Media

The media often seek our opinion about local property buying trends and updates for Queensland. Here are just a few of the articles that we have been asked to contribute to or have relevant information you may find interesting:

It is a sector of the property market that keeps growing.

Despite all the jokes about troubles finding tradesmen, renovating still seems to be one of the nation's most popular pastimes.

Choose your improvements wisely and renovating can add substantial value to your home.

But poorly thought-out changes can even lower the value of a home despite the best intentions.

Buyer's agent Meighan Hetherington said spending thousands on high-end ovens and expensive tap fittings was one area where sellers were unlikely to recoup the expense.

"The fixtures and appliances should be in keeping with the value of the house," Ms Hetherington said.

"High-end ovens in a cheaper house don't add value."

According to Ms Htherington, a fresh coat of paint and polishing the floorboards were amongst the best low-cost options for increasing the value of a home.

For the full article please click here 

Houses are seling almost twice as fast as last year, as Queensland's property market bounces back from the global financial crisis.

Buyers fearful of missing out have started offering over the asking price.

With sellers jumping at quick deals, more than 14,300 properties have been put on the market in the past month.

More than $37 billion worth of property is now for sale. Since the end of last year, Brisbane prices have shot up by about 5 per cent and buyer's agent Meighan Hetherington of Property Pursuit said homes were taking far fewer days to sell, as buyers tried to beat the rises.

Across Brisbane it now takes on average 58 days to sell, compared with 98 days a year ago.

"The market is similar to how it was at the end of 2006 and start of 2007," Ms Hetherington said.

For the full article click here

City News:  Poor Planning can be an expensive mistake  by Luke Royes 8th April 2010

Poor planning when purchasing a home could cost you a new car or a luxurious holiday abroad.

Property Pursuit agent Meighan Hetherington has waned prospective house buyers than only a small calucualtion error in the value of their new home could cost, on average, $25,000.

.....According to Ms Hetherington, house sale prices are otfen determined by market pressure rather than the home's true value, amaking it difficult for the average buyer to establish the right price to pay for a property.

"the Australian model for selling real estate is skewed in favour of the vendor, so it's important that prospective buyers seek fair representation for themselves and in all probability, save themselves tens of thousands of dollars" Ms Hetherington said.

RP Data's research director Tim Lawless said the continued high rate of capital gains in the new year came as a bit of a surprise.

For the full article click here

The news from the field is this: Don’t trust the simplistic overview. The days of consistency among the states in price performance and supply are dead and generic national outlooks are increasingly useless to smart investors. A watchful eye on each of the state’s economic influences and each city’s property drivers are compulsory in times like these.

I asked several property experts and an economist for their view on what is driving Australian capital cities’ residential property markets, and the news is interesting, varied and for some investors unsettling. While overall clearance rates are high, not every sale result is a reliable indicator of market dynamics. Each city’s market is patchy and I believe this patchiness is the result of two factors......

Brisbane’s market has good volumes of supply across most price ranges but there is limited volume in the most desirable suburbs, pushing many towards smaller properties just to stay in their preferred area, according to Meighan Hetherington, managing director of Property Pursuit. This is an experience consistent with Melbourne.

"Many more people are willing to compromise on property size or the need to renovate just so that they can live or invest in the area they prefer,” Hetherington says. Around $500,000 could buy a three bedroom house within 12 kilometres of the city, $600,000 would buy an updated Queenslander within 8km of the CBD, and $700,000 is required to purchase a house in premium suburbs such as Paddington or Ashgrove, she says.

For the full article please visit http://www.eurekareport.com.au/

For the full artice please visit http://www.aussie.com.au/

Australian Property Investor: The Tips and Traps of preparing to buy January 2010

The property pendulum is on the upswing, according to Property Pursuit managing director Meighan Hetherington, and to get in on this fast moving market buyers need to be better prepared.

For the last quarter of 2009, Property Pursuit reported 'days on market' as between seven to 10 days in some parts of Brisbane.

Hetherington said now is the time to get in on the action and secure a property before the housing supply declines further and faster.

"....we have already seen many homebuyers returning to the market, with many of (these) buyers spending time and money getting ready to go to auction on properties that are simply out of their price range," said Hetherington.

Hetherington has revealed her tips for buyers when considering a property:

1. Location: Does it have schools? Shops? Day care? Car parking? Major shopping area? Cafes? Sporting facilities?

2. Transport: How do people get to work in that area? How far is it to bus stations or train stations?

3. Demographics: Look at the potential demand of the property by matching the household demographics to the property.

4. Rent-ability: Review the logical layout of the home. Does it have adequate sized bedrooms? Are there usable living spaces inside and outside, and other features such as storage?

5. Potential: Is there an ability to increase the value of the property through renovation or development? Check the surrounding properties can't become high-density blocks of units.

6. Affordability: Stay within the second and third quartile of prices in the suburb for price and rent.

And what she regards as the traps to be wary of:

1. Avoid buying with the heart and forgetting the head.

2. Avoid buying that 'bargain' property - there are usually major negatives that will stifle growth. If it sounds too good to be true, it usually is.

3. Don't miss good opportunities because you're waiting for the 'perfect' house. Every house will have trade-offs and compromises.

For the full article please visit API. Also appeared on Yahoo 

Australian Property Investor: Buying now to avoid limited supply January 2010

As property values increase steadily into 2010 and supply thins out, now is the time to buy, according to residential and commercial buyers agents Property Pursuit.

"Buyers need to realise that the peaks and troughs of the property market are shortening, so we are now seeing the start of a property market surge, reminiscent of 2007," said Property Pursuit managing director Meighan Hetherington.

"We've already seen high prices and fast moving sales in the second half of 2009, so the next downturn in the market may not occur for another two years."

She said when on the search for properties and determining the best time to invest, the property lifecycle must be studied, along with the property fundamentals.

"If you wait until the end of 2010, you could face exorbitant costs and limited supply," she said.

For the full article please visit API

Australian Property Investor: Meighan was interviewed in December 2009: What are Brisbane's in-demand suburbs?

Lutwyche, Ashgrove and Greenslopes are among the suburbs Meighan Hetherington from Property Pursuit believes are set to benefit from gentrification, infrastructure and an increase in demand in the near future.

Hetherington says premium property in Brisbane is back in demand, with homebuyers paying a premium to secure their own abode.

"Since June this year, we've witnessed a rapid increase in demand for properties, especially prestige properties in the Brisbane CBD," she says.

"We believe it's the result of pent-up demand formed over seven months of economic instability."

For the full article please visit API

Money Matters: In October 2009, Meighan was quoted in Property Advisors provide link with Financial Planners

Property advisers can provide a link between a financial planner and a client who wants to add property to their portfolio, according to Property Pursuit director Meighan Hetherington. While financial planners may be skilled in advising clients to include property in their investment portfolio, they do not have the skills, abilities or licences to assist them with suggestions on what type of investment property to purchase, Hetherington said.

For the full article please visit Money Matters October 2009

Australian Property Investor: In October 2009 Meighan was interviewed for "Avoid the 'Buy and Hope' Strategy"

City News: In September 2009 Meighan was interviewed for "Million-dollar houses back in buyers' buzz"

Prestige property in Brisbane has attracted an unexpectedly high level of inquiry and activity, according to leading Brisbane buyers agents and property advisors, Property Pursuit.

Director Meighan Hetherington said the $1m-plus bracket was being driven by buyers taking advantage of the lull in activity and a reasonable level of supply.

To read the full article  click here

REIQ Journal: "Demistifying the role of a Buyers Agent" August 2009