HARRINGTONS REALTY NEWS – 01/06/2020

LATEST SURVEY RESULTS ARE IN …

The Property Investors Council of Australia has released the results of its latest survey – the takeway is the investor are generally bullish/ confidence that these are very good times to be investing in property.

See below:
More than 70 per cent of property investors say it is a good time to buy residential property with the majority also believing it is business as usual, according to a joint industry survey.
The Property Investment Professionals of Australia (PIPA) and the Property Investors Council of Australia (PICA) survey in mid-May found that 72 per cent of investors were confident about the market’s short-term prospects – down only 10 percentage points from an investor sentiment survey conducted in September last year. The survey results, which attracted 1877 responses from across the nation, also found that the coronavirus crisis had not changed the investment intentions of 80 per cent of investors over the next six or 12 months. PIPA Chairman Peter Koulizos said the survey showed that investors were overwhelmingly optimistic about the property market over the next year.
“Nearly 60 per cent of respondents indicated that the pandemic had not made them change their investment plans over the next six months, with a further 18 per cent saying the crisis had actually made it more likely they would purchase a property over that time frame,” Mr Koulizos said.
“The survey results also showed about 30 per cent of investors were more likely to buy a property in the next six to 12 months because of the pandemic. “It’s clear that record low interest rates as well as the resilient nature of property during turbulent times are inspiring investors to continue with their plans.”
While the survey found that 36 per cent of investors had experienced a loss of income, outside of rent, during the pandemic, the vast majority, at 91 per cent, had not applied to pause their mortgage repayments.
PICA Chairman Ben Kingsley said only a small percentage of respondents, or five per cent, indicated the crisis had made it more likely that they would sell a property over the next six to 12 months. “What’s more telling is that more than 30 per cent said they were less likely to sell over the same period because of the pandemic, with 63 per cent indicating no change at all to their plans,” Mr Kingsley said.
“Most investors also indicated that they had the financial buffers to see them through the current economic uncertainty. “The survey results definitively show optimism amongst investors as well as a business as usual attitude.”

WANTED – LAND IN CANBERRA FOR 20 NDIS PARTICIPANTS

We have an NDIS Provider who has a very specific need for homes for 20 bariatric patients in Canberra.

We are looking for either 1 large site or 4-5 home sites near medical, shopping, transport etc.
These houses will need to be built to specific SDA standards. We can guide you through this if you want to build and rent them for your own portfolio.
Approximate income of $115k per annum per home (based on 4 bedrooms).
Feel free to message me if you have any interest tracie@harringtonsrealty.com.au
Thanks in advance! Tracie

COVID 19 RESTRICTIONS EASE FROM 10-20 

The number of people allowed at auctions and open-for-inspections in Queensland will be increased to 20, with social-distancing restrictions to be eased earlier than expected.

Premier Annastacia  Palaszczuk  announced on Sunday that restrictions allowing only 10 people to gather would be changed to 20 from June 1, after no new cases of COVID-19 were recorded in Queensland overnight – leaving only five active cases across the state. The changes will come into effect from noon on Monday,  11 days earlier than the original deadline of June 12.

Travel bans within the state will also be lifted, however the Queensland borders will remain closed.

“I know that means a lot to families out there, a lot of them haven’t seen each other,” Ms Palaszczuk said. “They’re now able to see each other and it’s because of the tremendous work that Queensland has done and our great health response.”

Under the updated restrictions, 20 people can be present at public auctions and open homes, with more people allowed if there is a COVIDSafe plan approved by health authorities. But  the borders remain closed to interstate buyers wanting to inspect property.