Century 21 Armstrong-Smith hosts an information night to empower Australians for real estate success
SYDNEY, AUSTRALIA / ACCESSWIRE / July 17, 2024 / The great Australian dream is remarkably resilient. Auction clearance rates in Sydney have maintained a percentage in the high 60s across most of the year, despite rising prices and the unrealised promise of mortgage rate cuts. For 59% of Sydneysiders, that dream is home ownership, while 30.4% call a rental property home. The dream, whether it's owning your own home or building a portfolio of properties, remains strong. Some people are curious about how to achieve it, some are interested in enhancing it and some are frustrated by not being able to find it.
Showing the buoyancy of the Sydney and national market, for example, one of Century 21 Armstrong-Smith's listings in Alexandria in May, received 371 enquiries and 179 viewings. With 15 registered bidders, 50 people in the room and heated bidding, it sold for $132,000 above its $1,920,000 reserve, fetching $2,052,000.
For 100 attendees in Sydney's Eastern Suburbs, including buyers, sellers, landlords, investors and renters alike, the great Australian dream was recently given a boost by Century 21 Armstrong-Smith at their Property Panel Q & A evening. This was held to bring the community together, provide confidence during the current housing crisis and to support economic growth with local businesses and a local charity, Ways Youth & Family, which is a large part of the company's philosophy. The event succeeded, creating a welcome space for informative discussion, en pointe advice and direct answers to the topic-voracious audience.
Australia is full of real estate questions because it is full of real estate myths and misnomers. Through the remarkable efforts of Nicholas Armstrong-Smith, Director and Licensee, Century 21 Armstrong-Smith, Shona Armstrong-Smith, Director and Head of Property Management, and with the support of Charles Tarbey, Chairman of Century 21 Australasia and Clive Mathieson, Partner at Cato & Clive, the panel aimed to answer questions and solve these mysteries. Charles Tarbey kicked off the discussion with a reality check about the gloom and doom surrounding interest rates perpetuated by the media. "I don't have a concern about where the marketplace is because I've seen so many cycles over the years, as many of you seasoned investors would have. You would have been part of the 18% interest rate in the ‘70s and ‘80s at one stage and people are complaining about 6-6.5%."
He added, "A lot of banks and organisations that predict market changes do so with mostly historical data. So if you listen to what's happening out there in the press and don't make a decision to buy or sell, you are probably making a mistake."
The first mystery answered was why real estate fever didn't diminish this year. "We've seen the market be strong since September last year as the press started saying interest rates wouldn't increase and since then there has been a lack of supply," noted Nicholas Armstrong-Smith.
Those observations are especially pertinent to Sydney's Eastern Suburbs. "I think with half a million migrants arriving in Australia in the last year, mixed with the Eastern Suburbs being in high demand, plus we are landlocked so no one can build further East, and lots of people want to live in Australia, the Eastern Suburbs is a desirable place to live," he elaborated.
Century 21 Armstrong-Smith's idea that an information event would be welcomed turned out to be an ingenious decision. One highlight of the evening was the discussions between Clive Mathieson, Charles Tarbey, Nicholas and Shona as they analysed and debated the property market, recent budget, interest rates and investment strategies. Mathieson brought a unique perspective on strategy and communications in the property sector, formerly acting as Business Editor/Editor at The Australian, Senior Adviser and Cabinet Director to NSW Premiers Mike Baird and Gladys Berejiklian and Chief of Staff to Prime Minister Malcolm Turnbull.
Provocative questions were posed by Mathieson such as, "Does the media help with promotion and publicity, or does it sensationalise, misunderstand and mislead?" Nicholas Armstrong-Smith responded that "The media can both exacerbate and alleviate the housing affordability problem. By sensationalising market trends, it can influence buyer behaviour, potentially destabilising prices. Conversely, responsible reporting can educate the public, promote transparency and encourage effective solutions by highlighting policy impacts and innovative housing models."
Other discussions focused on eternal debates, such as investing in commercial or residential real estate. "Investing in residential real estate typically offers more stability and consistent rental income, making it attractive for long-term investors. On the other hand, commercial real estate can yield higher returns and longer lease terms, but it often requires more substantial upfront investment and carries greater risk due to its sensitivity to economic cycles. Each type has its merits and the best choice depends on an investor's financial goals, risk tolerance and possibly investing in both could be good," explained Armstrong-Smith.
The event also benefited the community. Charlie Powell from Under the Hammer ran a dynamic and competitive auction, raising $4,800 for Ways Youth & Family. Above all, the event achieved Century 21 Armstrong-Smith's goal of bringing the community together in a positive way through information, understanding and philanthropy, which they believe are the lynchpin of every community.
Century 21 Armstrong-Smith is a progressive, independent agency catering to Sydney's Eastern Suburbs property market and surrounding suburbs, with a close-knit team of local professionals who are experts in tailoring individualised property campaigns. Its impressive collection of awards includes the 2023 Century 21 Centurion Award for the 4th time, recognised as one of the top 2% of Century 21 Sales Agents globally; 2022 & 2023 Century 21 Gold Hat Award for Best Marketing and PR in NSW; Canstar Blue Most Satisfied Customers Award Real Estate; and Winner of the Waverley Brightest & Best Award Most Outstanding Real Estate Agency twice.
Contact: Nicholas Armstrong-Smith, nicholas@c21armstrong-smith.com.au, 0419 273 703
Shona Armstrong-Smith, shona@c21armstrong-smith.com.au, 0449 886 295
SOURCE: Century 21 Armstrong-Smith
View the original press release on accesswire.com
