An uphill battle or an open ground for opportunity? You’ll have heard and seen both ends of the spectrum when it comes to Sydney’s current housing predicament, with buyer behaviour clouded by uncertainty – and the market resembling an empty shop with a sale on.

At least that’s the current situation in South West Sydney, according to the latest findings from REA Group – showing a 33.5% decline in demand for properties throughout the region. So if prices are cooling off and affordable housing becoming a reality, then where are all the home buyers?

It’s a question that could be answered by the number of Australians looking to secure a home, at an arm’s length. One Sydney buyer summed it up over the weekend: “There’s a bit of uncertainty and if we hold off another year, we could potentially get more for our money.” (Domain)

Reasonable logic it may seem, if you can predict when property prices will be at their lowest – except that we can’t. And it’s this logic that’s building pent up demand for properties in Sydney, when only the act of people buying a home has changed, with the need still remaining the same.

The likely result? When the scales tip and property prices level out, the market will be flooded with buyers, driving competition (and therefore prices) back up. In which case, it’ll be too late for that bargain.

As it’s impossible to know the best time to buy until after it’s happened (i.e when the opportunity has come and gone), smart people are buying now. After all, you’re guaranteed to be getting more for your money than if you shopped 12 months ago –  with the added bonus of being ‘first to the shop’ with maximum choice.

Looking to buy? Don’t go past the experts.
Contact Prudential Real Estate:
 (02) 4628 0033 | campbelltown@prudential.com.au

Posted in Property Management | Comments Off on WHERE DID ALL THE BUYERS GO?

The lending squeeze: What’s the juice?

What you need to know about your mortgage (straight from the broker!)

In recent weeks you’ll have heard about the royal commission’s release of the interim report, warning that the tightening of lending procedures by banks could significantly reduce home buyers’ borrowing capacity.

But if this is the case, what will it mean for the average home seeker?

To find the answer, we turned to the referees at the forefront of the shift – mortgage brokers, who have let us in on what the changes will be.

The bottom line

The report has shown a greater push to ensure responsible lending, with further regulation to be enacted by lenders – the first being a proper assessment of income and expenses.

According to Craig Corbett, Finance Specialist at MoneyQuest, living expenses now have a greater influence on borrowing capacity, and higher living costs can, in fact, limit the amount borrowed.

Craig reports that over the next 12 months lenders will also be required to report a person’s repayment conduct to credit agencies, which will affect their ‘credit score’. In other words, a profile built on credit history has turned into a number. The higher this number the better, as it will impact what, with who and at what rate, you can borrow.

The solution?

It is advised that:

  1. Three months prior to making a loan application, go through your spending. Keep it to a level you would usually spend, if in debt. Discretionary spending is definitely factored into the lending process, so be mindful of gambling, eating out and entertainment.
  2. Ensure that all loans, including credit cards, bills and other loans are paid on time – EVERY time.
  3. With living expenses a significant factor, it might be an idea to have a ‘detox’ and reduce these wherever possible – starting with unused memberships or subscriptions.

In theory, the current decline of property prices due to the correction of the housing market could be a benefit for some home buyers, with a smaller price tag reducing the amount needed to be borrowed – in which case, the tightening of lending procedures may be of no concern at all.

Want the best home loan?

Click here for more information, or try the Prudential Loan Calculator.

Speak to the home experts today – contact Prudential Real Estate:

(02) 4628 0033 | campbelltown@prudential.com.au

Posted in Property Management | Comments Off on The lending squeeze: What’s the juice?

You better beleaf it: If you’re renting with a garden, you should know this.

There are many perks of raising a garden: Growing fresh ingredients for meals, making your home inviting, cutting down on the grocery bill or having an excuse for some sun and stress-relief.

But for some tenants, it can also be just as easy to turn a blind eye to an overgrown lawn or weed-infested patch, with keeping it ‘green’ last on the to-do list.

So when it comes to gardening, whose responsibility is it?

In NSW, it’s the responsibility of the tenant to maintain the property by rectifying any damage caused during the tenancy, and that includes outside. This could be anything from refilling holes dug by animals in a garden bed to tyre marks on the lawn. An important thing for guests to know, as any damage can be charged to the tenant.

For tenants living in a strata or body corporate complex, common areas cannot be used to plant or maintain personal gardens or veggie patches. So for green-thumbed gardeners, we recommend planting your goods in pots or polystyrene boxes to get your hands in the soil – this way, they can go with you should you move.

When vacating a property

Moving out of a property can definitely be a headache in terms of cleaning. But without doing a proper job, it can seriously delay the bond refund process. So it’s important to know that tenants are required to mow the lawns, arrange for gutters to be cleaned and to ensure that grounds and gardens are left tidy – without weeds or built-up leaves.

To ensure you get your bond back quickly, here’s our list of tradespeople that we trust (and recommend to use for their rates).

While you’re here, try our 5 TOP WATER-SAVING TIPS this dry Aussie summer.

  1. Close taps completely without forcing them, as this can cause damage or leaking.
  2. Swap to water-efficient heads wherever possible.
  3. Waiting for the shower to warm up? Place a bucket to collect water that can be thrown on the garden later.
  4. Don’t assume your garden needs watering everyday – check the soil first.
  5. A good soaking of the garden once or twice per week is better than watering everyday.

More info?
For a complimentary copy of our Tenant’s Handbook and for lots of helpful information, advice and tips, send an email to handbook@prudential.com.au.

Posted in Property Management | Comments Off on You better beleaf it: If you’re renting with a garden, you should know this.

The millennial debate: Should I be buying right now?

With all the negative talk of Sydney’s housing market downturn, you’d be forgiven for not realising that now is the perfect time to secure a piece of real estate as a first home buyer.

There’s certainly a lot in favour for those entering the property market for the first time, with APRA’s tightening of lending conditions a large contributor to housing affordability, as well as stamp duty concessions and incentives introduced for first home buyers. All of this, plus plenty of current sales listings, means that there’s now more opportunity to snap up a property bargain than there has been in a long time.

But while you debate whether to buy now or wait for later, it’s important to consider the factors that could prevent property prices from further significant decline.

According to Moneymag, Sydney’s population continues to grow rapidly, job creation is excellent and there is a great deal happening in terms of infrastructure (06.06.18). These are all obvious motives for people to up and move, and equally important factors such as the market value. In sum, securing a home now could be just as beneficial as waiting to buy later, with evidence to suggest that prices might begin to straighten out unless one of these factors change.

Of course, the best time to buy is when is suits your financial circumstances, which is your key to getting ahead in any market condition.

If you are currently looking to buy, don’t get caught out in the 9 biggest buyer traps! See our guide on how to avoid buying blind, with tips on costs, market research, bidding and more.

Chat to the experts – contact Prudential Real Estate on (02) 4628 0033 or via campbelltown@prudential.com.au.

Posted in Property Management | Comments Off on The millennial debate: Should I be buying right now?

Media profits BOOM over 40% gloom

An economic catastrophe is upon us all.

At least, that’s what you’d believe if you’ve bought into the recent ‘Bricks and Slaughter’ media circus brought on by 60 Minutes and other alarmist reports. With ‘slump’, ‘plunge’ and ‘set to crash’ dominating news headlines, it’s any wonder that doubt-stricken families are contemplating putting their property dreams on hold.

But for any good reason?

CoreLogic released a statement in response to the 60 Minutes report as ‘a presentation of the worst case scenario, with no regard for the likely outcome’ (21.09.18) – and we couldn’t agree more.

So here’s the facts: Property prices are simply re-adjusting following steady increases, with a 5-15% drop in Sydney suburbs – and there will always be attempts to predict the outcome. According to CoreLogic data, even in markets where prices have fallen consistently for more than four years, values have still not fallen anywhere near 40% (21.09.18). It’s certainly not the first time a market correction has occurred, and it won’t be the last.

What you need to know: there is plenty of opportunity to secure the perfect deal by selling your property. After all, there will always be people needing to buy (and move, and resell, and invest). And so the cycle continues.

As Scott Pape says, in any market, focus on what you can control; your savings, and when you’re ready to buy (24.09.18). And we will add to that, only buy what you can afford, and leave yourself ‘wriggle room’ for when interest rates do change.

Would you stop driving altogether to avoid a car crash?

Or rather, would you just drive with caution? The same can be said for selling your home. Be aware of the current market, but don’t let ‘scare tactics’ deter you from stepping into it. Because one of the strongest influences on property prices is marketplace perception, with buyers, sellers and investors too afraid to act on their goals – without any good reason.

Don’t just take the word of your neighbour… with the right agent and the right strategy, you can maximise your chance of securing top dollar on your home!

Speak to the experts today – contact Prudential Real Estate:
(02) 4628 0033 | campbelltown@prudential.com.au

Posted in Property Management | Comments Off on Media profits BOOM over 40% gloom

Celebrating a golden three decades!

Back in 1988, we opened our doors to Campbelltown with a vision to help our local community reach their property goals.

And 30 years on, we’re driven as ever through the same vision!

Prudential Real Estate has grown and diversified to become an established name in residential property sales and management throughout South West Sydney. Today, we’re recognised (and proud) leaders in customer service and innovators in technology, which owes as much to the incredible commitment of our staff as well as their motivation to serve our large community of clients and customers. 

Pictured: Michael accepts award for Innovation in industry

Pivotal Moments

We would love to assist you or your family! If you’re after stress-free property advice, contact our friendly team at Prudential Real Estate today. Call us on (02) 4628 0033 or email campbelltown@prudential.com.au.

Posted in Property Management | Comments Off on Celebrating a golden three decades!

Meet Melyn – our dedicated virtual assistant!

Above: The Prudential Real Estate Campbelltown team, with Melyn Bandibas (pictured in middle with glasses)

Innovation in technology and business have always been a vital part of how we operate at Prudential Real Estate. In an age where social media and digital communications are ‘king’, we’ve learnt to be solutions-driven by thinking outside the box, which has proven as rewarding as successful.

And we’ve seen no greater an opportunity to do this than by tapping into the new global market of ‘virtual assistance outsourcing’ – consulting an offshore partner for internal administrative support.

Met with the task of streamlining our property management systems, virtual assistance has provided the perfect solution for us. It has reduced the burden of our day-to-day property management admin and given us more time for what’s important – our customer service.

Melyn Bandibas is both a part of this growing market and a member of our much-celebrated virtual assistance team at Prudential Real Estate. Last week we had the pleasure of catching up with Melyn about her work; she joined us at our Campbelltown office all the way from the Philippines.

What have you most enjoyed about your time in Australia?
Melyn: It’s my first time outside the Philippines and Australia is really nice! It’s been great to meet the team at Prudential and get a direct insight into properties, inspections and other tasks, as well as other things like open homes which I’ve been going to.

What does a regular working day involve?
Melyn: Since 2016 I’ve worked remotely with Prudential. The tasks are always varied, but I mainly focus on bookkeeping and support for the property management and leasing team.

Have you learnt anything that you didn’t expect?
Melyn: I’ve learnt that real estate is a big industry in Australia! It also surprised me how friendly and close the team are at Prudential. There isn’t a sense of hierarchy, you can talk to anyone and the dynamics are very different. Everyone works together and it’s a lovely environment.

What is the real estate industry like in the Philippines?
Melyn: It’s very different. In most cases, people go to property landlords or sellers directly if they are interested in a home, there usually isn’t a middle person to manage it all.

What do you enjoy about your work?
Melyn: I love that I’m working in the future of business. I mostly enjoy helping with tenancy applications, but the variety in my work is the best part. No day is the same!

Posted in Property Management | Comments Off on Meet Melyn – our dedicated virtual assistant!

Riding the wave: What EVERY landlord should know about Sydney rent vacancies

‘Sydney vacancies at a record high’…
‘Rent crisis for landlords worsens’…
‘Property panic as rents plunge’…

If there’s one thing that’s hard to swallow for Sydney landlords at the moment, it’s the news headlines.

And not to any surprise, with an oversupply of rental properties the cause of concern for many who are trying to get a good return in a softening market – one which is experiencing the largest decline since 2005 according to recent data.

But is it really all doom and gloom?
As with any property cycle, Sydney is currently experiencing a post-boom correction and ‘cooling off’ following a prolonged period of steady increases in housing and rent prices. But beyond what the bleak headlines suggest, there are still plenty of opportunities for landlords to secure a tenant and make gains from the current market. All it takes it a slightly different approach, which we’ve outlined below.

Temper your expectations
With an oversupply in rental properties providing greater choice for tenants, it pays to be competitive as a landlord. Take our 26-week analogy as an example;

Option A
You’re looking for a tenant for a 26-week rental period but don’t want to lower your current yield of $500 per week. Your rental is empty for two weeks until you manage to sign a tenant, but for a 24 week period now – totalling $12,000.

Option B
You’re looking for a tenant and slightly lower your rent to $480 per week for a market competitive offer. You manage to attract and sign a tenant instantly, for a period of
26 weeks – totalling $12480.

Which makes more mathematical sense? While it may initially seem like you’re ‘losing out’ by lowering your rent, you could actually be losing more if your rental property sits empty.

Be flexible
Signing that tenant you want may require slight negotiation; for instance, matching their request for the first week free of rent in the tenancy agreement. Remember that by refusing to compromise or consistently knocking back offers, you could be suspending valuable income – and possibly for even longer than expected.

Want more advice about your rental property? Get in touch with an experienced Property Manager at Prudential Real Estate today.

Call (02) 4628 0033 or email campbelltown@prudential.com.au.


Posted in Property Management | Comments Off on Riding the wave: What EVERY landlord should know about Sydney rent vacancies

Same mould story

The organic material you don’t want to be growing.

So, we’re at the end of that tough Australian winter (…it gets cold, okay) after months of quarantining ourselves indoors to hot showers, heaters, humidifiers, coughed-up germs and maybe a tea (or hundred). The condensation cascading those walls will likely solve itself in summer, right?


In fact, it will take the same amount of time for mould spores caused by excess moisture to leave your curtains as it does your lungs… never that is, without significant treatment.

To prevent the musty buggers from dampening your mood this winter, check out our best tips below that are guaranteed to break the mould cycle.

  • Use every opportunity possible to ventilate your home by opening windows and doors during the day, or when it is warmest
  • Clean exhaust fans of any build-up that may prevent them from providing proper ventilation
  • Always turn on exhaust fans when showering or cooking, and open any windows near steam if possible
  • Wipe down wet areas immediately, such as condensation on doors or windows
    Allow as much sun into your home as possible
  • Discard mouldy items or food that could cause an outbreak
  • Regularly clean carpets and materials
  • Keep moisture absorbers in wardrobes or places that are dark

Did you know
Untreated mould can cause serious structural damage to a property and breach a residential agreement alone, if left unaddressed by the landlord or tenant.

For more information
Health NSW Mould Fact Sheet

Prudential Real Estate | (02) 4628 0033 | campbelltown@prudential.com.au

Posted in Property Management | Comments Off on Same mould story

Is your home SAFE this dry season?

We’ve all heard it before – working smoke alarms save lives. And with NSW thrust into the driest conditions in five decades and warm weather around the corner, now more than ever is the time to check yours.

But while fire safety is everyone’s responsibility, is it the duty of the landlord or the tenant to check smoke detectors? We’ve got the answers for you below.

Facts for landlords
In accordance with current NSW law, smoke alarms are mandatory in residential homes. So, landlords are required to install smoke alarms in their property, as well as ensure that regular compliance checks are undertaken on them. These can no longer be completed by real estate agents without qualification, but can be completed by verified smoke alarm compliance companies (which Prudential Real Estate can help you to coordinate). Standard checks are generally available from $99 from the following companies:

Facts for tenants
As a tenant, you are required to ensure that the smoke alarms in your rental property are in working order. This includes:

  • Replacing batteries in smoke detectors
  • Notifying your landlord or agent if they are not working properly.

If you have any questions or concerns about fire safety in your property, please get in contact with Prudential Real Estate on (02) 4628 0033 or via email to campbelltown@prudential.com.au

Online resources:
Tenants NSW
Fire and Rescue NSW

Posted in Property Management | Comments Off on Is your home SAFE this dry season?