Why Redfern is fast becoming Sydney’s place to be

 

With its chequered past, Redfern can easily be overlooked in terms of Sydney’s places to explore. But come for a day and you will quickly become a Redfern convert, won over by this eclectic suburb’s individuality, thriving culture, bespoke boutiques and outstanding bar, restaurant and café scene.



Feel like a delectable bite to eat? Try Three Williams, Scouts Honour, Little Evie, Henry Lees and Bean and Berry for the quintessential café experience; indigenous-owned Tin Humpy for house-made pastries and hearty breaky bowls; Flyover Fritterie - Sydney’s first vegan fritterie and chai bar; and vibrant Vietnamese at Yellow Fever.

 

  

Explore the globe at these unforgettable restaurants - remarkable ramen at RaRa, La Grillade and Bistro St Jacques for French, Ron’s Upstairs for cool Mediterranean, La Coppola for pizza, Kepos & Co for marvellous Middle Eastern and Juan Bowl and Tea for Japanese. Then wrap it up with a sensational sweet treat head to Ciccone And Sons, where you can step back into the 50s and enjoy exquisite homemade fresh gelato.



For the best bar scene outside of London, go on the ultimate pub crawl from Bart Jnr, Arcadia Liquors, the eccentrically names Bearded Tit, Atomic Beer Project Brewery, The Dock, Hustle and Flow Bar, Noble Hops Bar, Misfits and the super cool DD’s cocktail and dining room out the back of The Sunshine Inn. And if you have a taste for gin, don’t miss Moya’s Juniper Lounge.

Stock up on gorgeous homewares at the DEA store, where you will find Japanese influenced earthenware to beautify your table and ceramics from Tom Dixon.

 

And if you are a fan of mid-century furniture, head to Rudi Rocket for super cool vintage pieces, then make your way to the gargantuan Mitchell Road Antiques for the best antique store in Sydney. Or for something utterly different, head to Redfern Convenience Store – “The Greatest Convenience Store on Earth.”

 

For exemplary art, check out the Vandal Gallery, showcasing some of the best emerging contemporary artists in Australia. 

Then pop across to 107 Projects, a cool not-for-profit community art space that’s home to loads of events, exhibitions and workshops. Then be blown away at Carriageworks, a multi arts precinct that offers weekly farmers’ markets, festivals, fashion shows and global art exhibitions. Finally head to the Aboriginal and Pacific Art Gallery for glorious indigenous paintings and sculpture.

 

Want some quality threads at a fraction of the cost, pop over to nearby Assembly Label Surplus Store. Then for an old school barber experience, visit Tommy J Barber. For all things Zen, head to Humming Puppy, a New York loft-style yoga studio. For the place that was voted Best New Independent Gym, get fit at Lift Performance Centre. Follow up with a dip at the outdoor heated Prince Alfred Park Pool, where you’ll also find basketball and tennis courts and outdoor fitness equipment.

And if you are so impressed you’d like to make the move on a permanent basis, check out our exquisite apartments on the verge of Redfern at Surry Hills Village.

The realities of inflation, interest rates and how best to ride economic waves

As 2022 has unfolded, we have all seen the headlines regarding Australia’s inflation rate and many of us listen to the RBA’s periodic announcements with bated breath. Almost every Australian is feeling the pinch of the rising cost of living as the consumer price index soars. Accustomed as we were to the historically low interest rates, we’ve responded with everything from reservation to alarm as we’ve witnessed three consecutive rate hikes in the RBA’s efforts to curb inflationary pressure.

But what we are not remembering is that an official cash rate of 1.85% is still ridiculously low from a historical perspective. Some of us have been around long enough to remember the rates of the early 1990s, where we paid home loan interest in the high teens. And inflation and mortgage rates have continued to fluctuate all the years before and after this time.

Most of us have a decent idea of what has caused inflation to soar and much of the blame can be squarely laid on the Covid-19 pandemic. This, along with the Russian invasion of the Ukraine and the ongoing rain and flooding throughout Australia have conspired to wreak havoc with supply chain issues, and where there is heightened demand and under supply, inflation is sure to occur.

In response to the sudden inflationary pressures, the RBA has reacted quickly with its most aggressive tightening cycle in history. And whether we like it or not, lifting the cash rate to bring inflation down to its 2-3% target band is the most responsible course of action.

So what can we do to lighten the load of the increasing cost of living? Where home loans are concerned, your best bet is to shop around. Arm yourself with the knowledge of which lending house is offering the best rates out there and call your bank. Never be afraid to pick up the phone and negotiate as invariably your bank will come to the party and offer you a better deal if they think they are about to lose your business.

Be in it for the long game. As most mortgages are 25 to 30 years, much can happen to rates over this time frame. Future proof by locking in a rate that will prevent you from losing sleep every time the RBA is about to make an announcement. And remember that the flip side of inflation is that the economy is growing and people are spending. The trick is to keep any interest rate rises on the slow and steady path, which is exactly why the RBA is acting to curb any further rapid increases.

Toga Awarded Very High ICert Rating By Independent Government Backed Body

Cramer Property is excited to announce that TOGA, developers of Surry Hills Village and Wicks Place, has just been awarded an outstanding 4.5 star rating under the Independent Construction Industry Tool (iCIRT). This exceptional ranking is testament to TOGA’s reputation as one of Australia’s most experienced and trusted fully integrated property developers. 

iCIRT uses a five-star system to rate builders and developers on their capability to deliver apartment buildings, which must meet the minimum average of three out of five stars or above to be deemed "trustworthy".

TOGA’s 4.5 star rating is a testament to TOGA’s reputation as one of Australia’s most experienced and trusted fully integrated property developers.

 

Generally speaking, purchasing a home is likely the biggest single financial investment we will make in our lives. And when buying off-the-plan, we have previously only had a glamourous display suite and brochure to reflect the property we will be acquiring. But now with this new independent rating system, iCERT in place, we are able to far more accurately see the developer’s credentials. And this is doubly so, as since the system started a year ago and is at present voluntary, you can be sure that any developer who puts themselves forward for this type of rigorous independent assessment has great confidence in their ability to deliver exemplary properties with integrity. 

For many of us, these rating systems can seem unimportant but once we understand exactly what is being rated, by whom and why, we can see that an iCERT rating is an excellent reference for homebuyers when choosing an off-the-plan property. This rating helps purchasers identify developers who have outstanding credentials through an unbiased and independent assessment. Any developer who scores above 3 stars is deemed trustworthy and the higher the score, the more this adds to their credentials and abilities. And a high rating allows a purchaser to buy with full confidence and transparency. 

This independent construction industry ratings tool has been created by data analytics house, Equifax, backed by the NSW Government. Equifax meticulously analyse each developer’s full financial and development history prior to awarding the accreditation. 

The system works by drawing on thousands of rating points endorsed by NSW Fair Trading including the following:

• developer’s credit ratings

• the relationships between development counterparties

• the entity’s history in corporate dealings

• history of the nominated directors

• Additional objective evidence to reflect the developer’s capability to deliver good quality buildings

Given that TOGA has scored an enviable 4.5 star rating, purchasers can have full confidence that their developments reach a significantly high level of quality and integrity across the board.

Why Rental Prices Are Rising So Fast

If you are looking for a property to rent at present, you will be confronted by a lack of stock and rapidly rising prices. Conversely, if you own an investment property, it is becoming more and more of a landlord’s market, and you will be seeing your return-on-investment flourish. 

So, what are the chief causes of rising rent? Primarily, supply is outweighing demand. A considerable number of would-be first home buyers have been priced out of the market recently and heavily affected by the rising interest rates. And sadly in some cases homeowners who locked in a property at the historically low interest rates, are no longer comfortably able to service that loan, inducing them to rent until interest rates stabilise.

Airbnb listings as proportion of rental dwellings in Sydney Photo: supplied

Another factor contributing to the short supply of rental properties is the Airbnb effect that has attracted many long-term rental properties to transition to short term rentals. Although the increased maintenance required to sustain an Airbnb property is not attractive to all investors, there are still enough out there who have withdrawn their long-term rentals, creating an even greater shortage in supply. 

Add to this, the number of homes that were purchased by first home buyers (see previous blog here) over the last ten years, assisted by increasing state and federal government incentives, has left the rental market under even more pressure from a supply perspective.


There has also been a resurgence of international travellers and students who want to live medium term in Australia. Many wealthy parents of international students are once again seeking high quality rental properties in areas that are well connected transport wise, have multiple local amenities and are reasonably close to universities placing further strain on supply (see previous blog here).

Finally, with the escalating prices of the Sydney real estate market across recent years, many landlords chose to sell their rental properties to homebuyers, and capitalise on the record high property prices, further draining the market of rental property. 

All these factors combined have affected the market considerably, meaning that what is out there now is snapped up quicker than ever due to high demand and scarcity of product. However, if you are an existing investor, looking to invest in your first rental property or add to your existing property portfolio, things are looking pretty darn good. 

Cramer have a large selection of apartments that each bear the ideal investment property fundamentals – incredible location in some of Sydney’s most popular suburbs, award-winning architects, impeccable design, premium build quality aimed at longevity, fabulous finishes, great development facilities and some of the best restaurants, cafes, bars and boutique shopping in Sydney. See below for intrinsically rentable apartments…

See more here

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The Cramer Guide to The best places to go and things to do in Marrickville

To learn more about Wicks Place and receive this as a PDF email emma@cramerproperty.com 

Surry Hills Village: ‘Why I bought a penthouse off the plan during a pandemic’

Ask Mary-Jane Salier — known simply as ‘MJ’ — why she and her husband, Kris Gale, have bought a penthouse off the plan in the Surry Hills Village development during a pandemic and she’s matter of fact.

“Yes, it’s a tricky time, but I’m an optimist at heart,” she said. 

 “TOGA [the developer] does have an excellent reputation for delivering a quality product and I feel as though we know what we’re getting.” 

And MJ, who leads the international regulatory team for US-based communications company Verizon, and Kris, who presents Fire Up! on FBi Radio, aren’t the only “optimists”. 

The original eight penthouses sold out in record time*. But we are pleased to introduce the last remaining penthouse has been re-released by the developer. Available now (click to view)

*This original article has been abridged & updated with current 2022 information

Make It and Create It in Marrickville

Mulga the Artist for Perfect Match

The last few years of lockdowns and isolation periods have taught us a great deal about hobbies and activities. Many people have chosen to use this slowdown positively to learn some new skills. Marrickville is a hub of arts and creativity with a variety of creative activities to explore.


There are so many artist studios located around Marrickville that the council runs the Creative Trails annually in August – go along to see art being made and peek into artists studios in your local area.



Many of these artists and craftspeople also teach their crafts from their private studio spaces. Why not learn Linocut Printmaking with Maggie Stein, Drawing and Painting for Beginners at Scratch Art Space and Silversmithing at Squarepeg Studios to name just a few.





For all-round creativity, Makers Space in Gerald Street hosts a huge array of activities from ceramics, metalwork, carpentry and jewellery making. This large workshop space houses a collaborative of artist studios and can offer membership plans (like WeWork) to access facilities to work on your own projects.



Located in the heart of the recently renovated Marrickville Metro, Hypmotive Hub is a one-stop shop for locally made artisan gifts. They also host a monthly market (next one is Saturday 13th August). It’s also a teaching space for Pottery Workshops where you can learn to craft the perfect vase for your stylish home. It’s not just all for adults - if you have a little one in your life, you can book a Kids Birthday Party and let your little ones get creative with clay.




Lil’ Crafters is another great location for those with younger kids. Based in McNeily Park near the Marrickville station, it’s a craft and messy sensory play space for babies to preschoolers. Everything is provided so you can enjoy getting creative without having to trash your own living space.



If you want to soak up the arts without getting your hands dirty then you may want to check out the council organised project Perfect Match - a walking tour of public Graffiti Artworks around the Inner West. 

Head to Camelot Lounge at the end of your tour for a refreshing beer, soak up the quirky atmosphere and decor and hear some live music. They also hold life drawing sessions with a burlesque twist at the Camel Arts Club every Wednesday. 




This is just a selection of the Creative and Artistic things on offer within walking distance of Wicks Place. Contact Cramer today to get your FREE Guide to Marrickville for more fun things to do.

Great News For First Home Buyers

New financial year brings even more federal government support for those buying their first home.

The Australian Federal Government has ushered in an unprecedented level of support for first home buyers this new financial year. On July 1, the Federal Government opened up 40,000 new places under its First Home Guarantee Scheme. The newly appointed labour government has also announced a Help to Buy shared equity scheme, where it will help eligible first home buyers by contributing up to 40 per cent towards the purchase of a new home.

Administered by the Federal Government’s National Housing Finance and Investment Corporation (NHFIC), the New Homes Guarantee Scheme is open to individuals earning up to $125,000 a year or couples earning up to $200,000 who are looking to purchase their first home. Under the scheme, first home buyers can apply for a loan through one of the scheme’s 32 lenders for the purchase of a property in Sydney worth up to $900,000.



Home buyers usually are required to pay lenders’ mortgage insurance (LMI) if they purchase a property with a deposit of less than 20 per cent. But under the scheme, the NHFIC guarantees up to 15 per cent of the value of the property, meaning approved buyers only need to pay a 5 per cent deposit and avoid paying costly LMI insurance.

The number of places under the scheme has now been expanded from 10,000 to 35,000 a year. An additional 5,000 places are open to single parents who will only be required to pay a 2 per cent deposit towards the purchase of a property.



The Federal Government says its new Help to Buy scheme will see eligible first home buyers in Sydney save up to $380,000 on the purchase of a newly built home or apartment. Open to 10,000 applicants a year, the scheme will see the Federal Government contribute 40 per cent to the purchase of a new home or 30 per cent to an existing home.

Successful applicants will only require a 2 per cent deposit towards the purchase of a property worth up to $950,000 in Sydney, again removing the need of costly LMI insurance. To be eligible for the scheme, applicants must earn less than $90,000 a year or $120,000 for couples. Homebuyers are not required to pay any costs related to Federal Government’s share in their property, significantly reducing the costs of their mortgage.



And don’t forget the First Home Super Saver Scheme - this enables first home buyers to build a home deposit inside their superannuation accounts by up to $15,000 a year or $30,000 in total. The First Home Super Saver Scheme effectively allows first home buyers to build a home deposit quicker given their extra super contributions are taxed at the concessional rate of 15 per cent. Buyers can then withdraw the savings when they are ready to buy their first property. The key requirement is that applicants must live in their home for at least 6 months in the first year after purchase or construction.



So if you are near being able to realise your first home dream, check out Cramer’s incredible properties below:

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