Ray White Blog

Proud Sponsors of Coogee Beach Volleyball Team

By Global Administrator 15/02/2012

We are the proud sponsors of Coogee Beach Volleyball Association, with 100 members from all around the world.

This is another great opportunity for Ray White Maroubra | South Coogee | Mascot | Rosebery & Commercial South Sydney to be involved with a local club and help promote the sport and healthy living.
They are based at the beautiful Coogee Beach, with council authorisation to set up a maximum of 4 portable nets.

If you would like to join in on the fun and meet the team you can find the vibrant team every weekend at the northern part of Coogee Beach and during daylight savings every weekday after 5.00pm.

We wish them all the success in this year’s tournament.

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RBA Interest Rates on Hold

By Global Administrator 08/02/2012

In its first meeting of the year, the Reserve Bank has kept interest rates on hold today.

Many economists had bet the Reserve Bank would cut rates by 0.25 per cent due to worries about the economic situation in Europe. However, rates will remain at 4.25 per cent.

"Today's decision leaves the gate open for the Reserve Bank to cut rates should the situation in Europe sour," says Domain property expert Carolyn Boyd. The move follows back-to-back rate cuts in November and December last year.

Each 0.25 per cent drop in interest rates slices about $60 off the monthly interest cost of an average Australian mortgage.
 
Boyd says although rates have remained on hold today, mortgage holders might still be able to win themselves a rate cut by shopping around for a better deal from lenders. Some lenders are offering more than 0.9 per cent off their standard variable rate for borrowers who ask.

"Keep in mind what it might cost you to switch though," Boyd says. "While borrowers with new loans may no longer be liable for early exit fees (also called delayed establishment fees), people who took out their loan before July 1 last year could still be charged an exit fee by their lender. The ban on exit fees only applies to loans taken out since July 1, 2011. There are also other costs associated with refinancing such as government charges to discharge and register a mortgage."

However, securing a cheaper rate cut from another institution may mean you can recoup the amount you have to spend to refinance quite quickly, or you may be able to use the cheaper offer to negotiate a better deal with your existing lender.

Source: Domain.com.au

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Semi's an Original Winner

By Global Administrator 02/02/2012

Imagine winning the lottery during the Great Depression. What would you do? Elizabeth Stirton bought herself a boat ride to the Maroubra Cup and a semi in Maroubra. It was 1934.

Eighty-eight years later, the property is changing hands. One of Elizabeth's seven children, Betty lived in the property until her death at 84 last year. Betty's brother Mark said while it was sad, the house should belong to a young family again.

"I'd like to see a nice family or a couple with children move in," he said. "It's got ready access to schools, and to the Junction."

When Mrs Sturton passed away many of her neighbours attended her funeral. "She was very well liked in the street," Mr Stirton said. It's a sign of the close-knit community in Wise Street, which is just a minute's walk from Maroubra Junction.

Mr Stirton said all of his siblings loved the Maroubra area, and lived there for a long time. In fact, Mr Stirton used to live across the street from his childhood home. "All of us just got used to living in this area. I virtually lived at the surf," he said.

After graduating from Maroubra Junction School, three of the Stirton children made names for themselves in the police force. Betty Stirton was the first female to serve in the Commonwealth Police Force, and rose through the ranks to head up the crime squad.

The two-bedroom home is in original condition, complete with a floor-to-ceiling rainforest artwork in the living room. And while renovation is in order, buyers will love the immaculate garden, where years of care have produced an enviable rose garden.

The property will be auctioned on Wednesday, February 22, at 6.30pm.
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Prices Slowly Emerging

By Global Administrator 27/01/2012

AFTER almost two years of gloom, house prices in Sydney and Melbourne are showing some signs of improvement and real estate agents hope lower interest rates will accelerate the trend.
 

Median house prices were up marginally across the country in the December quarter for the first time since late 2010, according to data from Australian Property Monitors.
 
While the figures indicate tentative signs of a recovery, it is too early to tell if the nation's housing downturn has finally been halted.
 

In the three months to December, prices remained stable or rose in Sydney and Melbourne, with the latter's prices up 1.1 per cent on the previous quarter, APM said.
 

Values in other capital cities, apart from Adelaide and Hobart, fell over the same period.
 
"The small growth in the national median house prices was due to an increase in buyer activity in the bottom end of the market in Sydney and, by contrast, the top end of the market in Melbourne," APM's senior economist, Dr Andrew Wilson, said.
 

''[This year] will provide mixed outcomes for housing markets with some capital cities set to revive while others will remain flat."
 

Property listings were down last year but consumers were more confident following the rate cuts, the chief executive of Stockdale & Leggo, Peter Thomas, said. The strong prospect of further rate cuts would help vendors, he said.
 

The year-end boost followed a 12-month rout where prices declined year-on-year in all of Australia's capitals, with Brisbane's weary home owners suffering the biggest fall of 7.5 per cent, APM's figures show.
 

Even in Sydney, the country's most resilient market, prices fell over the year by 1.3 per cent, while the median price dropped 3.1 per cent in Melbourne, 3.5 per cent in Canberra and 5.2 per cent in Perth to December. But home owners were more likely to see a levelling out of prices or even small gains this year, due to the rate cuts, HSBC's chief economist, Paul Bloxham, said
 

Source Sydney Morning Herald

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Tipped to Swing in 2012

By Global Administrator 03/01/2012

The property market has been tipped for an upswing in the New Year on the back of stronger domestic economic performance.
Speaking to Real Estate Business, Australian Property Monitors senior economist Andrew Wilson said the property market should undergo a "modest recovery" in 2012, resulting in greater lending and borrowing activity.
"Our strong economy will help our property market enter a modest recovery," he said.
"OECD is reflecting 4 per cent growth over the year, which is above trend and very good especially when compared to other countries around the globe."
On the back of this strong growth, Mr Wilson said he expects Australians to start spending again.
"They will definitely think about spending. They have been saving like crazy for the past 18 months and they have, in some instances, forgotten how to spend. But, I think confidence will return and, as it does, so will spending habits."
"Moreover, the skills shortage in key areas will drive immigration, which will ultimately drive new buyers into the market – helping 2012 to become the year of recovery.
Source: Real Estate Business
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