News
Whats Happening.
No Vacancies
The latest report provide by the Real Estate Institute of New South Wales
confirms what everyone has know for a while and that is vacancy rates are well down with a 0.9% vacancy rate across all of Sydney- including the inner west and outer suburbs.
As for the Hornsby area it’s a real battle for those looking to find rental accommodation. We have seen queues of 15 –20 people looking to rent a two bedroom apartment and there is little around to satisfy a desperate need.
From an investor point of view rental have increased significantly across the boardand it would seem at present that the current trend is likely to continue.
Pre Purchase Inspections-Most common building faults.
Archicenre’s pre purchase inspections figures illustrate some interest
Results and suggest that one in three homes sold have a building defect of some kind.
Archicentre inspectors carried out over 5544 building inspections across NSW in 2007 and came up with some very interesting statistics:-
- Damp - 43%
- Cracking - 38%
- Roofing - 35%
- Timber rot - 33%
- Electrical - 28%
- Illegal Building - 27%
- Framing - 22%
- Stump faults - 17%
- Plumbing - 8%