Click on the following link to view the latest edition; Balmain Realty Issue 5 A4 Web Version
Leichhardt Council has recently voted to rezone the land around the Carrier/Multiplex site on Terry Street in Rozelle from industrial to residential zoning.
This makes way for for construction company Anka Pty Ltd to lodge its development application for the Terry St site, although they have already had to reduce street-front buildings from four storeys to three storeys and the central apartment block from eight storeys to six storeys.
There are also plans underway to widen and add to the existing roads around the site to improve the traffic flow.
The size of the planned residential complex takes into account the surrounding Balmain Cove and Balmain Shores complexes which are both restricted height residential sites.
The Council approval signifies the need to significantly increase the volume of housing available in the inner west in response to strong market demand for accommodation and investment property on the Balmain Peninsula.
* information derived from http://www.leichhardt.nsw.gov.au/IgnitionSuite/uploads/docs/minutes-oct2012-pc.pdf
1. Update your advertisement
If your listing and marketing details remain unchanged for months on end, your potential buyers will notice. Photos are one of the most important ways for a purchaser to connect with your property so be sure to keep the advertisement looking fresh by updating the photos regularly.
2. Give your property a mini-makeover
A spring clean can make a huge difference. De-clutter and make the most of your space – every room needs to be tidied and non-essential items are best to be stored away. Carpet cleaning can also help make a home look more inviting. And finally, look at low cost, quick facelifts. Minor changes like a new coat of paint or some attractive plants in the garden can make the world of difference. Be sure not to over-capitalise when you carry out makeovers – the purpose of the mini-makeover is to sell the property quicker, not to increase the asking price of the
3. Change your price
The most important factors that you can control are presentation and price. If you have done all you can to improve the presentation of the property then the price is the next factor to consider. In a down market, price is very sensitive, and even a small price variation can stop an
interested buyer from lodging an enquiry. Do some research and be honest about the price. Check on how your property measures up against similar properties in the area – it is far better to be competitive and achieve a quick sale rather than waiting and hoping for an unachievable price while the property sits vacant and bills come in.
4. Take a break from the market
If you are not prepared to lower the price on the property as a last
resort you might consider leasing the property for a few months and then re-listing for sale in a stronger market which gives you an
opportunity to present to a fresh new group of purchasers.
Looking at ways to get your property ready for the rental market? Here are five easy steps to give your place a fresh new look on a budget:
A fresh coat of paint is a simple way to achieve a dramatic transformation.
It is always best to stick to neutral colours – the top 3 colours this year
according to Dulux are Antique White USA, Natural White & Hog Bristle.
Laying fresh mulch on your garden beds and pots can tidy up the yard instantly – the most popluar mulch is medium or coarse grain bark mulch which break down slowly & stops the soil drying out.
Laying new carpet is a bit more expensive but can make a huge impact on the way the property is perceived. It is advisable to lay a darker neutral colour in a medium brown or a medium grey which doesn’t show the dirt as much as a lighter colour carpet. For rental properties, it is usually
advisable to lay a cut pile nylon or nylon blend as they tend to resist stains & furniture indents better than wool carpets.
Make sure that all general maintenance is attended to prior to conducting open house viewings. Prospective tenants will be put off if the property looks to be in poor condition. The things you should be looking at are:
Water stains or paint bubbling on the ceiling or walls
Loose power points, light fittings or exposed electrical wiring
Broken door handles
Damage to concrete/ brick or render on internal & external walls
Dirty or broken blinds