents of a city we love.

Started in 2006, Committee for Perth is an independently-funded, apolitical think tank of business leaders which advocates preserving the best things about Perth and encouraging smart planning for the challenges of tomorrow.

The group’s CEO, Marion Fulker, says Perth still ranks highly on the Economist Intelligence Unit’s Liveability Index and they want to make sure it retains that mantle.

“We have to have a compelling reason for our citizens to stay and an international awareness about coming here in the first place,” she says. “We have a long-term interest in Perth and want to offer a collective vision for it. We want the world to know we are here and who we are. “Ultimately, we want a city which welcomes a variety of ages, genders and ethnicities to make a place that we all want to live in and not have people leave screaming, saying ‘I don’t think I’ll be back’.”

Originally from Sydney, Marion settled in Perth more than two decades ago. She has become a total convert to our lifestyle and sees so much of our future potential.

“Perth has a reputation for some things but many of them are not differentiated from other places. What is it about Perth when you are making a decision to come here that would compel you? That’s why we were founded.

“We all know it’s a great place to raise a family but there’s also economic opportunity and other things which make it liveable and vibrant plus globally competitive.”

While the group works with government and business, it also does intensive research on subjects benefiting the future of city planning like the possibility of a light rail system, local government reform, the Perth waterfront development (an artist’s impression is pictured on these pages) and a world centre for indigenous art and culture.

For example, Marion says many expanding modern cities have realised light rail is essential to smart rapid mass transport and have either implemented it or upgraded existing services.

Given the population of Perth is now around 1.66 million and the public transit infrastructure that was developed when the population was at 1.2 million is already straining under the weight, what will happen in 2050 when it’s anticipated the population will hit 3.5 million?

Marion welcomes the announcement of a light rail system being in the planning stages and says the already overcrowded railway lines are testament that West Australians will use efficient public transport.

“But success will quickly turn to failure if our public transit infrastructure fails to keep pace with growth and it’s evident the Joondalup line is already falling victim to a lack of continuous investment and improvement, less than 20 years after opening.

“The overcrowding of commuter trains and park and ride facilities that are full by 7.30am are all signs that public transit does not start and end with the construction of train lines. As a city we need to be on a path of continuous investment and improvement to keep pace with growth and not wait until our existing systems can no longer cope with demand.”

A Right Season to Sell – Is it a Fact or an Excuse?

Real estate agents have long debated and even advocated that there is a ‘right’ season to sell property, with some arguing that summer time is simply too busy and others arguing that homes don’t look their best in the midst of winter or buyers are distracted by the football season. While many WA agents advise potential sellers to defer selling until the Spring, there will always be people ready to act.

Seasons will influence those who are just window shopping at a property with no serious intention of buying, but there are always people out there who need to buy a new home regardless of the season. It’s these people we need to focus on.

While Perth has recently enjoyed some enjoyed some cooler temperatures, it has made no difference to properties the company has listed and sold. It is not about the weather it is about the craft marketing and selling that engages buyers regardless of the season.

It’s all about going into sell a home with the right strategy, the right focus and the right attitude. If someone believes it’s not the right season to sell then things are automatically off to a weak start.

WA real estate agents need to remember regardless of whether it’s the mythical ‘ideal season’ to sell or not, there will always be people ready to buy property and we just need to connect with them for our sellers and get the job done.