Why The Listing Price is Critical

by Jones Ballard In Uncategorized

5. July 2018 08:00

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If you are contemplating selling your property, it is vitally important to consider what the listing price will be, and what motivates potential buyers.

Quite often, and quite understandably, Sellers form an emotional view as to what their property may be worth. There are usually many happy memories attached to a home, and it is typically a safe haven in which to live and bring up a family.

However, buyers tend to take a more pragmatic approach when purchasing a home, and so price is often a critical consideration.

Therefore, the very best way to achieve the market value for your home, and to give you the best chance of selling in a reasonable time frame, is to ensure it is priced in accordance with market sales evidence, rather than on emotion.

Jones Ballard Property Group has access to the most up to date sales evidence within your area, and as such, we’re in an ideal position to provide you with an accurate estimate of what your home may be worth today.

Contact us on the form below for more information.


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Getting Ready for Winter Storms

by Jones Ballard In Uncategorized

4. July 2018 08:00

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According to the Department of Fire and Emergency Services, “Storms are the most common natural hazard in Australia, can cause millions of dollars worth of damage, and pose a threat to people and property”.

They recommend a number of tips to minimise the risk that storm damage can do, such as:

  • Trim branches around your home to prevent them falling on your roof or car
  • Clear gutters and down pipes so they do not overflow after heavy rain
  • Store or weigh down heavy objects around your home or work, that could be picked up and thrown by strong wind
  • Prepare an emergency kit with a battery operated radio, torch, spare batteries and first aid kit
  • Have an emergency plan ready to put into action, including a relocation plan for your family and pets, in case your home becomes flooded.

For more detailed advice on what to do before, during and after a storm, visit the Department of Fire and Emergency Services website at www.dfes.wa.gov.au/wintersafe


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Reserve Bank Official Cash Rates

by Jones Ballard In Uncategorized

3. July 2018 16:16

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At its recent monthly Board Meeting held on the 3rd July 2018, the Reserve Bank Board kept official cash rates at a record low of 1.5%. It is now over 90 months or 7 and a half years since the official cash rate has risen in Australia.

Here is a snapshot of rate movements since November 3rd 2010 when official interest cash rates were at 4.75%.

Date Movement down New Rate
November 2010 4.75%
November 2011 0.25% 4.50%
December 2011 0.25% 4.25%
May 2012 0.50% 3.75%
June 2012 0.25% 3.50%
October 2012 0.25% 3.25%
December 2012 0.25% 3.00%
May 2013 0.25% 2.75%
August 2013 0.25% 2.50%
February 2015 0.25% 2.25%
May 2015 0.25% 2.00%
May 2016 0.25% 1.75%
August 2016 0.25% 1.50%

 

There have been 12 cuts to the official cash rate since November 2010.

The highest recorded official cash rate in Australia was back in January 1990 when interest rates peaked at 17.5%. The median house price in Perth at that time was $99,600.

How times have changed, especially when you look at the comparison chart below (source: REIWA):

Year Official Cash Rate Perth Median House Price
1990 17.5% *$99,600
2018 1.5% *517,650

 


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