January24-28 Australia play India in the first test match of the year finishing in a draw
February6 Reserve Bank increases rates another .25% - 11th rise in 5 years
21-24 The V8 cars hit Adelaide for the Clipsal 500 with Jamie Whincup crossing the line 1st
27 Festival Fever sets in with the start of the Fringe
March5 Another .25% interest rate rise from the RBA
7-9 WOMAdelaide Festival in the Botanic Park
24 The Olympic torch begins its journey from Athens to Beijing
April 3 Making SA Proud at the National Real Estate Awards. Toop&Toop take home the Innovation title for the 3rd year in a row!
24-27 Variety SA’s inaugural V2 Classic Bike ride raises over $225,000 for our kids in need
May8 Toop’s 23rd Birthday sparks a time of renaissance for the business. Toop HQ on Kensington Road is officially opened as Ian Darbyshire is introduced as CEO and Mandy Wurth as General Manager of Sales.
June30 Another world first as Toop&Toop become Female FriendlyTM Accredited
July11 Apple iPhone launched in Australia
17 The ‘Wild Wild West’ takes over Penny’s Hill Winery as the Toop team celebrate our annual awards
August8 Beijing Olympics commence on the 8.08.08 with a spectacular ceremony
14 Who was the real girl singing in the opening ceremony? Beijings ‘lip- synching’ scandal is revealed!
September3 Some mortgage relief at last as the RBA drop rates .25%
15 US Market Crash hits headlines across the world as investment giant Lehman Brothers file for bankruptcy.
October8 RBA drops rates by 1% - the biggest single decrease since 1992
10 Real Estate Industry Awards of South Australia – Toop’s take home 8 awards plus 2 inductions into the inaugural Hall of Fame
29 Customer Service Awards announced with Toop&Toop named National Winner Australian Service Excellence Award Small Business
November5 Another rate cut, this time .75% and Barack Obama wins US Presidential Election
6 Toop&Toop support inaugural Adelaide Fashion Festival on Norwood Parade
8 350,000 locals celebrate the festive season at the 75th Adelaide Christmas Pageant
10 Free seminar gives clients ‘The inside Story’ - Toop&Toop with Bernie Lewis Home Loans
December2 Australians return home following a week long airport siege by anti-government demonstrators in Thailand
3 Just in time for Christmas, the RBA drop rates by a further 1%
18 Toop&Toop Client Christmas Party
Friday, December 19, 2008
Last Tuesday the Reserve Bank slashed interest rates a further 1% bringing the RBA’s cash rate to a 6 year low of 4.25%, and if economist’s predictions are right…it won’t be the last.
With all of the reduction flowing directly to mortgage holders, through most banks dropping the entire 1%, it has effectively doubled the real impact of the past 3 rate drops.
This additional ‘cash on hand’ for many home owners will not only inject confidence back into consumers but will also work to increase recreational spending this Christmas, boosting our local economy and providing a long awaited reprieve for many retail owners. When it comes to property these significant decreases have the potential to turn the real estate market around from the poor sale conditions experienced this spring.
For First Home Buyers with secure jobs the outlook in recent history has never been this good! The combination of increased Government hand outs, plummeting petrol prices, record low interest rates that continue to drop and a huge increase in available properties, are providing a fantastic opportunity for entry into the normally challenging housing market.
Cashed up Investors are also sitting pretty thanks to an increased demand for rental properties. With the metropolitan vacancy rate dropping to a very competitive 1.07% in September plus a number of investment properties being put up for sale, tenants are finding it difficult to secure a home for the coming year. So if you’re a savvy investor snap up a property and place it on the rental market today to receive a steady return during 2009.
What’s to come in the New Year? Well to start with, the Reserve Bank is set to meet once more on the 3rd February 2009 and an additional rate drop of up to .75% is predicted to be passed down.
For more news as it happens in the world of real estate, keep an eye on ‘Theaddress’ and toop.com.au
Ian Darbyshire, CEO
© Toop Real Estate Group