Food of the (Greek) Gods!

The Apollo, Potts Point. Image: Nikki To

It feels like Greek week in Sydney, with hatted Potts Point restaurant The Apollo announcing a spin-off eatery, Olympus due to open in late 2024 at Wunderlich Lane at Surry Hills Village.

Olympus will be setting up shop in the bustling new Surry Hills development on the corner of Cleveland and Baptist streets, also home to future projects by culinary heavyweights like LuMi’s Federico Zanellato and House Made Hospitality.  

Wunderlich Lane, Surry Hills Village, Artists Impression

The Apollo in Potts Point also boasts a successful sibling in Tokyo but co-owner Jonathan Barthelmess emphasizes that Olympus at Surry Hills Village will be forging its own path. “The food at Olympus will be more traditional and regional, inspired by recent trips around inland Greece,” he explains. Diners can expect hearty fare that captures the “food of the mountains with a touch of Athenian attitude added to the mix.”

Sydney is in the midst of a get-me-to-the-Greek food trend with new Greek influenced restaurants opening all around the city. But what’s driving the current push? Sydney has a long and steady history with the cuisine and also Greek food of the faster variety. 

Peter Conistis, Ammos, Brighton-le-Sands

Peter Conistis, a true pioneer of modern Greek cuisine, is excited by this culinary movement. He opens Ammos, a new waterfront restaurant at Brighton-le-Sands this week but it isn't his first Greek launch. The chef, who recently left Alpha, has run a string of venues going back to Cosmos restaurant in east Sydney in 1993. “Cosmos was the first hatted Greek restaurant in the Good Food Guide,” says Conistis, a pioneer of modern Greek cuisine who put dishes such as moussaka of scallop and eggplant on the map. 

Peter Conistis - Scallop and Eggplant Moussaka Recipe Here

Kostas Tomaras, co-owner of the iconic Marrickville institution The Yeeros Shop, attributes this trend to the rising popularity of travel to Greece. He’s observed a marked shift in customer pronunciation of “yeeros”, indicating a growing familiarity with authentic Greek flavors. “The cuisine itself is so diverse, and this is why we think it’s currently booming,” Tomaras explains. “Not only is it delicious, but the Mediterranean diet is one of the healthiest alternatives out there: high in protein, filled with vegetables, and there is an option for everyone from vegans and vegetarians to meat eaters.” 

With its promise of traditional flavors and a trendy location, Olympus is poised to become a major player in Sydney’s dynamic Greek food scene. Olympus will open in late 2024 at Wunderlich Lane, part of the massive Surry Hills development on the corner of Cleveland and Baptist streets. With world-class restaurants, bars and shopping around every corner, Wunderlich Lane is set to be a must-visit destination for premium dining and retail.

If you want to learn more about the exciting new development at Surry Hills Village - contact Emma Chappell today to book a tour of the completed apartments MOVE IN READY.

Emma Chappell
Head of Projects (Sales & Marketing)
emma@cramerproperty.com
Mob: +61(0) 404 769 509 

Read the Original Articles at Sydney Morning Herald here and the Greek City Times here

Marrickville is going Gangbusters

Marrickville has just been recognised by the NSW Government as one of the safest and most vibrant nighttime destinations in Sydney.

Darcy Byrne visited Lazy Bones to announce that Marrickville has been accredited as a Purple Flag district, a world wide recognition of places that have high quality entertainment, food, transport & lighting.

Marrickville is going gangbusters and is only going to get better with:

More breweries and distilleries than anywhere in Australia.
The Town Hall being converted to a live music venue.
Ever more bars, cafes and restaurants.
One of the best public libraries on earth.
A new special entertainment precinct coming allowing later trading for venues that host gigs.

If you want to live in the heart of this exciting community contact Emma Chappell today and learn more about the last few apartments at Wicks Place.

Investment Property Series Part 1 – Why to Invest in a rental property?

Investment Property Series Part 1 – Why to Invest in a rental property? 

Investing in property is one of the most popular forms of wealth building in Australian, and more and more Australians are jumping on board. Adrain Kelly, previous president of the Real Estate Institute of Australia, says Australians still view property as a “more stable life raft” than the unpredictable and often turbulent stock market. Following the stock market collapse on the early 2000s, Kelly points out that “many people wary of the stock market’s peaks and valleys are more inclined to put their hard-earned savings into bricks and mortar.” 

Regular rental yields
Rental yields provide immediate and consistent rewards for investors. Yields can be used to pay off a property, or in the case of many retirees, provide regular and highly predictable funds to live off. They can be put into trust for your children’s future or radically increase your cash flow, allowing for the purchase of luxury items and holidays.

Strong long term capital growth 

Australia’s large cities, Sydney in particular, have shown exceptional capital growth across the long term, and regular market booms over short periods. Such outstanding levels of capital gain are an incredible incentive to property investors in addition to regular rental return on investment. 

Property investment less risk 

One of the chief reasons investing in property is almost always safer than investing in stocks and shares is that it does not require specialised knowledge and regular if not constant monitoring. As with any form of betting, even the most experienced can sustain huge loses, let alone regular laypeople who comprise of the vast majority of stock market investors.

Property is a tangible asset
Investing in a physical asset that you can see with your own eyes, inspect inside and out prior to purchase and have it checked regularly in periodic inspections to ensure its good upkeep is a major persuasive factor for many investors. Investment property advisor from Abercromby’s, Lilly Schneider, explains the physicality of property “provides confidence and total control for investors, something that isn’t guaranteed in the stock market.

Considerable tax deductions
Owning a rental property offers investors great tax benefits. Negative gearing was made available in the 1980s in an effort to encourage construction and allow the government to house Australia’s expanding population. Even more necessary today, Director of PB Property, Pina Brandi, says this tax incentive encourages investors “to buy and support the construction of more dwellings. This translates into more jobs, more service providers, more opportunities and keeps the country developing,” creating a win/win for the overall economy.

The other major tax incentive is the capital gains tax discount, introduced by the Howard Government in 1999, and allowing individual taxpayers to reduce their CGT by 50% if the asset–including property has been owned for at least 12 months.

Excellent levels of investor market confidence 

Confidence has well and truly returned to the investor market following 2022’s lull. Recent data from the Australian Bureau of Statistics shows new investor mortgage commitments have risen to 35.3%, the highest level since 2017. And this is despite the RBA’s 2022 run in consecutive interest rate hikes.

Whether you currently own an investment property or are about to acquire your first, Cramer Property has a variety of investor-perfect listings.

And for exceptional Property Management services that make renting your property a breeze, contact our Senior Property Manager, Silke Weichenhain on 0403 034 457.

Disclaimer: This article contains general information gleaned from various sources. All information is of a general nature only. This information is not a substitute for specific legal, financial or accounting advice.

Sydney's Property Supply Problem

Why is there such a shortage of property in Sydney? 

With Australia’s population ever-expanding, housing supply shortage is a growing issue for our population. Australia-wide, the total number of for-sale property listings is approximately 30% lower than a decade ago. Here are the chief factors that have caused the supply crisis: 

• Limited Land Supply – This is most prevalent in the inner city suburbs of major metropolitan areas 

• Increasing Hold Periods – Home owners and investors appear to be holding their properties for longer, particularly in blue chip suburbs 

• Increasingly Sluggish Activity of Residential Development – far fewer Development Applications are being lodged due to the following two point 

• Inefficiencies in the Planning System – the process that developers need to go through with councils are increasingly frustrating 

• Rising Cost of Construction – Building costs including labour and materials have been seriously exacerbated by the Covid-19 pandemic 

Sydney’s Limited Housing Supply
Nowhere is supply more of an issue than in major capital cities. Sydney’s population has grown at such a rate that there are literally not enough homes to shelter everyone. All the factors listed above have created a perfect storm in terms of limited supply, with Inner City suburbs being particularly under-stocked vis-à-vis demand. 

Historic housing construction approvals in Greater Sydney and regional NSW

Source: Australian Bureau of Statistics 2022, Department of Planning and Environment analysis

How Supply has Radically Affected the Rental Market
This supply shortage also has a flow on effect in the rental market, with low stock levels and historically low vacancy rates creating radically increased demand resulting in record levels of rent increases. This is great news for investors, who are able to get increased return on investment and have far less chance of vacancy than in times gone by. 

Considering Property Investment? With further property supply and rental property shortfalls anticipated for 2025 and 2026, investing in available property now could be the way to go. Offering solid return on investment and capital growth over time, purchasing an investment property, particularly if exceptionally designed in a desirable, well connected location, makes good financial sense. Cramer Property have a selection of outstanding properties all very close to completion, ready for rental within mere months. Contact Emma Chappell today to learn more:

Emma Chappell
Head of Projects (Sales & Marketing)
emma@cramerproperty.com
Mob: +61(0) 404 769 509 

Disclaimer: This article contains general information gleaned from various sources. All information is of a general nature only. This information is not a substitute for specific legal, financial or accounting advice.

Surry Hills Village: A Haven of Luxury Living and Exquisite Retail Experiences

Surry Hills Village: A Haven of Luxury Living and Exquisite Retail Experiences 

Artists Impression, Surry Hills Village Retail Laneways

Surry Hills & Redfern are neighbouring inner-city suburbs of Sydney, Australia, that are about to undergo an incredible revitalisation with the opening of TOGA’s Surry Hills Village Residences, Terraces and Retail Laneways. 

Surry Hills Village, a beacon of luxury living and premier retail experiences, is nearing completion, poised to redefine modern living in the heart of Sydney. With the final touches being applied to the Residences and Terraces, residents and visitors alike eagerly anticipate the grand unveiling in mid-2024. 

Nestled within the vibrant Surry Hills / Redfern district, Surry Hills Village offers an unparalleled blend of sophistication, convenience, and community. Boasting meticulously crafted residences and terraces designed to exceed the highest expectations, this development promises to elevate the standard of urban living. 

Artists Impression, Wunderlich Lane, Surry Hills Village

One of the most anticipated features of Surry Hills Village is the enchanting Wunderlich Lane, an eclectic haven for food connoisseurs and beverage enthusiasts. Scheduled to open its doors to the public between July and September 2024, Wunderlich Lane will tantalize the senses with an array of culinary delights and artisanal drinks, carefully curated to satisfy every palate.

Artists Impression, Surry Hills Village

Moreover, Surry Hills Village is proud to announce the arrival of esteemed retailers, further enriching the local landscape. In June 2024, esteemed shopping brands such as Harris Farm, Coles, and Vintage Cellars will unveil their offerings, providing residents and visitors with unparalleled access to premium groceries, fine wines, and gourmet delights.

Artists Impression, Surry Hills Village Retail Laneways

Surry Hills Village represents more than just a collection of residences and retail spaces; it embodies a lifestyle characterized by luxury, diversity, and sophistication. Whether indulging in the culinary delights of Wunderlich Lane or perusing the aisles of renowned retailers, residents and visitors will discover a harmonious blend of modernity and tradition within this dynamic urban oasis.

For more information and updates on the Residential Apartments, Terraces and Penthouse remaining for sale at Surry Hills Village, please contact Emma Chappell:

Emma Chappell

Emma Chappell Head of Projects (Sales & Marketing)
emma@cramerproperty.com
Mob: +61(0) 404 769 509

 

About Surry Hills Village:
Surry Hills Village is a premier residential and retail development situated in the heart of Sydney's vibrant Surry Hills district. Offering luxury residences, terraces, penthouses and a diverse array of retail experiences, Surry Hills Village is poised to redefine modern urban living. With its commitment to excellence and community, Surry Hills Village invites residents and visitors to experience the epitome of sophistication and convenience in one of Sydney's most sought-after locales.
ENQUIRE NOW about the incredible luxury Residence that awaits you.

BREAKING NEWS - Sydney’s apartment market predicated to rise by 23% in next 3 years

Wicks Place, Marrickville

Sydney’s apartment market predicated to rise by 23% in next 3 years

Leader in global economic forecasting and quantitative analysis, Oxford Economics Australia have released their report, Residential Property Prospects. The extensive research conducted predicts that in the coming 3 years, Sydney apartment prices will rise by a staggering 23%, outperforming houses which are estimated to climb by 16%. 

Dwelling Stock Deficiency

The report forecasts a growing gap between the number of dwellings being built and the number needed to house Australia’s expanding population. Oxford forecasts there will be a “stock deficiency’’ of 97,284 dwellings in 2024 – a number that will grow to 145,470 by 2026. Oxford Economics senior economist and report author, Maree Kilroy, said this shortfall would underpin prices for houses and units nationally, as well as keep upward pressure on rents. 

Record Migration and Low Vacancy Rates

Record net overseas migration and a sharp decline in residential property construction has caused the rental market to tighten in 2023, with the national capital city vacancy rate remaining at an extremely low 1% causing the recent record high rental rates. Oxford Economics predict a slower but still robust rental inflation in 2024, with house rental costs to rise by 4.1% and apartment rental rates by an even higher 5.8%. 

Projected Interest Rate Cuts

The report states that Sydney’s skyrocketing house prices will push property buyers to the more affordable apartment market, lifting apartment demand and therefore driving apartment prices up. And the interest rate cuts that are projected to track downwards from the latter part of 2024 will cause apartment prices to rise commensurately as more people who can afford the finance hit the market. 

Decade lows for dwelling approvals, commencements and completions

The worsening “stock deficiency” projected by Oxford Economics is supported by the latest dwelling construction data from the Australian Bureau of Statistics (ABS), which shows dwelling approvals, commencements, and completions are tracking around decade lows at the same time as Australia’s population is growing at a record pace. And as it doesn’t appear that the Albanese Government is going to slow its full steam ahead approach to immigration anytime soon, Australia’s housing shortage will only worsen, placing upward pressure on both apartment prices and rents.


Surry Hills Village, Redfern

Investor confidence strengthening

The detail in Oxford Economics’ report provides a welcome boost to the confidence of many investors that now is a good time to invest in Sydney apartments. If you are interested in either investing or purchasing a fantastic new residence, Contact the Cramer team today to learn more about Wicks Place, Marrickville or Surry Hills Village.

Emma Chappell
Head of Projects (Sales & Marketing)
emma@cramerproperty.com
Mob: +61(0) 404 769 509 

Will 2024 be a good year to buy Sydney real estate?

As the New Year kicks off, leading economists are already anticipating a national surge in property prices. The projected price increases are being driven by a pronounced property shortage, the rental market crisis, the stabilisation of interest rates and a new wave of immigration. And as usual, Sydney property is at the forefront of the Australian price surges.

In spite of increasing mortgage costs, the housing market showed exceptional resilience last year, with a nationwide increase of over 8%. This achievement defied pessimistic forecasts and marked a substantial turnaround from the 5% decline observed the previous year. And Sydney property prices increased by a whopping 11.1% over the last year since January 2023. These increases are seen particularly in lifestyle or blue chip suburbs where properties are tightly held causing further supply issues.

                                           

Over the past two years, the Reserve Bank has implemented a series of 13 incremental cash rate hikes, ultimately pushing interest rates to a high of 4.35%, all in a concerted effort to combat persistent inflationary pressures. However the prevailing opinion amongst economists and financial experts predicts rate cuts across the next quarter, with experts asserting that Australia’s central bank has reached the peak of its tightening cycle.

Sydney Property supply issues are reaching critical levels, driven by our ever-expanding population, fed largely by the new immigration surge, the sudden increase in renters who want to own their own home and those moving back to the city after the mass exodus induced by the covid-19 pandemic. The Sea Change dreams of some who left at this time have been turned on their heads, with the realities of regional life prompting a desire to move back to ‘the big smoke’.


      SOURCE: Sydney Morning Herald
                         
Regarding renting, PropTrack economist Angus Moore found that Sydney is by far the most expensive city to live in in Australia and the undersupply of property continues to see rental prices rise, at an astounding 11.1% in 2023! Based on median rents, Sydney is $10,000 a year more expensive to live in than Melbourne. The low availability and incredibly high rents are forcing many into the housing market before more property prices rises occur.

In light of the exponentially rising rental market of the past year, it makes sense for would be First Home Buyers and First Time Investors alike to place their feet firmly on the property ladder. And with property prices set to rise again, there really is no time like the present. In the words of property guru, Michael Yardney, “Rather than trying to time your next property purchase based on where we are in the cycle, take a long view and if your income is secure and the time is right for you, this may be an ideal time to get a foothold in the Sydney property market while others are sitting on the sidelines.”

So if you are serious about getting into the property market, or would like to purchase a brand new, architecturally superb, fabulously built home, Cramer currently have on offer some outstanding properties in Sydney’s best blue chip and lifestyle suburbs, call the Cramer team today to learn more.