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Jun 6, 2024

Winter Market Update

Winter Market Update Winter has arrived and the Hunter Valley is looking terrific, green from the coast to inland as a result of the rain throughout late May. We have seen continued stablility throughout the 2330 postcode over the past 3 months, with a 1.5% growth in housing values. The 'days on market' remains around that 60 day figure, with little change from the beginning of Autumn. The strongest growth conditions are currently seen throughout the lower quartile (more affordable homes). Duplexes and neat smaller homes continue to attract great interest. Singleton's perceived housing affordability and strong rental returns continue to catch the attention of Sydney and Newcastle buyers. The continuation of strong sale results throughout the 2330 postcode in Autumn are all positive signs as we head into the second half of the year. Winter provides a wonderful opportunity for those selling as many gear up for a spring sale. Those homes available throughout Winter sit in a less crowded marketplace and with features such a fireplaces and cosy rooms taking centre stage. Some of our highlight sales throughout Autumn: - 4 The Glade, Gowrie which SOLD for $1,070,000 after receiving multiple offers on the property. - 1 Park Street, Singleton which SOLD for the full sale price of $620,000 after a successful 3 week campaign. - 1/79 Wattle Ponds Road, Hunterview which SOLD for the full sale price of $535,000 before going to market to a buyer from our buyer database. We are offering a $10,000 discount on all lots at Bella Ridge if exchanged before June 30! There are only 16 lots left in this boutique residential release off Gardner Circuit. Prices start from an appealing $349,000 (accounting for the $10,000 reduction). If you're looking to build in 2024, get in touch today! We have some exciting new listings coming on in Winter, including a standout 6 bedroom near new home on 1 hectare with mountain views in Branxton, and one of Singleton's grand old residences fully restored to its former glory. In amongst these will be the release of Stage 6 Bridgman Ridge, set right on the edge of The Retreat with incredible views South toward the Brokenback Ranges. All current available properties - CLICK HERE Latest leased properties: - 42 Robinson Way, Singleton Heights - $620 per week - 3 Acacia Circuit, Hunterview - $600 per week - 4/9 D'Arbon Avenue, Singleton Heights - $530 per week Our average weekly rental currently sits at $462 per week. Click on the link below for your 2024 Winter booklet with more information! Winter booklet 2024

Mar 7, 2024

Autumn Market Update

Autumn Market Update Most were glad to see the back of a very hot summer, with it closing out on February 29 after a hot 42-degree day with a huge electrical storm. The market took a month to warm up in 2024, after a relatively quiet January. This was then followed up by a busy February which consisted of 33 transactions. Rental demand remains strong, always a good litmus test for the selling market, and investor enquiry has returned. With talks of easing interest rates mid-year, there are encouraging signs for the remainder of 2024. Similar to most NSW markets, ours remains stable, with a 0.8% increase in housing values throughout Summer in the 2330 postcode. The strong interest continues on properties up to $800,000 and we have seen excellent demand in the duplex market which sits around the $500,000+ mark. The continued activity of the first home buyer and the emergence of the retiree looking to downsize are playing major roles in driving the duplex and low maintenance residence demand. Further positive signs, with investors back looking at vacant land for duplex development. Some of our highlight sales throughout Summer: - 4 Carroll Street, Singleton which sold for a street record $1,320,000! One of the largest residential sale prices in Singleton's history. - 6 Eyre Close, Singleton Heights which sold for $775,550. $7550 above the listing price after 7 inspections and 2 offers. - 1/5 Lambkin Street, Hunterview which sold to a first home buyer for $540,000 after only 1 day on the market. We were also appointed to sell Stage 2 Bella Ridge A cul-de-sac residential release off Gardner Circuit near the pre-school of just 22 lots. We now offer both major residential land offerings in the Heights and Hunterview. Prices start from an appealing $359,000 at Bella Ridge and just a few remain from $410,000 in the impressive Bridgman Ridge Stage 8. If you're looking to build in 2024, get in touch today! All current available properties - CLICK HERE Latest leased properties: - 59 Hambledon Hill Road, Gowrie - $700 per week - 90 Gardner Circuit, Singleton Heights - $640 per week - 6 Robinson Way, Singleton Heights - $550 per week Our average weekly rental currently sits at $462 per week, up from $450 at the beginning of Summer. Click on the link below for your 2024 Autumn booklet with more information! Autumn Booklet 2024

Dec 5, 2023

Summer Market Update

Summer Market Update Incredibly, 2023 is drawing to a close. The year has seen a stable real estate market that has eased over the last few months. The average 'days on market' has increased from 56 to 69 over the last 3 months. However, our office average sits well below this figure and currently sits at 53 days. The ongoing strength and growth within the mining industry along with the major infrastructure projects (Golden Highway flyover & Singleton Bypass) continue to provide stability and constant rental demand. Looking ahead, interest rates appear to be close to their peak which should return some certainty. With limited housing stock and a well documented tight rental market, prices in the established property market are expected to remain stable. Singleton still provides plenty of value for the investor. Some of our highlight sales throughout Spring - 1/35 Sinclair Avenue, Hunterview which sold for $21,000 above the asking price, within 5 days on the market, after 4 offers. - 12 Woodward Avenue, Singleton Heights which sold for $9,000 above the asking price after 18 days on the market. - 125 Casey Drive, Hunterview which sold for $900,000 after 21 days on the market. We listed some of Singleton's premier properties throughout Spring including: - 'Carinya' - 4 Carroll Street, Singleton, an architecturally designed 4 bedroom family home set privately off the street on 2544 square metres. - 8 Ardersier Drive, Singleton, a privately positioned 5 bedroom family home with a rural aspect and 1750 square metre block. - 15 Gas Street, Singleton, a spectacular 4 bedroom Singleton family home being offered for just the second time in 100 years. All current available properties - CLICK HERE Latest leased properties - 38 Brucedale Avenue, Singleton - $480 per week - 5/40 Cunningham Parade, Singleton Heights - $420 per week - 10 Lambkin Street, Hunterview - $680 per week Our average weekly rental currently sits at $450 per week, up from $410 this time last year. Click on the link below for your 2023/24 Summer booklet with more information! Summer booklet 2023-24

Nov 24, 2023

Discovering Singleton

Introduction: Nestled in the heart of the Hunter Valley, Singleton emerges as a hidden gem with a unique blend of history, community spirit, and modern amenities. As a long-standing Singleton real estate agency, we are excited to showcase why many are proud to call Singleton home. [caption id="attachment_9242097" align="aligncenter" width="640"] Rawcliffe Street[/caption] Geography and Location: Located approximately 2 hours from Sydney, less than an hour from Newcastle city and airport, and on the doorstep of Lake St Clair and the Pokolbin/Broke wine country, Singleton enjoys a prime position in the Hunter Region. The area provides an escape from the hustle and bustle of city life. For those who appreciate a scenic drive, the picturesque landscapes surrounding Singleton make for a delightful day out. With direct expressway access from both Newcastle and Sydney, and major infrastructure projects such as the Golden Highway fly over and Singleton by-pass, Singleton is becoming increasingly connected. [caption id="attachment_9242099" align="aligncenter" width="640"] Rose Point Park + Sundial[/caption] Lifestyle and Amenities: Singleton is more than just a place to reside; it's a community that offers plenty. It boasts an array of amenities Including: parks and sporting facilities, cycleways, cafes and restaurants, pubs and clubs, shopping centres, the John Street shopping and event precinct + much more. With a local government focus on improving and creating green space, parklands and cycleways over the last decade, there are certainly plenty of options. Families can enjoy quality time at Rose Point Park, adjoining John Street or visit Townhead park that boasts a visitor centre, café, art gallery and extensive children's playground. 'The Valley Markets' (located at Townhead Park every second Sunday of each month) and local cafes such as 'Worn Out Wares' also add to the appeal of Singleton, creating a welcoming atmosphere for residents and visitors alike. There are plenty of options when it comes to education with 3 high schools, 5 primary schools and a TAFE college. [caption id="attachment_9242100" align="aligncenter" width="640"] Townhead Park Precinct[/caption] Community and Culture: Beyond its physical beauty, Singleton thrives on a strong sense of community. There are many active sporting clubs including the Singleton Strikers (Soccer), Singleton Greyhounds (Rugby League), Singleton Bulls (Rugby), Singleton Roosters (AFL) and a strong netball competition. Singleton is also home to community clubs including the Singleton Lions Club, Rotary Club, Singleton Men's Shed, Singleton Country Club + much more. Residents come together to celebrate local events such as The Singleton Show, Singleton Firelight and Christmas on John Street. Some other notable events include: The Broke Village Fair, SATS theatre productions, Singleton Lolly Run, Hunter Valley Wine Show and the Singleton Art Show. The warmth and friendliness of the community contribute to making Singleton a true home for its residents. [caption id="attachment_9242101" align="aligncenter" width="640"] Singleton Lolly Run[/caption] Real Estate Market Overview: Property prices have been stable throughout 2023 off the back of the strong industry and relative affordability when compared to markets east of Singleton. Our market still provides great value, with the median suburb house prices below (as of November 2023): - Singleton $565,930 - Singleton Heights $599,591 - Hunterview $711,945 - Gowrie $1,017,207 - Wattle Ponds $1,017,570 Nearby Markets: - Cessnock $551,453 - Lochinvar $670,388  - Greta $722,247 - North Rothbury $780,273 - Branxton $798,204 - Pokolbin $1,245,956 - Lovedale $2,129,534 Real Estate Opportunities: Singleton provides diverse real estate offerings, catering to varying preferences and needs. From the suburban living of Singleton, Singleton Heights and Hunterview to the charm of lifestyle properties at Wattle Ponds, Gowrie and Sedgefield, there is something for everyone. Bridgman Ridge estate also continues to provide the benchmark for people looking to build in a quality neighbourhood. Close in proximity to schools, shopping centres, playgrounds, and sporting facilities, it is the perfect spot for the growing family. Our agency is dedicated to assisting you in finding the property that perfectly aligns with your lifestyle and preferences. Client Testimonials: Don't just take our word for it - hear from satisfied clients who we were able to help find homes in Singleton. Great Experience: "I've heard people say that buying your first home is stressful, I didn't have that kind of experience with Lorna at all. I found Lorna to be very knowledgeable, friendly and always available to answer any questions." - Purchaser of 2 Sturt Avenue, Singleton Highly recommend: "We recently bought an investment property without knowing the area Lorna was extremely helpful. Her knowledge of the area made our experience extremely easy." - Purchaser of 1/59 Wattle Ponds Road, Hunterview These experiences showcase the personalised service our agency provides. We take pride in helping our clients achieve their real estate goals. [caption id="attachment_9242103" align="aligncenter" width="640"] Happy Buyers[/caption] Conclusion: In conclusion, Singleton stands as a testament to the beauty of regional living, combining modern conveniences with a strong sense of community. Whether you're drawn to its real estate opportunities, or the welcoming atmosphere, Singleton has much to offer. Explore the unique charm of Singleton and consider making it your next home. For more information on available properties or to discuss your real estate needs, give us a call on (02) 6572 4000, we are available 7 days a week.

Sep 4, 2023

Spring Market Update

Spring is always an exciting time in real estate, known as the 'selling season'. It traditionally sees a rise in listings and in buyer activity. We have seen an early arrival of the 2023 Spring 'selling season', with us negotiating 7 sales in the penultimate week of August and 8 properties exchanging during the month. The average sale price for our office throughout August was a solid $692,000. Some highlight sales throughout the month include: - 16 Dimmock Street, Hunterview which SOLD for a Street Record $930,000 - 7 Dudding Street, Singleton, a historic townhouse which achieved a sale price of $525,000 - 120 The Inlet Road, Bulga which fetched $1,080,000 We also listed 7 properties throughout August. We continue to see strong interest on new listings that are priced and presented well. An example of this is our sale of 10 Druce Smith Place, which SOLD within 10 days for the full price of $1.1 million, after 20+ enquiries. The Singleton market remains stable and is a reflection of the strong local economy and relative affordability. We have seen that the markets most impacted by rate rises are those higher value/prestige markets. The higher the value of the market, the more likely it’s seen poorer performance in the past year. According to CoreLogic’s ‘Regional Market Update’, the 2330 postcode saw a 0% gain in house value growth and unit values had a growth of 1.9%. As a region, the Upper and Lower Hunter Valley are leading the way in NSW regional value growth, with the Upper Hunter seeing a 3.0% rise and Lower Hunter a -1.4% decline over the last 12 months. Placing them in the 2nd and 9th spot with regard to highest growing regions in NSW (Shown Below). Rentals The NSW legislation which restricts rent rises to once a year has seen some dramatic rent increases issued to reflect current market value. The weekly rent per property has increased, in some cases over 60%, in the last 24 months. Nationally, rent values increased a further 0.6% in July, taking the national annual increase to 9.4%. Annual growth in rent values remains elevated on the previous decade average. First Homebuyers Assistance Thousands of first home buyers will no longer pay stamp duty. On Saturday 1 July, the threshold for stamp duty exemptions increased from $650,000 to $800,000 and the threshold for stamp duty concessions rose from $800,000 to $1 million. It means first home buyers purchasing a property up to $800,00 will pay no stamp duty, saving up to $30,735 under the changes. Based on the current housing market, NSW Treasury expects about 8600 first home buyers in the $650,000 to $800,000 range to pay no stamp duty over the next year, and about 4400 first home buyers in the $800,000 to $1 million range to pay a concessional rate of stamp duty. Selling this Spring? Contact us today on (02) 6572 4000 or CLICK HERE to book an appraisal. Click on the link below for your 2023 Spring Booklet with more information! Spring booklet 2023

Jun 1, 2023

Winter Market Update

Winter has arrived and with it, a new financial year. Nationally, the real estate market remains a major talking point. Here is your Winter Market Update. We had a strong Autumn quarter in terms of sales, with 18 sales for an impressive average sale price of $770,800 (excluding Bridgman Ridge). Properties that are well priced are still receiving enquiry, inspections and offers in the first 10 days. Three good examples of this are 12 Acacia Circuit in Hunterview, 7 Howe Street in Singleton, and 1 Dimmock Street in Hunterview, which all SOLD during the Autumn quarter for on or above the listed sale price within a week of listing. Winter looks to be another busy one after 10 sales in May. We have a number of listings coming on in the first weeks of the new season, so keep your eyes peeled as we have a range of properties that will suit multiple buyers. 1 Dimmock Place, Hunterview Nationally, housing market conditions are on the improve, with a 1% quarterly lift. This marks the first quarterly lift in national home values since May last year. Closer to home, CoreLogic data and analysis back up the comments we have made regarding the Singleton market throughout the first half of 2023. “Affordable rural markets continue to show resilience. Despite two interest rate rises over the first few months of the year, these markets offer relative affordability, have low listing levels, increased regional migration inflows and strong economic activity off the back of mining, agriculture and/or tourism.” The Singleton market remains stable and is a reflection of the strong local economy off the back of the coal industry, and relative affordability in comparison to nearby towns. HELP Debt HELP debts do not attract interest, but they are indexed to inflation, based on the consumer price index. (Mentioned in our Autumn Market Update) There is set to be an increase to repayments on the Higher Education Loans Program (HELP) debts – commonly known as HECS. The repayment jump will average $1760 a year as balances rise by 7.1 per cent today. The Australian Financial Review revealed that graduates in the 20-29 age group will take the brunt of the CPI rise, with their increase going up by an average of $2069 on the median debt of $29,138. Help debts do effect how much a bank is willing to lend you for a mortgage, as they lower your take-home pay. This means if you’re considering applying for a home loan, you should speak with a mortgage broker to determine whether you’d be in a better position if you paid off any Help debt now or kept that extra cash for your deposit. 2023-24 Budget: Real Estate The two real estate takeaways from the recent Labor 2023-24 budget include changes to the Build to Rent tax rate as well as an expansion to the low-deposit home loan schemes. Build to Rent refers to a residential development where all units are retained and rented by one owner. The budget outlined “a reduction in the withholding tax rate for eligible fund payments from managed investment trusts attributed to newly constructed build-to-rent developments from 30 to 15%. Research suggests this could boost housing supply by 150,000 apartments over 10 years. The Federal Government currently has three low-deposit home loan schemes running: The First Home Guarantee, The Regional Home Guarantee and The Family Home Guarantee. The budget outlined an expansion to the criteria of those who could qualify: Any two applicants beyond spouses and de facto couples. Non-first home buyers who have not owned a home for the last 10 years. (First Home Guarantee, Regional Home Guarantee) Single legal guardians of dependents. (Family Home Guarantee) Permanent residents may now also qualify for the Home Guarantee Schemes. Stamp Duty Increased stamp duty exemptions for first home buyers in New South Wales after legislation was passed in the lower house. The First Home Buyers Assistance Scheme raises the threshold for stamp duty exemptions for first home buyers from $650,000 to $800,000 and stamp duty concessions from $800,000 to $1 million. First home buyers purchasing a property for $800,000 stand to save $31,090 in stamp duty. The new scheme replaces the former government's first home buyer land tax option. "These changes will help five out of every six first home buyers pay no stamp duty, or a concessional rate, and delivers a key election commitment to abolish the annual property tax." Winter Quarterly Booklet - CLICK HERE

Apr 11, 2023

How To Present Your Home When Selling

If you’re looking to sell a property, presentation is paramount. Here are some tips from the team at Peter Dunn Real Estate on how to stand out in the crowd and appeal to prospective buyers.   First Impressions count We are attracted to homes the same way we are attracted to people. The first thing we notice is the outside. Often prospective buyers will drive past a property before they contact a real estate agent, therefore it is important the property is clean, neat, and welcoming. Overflowing bins, an overgrown yard, and piles of shoes near the front door don’t get a good response – your home needs to look loved and cared for from the very beginning. Keep it clean Cleaning your house is a no-brainer. It’s a big mistake to assume buyers can look past a messy kitchen or sticky floor. While you may be accustomed with how your home looks, the first time the buyer sees it – is the memory that sticks. Remove pet hair and pet odours. If you’re unsure if your home has any funny odours, ask a friend to give you an honest opinion. The best smell when selling is fresh, clean air. Cleaning costs nothing – but is well worth the effort. De-clutter Stuff seems to accumulate the longer we live in one place. Use moving as a motivator to de-clutter your home and get rid of anything you don’t need. Box up anything you’re not ready to part with and put it in storage. Sell any larger or expensive items on Facebook Marketplace, ‘Buy, Swap & Sell’ pages, or hold a garage sale. Just be aware that scammers exist and therefore we suggest using good ol’ fashioned cash for these transactions. Not only will de-cluttering help get rid of any unwanted items, it opens up your home to create a more spacious feel. It’ll make your home feel like a loved and well-ordered place to live, exactly what buyers want! Investors included. Routine maintenance Has the number on your letterbox fallen off? Does the front gate get stuck? Does the shed door open and close properly, or is it in desperate need of some WD-40? These may sound like trivial details, but you can bet buyers will notice. While a complete renovation is unnecessary, it is worth taking care of the little things. Finishing touches Showcase your home with simple finishing touches. It doesn’t have to be anything dramatic – think streak-free mirrors and clean windows, well-lit rooms, fresh flowers, or pot plants. Small details can add to the overall image of your home and make it a welcoming atmosphere for potential buyers. If you are looking to sell and are after a more in-depth conversation regarding the presentation of your home, give us a call on (02) 6572 4000. You can also fill out the form below to receive our comprehensive guide to getting the highest price for your property.

Mar 30, 2023

Selecting An Agent

It goes without saying that it is very important to select a real estate agent who is not only competent, but also professional, reputable and ethical. Most people are aware of some of the bad industry practices from first-hand experience or from TV programs and Tik Toks that highlight dodgy agents and agencies. However, there are certainly agents who operate professionally and ethically. In looking for an agent that will work in your best interest, word of mouth recommendations are always a good way to start. If you don’t have a recommendation, you may consider reaching out to other vendors who have just sold with the agent you’re considering. Treat the appointment of the real estate agent like a job interview. They should be able to provide you with information of recent sales of houses similar to yours in your area and of other properties currently on the market (your competition). If you are interviewing more than one agent, you may be tempted to choose the agent who quotes you the highest selling price for your home. Although agents are obligated to substantiate their quoted price, they certainly are under no obligation to achieve the quoted price when selling it. Contrary to some peoples belief’s, agents do not control the market. Remember, if your selling price is too high, the right buyer for your home may buy something else and you’ll miss out on selling for the highest price, costing you time and money. Agents’ commissions are negotiable, so you can negotiate a fair commission. Most agents charge between 2% and 3.5% of the sale price. Although some agents will go a little lower and some as high as 4%. When negotiating commission be careful of what is and isn’t included. Some agents have one ‘all inclusive’ fee, while others have a fee plus an amount for advertising and other costs which are payable whether you sell or not. Be aware of catches. A low fee may not provide the incentive required for maximum effort to be put into the sale by the sales team. They are more likely to put the majority of their effort towards selling a property for a vendor who is paying them a higher commission. Don’t rush into signing up with an agent to sell your most valuable asset until you have done your checks and are totally comfortable that they are the right people for the job.