Thursday, January 22, 2015

The Great Australian Dream

As we celebrate Australia Day this long weekend, I can't help but think how special it is to be in the business of helping people achieve 'The Great Australian Dream'... Home ownership. 

We are so lucky to live in Australia for so many reasons. One of these reasons we see in the real estate business is the relative affordability of residential property, and the ability to own land outright... which Australians often take for granted. This might seem odd, but being able to actually buy a property and own it indefinitely is not something everyone in the world has the luxury of. 

When I worked in real estate in London, this concept took a bit to get an understanding of. I was selling 'Fixed Leasehold' properties to people where the value of a property was not just determined by its characteristics and location, but was impacted by how long the leasehold on the property remained to run. For example, if a property only had 20 years left on the lease it dramatically impacted the value versus a lease of 100 plus years. 

As an Australian, the idea of buying a house and knowing that technically it still wasn't 100% yours was something I struggled with. This is not just 
common in the UK. Fixed term 'ownership' is common in other countries like in China and India 
as well. My experience in the property market in the UK helped me realise how lucky we are in Australia, where we have the opportunity to pass property down through generations if we choose. 

So on Australia Day, think about this... with interest rates at the best levels we have seen, and with Adelaide having one of the most stable property markets globally, and affordable, why not go after The Great Australian Dream? 


Many are! In the first two weeks of January Toop&Toop experienced 146% more buyers in the market than the whole month of December. Last weekend alone there were 992 buyer groups out at Toop&Toop inspections. This is an incredible number of people looking at property right now!

We have 135 inspections this long weekend, 28 auctions scheduled over the next two weeks of January and another 23 auctions already scheduled for the first two weeks of February! Jump on board and just go after your dream.  

I understand firsthand how tough it is for buyers looking for property right now. I had been looking for a place since August last year, and was on the buying roller coaster... the ride that while you're waiting to hear back on an offer you've submitted, you get excited thinking of all the things you want to do to the new home... only to find out your offer was unsuccessful... or going to an auction feeling confident that 'this is the one'. I was even speaking to our finance team (Funding Options) and they helped me analyse my situation to make sure I was getting the best financial deal which could then potentially increase my property budget... I was getting quite disheartened but eventually I found my new home the day before Christmas Eve... and ironically, I settled on the property yesterday, on Australia Day weekend!

There is no denying it, it is a hot market with a lot of competition out there! Legally I couldn't buy anything Toop&Toop were selling and I couldn't utilise our technology because of this – but you can. We have a VIP service for buyers to help them with their search which is different from the industry property alert information you sign up for. Our VIP service gives buyers access to Toop&Toop properties which are not yet visible to the public. Sign up to get alerts direct to your inbox instantly, daily or weekly depending on your preference. This service is not designed to SPAM people, it's designed to give serious buyers a head start by letting them know what's coming onto the market before the public find out. Register as a VIP by visiting www.register.toop.com.au 

So as I start to unpack this Australia Day weekend, and settle in to my new home, I know I will be reflecting on just how lucky we are to live in a country where we have the ability to own our own piece of Australia and just how lucky I am to be working in an industry where I get to help people achieve their dream every day! 



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