RE/MAX Success

SEPTEMBER 2018



RE/MAX Success Throws Lifeline To Farmers


Real estate agents and landlords give generously to help with local farmers’ bills.

RE/MAX Success is helping make life a little easier for farmers across the Darling Downs and South West Queensland through teaming up with Lifeline Darling Downs.

Each real estate agent on the RE/MAX Success team is donating $50 for each of their sales contracts that settle during September, October and November; and the office also invited its Landlords to participate, giving $1 per month for each of their properties managed by RE/MAX Success during the 3 months of the appeal.

“Our Landlords have been very generous, with donations upped to $5, $10, $50 and even $100 per month,” said RE/MAX Success Broker/Owner, Katie Knight, “and through our Landlords, more than $900 was raised for September alone.”

Ms Knight announced that, in total, more than $2,100 had been raised just one month into the appeal.

“We partnered with Lifeline Darling Downs and South West QLD Ltd in order to support our local farmers who’ve not received significant rainfall for more than 7 years.

“With our assistance, and the help of others, Lifeline is able to provide financial support to severely drought affected farmers and their families.

“The dollars we are raising through September, October and November will help contribute to mortgages, livestock feed, crop management and other critical household expenses.

“Collectively, we’re excited to make a real difference to the lives of rural families in our community,” said Ms Knight.

If anyone in the community would also like to contribute to the collective RE/MAX Success donation to Lifeline Darling Downs, simply contact one of their helpful team on 4638 6100.


Toowoomba Lands Qantas Pilot Academy


Airline giant Qantas announced last week that Toowoomba’s Wellcamp Airport will be home to one of two regional multi-million dollar training facilities.

The $35 million academy and accommodation centre will include a new hangar, classroom facilities and student accommodation. The Wagner Corporation, who own the airport, are also assisting with the construction of the academy. Initial intake will include 100 pilots when it opens its doors in mid-2019, with enrolments open to both national and international students and capacity to train 250 pilots per year.

The centre’s site will create ongoing employment for approximately 160 people in training and support roles, while the construction itself will create more than 100 direct jobs and about 300 indirect jobs.

Qantas Group CEO Alan Joyce said “Toowoomba will be an amazing place to learn to fly. It’s home to Australia’s newest airport and offers over 300 days of Queensland sunshine each year and an environment that is textbook for pilot training.

“The region itself is a great place to live, work and study. We’ve already had many students express their interest in moving to Toowoomba for this pilot training.

“What we’re ultimately creating is a world-class pilot school for students from Australia and around the globe.”

State Development Minister, Cameron Dick said “When the facility is up and running it will be putting a quarter of a billion dollars into the local economy.” Whilst Toowoomba Mayor, Paul Antonio said the announcement was an “exciting moment for Toowoomba”.

Wellcamp Airport General Manager, Sara Hales says extra traffic from the Qantas Pilot Training Academy's 40 light aircraft won't impact commercial flights in and around the airport.

Toowoomba made the shortlist along with Mackay, Alice Springs, Bendigo, Busselton, Dubbo, Launceston, Tamworth and Wagga Wagga.

More than 18,000 people have so far registered their interest for enrolments online.


Herron Todd White Valuers - Month In Review


As published by Herron Todd White Valuers

Renovation has always been popular in the Toowoomba area, particularly in uncertain financial times when the market may feel safer to invest funds into their existing property rather than buying or building a new property. With the large supply of housing currently at hand and some cases of reduced prices, owner occupiers could consider buying into a newer property instead of renovating.

The majority of renovations will be found in close proximity to Toowoomba’s CBD in established areas such as South, East and North Toowoomba and Newtown. Further out from the CBD, Centenary Heights, Rangeville, Mount Lofty and Harristown have also seen many renovation projects. Typically, areas further from the CBD are characterised by modern housing. As a result, there is less demand for property to be renovated.

For house flippers, the right price must be paid for a property to then renovate without over capitalising. Care needs to be taken when considering the true costs and the time it takes to renovate. Newtown homes remain popular with first home buyers as they offer a blank canvas opportunity to add value. The market for these homes once renovated also remains active with the more affordable price point in Newtown compared to the eastern suburbs proving attractive to some buyers. Early 1900s colonial homes around East Toowoomba traditionally command premium prices. They are often located on larger lots in sought after locations and ideal for upgraders looking to add extensions with their renovations.

The opportunity to buy dwellings with renovation potential across Toowoomba is endless with buy in price points ranging from around $200,000 to $500,000, depending on the area.

An example follows of an original, two-bedroom timber cottage which sold in May for $205,000 in the inner suburb of Harristown. 4 Blackwood St, Harristown (Source: RPData).

Another example is an original, three-bedroom timber cottage on a double block which sold in May for $485,000 in East Toowoomba. 5 Alice St, East Toowoomba (Source: RPData).

Toowoomba’s heritage and colonial homes are synonymous with the Toowoomba property market Month in Review October 2018Residential 48 with heritage conservation guidelines sometimes limiting their removal for higher uses such as units and townhouses. This further entices owners to renovate existing colonial homes.

The current Toowoomba market in most cases does not reflect large gains on renovation projects. Some locations and property types may in fact show a loss, some may break even (dollar for dollar) and some may show small gains. There are many factors contributing to this such as holding costs, transfer costs, and labour costs. Overall, it can be difficult to find a renovation project in Toowoomba that would make a substantial gain, however the renovation market is highly active and can provide enhanced lifestyle and locational benefits beyond pure financial gains.


Rental Market Update


In September alone, RE/MAX Success serviced 1,549 unique tenant enquiries, conducted 323 property inspections, processed 176 tenancy applications and secured 40 new tenancies. Our process delivers proven results.

We can report our vacancy rate as at 30th September 2018 is 1.4%, which is significantly lower than the average in our area.


Investment Property Of The Month


Investment Property Of The Month

16A Debra Street, Centenary Heights
$439,000

Prime Investment Opportunity!

  • Perfectly positioned duplex
  • Currently returning $510 weekly
  • 633m² allotment

Each unit features:

  • 2 good sized built-in bedrooms
  • Updated kitchen
  • Open plan lounge/dining area
  • Reverse cycle air-conditioning
  • Single lock-up garage

Harsha Kumarasinghe – 0423 672 332


Links

AUGUST 2018


From the Principal's Desk...

And just like that… here comes Spring!

It’s been a little quieter this month in terms of enquiries and listings across both Sales & Property Management, but excitingly our teams have both generated great results during August.

Our Leasing Team achieved 50 new tenancies, which was a massive effort given our enquiries had dropped by over 60% from July (which is a notoriously busier period). We were really pleased to have held low vacancies throughout the month with a reduction also in the average vacant days on market.

Our sales team launched another 33 new properties to the market this month and realised 74 property dreams for our buyers and sellers. A low supply and high demand is certainly evident in properties for sale in traditionally ‘good’ suburbs. With a large push from owner occupiers, properties are being sold prior to hitting the market in many instances. Should they be openly marketed they are being sold rapidly with multiple offers on many occasions. Buyer’s are starting to place decent offers as they had been missing out on securing a home due to competition from others. However, the investor market continues to remain subdued.

We are proud of our professional team who can confidently partner with you in all aspects of your real estate journey to achieve the very best result. Thank you for your ongoing support and partnership. 

If you have any feedback for us, including articles you'd like discussed in coming months, simply reach out to me directly at katiek@remaxsuccess.com.au.


Giving Them A Helping Hand Into Investment


If you remember back to the process of buying your very first investment property, ‘stress-free’ probably doesn’t come to mind; and whether you now own one or multiple investment properties, you will probably always remember the big step you took.

With property ownership becoming seemingly tougher for future generations to achieve, helping your children set themselves up for their future may be crossing your mind.

There are many things that you can do as a parent, grandparent or guardian to help prepare your children for their property future.

Firstly, advice is free to give (whether it’s taken freely is another thing).

This can start from a very early age. The idea of piggy banks and pocket money is invaluable, providing life lessons in the value of money.

Open discussions about money can and will show children the importance of healthy money management throughout their lives.

‘Lived and learned’ experiences: you have these to share. If your children are looking at buying property, what advice would you have wanted to hear as a 20 or 30-something-year-old? Hearing that you need to get into the property market without hearing what it takes to do so, is unlikely to prove helpful advice.

Allowing your child to live at home a little longer in order to save for a deposit may be another way you could assist them, without taking an overt financial responsibility in the purchase. However, there will come a time where they will need to pay their way; so, introducing them to the cost of homeownership by asking them to contribute to the cost of household expenses is a practical way of preparing them for managing those household expenses of their own.

Not everyone is in a position to help financially, but assisting with deposits can help fast-track their home ownership journey. Of course, they will still need to prove their ability to make repayments on the loan in order to be successful borrowers.

Another option is, as parents, to go guarantor on the loan. Many first home owners are finding their way into property this way. Without outlaying a financial expense, this will use your property as security; but, if the borrowers happen to default on their loan, as guarantor you will be responsible. A finance specialist will provide detailed information around such options.

Lastly, a joint venture or partnership in co-owning a property may be beneficial for both parties. Not only are you helping your kids enter the property market, but you are expanding your own portfolio at the same time.


The Rental Generation


Would you consider renting for life? That may well be your tenant’s expectation.

Historically, the most common path to a comfortable retirement had three key steps: buy a house, pay it off before retiring, and save hard for as long as possible so you have a decent nest egg.

These days there are many who are finding it hard to make that first step and get on the property ladder, often because of house prices that are way out of reach.

In Australia and New Zealand, it’s a safe bet that home ownership remains strongest among the over-65-year-olds.

In an Australian survey conducted through finder.com.au, 47 per cent of respondents, who were renters, said they would consider renting for life. New Zealand 2013 Census figures have home ownership among those in their 30s dropping to just over 40 per cent between 2001 and 2013.

Many see the cost of buying - interest, rates and maintenance on top of a mortgage – as being much more than paying rent. Their focus is on saving, or investing, rather than buying a home to live in.

There are many reasons why someone may choose to rent rather than buy.

Renting can offer flexibility.

A tenant’s career path might necessitate frequent changes in location, or their profession may require significant travel making short term rental accommodation more suitable.

Not being locked in to a long-term loan allows people the freedom to structure finances differently.

If we accept that renting for life – either by choice or necessity – is likely to increase, the rental market will need to reflect that.

One thing that is certain is that people will seek greater security of tenancy.

There has always been fluidity in property management – as tenants come and go - but if the trend is to longer term rental, the trust you have in your property manager to ensure the right tenants will become even more crucial.

And what this also means for property owners, property managers and renters is that mutually respectful relationships will become increasingly important for all parties moving into the future.


Herron Todd White Valuers - Month In Review


As published by Herron Todd White Valuers

With spring fast approaching, Toowoomba traditionally emerges from hibernation after the long autumn and winter periods. Sales activity is typically much slower over the cooler months, most likely due to stable workforces and drier conditions during these periods.

The Carnival of Flowers, the main tourist attraction for Toowoomba, is held once a year in September and is broadly considered the spring board for property sales in the city. The influx of tourists, blooming gardens and warm weather combines to increase listings and moreover, interest from potential buyers.

The lead up to December is often the busiest time of the year in terms of sales activity as those residents with impending transfers in the new year tend to start looking at properties in the lead up to Christmas.

December and January tend to be the quietest months of the year in terms of sales volumes.

2018 sales activity continues to be very slow with volumes in line with those demonstrated in 2011 post the catastrophic flood event that hit the city.

Dwellings above $500,000 tend to be more influenced by seasonal variations as sales activity in these higher price brackets can be influenced by transitional workers such as school teachers, medical professionals and defence force personnel who are active buyers and sellers around the end and start of each calendar year.

Sales activity is slow and the median price is stable in Toowoomba with the drought affecting the broader Darling Downs region likely to keep market conditions relatively stable over the next twelve months with a bump in activity expected between September and December.


Rental Market Update


In August alone, RE/MAX Success serviced 924 unique tenant enquiries, conducted 211 property inspections, processed 137 tenancy applications and secured 50 new tenancies. Our process delivers proven results.

We can report our vacancy rate as at 31st August 2018 is 1.33%, which is significantly lower than the average in our area.


Investment Property Of The Month


Investment Property Of The Month

7, 8 & 9/541 South Street, Glenvale
Unit 7 - $299,000
Townhouse 8 - $339,000 
Townhouse 9 - $339,000

Get A Mighty 5.82% Rent Yield!

  • Private, gated community
  • Brand new unit complex
  • 3 bed, 2 bath, 2 car & 2 bed, 2 bath, 1 car combinations available
  • Quality fixtures & finishes including stainless steel appliances
  • Open plan living areas
  • Reverse cycle air-conditioners & ceiling fans throughout
  • Covered outdoor entertainment areas
  • Townhouse 9 currently rented for $380 per week

Jacqui Walker - 0419 648 026


Links

JUNE 2018


From the Principal's Desk...

AND IN THE BLINK OF AN EYE... Half of 2018 is already behind us!

We rounded out the end of the financial year and the first half of 2018 with a strong month across both sales and rental markets.

Our rental team have been busy also with another 59 properties brought to the market for rent this month. Enquiry has remained steady from last month but we’ve noticed an increase in the number of inspections and subsequent applications – all necessary to keep properties occupied and rent coming in!

Our sales team launched another 37 new properties to the market this month and realised 74 property dreams for our buyers and sellers. Market feedback has shown very little investor activity recently – so if you’re in the market to add to your portfolio, now is a great opportunity with little competition and some great investments with strong rental returns up for the taking.

We are proud of our professional team who can confidently partner with you in all aspects of your real estate journey to achieve the very best result. Thank you for your ongoing support and partnership. 

If you have any feedback for us, including articles you'd like discussed in coming months, simply reach out to me directly at katiek@remaxsuccess.com.au.


BUDGET: How Council is spending your money in 2018/19



THE average ratepayer can expect to be out of pocket an additional $105 a year, post-discount, off the back of a 3.49% average rise in rates and charges delivered in the Toowoomba Regional Council’s 2018/19 Budget.

Mayor Paul Antonio described the rate rise as "measured and responsible", noting that "disciplined planning has allowed Council to deliver the same average general rate increase for the fourth year in a row".

On a broader scale, total revenue raised from rates, levies and charges is expected to rise $12 million year on year.

The $491 million budget will see $316 million dedicated to operational expenditure for the delivery of services to ratepayers, and $175.13 million invested in capital infrastructure.

Of that capital investment, $71 million will go to infrastructure renewal programs.

Almost $60 million has been set aside for upgrade projects, and $44 million has been allocated for new works across the region.

By the end of the 2018/19 financial year, the Council is hoping to deliver an operating surplus of $735,000 and maintain its Queensland Treasury Corporation rating as "sound with a neutral outlook".

Breaking down the major areas of capital expenditure, Cr Antonio said $61.24m would be spent on roads, footpaths and bikeways, while $17.8m will be injected into water projects.

A further $10.58 million will be tunnelled into wastewater projects, and $11.62 million set aside for waste services.

Parks and recreation projects will receive $14.17m, community services and facilities will have a $41.32 million budget, and the remaining $18.4 million is reserved for business strategy and operations.

 

Focus on asset renewal

This year’s capital expenditure has moved away from spending on big-ticket items, with more of a focus on infrastructure renewal.

The Council's target spend on asset replacement is 90% of depreciation.

Last year, money allocated to asset renewal only hit 45%.

This year, Toowoomba Regional Council's Finance & Business Strategy Committee Chair Cr Mike Williams was pleased to say that had increased to 71% on a depreciation figure just shy of $100 million.

Cr Williams said the bulk of that renewal work was earmarked for the Council's water and sewerage infrastructure. He said this year's increased attention to infrastructure renewal projects would be an ongoing priority of the Council's into the future.

Budget spending

Water and Waste

  • $2.8 million to connect Hodgson Vale to the Toowoomba water supply.
  • $3.9 million on the design and construction of a new 8.2ML reservoir at Charlton.
  • $3.9 million for sewerage infrastructure at Wirraglen in Highfields.
  • $800,000 for the upgrade and replacement of water mains across the region.
  • $2 million towards the replacement of the Cressbrook Dam pump station switchboards.

Infrastructure

  • $9.2 million upgrade of Griffiths Street.
  • Partnering with the Australian Government on a $1.04 million black spot road safety improvements program.
  • A $1.7 million continuation of the rehabilitation of Pipeline Road in Pittsworth.
  • More than $22 million in regional road renewal programs, which is an increase of approximately $8 million from the previous year's Budget.
  • Development of a Toowoomba Regional Sustainable Strategy Project.

Environment and Community Services

  • $19.4 million for the new Nass Road Principal Works Depot.
  • $3.64 million to complete the Highfields Sport and Recreation Park, part of a $27 million investment by Council.
  • $731,000 for Community Grants Program. Round 1 opens in July.
  • $1.475 million for Cathro Park-Railway Parklands linkage project. Construction jointly funded by State Government.
  • $2.4 million for Queens Park Stage 5 completion, jointly funded by the Queensland Government.
  • $4 million for Stage 2 major refit at the Empire Theatre.
  • $1.7 million for major upgrades at Milne Bay Aquatic Centre.
  • $550,000 for a partial redevelopment of the Clifton Museum site.
  • $400,000 for maintenance of Hodgson Vale, Jondaryan community halls.
  • $320,000 to replace the floor at Millmerran Community Hall.
     

To find out more information, visit www.tr.qld.gov.au/budget


Help Us Welcome Our Newest RE/MAX Recruit


We are super excited to share with you the safe arrival of Property Manager, Alex Uholtt (nee Tierney) and husband Nick’s, first child – the oh so adorable Archer James Uhlott.

Both mum & bub are doing well and we know you’ll share in sending well wishes to Alex and her family as she enjoys the excitement of newfound motherhood.


Massive Mt Lofty Housing Estate Lodged With Council


A massive and controversial new housing estate in Toowoomba’s east is likely to head to a special Council meeting when the time comes.

That’s according to Planning & Development Chair Cr Chris Tait, after Defence Housing Australia confirmed it had submitted plans for its 379-hectare estate in Mt Lofty with the Toowoomba Regional Council.

The lodgement comes more than a year after DHA first signalled its intent for the land, prompting a backlash from nearby residents.

Cr Tait said the 343-lot estate would most likely need to head to a special meeting of the Councillors, which is often used to make decisions on contentious issues.

“I’d have to see what the community input is and make the decision at that time,” he said.

“More than likely, the answer is yes but it’s a long way to go. I would think it is a significant enough of a development (to warrant a special meeting).”

The extensive planning report from Property Projects Australia identified the site’s previous use as a rifle range, as well as its place on the State Government’s Environmental Management Register.

It also identified the “significant views” of the Lockyer Valley and plateauing of the land where the houses are proposed.

Traditional Aboriginal artefacts were found in the south-eastern section, and a special report from heritage consultants Evericks called the rifle range area “a place of local cultural heritage significance”.

DHA Senior Development Manager Rob Winters welcomed the Council process, saying that the organisation had pulled together a “peerless development”.

A community information day was held last month.

“We look forward to ongoing talks with Council about the detail in our experts’ reports, and about the financially responsible delivery of infrastructure,” he said.

Whilst we recognise the genuine concerns of some local residents in respect of matters such as increasing traffic flow to the area and associated management, we do believe this development represents an exciting opportunity.

Toowoomba locals will be well aware that this site is one of the last remaining available parcels of land in the highly sought after eastern escarpment. 

James O’Donohue from the Daniel Burrett Team is excited to see how the development progresses. “Being on the ground and knowing the demand for high quality escarpment land, we feel, although the mixed public opinion, it will have a positive impact on the advancement of our region and its ever-growing population. It is good to see that there is an emphasis on parkland and preservation of the current escarpment within the development approval, with more than 80% of the current parcel of land to remain untouched.

“There will also be a high percentage of the development offered to the public which will ensure a quality finished product, with blocks of land appealing to people from all walks of life, ranging from 400m2 to 2,400m2.”

For further information, visit https://www.mountloftytoowoomba.com.au/.


Want to know what's been happening with the market? Let us help!


We’ve continued our distribution agreement with the REIQ to provide our clients the most recent REIQ Market Monitor, at no cost to you! This 72 page report not only has data relevant to our local area, it also covers right across Queensland and is normally priced at $80 for an annual subscription. You can either contact your preferred agent directly at the office, or request your copy HERE. It’s that easy! We have lots of great information on our website – spend some time taking a good look around.


Rental Market Update


In May alone, RE/MAX Success serviced 1,792 unique tenant enquiries, conducted 329 property inspections, processed 231 tenancy applications and secured 48 new tenancies. Our process delivers proven results.

We can report our vacancy rate as at 30 June 2018 is 2.13%, which is lower than the average in our area.


Investment Property of the Month


Investment Property of the Month

15 Hibiscus Drive, Centenary Heights - $415,000

Great Location! Spacious Home!

  • 4 built-in bedrooms
  • Huge kitchen with dishwasher
  • Open plan living and dining area
  • Reverse cycle air-conditioning and wood fireplace
  • Family bathroom plus ensuite
  • Huge north facing pergola
  • Double carport
  • Fully fenced 641m² allotment with side access

Trevor Manteufel – 0407 610 818


MAY 2018


From the Principal's Desk...

WINTER IS COMING... Actually no, it’s definitely here!

As mentioned last month, with the cooler weather we’re continuing to receive increased reports of maintenance requests for heaters and reverse cycle air-conditioners that have not been in use during our warmer months. If not yet actioned, now would be an ideal time to book a service of your investment property’s heater to ensure it’s in top working condition before the end of the financial year.

Leasing enquiry this month saw a spike from April, with our team conducting over 50 more inspections and servicing an increase of more than 500 additional enquiries than the previous period, which has brought about solid results for the month.

Our sales team launched another 29 new properties to the market this month and realised 54 property dreams for our buyers and sellers.  

We are proud of our professional team who can confidently partner with you in all aspects of your real estate journey to achieve the very best result. Thank you for your ongoing support and partnership. 

If you have any feedback for us, including articles you'd like discussed in coming months, simply reach out to me directly at katiek@remaxsuccess.com.au.

 

There’s only 30 days left in this financial year.

Don’t forget to book maintenance now so payment is made within this financial year and you can claim this expense back on your tax immediately for the 2017-18 period.

If you have works you’d like completed in this period and paid prior to June 30 to maximise your returns, please get in contact with your Property Management Team today as tradesmen are normally very busy during this period!


End of Financial Year


Accompanying your June statement, we have provided an annual summary of income and expenditure for taxation purposes in the form of your complimentary Financial Year Statement for 2017-18.

 

Please be mindful to keep this in a secure place for your accountant to avoid any last minute panic when completing your tax return - your electronic copy will ensure you can produce this with ease from your own computer at any time!

 

We draw to your attention that whilst there is currently no fee for the initial provision of this fiscal year statement, requests to reissue monthly statements and/or financial year summaries may be levied in accordance with the administration charge rate nominated in our Privacy Policy.

 

Over recent years, we have been alarmed at the number of requests to provide duplicate statements. Please make sure your emailed statements are saved & retained for easy access and quick safe storage. It will also save you money and inconvenience!


Keeping your tenants warm and happy this winter


Winter seems to always sneak up on us. One day we’ve got the fan on and covers off, and the next we’re emptying the linen cupboard searching for that electric blanket we’re sure we didn’t throw out.

 

Which is why it’s helpful for Landlords to think about ways that may help their tenants keep warm this winter. We really don’t want them to up and leave for a sunnier location, leaving your rental income frozen!

 

Small modifications - sometimes overlooked for large and more expensive ones - can actually make a big impact on your property when it comes to keeping it warm and efficient.

 

Gaps in window and door seals can create a draft throughout the home. While this is nice during the hotter months, during winter it can be particularly uncomfortable while trying to keep the house warm, not to mention the pressure it can put on indoor heating devices causing them to use more power and place increased pressure on household income.

                                                                                                                            

Windows are the cause of much of lost indoor heat during winter. If your property is in a location which experiences dramatic changes in temperature, having the windows glazed can help retain the indoor temperature by shielding the inside from the outdoor temperature. It has the same result with hot weather. If the property does not have quality curtains or blinds, installing these make for a quick way to add a layer of insulation to keep the warmth in too.

 

If your property has heating systems installed (for example, reverse cycle air-conditioning units or a fireplace), or if you have provided your tenants with gas a heater, it is vital that they are in good working conditioning and tenants are aware how to use them correctly. Ideally, we would provide a copy of instructions to your tenant and hold the operating manual on file (to provide also for future tenancies).

 

If you believe your investment property may benefit from these suggestions, be sure to discuss these maintenance issues with your Property Manager.


We've got an appetite for progress!



The Toowoomba region continues to thrive and the introduction of many new food, beverage and entertainment venues is a prime example of this. We have started a list of 5 exciting new food opportunities that are sure to get your tastebuds sizzling.

 

First and foremost, let’s start with “The Bank”. Situated at the old Westpac building on the corner of Margaret and Ruthven Streets, it’s easy to see the progress taking shape for the new rooftop bar and bistro, with a structure now prevalent at the top of the building. Phil Collins, a Toowoomba developer owns the building; however renowned Toowoomba Publican Phil Coorey will run the bar from his premises.

 

Let’s stick with Phil for our second opportunity to keep an eye out for. Whilst the construction is still underway at The Bank, Phil has his hand in a number of other initiatives including the continuation of a monthly pop up food event he has dubbed “The Blank Space Truck Collective”, after hosting popular food truck events in the past. The event will draw food trucks from Brisbane and surrounds; the first of which will kick off at the start of May with entry just $5. It gives Toowoombaites a taste of some popular eateries that they may not normally have access to.

 

The third on our list is a venue at the site that has been previously home to Veraison, Olive Branch and more recently, Tom Collins underneath the Toowoomba Central Plaza Hotel. It has been purchased by the same company which owns and operates the hotel itself. The new bar, now operating as “Centro Bar and Restaurant”, serves coffee, light meals and alcoholic beverages, as well as providing room service to the hotel guests.

 

The Fourth on our list is sure to please our foodie friends with an abundance of German Cuisine gripping our city. Visionary entrepreneur, Aaron Goldie has already brought us the Moose – Chocolate Parlour & Cocktail Bar located at Walton Stores. He has since transformed the neighbouring old 2Birds restaurant into “The Bavarian Biergarten” offering 1 Litre Steins, German sausages and wood fired pizza.

 

Another german restaurant will call Grand Central home, with the opening date said to be later this month. The 300 seat casual dining restaurant called “The Barvarian” will sell pork knuckle, pork belly, schnitzels, gourmet sausages and other German goodies, as well as pouring a range of local craft beers and Bavarian favourites.

 

To round out our german theme, “Bar Wunder” is also set to open around June this year in Ruthven Street, next door to the Shingle Inn, after the owners of popular food truck Ich Bin Ein Bratwurst decided to find a more permanent home in Toowoomba. The owners, Mark McElligot and Fiona Davis, are rumoured to be bringing a rustic and retro vibe to the main street.

 

The fifth and final on our list is sure to send you into a food coma! An Italian restaurant has opened its doors at Eastville. “Bel Cibo”, which means “Good Food”, offers delicious pizza, pasta, risotto, salads and deserts. This is the owner’s second store, with their Redcliffe restaurant opening just 2 years ago. The Italian cuisine has been receiving great reviews from their customers, with many taking advantage of their delivery service, along with the option to dine-in or takeaway.

 

So whether you live locally or are an investor from interstate, there’s really no better time to swing by for a bite to eat!


End of Financial Year


Your complimentary Financial Year Statement will be provided on Saturday, 1st July 2017.

Please be mindful to keep this in a secure place for your accountant to avoid any last minute panic - your electronic copy will ensure you can produce this with ease from your own computer at any time!


Rental Market Update


In May alone, RE/MAX Success serviced 1,703 unique tenant enquiries, conducted 274 property inspections, processed 176 tenancy applications and secured 42 new tenancies. Our process delivers proven results.

We can report our vacancy rate as at 31st May 2018 is 1.89%, which is lower than the average in our area.


Investment Property of the Month


Investment Property of the Month

Unit 3, 15 Edith Street, Newtown - Offers Over $199,000

Tremendous Townhouse Near Clifford Gardens!

 

  • 2 large bedrooms, master with a walk-in robe
  • Spacious open plan living and dining room (with reverse cycle air-conditioning)
  • Striking tiling to updated bathroom with shower over bath combination
  • Updated kitchen with sizeable pantry, concept oven and rangehood
  • Security screens throughout
  • Single garage with internal access 
  • Rear courtyard
  • Solar panels
  • Low Body Corporate fees (small complex of 6)
  • Currently rented at $250 per week

 

Jacqui Walker – 0419 648 026


Links

APRIL 2018


From the Principal's Desk...

It’s certainly getting cooler here in Toowoomba, and with that we’ve found an increase in reports of maintenance needs for heaters and reverse cycle air-conditioners that have not been in use during our warmer months. As the weather continues to cool, it may be an ideal time to book a service of your investment property’s heater to ensure it’s in top working condition before it’s really needed and technicians are in demand. Perhaps it can form part of your end of financial year tax-deductible maintenance plan?

As expected, we’ve noticed fewer leasing enquiries this month, as the April-May period is one of the quietest times in our local market. With an abundance of public holidays and short weeks, we’ve had to maximise our time in the field negotiating sales and tenancies to bring about solid results for the month.

Our sales team launched another 34 new properties to the market this month and realised 58 property dreams for our buyers and sellers.  

We are proud of our professional team who can confidently partner with you in all aspects of your real estate journey to achieve the very best result. Thank you for your ongoing support and partnership. 

If you have any feedback for us, including articles you'd like discussed in coming months, simply reach out to me directly at katiek@remaxsuccess.com.au.


Herron Todd White Valuers - Month In Review


As published by Herron Todd White Valuers

Toowoomba’s economic drivers are quite varied and diverse in comparison to other localities around Queensland. This is most likely due to its central hub location being within close proximity to the state’s capital and being the major regional centre servicing the agricultural sectors of the Darling Downs to the west and the Lockyer Valley to the east.

Traditionally, Toowoomba has not been subject to volatile market movements given the diversity and relatively stable workforce underpinned by large government employers including numerous schools, the University of Southern Queensland, TAFE College, three large hospitals and the Oakey and Cabarlah army bases. The major industry sectors by employment in Toowoomba include healthcare and social assistance, education and training, with manufacturing and agriculture also being significant employers.

Toowoomba has also proven to be a popular location for retirees from the broader south-west Queensland area. At the last census, the proportion of 60 plus year olds in Toowoomba was 23.6% versus 18.8% for Queensland and 19.6% for Australia. This demographic mix supports the health sector which, along with the education sector, is forecast to enjoy continued strong growth in the region.

With a strong health sector, it is no surprise that medical professionals have dominated the prestige Month in Review April 2018 Residential 46 market in recent years and this trend is likely to continue. Professional workers tend to occupy areas such as the eastern suburbs while manufacturing workers and retirees tend to be widely spread throughout all suburbs of Toowoomba.

The majority of new investment tends to be concentrated in the western suburbs. Vacancy rates across Toowoomba are approximately 2.6% as at February 2018. The Toowoomba Second Range Crossing project under construction appears to have assisted in maintaining low vacancy rates, with many workers residing in the region. Vacancy rates and the impact on the investment market will be closely monitored when the Second Range Crossing nears completion at the end of 2018.

West of Toowoomba, the coal seam gas sector heavily influenced the main Surat Basin centres including Chinchilla, Miles and Roma. When the industry transitioned from the construction to production phase, many workers exited the region and a subsequent oversupply of accommodation emerged, with a major downward effect on property values and rents. These towns appear to have stabilised and returned to historic levels which are more aligned with their predominantly rural-based economies.


New Video Released of Second Range Crossing Construction



NEXUS Infrastructure has shared new footage of the Toowoomba Second Range Crossing project.

The new drone footage, filmed by the Queensland Department of Transport and Main Roads, shows the entire length of the new road project as of the end of April.

The video showed construction progressing in areas such as the Warrego Highway at Helidon Spa, Mort Street at Cranley, Boundary Street at Cranley, the Warrego Highway at Charlton, Toowoomba-Cecil Plains Road at Wellcamp and the Gore Highway at Athol.

Some of the Second Range Crossing construction sites are nearing completion, with the final stage of construction of the New England Highway realignment set to begin this month.


Dogs Still Number One Pet Among Renters in Australia


Rental property site rent.com.au has found that dogs are still the preferred animal for tenants around the country.

Rent.com.au’s Pet Resume tool has been used by over 75,000 people and the data shows that 68% of those were for dogs.

Pet Resume allows tenants to present prospective Landlords with a summary of their pet’s qualities, a photo and information like vaccinations and training. The purpose of Pet Resume is to allow pet owners to demonstrate that they are responsible pet owners when they approach prospective Landlords or Agents. It has also been our experience that Landlords are more willing to consider pets when they understand the breed and expected behaviours of pets and the level of care the pet owner demonstrates.

Today, around 30% of tenant applications have a pet resume attached, which is less than half the Australian average for pet ownership.

Rent.com.au found that almost 50% of tenants found it difficult to find pet-friendly rental properties. The data found that dogs reign superior over all animals, with the next closes being cats with 25%. There were also some niche entries accounting for 0.04% of the total, with pets including crabs, bats and scorpions.

As you know, we will always provide you with information to consider a pet application as a way to begin bridging the gap between the overwhelming demand for pet-friendly rentals, and the limited supply of these properties. When your property is offered for rent, your Property Manager and our Leasing Team can discuss offering the property for rent with “Pet Negotiable” for advertising in order to widen the tenant selection pool. Of course, you always have the final say of accepting any pet for tenancy (other than an aid-animal).


May Day, May Day!


International Workers’ Day, aka Labour Day, is a celebration of the working class. Back in 1886, workers of Chicago began their movement, fighting for eight hours for work, eight hours for recreation, and eight hours for rest. The holiday is also known as May Day, although May Day also represents a national holiday which stems from ancient celebrations of spring. Traditionally, May Day is characterized by the gathering of flowers and the fertility rite of dancing around the maypole.

To add to the confusion, Monday, May 7th is Queensland’s and Northern Territory’s public holiday for Labour Day. Victoria, Western Australia and Tasmania celebrated their day in March, and New South Wales and the ACT get their holiday in October.

Please note, our office will be closed on Monday, 7th May for our Labour Day public holiday. As always, we will service our 24 hour on-call emergency service for our Landlords and Tenants.


Rental Market Update


In April alone, RE/MAX Success serviced 1,142 unique tenant enquiries, conducted 221 property inspections, processed 150 tenancy applications and secured 39 new tenancies. Our process delivers proven results.

We can report our vacancy rate as at 30th April 2018 is 2.21%, which is lower than the average in our area.


Investment Property of the Month


Investment Property of the Month

32 Charnley Street, Kearneys Spring - Offers Over $309,000

Great Location For Family Or As An Investment!

  • 3 generous bedrooms
  • Open plan lounge and dining room
  • Renovated kitchen with electric cooking and dishwasher
  • Family bathroom with shower, bath and separate toilet
  • Secure single remote garage
  • Large garden shed
  • Walking distance to shops and schools
  • 697m2 allotment
  • Currently rented at $325pw til July 2018


Harsha Kumarasinghe – 0423 672 332


Links

MARCH 2018


From the Principal's Desk...

March felt like another short month, rounded out with Easter this year which meant we had to maximise our time in the field negotiating sales and tenancies to bring about strong results for the month.

Our sales team launched 40 new properties to the market this month and realised 72 property dreams for our buyers and sellers.  

We are proud of our professional team who can confidently partner with you in all aspects of your real estate journey to achieve the very best result. Thank you for your ongoing support and partnership. 

If you have any feedback for us, including articles you'd like discussed in coming months, simply reach out to me directly at katiek@remaxsuccess.com.au.


No Gangs Here



Since the late 1990s, Toowoomba has been home to a thriving population of Sudanese fleeing the horrors of war. Nearly two decades after first arriving, they have settled on the Darling Downs, becoming entwined in the social fabric of our community.

In Melbourne however, an intense social and political debate has erupted over the emergence of young African "gangs". Meanwhile our Toowoomba, home to an estimated 2,300 South Sudanese among 10,000 refugees from Africa and the Middle East, has remained peaceful.

This news story aired on A Current Affair this month and showcased some of the amazing people in our community.

We are proud to share that our agency was instrumental in working with the African communities to get them placed into suitable housing in the private marketplace, when they first started settling in our region.

We hosted workshops with one of the local elders, Angelo, and the support network agency he was aligned with at the time, often outside usual business hours.

Our vision was to bridge the gap between cultures to overcome some of the challenges associated with different styles of housing and tenancy responsibilities in Australia. What a wonderful success those initiatives have been!

We love welcoming families in to our wonderful city and continue to work with various local support agencies when housing refugees and immigrants in our wonderful Garden City.

We’d like to take this opportunity to thank our clients for trusting our guidance with tenancy approvals in these instances when traditional references are limited. Together, we’re making a real difference to lot of people’s lives. Thank you.


No Trade Days


Date Claimers – Anzac Day & Toowoomba Show

Under the Trading (Allowable Hours) Act 1990, Real Estate Agents and Salespeople are prohibited from selling real estate on Anzac Day.

In respect of our Diggers and to honour Anzac Day as a day of remembrance and gratitude, RE/MAX Success will not trade on Wednesday, 25th April 2018.Your understanding & support is appreciated.

Please also note, Thursday 12th April is a local public holiday for the Toowoomba Royal Show, which runs Wednesday 11th to Saturday 14th April.

Please note, our office will be closed for trade this day, however we will continue to provide our 24 hour on call service for matters of an urgent nature on 07 4638 6115.


Water Rates Due


Claim Water Recovery - ACT NOW!

The latest Water Rates Notice from the Toowoomba Regional Council is scheduled to be issued during the month of April. There are two components, being the water access levy and the water consumption charge.

Where your investment property is certified as water efficient, or provides for excess consumption to be charged, and the Tenancy Agreement identifies the tenant is responsible for water consumption, it is most important you send the second sheet of your water rates notice to us immediately once you’ve paid the account and claimed the discount (this is the page that shows the meter readings). We then calculate the actual water used by the current tenant & issue an account to be paid to you within 30 days, in order for the tenant to achieve a 10% discount also.

Whilst there is no specific legislation that states when a Landlord must pass on the water bill for the tenant to pay, there has been a Queensland Civil & Administrative Tribunal (QCAT) decision Quessada v Tym-On Investments Pty Ltd [2014] QCAT 531 which states the Landlord should pass on water bills within 21 days of receipt. This is significant. Previously, it had been our experience that up to 12 months from the billable date may be recovered.

Water is costly; hence charges run up very quickly. This published decision supports the idea that tenants cannot be expected to pay for water consumption charges which have continued to accrue during a tenancy, without provision of a water consumption account being issued to the tenant. We have experienced such instances over recent years.

To avoid disappointment, we urge all Landlords, to pay the water rates account directly within the specified discount period & send a copy to katiek@remaxsuccess.com.au so we may calculate what is payable by the tenant and recover this on your behalf.

Failure to adhere to these timeframes may result in your inability to legally recover water consumption charges.

 

Help us to help you!

Send your water rates notice to RE/MAX regularly every 6 months without delay.


Eggscellent Turnout


FREE Easter Egg Hunt Draws Record Breaking Crowd

 

Although a little more prepared now with this being in our third year of hosting, we were still surprised by the massive support we received for our FREE Easter Egg hunt held in Queens Park on Sunday morning, 25th March. So much excitement and so many smiling faces!

We had around 3,000 registered children (and their parents/grandparents) hunting and handed out over 50,000 Easter Eggs across the morning! We also had free face painting, jumping castles, live music, balloons and some fantastic local vendors were onsite with plenty of food & drink to keep everyone going.

Congratulations to our wonderful team who put in an enormous effort to coordinate such a successful event for our community. Special mention to our sales agents: Melita Bell, Justine Dill, Jacqui Walker, Tiffany Krause, Gary Klein, Trevor Manteufel, Harsha Kumarasinghe, James O’Donohue & Daniel Burrett who each personally contributed towards the hosting costs for the event, along with Realestate.com.au.

We’re already thinking about 2019… will one of you agree to look after the eggs for us? We’re thinking it’ll be more than 50,000 next year with the way the event keeps growing year on year. Although, all the chocolate at your fingertips for a week before the event might just prove to be a little too tempting! 

Our next community event will be our annual Make-A-Wish Movie Under the Stars which airs in the Amphitheatre of Queens Park and will be held in November as a charity fundraiser for Make-A-Wish Australia. We’ll be sure to share the details when the event draws closer.


Rental Market Update


In March alone, RE/MAX Success serviced 1,640 unique tenant enquiries, conducted 265 property inspections, processed 170 tenancy applications and secured 51 new tenancies. Our process delivers proven results.

We can report our vacancy rate as at 31st March 2018 is 2.33%, which is lower than the average in our area.


Investment Property of the Month


Investment Property of the Month

Unit 9, 484 West Street, Kearneys Spring - $410,000

Park Your Cash With This Rare Find!

  • 5 bedroom, 5 bathroom townhouse near USQ
  • High & consistent returns – 7%nett return, after expenses
  • ‘Share accommodation’ cash cow – excellent long term onsite management service
  • Offer as single bedrooms with ensuite plus large shared living areas & private courtyard area
  • Communal facilities inc BBQ, pergola, swimming pool & games room

‘Team Justine’
Justine Dill – 0488 025 275
Chris Shine – 0407 400 373


Links

FEBRUARY 2018


From the Principal's Desk...

It's been a busy month in both sales and leasing, and we're heading in to March in a strong position. As our Landlords, you've know us for our excellence in Property Management as we've held a leading positon in the Toowoomba area for a number of years. Earlier this month, our RE/MAX national awards and RateMyAgent awards recognised our exceptional sales performance with dominant market share and highest service recommendations for our region. We are proud of our professional team who can confidently partner with you in all aspects of your real estate journey to achieve the very best result. Thank you for your ongoing support and partnership. 

As we mentioned last month, if you have any feedback for us including articles you'd like dicussed in coming months, simply reach out to me directly at katiek@remaxsuccess.com.au.


2017 Award Rankings


Our efforts in providing an ‘Above the Crowd’ level of service through 2017 delivered an abundance of accolades at the annual RE/MAX Australia awards gala held in Brisbane earlier this month.

We were fortunate to collect a swag of office and individual awards across Sales, Property Management, Administration and Marketing. RE/MAX Success was named the Property Management Team of the Year and we also received recognition for Special Achievement in Office Marketing. The judges commented on our excellence across embracing new marketing techniques in the digital space whilst coupling these with ongoing and increasing exposure in print media and other initiatives including regular community events.

Our team was also awarded the Most Productive Office, which reflects the commission to agent ratio as the highest level of productivity/achievement per agent in the franchise network. That’s what happens when you have a team of elite high performers!

General Manager and Sales Associate, Daniel Burrett, also won Special Achievement in Individual Marketing, whilst three Sales Associates, Daniel Burrett, Melita Bell and Jacqui Walker entered the prestigious RE/MAX International Hall of Fame, having earned in excess of US$1 million in gross commissions during their RE/MAX Career.

The office was in the network’s top three sales offices for 2017 nationally, ranking second for number of transactions and third for gross commission. Special Sales Club Awards went to Melita Bell (Titan’s), Daniel Burrett (Chairman’s), Jacqui Walker (Platinum), and Gary Klein and Tiffany Krause (100% Club).

We also picked up nominations and finalists for Office Support Person of the Year with Megan Dempsey; Property Manger of the Year with Melisa Cross; and Personal Assistant of the Year with Emma Bowdler, demonstrating the quality and depth of our local team.

RE/MAX Australia Managing Director Michael Davoren said that 2017 had proved a generally solid market, giving the network and its individually owned businesses opportunity for growth.

“Whatever a real estate market hands out, agents who put in the hard yards are the ones to succeed; and it’s becoming more and more obvious that exceptional relationships and experiences lead to success in our business.

However, even as technology introduces our customers to an ever-increasing number of apps and portals, it is the agents themselves who deliver the truly stand-out real estate experiences for the customer. It’s the ‘uniqueness’ that our top office teams deliver.

Just ‘satisfying’ customers won’t be enough in 2018, service must be sensational and every agent be exceptionally valuable to their customer.”

The national event culminates with the announcement of the network’s ultimate honour, The Eagle Award, which is given in recognition of an individual’s significant contribution to the continued growth of RE/MAX in Australia. We are thrilled to announce that our Broker Owner, Katie Knight, was bestowed this prestigious accolade.

“Katie is a leader, a role model and represents how our profession should be seen,” Mr Davoren said.

“The Eagle Award is the highest individual honour that we present and is acknowledgement of the hard work and dedication she brings to being a committed real estate business owner and real estate professional. Katie secures the best in the business for RE/MAX Success and continues to develop passionate, highly skilled teams through committed training and professional development.”

Our team is more than just ‘real estate agents’; we listen and solve problems with a holistic approach across the board. We will continue to provide our agents with the best of ongoing training and mentoring opportunities to ensure we deliver the very best results. This month, our sales team has helped another 60 households achieve their real estate dreams.


Herron Todd White Valuers Month In Review


As published by Herron Todd White Valuers

The Toowoomba residential market appears to remain location and property specific with some suburbs continuing to perform better than others. There was a continued trend of low levels of sales activity and value stabilisation throughout 2017, however there appears to be a small rise in sales activity for the start of 2018.

 The middle ring market, comprising properties in the $350,000 to $600,000 price bracket which encompasses the median price of approximately $380,000, remains significantly more active than higher price points due to affordability. The prestige market for $1 million plus properties continues to show signs of strong interest and sales results in recent times, but is limited in supply. The middle ring price point encompasses a wide variety of household types, ranging from first home buyers through to retirees.

At the middle range price point there is a very broad range of properties available. Properties include colonials in East Toowoomba, South Toowoomba and Mount Lofty, 1970s brick in Centenary Heights, Kearneys Spring, Middle Ridge and Rangeville, and near new homes in surrounding areas such as Westbrook and Highfields. It is expected that values in this segment will remain relatively stable on the whole throughout 2018.

The majority of this market segment is owner occupied however there is a substantial amount of rental properties that also fall inside this price point. The rental market is in a balanced situation with vacancy rates of around 2.6% as at January 2018, keeping investors interested in the region, albeit at a lower level than in recent years. The current infrastructure projects are believed to have assisted in holding vacancy rates low with many employees living in the Toowoomba area during the construction phases.

Overall, despite the soft market conditions experienced throughout 2017 there is likely to be continued demand across the board for properties around the $350,000 to $600,000 price point and it is predicted that the owner occupier dominated suburbs such as East Toowoomba, Middle Ridge, Month in Review March 2018Residential 49 Kearneys Spring, South Toowoomba, Mount Lofty and Rangeville will continue to record a more stable growth pattern than investor driven suburbs across Toowoomba’s western suburbs.

Currently in the commercial market, leasing demand for industrial properties in Toowoomba is currently moderate and has resulted in an increase in vacancies. Although face rentals have been relatively static, lease incentives may need to be introduced to secure tenants.

Demand from owner occupiers for vacant industrial properties is also considered moderate with values likely to remain relatively static over the coming year.

Whilst interest rates are low, strong demand from investors is likely to continue. Yields between 8% and 9% are often achieved for fully leased properties in good locations. There have also been a few instances where properties with a strong tenant on long term lease have achieved a sub 8% net yield.

Demand and supply for smaller industrial strata units in Toowoomba is limited. This market is predominantly owner occupied with capital values also likely to remain static in the short to mid term. The lower price bracket often makes these industrial units attractive to entry level investors.

As construction of the Toowoomba Bypass Road continues (construction commenced in 2016) and the proposed Melbourne to Brisbane Inland Railroad project progresses ($8.4 billion in federal funding announced last year) it will be interesting to see whether demand increases for industrial land in the Charlton-Wellcamp Enterprise Area (located to the west of Toowoomba and positioned close to both projects).


Toowoomba Agent Joins Million Dollar Cast


RE/MAX Success agent Melita Bell will share the stage with some of the biggest names in the industry at the Million Dollar Agent Summit on 4th and 5th March, Brisbane Convention & Exhibition Centre.

Invited to speak at the event, which can attract thousands on Australian and international real estate agents each year, Ms Bell joins presenters from across the globe including one of the most successful and well-known pair of agents in the US, the Altman Brothers.

Already incredibly successful in the Beverly Hills and Hollywood Hills luxury housing market, Josh Altman and older brother Matt created The Altman Brothers to become two of the top agents in the business. Josh Altman has a starring role on BRAVO TV’s hit show ‘Million Dollar Listing’ (http://www.bravotv.com/million-dollar-listing).

Acclaimed real estate marketing coach and Million Dollar Agent Summit organizer, Glenn Twiddle, first met Ms Bell when she was working as a PA for one of his clients.

Since that time, Ms Bell has become one of Australia’s most successful agents, transacting more than 100 properties a year. The Melita Bell Team is part of RE/MAX Success in Toowoomba.

She began 2018 selling 14 properties and gaining 13 new listing in the first month. Not bad for a January, and there’s no sign of things slowing down for Ms Bell.

RE/MAX Australia Managing Director, Michael Davoren, said it was impressive for a regional town like Toowoomba to be so highly represented with real estate industry ‘thought leaders’ who are sought after for their expertise.

“Melita and RE/MAX Success General Manager, Daniel Burrett, are called on for insight into their sales success while Broker Owner, Katie Knight, is at the forefront of property management, addressing national and international audiences. These three join a raft of RE/MAX Australia business owners, agents and property managers invited to guide others in the industry. To have such calibre of people in just one RE/MAX office is outstanding,” he said.


Rental Market Update


In February alone, RE/MAX Success serviced 2,548 unique tenant enquiries, conducted 433 property inspections, processed 233 tenancy applications and secured 46 new tenancies. Our process delivers proven results.

We can report our vacancy rate as at 28th February 2018 is 2.39%, which is lower than the average in our area.


Investment Property of the Month


Investment Property of the Month

23 Gostwyck Street, Newtown - Offers Over $299,000

1,012m2 Of Prime Development Land Close To The CBD!

  • 3 bedrooms plus 4th bedroom/office
  • Large kitchen with natural gas cooking
  • Bathroom with shower over bath
  • High feature ceilings
  • Large garage plus workshop & storage
  • DA approved for 5 dwellings
  • Walking distance to Toowoomba CBD
  • 1,012m² allotment

Daniel Burrett - 0428 717 770


Links

JANUARY 2018


From the Principal's Desk... 

January is done & dusted and 2018 is well underway!
 
We're super excited to embrace this new syle of newsletter delivery this year, which we believe allows for a more content-rich and interactive delivery of news in an "as it happens" method. You will be able to access previous articles right here at any time, as we build publications through the year. 
 
If you have any feedback for us including articles you'd like dicussed in coming months, simply reach out to me directly at katiek@remaxsuccess.com.au.

Putting Your Investment Property Up For Sale


Deciding to sell

As part of setting your property investment goals, you should have a plan for if and when you will sell the property. It shouldn’t be an emotional decision to make, but rather the next step of your investment plan. The catch can be if at some stage you have lived in the property prior to renting it out. Always try to keep emotions out of the process and make your decision based on market conditions and your investment goals.

Tenanted or not?

There are lots of stories about whether it is a wise move to sell your investment property with a tenant in place. Ultimately, the decision should be based on the quality of your tenant. The pros of such a move include:

  • It can be more attractive to other investor buyers
  • It demonstrates attractiveness of the property to tenants
  • It gives proof of potential rental income

While the cons can look something like this:

  • Poor tenants may dissuade investor buyers
  • Tenants may not keep the property presentable for inspection
  • Tenants can restrict access to potential purchasers

Be prepared though that the decision may be made for you – most tenants don’t like the risk of waiting to see whether the purchasers will want them out, and so may vacate the property before it is sold. You can avoid this by giving your tenants the required notice of your intent to sell and cooperating with them during the process. If they are assured of their rights as a tenant, they may wish to stay.

It’s critical to have a Sales team that liaises and works synonymously with the Property Management department, as this helps to overcome any potential problems with selling the property whilst tenanted.

Maximising your returns

Don’t be in a rush to offload your investment property – it would be a shame to build great capital only to lose some of that at the finish line from poor planning. So before putting your property to market, be sure to cover these points first:

  • Determine whether you are making a capital gain or loss
  • Calculate the amount of capital gains tax (CGT) you will have to pay (refer to your accountant)
  • Sell with the agency that manages your property to ensure a harmonious process
  • Consider if you will have to pay your lender a mortgage exit fee
  • Liaise with your chosen sales agent to determine whether a refresh of the property prior to putting it on the market will boost the sale price

Unlike selling the family home, the sale of an investment property is strictly a business transaction. As such, always ensure the numbers stack up to justify selling the property and maintain a contingency plan should a sale not eventuate.

Contact your preferred RE/MAX Sales Professional on 46386100 for expert advice.


Links

Women are increasingly turning to property to provide financial security.


Westpac's annual Home Ownership Report reveals that women are overtaking men when it comes to home ownership.

A survey of more than 1,000 Australian home owners and first-home buyers found that women are ahead of men in most categories:

  • more women have bought a home to live in (women 28% of survey respondents compared with men 20%)
  • more women have bought an investment property (16% compared with men 13%)
  • more women are renovating (29% compared with men 27%)
  • and more women are selling a property (17% compared with men 14%).

 

The report also found that more women than men 'strongly believe' that ‘owning your own home is a reflection of your success in life’ (up 26% on last year) and that ‘property is a pathway to wealth’ (up 10% on last year).

Female first-home buyers were twice as likely as men to consider good investment potential in a home as essential (35% vs men 18%), and were also twice as likely to consider buying an investment property in the next five years (22% vs men 11%).

Overall, 71% of women are 'considering housing actions in the next five years', as opposed to 61% of men.

 

The report relays findings from a survey of more than 1,000 Australian home owners and first-home buyers. 

Westpac's findings support recent ABS data, which show that 60% of women live in homes they own outright or have a mortgage on, compared with 56% of men.

 

ATO data suggests that 47% of all investment properties are owned by women.

And data from the ATO shows the number of female taxpayers receiving rent has risen from just under 14% in 2010-11 to 15.4% in 2014-15. By comparison, over that period men only saw an increase from 14.7% to 15.9%. The ATO data indicates that approximately 47% of all investment properties are owned by women.

 

Fewer first-home-owner women think buying a 'move-in ready' home is important, down 19% on last year's result, while male first-home buyers are more likely to consider a 'move-in ready' home is essential.

ABS data also shows that more women (23%) than men (20%) own their homes outright. 

 

Women have more to consider than men when it comes to securing their financial future.

Head of women’s markets for Westpac Group, Felicity Duffy, said women have more to consider than men when it comes to securing their financial future.

“Women have a lot to take into consideration when it comes to looking after their finances throughout their lifetime. Whether it’s taking time out of the workforce to have children or care for elderly relatives, concerns about gender pay gap issues, or just living longer lives, all these things can impact a woman’s short term and long term financial security,” she said.

“It seems women are becoming savvier in the property market, and understand that home ownership can lead to greater financial security."

Source: Westpac Home Ownership Report.


January - the Month in Review



Our General Manager, Daniel Burrett & James O'Donohue (of the Daniel Burrett Team) come to you in this video from the stunning Gabbinbar Homestead in Ramsay Street.

Gabbinbar is one of the most stunning wedding locations in the Toowoomba region. It is also known on a national scale as being a destination wedding venue and has facilitated thousands of weddings since being converted from a private home many years ago. Gabbinbar made headlines this month after confirmation that a new wedding precinct will be developed on the grounds, creating room for wedding focused businesses such as celebrants, cake makers, photographers and florists.

Barry Bernoth, the owner of the Homestead, received support from the eight councillors who voted unanimously for the project's concept. However, there were over thirty Middle Ridge residents who lodged their disagreement with the development over nine different submissions noting a negative impact on other commercial businesses, increased traffic and inconsistency within the neighbourhood. The submissions against the development had to be taken into consideration by Council at the time of their decision; however this made no impact on the final initial decision from Council.

The new wedding precinct is not a done deal yet as the impact assessable application still has a couple of stages before the final tick of approval. We are extremely excited to track the project and keep you updated as it rolls out, with an expected rise in the region’s tourism industry as a result.

Another large project that has been approved to get underway is the revitalisation of the Heritage listed railway goods shed of the fringe of the CBD. The $10 million project will be shared 50/50 by the Toowoomba Regional Council and the Queensland Government’s 'Building our Regions' program, with $3.175 million already allocated to the project for the 2017/2018 financial year.

The development will be split over 4 stages and stage 1 of the project is currently up for tender, with applications closing mid February and work expected to commence in March. Initially, work completed will include repairs to the current structure and heritage fabric and an upgrade of services to the site such as water and sewerage, with minimal internal fit-out expected at this stage. The project will also include landscaping and car parks around the shed, with an expectation to include future parklands. The railway goods shed is predicted to be used for both commercial and community activities and events.

In terms of sales, our office has seen a continued rise in buyer and seller confidence throughout January with 37 contracts written between our 8 agents as well as listing 43 properties fresh to the market. There is a significant uptick of enquiry on aged stock and solid sale prices being achieved after negotiations.

As we turn our attention to the rental market in Toowoomba, in January alone RE/MAX Success serviced 1,589 unique tenant enquiries, conducted 269 property inspections, processed 144 tenancy applications and secured 42 new tenancies. Our vacancy rate as at the 31st of January remains significantly lower than the average in our area.

Herron Todd White have expressed that they expect vacancy rates to remain relatively low in our region throughout 2018, keeping investors interested in our region and a strong mix of both owner occupiers and investors looking to buy in the current market.


Investment Property of the Month


Investment Property of the Month

48 Ferguson Road, Westbrook - Offers Over $389,000

This really is Westbrook’s Best Buy!

  • 5 spacious built-in bedrooms
  • Open plan living and dining areas
  • Large modern kitchen with electric cooking facilities 
  • Family bathroom plus an ensuite
  • Air-conditioning and ceiling fans throughout
  • Covered outdoor entertainment area
  • Fully fenced 784m² allotment
  • Currently rented at $400 per week with vacant possession avaialble

The Melita Bell Team – 0407 071 262


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DECEMBER 2017


RE/MAX Welcomes Trevor Manteufel


We have always prided our team on delivering exceptional results for our clients – with both property management and sales services. And with another amazing team member joining our sales force, we know we’ll keep delivering!

Trevor Manteufel is a truly fantastic guy, who has an extremely credible reputation with over 16 years experience selling real estate in Toowoomba and local surrounding areas.

Trevor is relaxed, approachable and confident – he always delivers a high level of service, listening to his clients needs and making the sale process a positive and worry-free experience.

Looking for integrity with experience? Call Trevor anytime 0407 610 818.


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New Year, New Challenge


New Year, New Challenge

This past year we have continued to experience a steady rental market, as we forecast. We have continued taking proactive measures with our dedicated Leasing Team, including offering inspections of rental homes from 7am to 7pm to capture as much tenant enquiry for our properties as possible.

We’ve had fantastic feedback from the public and believe these types of innovative strategies have helped us to maintain a lower than average vacancy rate for our area – presently just 1.42%; and we’ve managed also to reduce the average vacant days on market, despite a large selection of properties being offered for rent and tenants having greater choices.

That said, rental increases in many instances may not be sustainable in the short term based on supply and demand. As Landlords ourselves, we understand the importance of maximising your return. We realise you can’t bank vacancies and appreciate both holding and compliance costs continue to rise. When discussing our recommendations with you, we always consider these factors to provide you the very best advice.

The next quarter to Easter is traditionally our busiest period with relocations so we are optimistic of securing good tenancies conditional upon competitive pricing and good presentation. All RE/MAX team members are primed for the hectic and challenging months ahead. Our office will continue to open 7 days a week and work extended hours to capitalise on opportunities in securing quality tenants.

Are you keen to add to your portfolio, or know the new value of your current investment portfolio? Our growing #1 Sales team is ready to assist – just contact Katie or your preferred Property Manager and our team will action without delay! Let’s make 2018 an amazing year for you, your family and your investments! 


Should I Allow a Pet?


This is one of the most topical issues pertaining to Management & General Tenancy Agreements.

Australia has one of the highest rates of household pet ownership in the world, with 62% of households having a pet. In Queensland 39% of households have a dog, 24% have a cat and 12% have both.

Most families in modern society have a pet – it’s part of educating children about love, care, companionship and responsibilities. The term 'fur baby' has been used to describe this phenomenon with both the Oxford English and the Macquarie Dictionaries admitting the term to their pages in 2015.

Dismissing this as a passing fad would be denying the fact that there is clear and present demand for pets as part of a household. Given the demand for pet friendly premises, it’s surprising that only about 10% of Queensland’s rental properties allow pets. While there are no hard and fast statistics available, it’s estimated about 30% of pets are surrendered to the RSPCA because of their owners’ changed living arrangements, which includes moving into rental properties where pets are not allowed.

A Landlord’s greatest concern permitting a pet, is the potential for property and/or yard damage to occur as a result.

A professional Property Manager will ensure there is a special condition forming an Annexure to a General Tenancy Agreement to protect the interests of the owner & it is usually recommended that pets not be permitted inside the home, unless they have references to demonstrate their suitability or they are specially trained to assist with a disability. Registration of the dog or cat with the Local Authority will be required prior to occupancy.

The Tenancy Agreement should clearly enforce it is the Tenant’s responsibility to rectify any damage caused by their animal to the premises including lawn and gardens at the Tenant’s cost, should any arise.

A Property Manager will regularly inspect the premises and quickly be alerted if there has been any breach of the Tenancy Agreement which may result in the immediate removal of the animal from the property, as outlined in the special condition. Upon vacation of the premises, a professional pest control company must carry out internal & external flea fumigation, at the Tenant’s expense. The Landlord / Agent will also reserve the right to enforce a deodorisation of the property if deemed necessary.

Over our past 19 years managing residential tenancies, it has been our experience that most people are responsible pet owners who fulfil their obligations, without issue. Pet friendly homes also attract tenants faster! 


Market Update


In December alone, RE/MAX Success serviced 1,476 unique tenant enquiries, conducted 199 property inspections, processed 125 tenancy applications and secured 65 new tenancies. Our process delivers proven results.

We can report our vacancy rate as at 31st December 2017 is 1.42%, which is significantly lower than the average in our area.