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Your Home Is Your Safe Haven: Could COVID-19 Encourage More Renters To Purchase Property?

Author: SSRE Team

Now more than ever we will evaluate what is really important to us. Amongst the chaos and uncertainty, how can we work towards a secure future?  What is the right secure future for us?

There is something very secure about a good old fashioned brick and mortar investment.  

During difficult times it is comforting to return to a home you own. A safe place where you can cultivate your lifestyle and personality in the way that you choose.  Hang those precious memories, paint or wallpaper the walls – or not, it doesn’t matter, you can create your own style, your own sanctuary, your own safe haven.  Owning your own home fulfils fundamental needs as outlined in Maslow’s “Hierarchy of Needs” and for many, their home is a status symbol or a financial vehicle in which to grow wealth and success.

Driven by these fundamental human needs it is vital that we have a practical and financially viable plan to obtain these goals.

How do I know I’m making the right decision to go from renter to owner?

Research, then apply practical financially viable solutions. If you can afford to pay rent, chances are you can afford to pay a mortgage. Run the numbers. Get good financial advice, speak to a financial planner, an accountant, a bank manager and make a plan for the future.  Know what your commitment will cost not just mortgage payments but include stamp duty, rates, insurance and body corporate fees.

The Reserve Bank Australia (RBA) predicts a shortfall in housing (Financial Review, 2019).  With record low-interest rates, record first home buyers, population growth, high immigration* (COVID-19 restrictions will not last forever) and increased renters the data indicates that if you have a secure income that you should consider the following tips and purchase once this immediate unsettling time has passed. Yes, we are experiencing a pandemic with a recession looming but our economy is cyclic.

Buying a medium to long term investment

Over the past 30 years, Australian housing prices have increased on average by 7.25 % per year (RBA, 2015). Statistics historically tell us that provided you are buying a property as a medium or long term investment where you can choose your time to sell you will not lose.  If you are buying a short term prospect you need to do more to ensure a return on investment, such as the following;

* Australia’s population continues to grow and 231,937 people migrated from overseas in 2019 (Australian Bureau of Statistics, 2019).All these people need homes. Head to our website to read more and see the tips we recommend when buying;

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Sparking First Real Conversations With Neighbours

Author: SSRE Team

Ipswich couple Vicky and Siamak Mohajerin have lived in their family home, west of Brisbane, for 12 years.

Like many busy Australians, they had only ever exchanged the odd wave or nod to their neighbour out the back — mother-of-six Teressa Leedie — until the coronavirus pandemic began to spread.

“We were at home self-isolating and we realised we don’t know a lot of our neighbours,” Ms Mohajerin said.

“We thought they might be in need, so we put gloves on, got a pen and pad, and took a walk on Sunday afternoon, and gave our neighbours our contact details.

“[We] just told them if they need anything at all, or needed us to go get something for them, we would go do that.”
Mr Mohajerin said the couple had “never met or spoken to Teressa”.

“We got a really nice response,” he said.

Ms Leedie said it was “really uncommon for people to reach out this way”.

“Usually people stick to themselves,” Ms Leedie said.

“It was really overwhelming and heartwarming to know you’ve got neighbours, strangers, in your street who are willing to support us in this time of need.” Mr Mohajerin recommended other people to reach out to others — whether online or over the fence — saying it had given him and Ms Mohajerin something to look forward to.

“I’m so glad we did it,” he said.

“One household suggested we have a street party when this is all over, so we can’t wait — it’s going to be huge.”

Meet The Team- Noune

Author: SSRE Team
Noune Harutyunyan

Nouné Harutyunyan is a licenced real estate agent, business owner, and Justice of the Peace. 

Nouné has been a key part of the Silver Service Real Estate fabric for many years now, she has a rich heritage and culture originally from Armenia.

Nouné is a no-nonsense and straight talking real estate agent, and is fluent in both Armenian and Russian as well as English (pronounced “eeeeenglish” by her). Do not be fooled by her seemingly hard shell though. Nouné works tirelessly and passionately, not just to maximize the value of the property entrusted to her. Her commitment is to also nurture and retain quality, long-term relationships with valued tenants. Her leadership of the agency Trust Account is something that she also takes very seriously, understanding the immense “trust” that comes with the position.

Nouné began her real estate career in 1995 as a sales cadet, gaining early experience in the inner city suburbs of Melbourne, across Glen Waverley, and east to Templestowe. Her passion for real estate has elevated her quickly through the buyer, manager and executive ranks to become an Executive/Senior Property Manager and co-Sales Agent with Silver Service Real Estate. Always happy to provide advice, appraisals and guidance she can be contacted on;

Mobile

0412 111 601

Email [email protected] 

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‘Great Cause For Optimism’

Author: SSRE Team

Popping next door to borrow a cup of sugar is not common these days. In fact, research shows less than half of Australians actually know their neighbour by name. Relationships Australia national executive officer Nick Tebbey said coronavirus was changing that, with the pandemic prompting neighbours to reach out to one another for support as social-distancing measures increased.

“It’s part of the Australian psyche and we see it in times of crisis like the bushfires and the droughts,” Mr Tebbey said.

“Neighbours and communities want to make sure the most vulnerable people are looked after.

“The difference now is we’re all vulnerable with this pandemic.

“I think there’s great cause for optimism to see all these amazing stories of neighbours doing things that are really about building connections with those around them.

“Every day we’re seeing examples of that all over the country.”

Mr Tebbey said “online neighbourhoods” were also expanding in response to the virus, connecting those in distant suburbs, interstate or even overseas.

“We’re seeing a huge uptake of people setting up WhatsApp and Facebook chats to communicate with their immediate neighbours,” he said.

“Technology is the great connector we need right now.”

Coronavirus: Melbourne Suburbs Set For Rapid Recovery After Pandemic

Author: SSRE Team

Melbourne’s property market is set for a rapid recovery once COVID-19 restrictions start to ease, with vendors already preparing to list once the dust settles.

Popular family neighbourhoods, blue-chip suburbs and Victoria’s up-and-coming regional towns are tipped to bounce back the fastest from the unexpected property downturn.

Propertyology director Simon Pressley said strong market conditions before the pandemic would help the city recover in as little as six months. “We’ve got the lowest interest rates in most Australians’ lifetimes and we’ve only got to cast our minds back about six weeks ago to see clearance rates going through the roof and double-digit price growth,” Mr Pressley said.

“The same reason it was happening then is why it will happen again once we come out of our cocoons.”

He said three years of strong median house price growth after Australia’s recession in the 1990s and the Global Financial Crisis suggested the market would rapidly rise again once shutdown restrictions ended.

Propertyology research also showed booming towns including Bendigo, Warrnambool and Mildura would remain fairly bulletproof during the crisis, with low rent supply and high job growth.

Narre Warren North, Box Hill and Blackburn were among suburbs that had the largest price gains between the GFC and coronavirus, according to realestate.com.au.

Chief economist Nerida Conisbee said they would be some of the areas that recovered fastest due to their owner-occupier appeal.

“Melbourne’s middle ring will do quite well … especially if you’ve got a house in a location that’s connected to good schools, public transport and not too expensive,” Ms Conisbee said.

Read more. https://www.realestate.com.au/news/coronavirus-melbourne-suburbs-set-for-rapid-recovery-after-pandemic/

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Silver Linings: In This Chill Why Not, Cosy Up For A Cuppa And A Good Book! With All The Missing Time We Now Have Back!

Author: SSRE Team

Things are on the whole looking up for us here in Australia, from recent Government reports it appears things are heading in the right direction, however it isn’t a time to rush out and celebrate. Instead take some peace from the situation and as the days are getting cooler here in Melbourne why not dust off the old bookshelf, grab a quiet corner to enjoy some on page adventure from a wonderful novel and sip down a cup of hot chocolate! 

It like a winter vacation in the comfort of being home. 

We would love to hear more about what you are enjoying? What is your Silver lining to the COVID-19 situation?

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Silver linings: Classes To Take At Home

Author: SSRE Team

Performance Medicine

Your health doesn’t take a holiday whilst we are participating in social distancing.

Performance Medicine is a local physiotherapy business in Southbank, they have a range of classes they are offering for anyone at home wanting to keep fit and active. They now offer Virtual Fitness and Wellbeing classes to keep your body and mind fit and engaged. With almost 20 classes per week they can cover all your fitness needs and if you require special attention they can book you in with their Sports Doctor or Physiotherapist.

  • Yoga Flow
  • Yin Yoga
  • Matwork Pilates
  • Functional Training
  • Barre

Their weekly classes are 30 minutes and are run by Performance Medicine’s Physiotherapists and Myotherapists (Melbourne’s best!). The therapists will work out with you in REAL TIME!

Check out their timetable below.

Unlimited Classes per Week – $35

https://performancemedicine.com.au/classes/virtual-fitness-wellbeing-classes/

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It is predicted the Real Estate Market will come out unscathed.

Author: SSRE Team

We thought it important to share this latest update by the biggest industry publisher Real Estate .com.au (REA Group). 

The coronavirus pandemic is having a catastrophic effect on Australia’s economy. While it’s still too soon to tell what damage has extended to the property market, it will likely come out unscathed.

Online auctions make up a third of previous auction market

The number of scheduled online auctions are far fewer than what we’d normally see scheduled on realestate.com.au for on-site auctions. The industry is still transitioning to new ways of selling amid COVID-19, so we might see a bigger uptake of online auctions as it becomes the new norm.

It’s important to remember that only 14 percent of properties go to auction, so auctions really are only a small proportion of the market. Last weekend, online auctions made up 5.8 per cent of the overall market. While clearance rates were used as the main form of auction data pre-coronavirus, clearance rates are really only a good indicator of performance in premium Sydney and Melbourne suburbs, where the majority of auctions take place. Right now, the clearance rate is a redundant indicator partly because so few properties are now going to auction, but also because we’re still in a transition phase and learning how best to sell property via auctions in a fundamentally different way.

As with all disruption, it takes time for new behaviours to replace old behaviours. At this stage, it’s too early to tell what the eventual uptake of online buying and selling will be. Post pandemic, I do think on-site auctions will come back, but no doubt the industry will have evolved.

How COVID-19 is affecting property around the world.

It is still too early to know what will happen to pricing in Australia as a result of COVID-19 and we likely won’t be able to analyse data in a meaningful way until May. Until then, we can look at the worst-case health scenarios playing out in Northern Italy, New York, the UK and China to understand what is happening to property in severe lockdowns.

Markets around the world that went into COVID-19 strong are faring better, and Australia’s property market was well into recovery in the first quarter of 2020, which is a positive sign.

It’s also important to note that Australia is currently in a very different situation with much lower rates of death and infection, and a far less severe lockdown. Although, recent changes to inspections in Victoria will immediately and significantly impact the local economy, property industry and general community.

Published on the 12th April Nerida Conisbee and team released this market update;

https://www.realestate.com.au/news/property-market-update-the-covid-19-ripple-effect/

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Coronavirus (COVID-19) updates regarding Sales and Inspections

Author: SSRE Team

Restrictions on indoor gatherings

The Stay at Home Directions (No 3) dated 7 April 2020 (SAHD) restrict the number of people who may gather in indoor spaces to two people, providing that, unless an exception applies, a person must not enter a residence unless:

  • no other person is in that space; or
  • only one other person is in that space; or
  • more than one other person is in the space, but all of those persons ordinarily reside at the same premises as the person.

Inspections for lease and sale

Clause 11(3)(c) of the Stay at Home Direction (SAHD) allows a person to permit another person to enter their place of residence if it is necessary for the second person to enter the premises for the purpose of their work. Therefore, a person may permit an estate agent to enter the person’s place of residence to allow the estate agent to undertake their work related to the place of residence.

Inspections of occupied properties

Clause 11(3)(d) of the SAHD allows a person to permit another person to enter their place of residence if the second person is entering for the purposes of attending a private inspection of the premises for the purposes of a prospective sale or rental of the property.

Private inspections of an occupied/tenanted residential property are permitted to be organised. An inspection is only permitted where an estate agent and one other person (the person for whom the inspection is organised by private appointment) are present at the premises.An inspection where an estate agent, the prospective tenant/purchaser and a resident of the premises are all present is not permitted. In this case the resident of the premises will have to leave the premises, and should do so for a reason permitted under the SAHD, namely, to obtain necessary goods or services, for care and other compassionate reasons, to attend work or education or to exercise. Those in isolation or quarantine should not leave their homes.

Inspections of vacant properties

Private inspections of a vacant residential property are permitted to be organised. An inspection is only permitted where an estate agent and one other person (the person for whom the inspection is organised by private appointment) are present at the premises.

Inspections of tenanted properties

Inspections by vendors or landlords

A vendor or a landlord wanting to enter a property to inspect it is permitted to do so if they have served a valid notice to enter the premises under the Residential Tenancies Act 1997.

Inspections by estate agents

An estate agent is permitted to enter residential premises to exercise lawful duties as part of the exercise of their occupation, including to inspect a property on behalf of a landlord or vendor. Restrictions on indoor gatherings do not apply to an estate agent entering an indoor space where it is necessary to enter a property in the exercise of their occupation. Accordingly, an estate agent may enter premises to conduct an inspection on behalf of a landlord or vendor irrespective of the number of residents of the property present at the time.Estate agents, vendors or landlords conducting any inspection should ensure compliance and high levels of hygiene. See the Department of Health and Human Services (DHHS) information on appropriate cleaning and disinfecting.

More activities may be restricted as the coronavirus (COVID-19) progresses. Estate agents should monitor the DHHS website for up-to-date information.

We encourage you to reachout to us via [email protected] to discuss your particular situation and to read further information please head to Consumer affairs victoria on the below link.https://www.consumer.vic.gov.au/resources-and-tools/advice-in-a-disaster/coronavirus-covid19-and-your-rights

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Silver linings: how to stay positive during the coronavirus crisis

Author: SSRE Team

These anxious and unusual times bring unforeseen difficulties. But the best of human nature can rise to the challenge.

With all the tragic things that are happening in the world as a result of the coronavirus, now might seem like an unusual time to talk about being positive. Yet staying positive is a core ingredient in the recipe of successful coping in a crisis.

Now, more than ever, is the time for us to be proactive about creating small moments of happiness in our days, given the findings in psychology research that positive emotions help us to undo the negative effects of stress. Here are a few really practical things you can do to foster positive emotions;

  • Savour the small moments: Even during lockdown you still have many small moments to savour. The smell of coffee, the feel of the warm shower on your back and so on. When you stop to take in these moments, rather then let them rush by on automatic pilot, you are giving your brain a chance to process the pleasure, which boosts your serotonin – the feel good neurotransmitter that helps elevate your mood and make you feel calm.
  • Strengthen your connections: for those of us in family lockdown, now is the opportunity to spend quality time with our loved ones. Take the time to hug your kids or partner, look them in the eyes, have long conversations with them – all of these gestures promote closeness and also boost your oxytocin, which is a hormone that bonds people and also has a calming effect on your body. When your oxytocin levels spike they tell your body to switch off cortisol, the stress hormone.
  • Look for the good in others: These types of crises can bring out both the worst and the best in human nature. This week there were two Youtube clips that went viral in Australia about toilet paper. One was of three grown women fighting in Woolworths over a packet of toilet paper. The other was two young children dragging a large cart of toilet paper behind them and stopping at the homes of elderly people in their neighbourhood to give them a roll. I like to think that the best in human nature is rising to the coronavirus challenge. Philanthropists are donating money to scientists to find a cure. Doctors and medical staff are working overtime to help sick patients. Neighbourhoods are putting together care packages for people who are sleeping rough. People are posting positive messages on social media. Friends from across the globe reaching out to each other. When we tune into these positive and pro-social aspects of the crisis, we are united in hope.

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Silver linings: Classes to take at home

Author: SSRE Team

The Yoga Creative

At home whilst we are all participating in physical distancing, the team at The Yoga Creative have put together a range of Digital Classes, for you to do in the comfort of your own home.

The Yoga Creative is based in Fitzroy and are specialists in a wide variety of Yoga- they fuse together art, Yoga and well being. These digital classes offer guided meditation classes, relaxation classes and Gita Yoga, Hatha Yoga, Yin Yoga, Vinyasa Yoga, Restorative yoga for any level of practice.

The Yoga Creative had provided a Covid-19 digital program offering unlimited $10 a week classes with a timetable to suit anyone working from home or those on a break. It’s the perfect time to connect with self again and keep your immune system at it best. 

  • Gita Yoga
  • Yin Yoga
  • Hatha Yoga
  • Restorative Yoga
  • Yoga Nidra
  • Meditation
  • Progressive Relaxation
  • Vinyasa flow

These classes range from 30 minutes and up to an hour, check out their timetable below.

Our Classes

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STOP FOOD WASTE DAY APRIL 29TH 2020

Author: Mariam McDonald

We are all behind stopping the food waste epidemic the world is facing. On April 29th, let’s all take a good look at how we can better use food and waste less food.

 There are a variety of recipes you can use to help you plan how to reduce food waste. One we love is from our favourite chef Guy Grossi – Panzanella salad.


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