Wednesday 5 June 2024

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.

Wednesday 1 May 2024

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.

Tuesday 9 April 2024

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 




Wednesday 31 January 2024

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.








Monday 11 December 2023

Flawless Festivities in Smaller Spaces - Part 2


Part 2 – Staging in the silly season!

After reading Flawless Festivities Part 1, you’ve hopefully organised the main practicalities in advance so like any great general, you’re ready for action. However my best advice to any host is before you do a thing, pour yourself a glass of your choice and put on your favourite music. This will take away any hosting jitters, allow you to collect your thoughts and help you get into the swing of things.



Now let’s get cracking! Hopefully you’ve prepared any food possible in advance, so now take care of food that needs preparing early and put drinks in the fridge or an esky with ice so they’ll be lovely and cold for when the guests arrive. I do love an alcoholic punch to get everyone in the mood so you may want to prepare this and put get it cooling sooner rather than later.

And now for the fun part – Staging! Take a deep breath and take in your space. With larger groups, you’ll obviously need to use as much area as you have at your disposal. You’ve hopefully already sorted the table, chairs and festive touches, so now work out if you want to go buffet style for serving. I highly recommend this as it leaves you far freer to enjoy the occasion than if you are busy serving up for your guests and keeps the centre of the table free for festive tableware.



The kitchen benchtop is a great spot to set up your smorgasbord or you may own a buffet. Now start preparing your servery by putting out non-perishable food and plates. Next work out where to set up the bar. If there is not enough space on the kitchen benchtop, find a table large enough to hold drinks and glasses. Place it in an accessible spot that won’t be in the way of your guests. Place red wine and glasses on top.

Now to the table and chairs. If you have a large or extendable dining table, put it in the middle of the room, which may involve moving couches to the wall. If your table’s a bit on the small side, extend it with a foldout as per Part 1. It’s summer, so if you have a balcony, and are short on interior space, open the sliding doors to their max to accommodate your spread.

 


Next, and before you go placing the chairs, dress and set your table. You’ve worked out your theme, now apply it! If you are joining two tables together, a tablecloth creates a seamless transition. If you’ve gone for buffet style serving, you have plenty of room to populate the middle with scented candlesticks, flowers/pinecones/fir tree branches/crackers – whatever you’ve chosen for the occasion. Next lay down the cutlery and you’re ready to place the chairs. And a final staging hint - where there is any tension, the clever use of place cards is not to be underestimated. Separate any blood rivals at opposite ends of the table.

Finally finish cooking/preparing last minute menu items and you’re ready to get dressed up and welcome your tribe! So however you choose to celebrate the silly season, we wish you a wonderful hosting experience and the happiest and healthiest of holidays.

Best wishes from the Cramer Crew






Flawless Festivities in Smaller Spaces - Part 1



Part 1 – Getting prepared!

Whether celebrating Christmas, Hanukkah, the holidays or the long summer days, the festive season is a time to come together. And for those of us who love to host, fitting the family can seem challenging when living in an apartment. But be not discouraged! Help is at hand with the following tips on how to entertain big in a smaller space.

Rule #1 – Get prepared! I’m going to call it from the outset - families are great but we can’t choose them. We can however choose our friends so if you love entertaining without the stress of not putting Aunt Claire next to Susan, don’t forget to organise separate festivities chez toi for your non-familial nearest and dearest. With your friend tribe coming over, it’ll be all the fun with no drama. Unless of course you are in one of those rare breed of family where everyone just gets along.



Start with the numbers first. Hosting 101 dictates that every guest and your own household members need a chair and ideally something to put their plate on when they eat. With this in mind, do a chair audit and if your home doesn’t have enough places for bums to sit, beg borrow and steal prior to the date, ideally from neighbours as you’ll have less hassle returning them.

Then on to the table. If yours is a little on the short side, consider buying a foldout for future occasions, or better still, get an extendable table. Trusty Ikea have a pretty great selection that will not break the bank or for cheap and cheerful foldouts, head to Officeworks, Bunnings or your closest camping shop.



Now, clean and clear away all clutter, which is the enemy of smaller spaces anyway so hopefully you’re already well organised in this regard. And don’t forget the fridge as in terms of food prep, you need to do as much as you can ahead of time and you’ll no doubt need fridge space for perishable dishes. And in order not to clutter the fridge buy or borrow an esky to keep all the drinks cold.



And don’t forget to have some fun shopping for festive tableware. Before you leave the house, look at what you have and decide on a theme. Will it be Christmas old school style or summer themed- or perhaps Hanukkah à la Australiana or straight out of Jerusalem? Make sure whatever you buy is quality over quantity as you’ll have nowhere to store too many baubles after the fact! We love Bed, Bath and Table and Adairs, and for something more uber, Papaya and David Jones.

And finally, make a list of what to do on the day so you don’t get overwhelmed. Work out what food needs to be prepared in the morning if you are having a lunch, then take note of Part 2 which is coming soon and will give you sure fire ways to avoid the panic prior to arrivals. Staging in the Silly Season provides a great to-do agenda for making you the Christmas Host with the Most! So until Part 2, best wishes from the Cramer Crew



Part 2 Coming soon – Staging in the Silly Season














Monday 4 December 2023

Why does Bellevue Hill top the charts as one of Australia's best long term capital gain suburbs?


A view from Bellevue Hill, "Bonnington" at 8 Victoria Road across Sydney Harbour

The past decade has been a whirlwind of change in the housing market across Australia. Despite the sharp downturn during the APRA-induced credit crunch between 2017 and 2019 and the recent steep declines, there are a handful of suburbs in the country that have shown incredible capital gain over the last decade. And among this illustrious list prepared by Michael Yardley (of Metropole Property Strategists), is the gorgeous suburb of Bellevue Hill.


Allala | 26-28 Cranbrook Road, Bellevue Hill, sold for $11.8m in 2019

It is not difficult to identify what makes this suburb so highly attractive. Firstly, home to many of Sydney’s rich and famous, the suburb is peppered with magnificent mansions, glorious established gardens and wide tree-lined avenues. And to add to the divine aesthetic, the elevation affords the homes with panoramic views across the verdant landscape and out to the sparkling waters of Sydney Harbour.


Murray Rose Pool (formerly Redleaf Pool), Double Bay

Another major drawcard in Bellevue Hill’s stellar capital gain performance is its Inner East location. The suburb is so close to the commerce and attractions of the CBD, a short drive to fabulous harbour beaches such as Murray Rose Pool (formerly Redleaf), Neilson Park and the lovely and less known beaches along the fantastic Hermitage Walk. Then also very close by are the world-renowned coastal beaches of Bondi, Tamarama, Bronte and Clovelly and expansive parklands of Centennial Park and the lesser known but incredibly captivating 38 acres of Cooper Park.


Kambala School, Rose Bay

The next attraction is the wealth of prestigious schools that are all located nearby. Cranbrook, Scots, Kambala, Kincoppal, Ascham and Moriah College have educated some of Sydney’s greatest minds and continue to be the education options of choice for so many parents prepared and able to invest in their children’s future. And not to be overlooked, the amenity of luxury shopping in Bondi Junction Westfield is a jewel in the crown of Sydney’s high-end retailing. With the finest international designer brands, luxury local labels, iconic department stores, a day to night dining and entertainment precinct and supermarkets to boot, Westfield provides for every shopping need and offers unsurpassed amenity to Bellevue Hill’s residents.


Bellevue Hill Village Shops

Then for charming village shopping, picturesque Bellevue Hill Village is home to deluxe homewares stores, fabulous cafés, a beauty salon, a marvellous old-style fruit shop, delicatessen and scrumptious bakery. And at the foot of this magnificent hill lies Double Bay Shopping Village and all its extravagant shopping spots and renowned restaurants and cafés.

If you are considering purchasing in the strong and sure Bellevue Hill market, please peruse the following exquisitely crafted properties in our stellar development, Splendour:


To book a private viewing appointment contact:

Emma Chappell
Head of Projects (Sales & Marketing)

emma@cramerproperty.com
Tel: +61 (0)404 769509