An Update From Chris Christofi
House prices in the major markets across Australia have defied the dire predictions of the doomsday forecasters. Despite the negative forces brought by the coronavirus lockdown, including evidence of higher vacancies and declining rents in some markets, prices have held up well. In March and April, the national average situation was a small rise in prices in each month, with most capital cities and most state regional markets recording increases. In May there was a marginal decrease in the national average situation, but nine of the 15 market jurisdictions recorded stronger prices.
A combination of factors have underpinned home values, including the strength of markets going into the shutdown period, the low level of vacancies and listings, the stimulus measures by state and federal governments (including the JokSeeker and JobKeeper payments), the strength of most households with their mortgages (with most well ahead on their monthly repayments) and the mortgage holidays offered by lenders.
In the past week we have been inundated with calls in relation to the Federal Governments Home Builders Grant. HomeBuilder provides eligible owner-occupiers (including first home buyers) with a grant of $25,000 to build a new home or substantially renovate an existing home. HomeBuilder will assist the residential construction market by encouraging the commencement of new home builds and renovations this year. For a full breakdown of the grant, please click here. If you would like to discuss the many ways this grant could be beneficial to you or a family member, please feel free to book a call with Reventon.
I hope you enjoy this months newsletter, with the constant changing of finance policies, government stimulus plans and these new grants, please feel free to contact us any time should you need any additional information.
Founder & CEO
Click The Image Below to See June 2020 Newsletter
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Survey Shows Property Investors Are Not Intimated By Market Conditions
Seven out of ten property investors say this is a good time to buy residential property. A new industry survey indicates that most believe it is business as usual with real estate investment.
The Property Investment Professionals of Australia (PIPA) and the Property Investors Council of Australia (PICA) survey in mid-May found that 72% of investors were confident about the market’s short-term prospects – down only 10 percentage points from an investor sentiment survey conducted in September 2019.
The survey results, which attracted 1,877 responses from across the nation, also found that the coronavirus crisis had not changed the investment intentions of 80% of investors over the next six or 12 months.
PIPA Chairman Peter Koulizos says the survey showed that investors are overwhelmingly optimistic about the property market over the next year.
“Nearly 60% of respondents indicated that the pandemic had not made them change their investment plans over the next six months, with a further 18% saying the crisis had actually made it more likely they would purchase a property over that time frame,” Koulizos says.
“The survey results also showed about 30% of investors were more likely to buy a property in the next six to 12 months because of the pandemic. It’s clear that record low interest rates as well as the resilient nature of property during turbulent times are inspiring investors to continue with their plans.”
While the survey found that 36% of investors had experienced a loss of income, outside of rent, during the pandemic, the vast majority, at 91%, had not applied to pause their mortgage repayments.
PICA Chairman Ben Kingsley says only a small percentage of respondents, around 5%, indicated the crisis had made it more likely that they would sell a property over the next 6-12 months.
“What’s more telling is that more than 30% said they were less likely to sell over the same period because of the pandemic, with 63% indicating no change at all to their plans,” Kingsley says.
CHRIS CHRISTOFI – VINNIES CEO SLEEPOUT 2020
Who are we as humans if we ignore the suffering of others?
2020 marks Chris’ 3rd year of supporting Vinnies Australia CEO Sleepout. After raising $41,185 in 2018 & $60,564 in 2019, Chris has set an ambitious challenge this year to raise $80,000. This year due to COVID-19, the CEO sleepout will be a virtual sleepout. However, Chris and his wife Billie have decided to sleep on the streets for 2 nights (18th & 19th June) to raise awareness.
To kick things off, Chris & Billie have personally donated $20,000 and Reventon has committed to matching 75c to every dollar raised.
There are a number of ways that you can support our efforts. One of which is to donate directly via this link.
You can also purchase a copy of Chris’ Amazon Best Selling book “Your Path to Wealth – Brick by Brick” where 100% of proceeds will also go to the charity. You can purchase a copy here.