Wednesday, February 23, 2011

You have to wonder if 2011 is going to be remembered as ‘Mother Nature’s year’

She certainly has been laying it on us lately… perhaps trying to deliver a message that’s been long known, yet with little action taken.

This week our minds and hearts were captured once again as our New Zealand neighbours were rocked by another big quake. The devastation caused has been felt far and wide - our thoughts go out to all who have been affected.

Locally, this week, the real estate market has continued at its steady pace with open homes seeing a minor increase in buyer attendance. Confidence and commitment still seem to be traits that are a little hard to come by, and not only in buyers who are hesitant to put pen to paper. The banks are playing it incredibly safe right now, it’s been suggested that this is mostly due to confusion over their new legislation. We’ve seen a valuation carried out on a property where the buyer was seeking finance for just 50% of the purchased price and numerous settlements delayed due to a lack of action in discharging mortgages on titles. The sooner these new guidelines are clarified, the better!

Hopefully, at least, another rate rise won’t be on the table when the Reserve Bank meet this coming Tuesday. As always, there are opposing views when it comes to this topic, and rightly so given the many various elements that can impact on the final decision. In the latest report from CommSec’s Craig James, it appears at least one area is on the right track to hold rate rises at bay - Australian’s have learnt to be much more conservative when it comes to spending.

“Reserve Bank officials don’t know how long this ‘new conservatism’ will last. In fact no one does. But the longer that consumers actively shop around for the best deals and focus more on saving, than spending, the longer the Reserve Bank can stay on the interest rate sidelines.”

Now, on a different note, Adelaide Hills residents have had their fair share of concerns over the past year in regards to preserving the beautiful lifestyle that this region has to offer. Ann Ferguson, Mayor of the District Council of Mt Barker, joined us on ToopTV this week to discuss the now gazetted development plan which will cover the prime agricultural land that ‘could have been the salad bowl for Adelaide’. Log on to www.toop.tv to see the full interview and the way forward for local residents.

And if you’re looking for something to do this Saturday the 26th of February, then Goolwa & Hindmarsh Island are where you want to be! The 12th SA Wooden Boat Festival will be in full swing, but more importantly, the Women’s & Children’s Hospital Foundation Charity Home is going under the hammer at 11am. Located at Lot 206 Princess Royal Parade, Hindmarsh Island, on land donated by The Marina Hindmarsh Island with the added generosity of Systembuilt homes, the residence has been a huge hit with buyers, and with all the proceeds going to the foundation, we’re hoping for a great result!

Anthony Toop, Managing Director.
www.toop.com.au
© Toop Real Estate Group

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