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We are finding that an increasing number of our clients are engaging Buyers Agents to assist them with the search, negotiation and due diligence process for their next home and also for investment properties – helping to save time, stress and money.
With several years of success stories with our clients, we are pleased to introduce CORE Property Advisory (CORE) as the preferred partner to provide our clients with Buyer’s Agent services. CORE’s team have a proven track record of outperformance, with Residex independently confirming that CORE’s purchases for clients have generated significant outperformance vs. the general market, equating to approximate 5x return on each client’s Buyer’s Agency fees for the past 400+ client purchases.
CORE’s services are not publicly-accessible. Their service is exclusive in nature and available by referral via the top 3% of financial planners and wealth advisors nationally. As a leading wealth advisory firm, AGS Financial Group has been able to procure the services of CORE for the benefit of our clients.
Dozens of AGS clients have benefited from CORE’s services, which help ensure that our clients acquire the best properties – frequently off-market and under-market value. It is imperative to get the best advice & assistance when investing a large sum, such as a property purchase, and CORE have proven to be a valuable resource for our clients looking to buy their next home or build their investment portfolio.
CORE maintains an active footprint across Sydney, Melbourne, Brisbane and Perth and applies its market research for the benefit of clients looking to build stronger, more diversified and higher-performing property portfolios. Jason Isherwood, Director, CORE, comments:
“As at 31 March 2017, both the Sydney and Melbourne markets are still running red hot. With our two largest capital cities achieving 80% clearance rates in recent weeks, these markets are witnessing price growth of up to 2% per month and many ‘would-be-homebuyers’are continually missing out. Sydney and Melbourne are the least affordable cities in Australia, with median price to median income ratios of 11x and 9x respectively. It's a tough market for buyers, and in recent months, CORE’s buying specialists have assisted home buyers with securing OFF-MARKET properties at up to a 10% discount to market value. We have also represented buyers at auction and [utilising professional auction bidding techniques] have secured properties for nearly 10% below the vendor’s reserve price (compared to most others paying hundreds of thousands above reserve prices). Sydney buyers are increasingly realising the advantage of having professional representation on their side. CORE has consistently enabled clients to secure a quality home, much faster and for less money that they would otherwise have paid.
Brisbane, Australia’s 3rd largest city is forecast to have the most potential growth in the coming years, given its East Coast position and the fact that it has lagged Sydney and Melbourne. Brisbane is a modern city with good infrastructure and plenty of jobs, and much more affordable with house prices half that of Sydney’s prices (Brisbane’s median income to median house price is 6x, as compared to Sydney’s 11x). Brisbane does have a glut of apartments coming onto the market (like Melbourne and other areas), but CORE has always recommended houses (the key being the scarce land). Investors should avoid the unit market and instead focus on the good value and scarcity of houses.
The opportunity is compelling, particularly for Sydneysiders. We are purchasing freestanding houses on 400m2+ of land in quality suburbs less than 10kms from the CBD for as little as $550,000, or roughly the cost of a studio apartment in many top Sydney suburbs. Further, Brisbane has one council zone for the entire metro area and is very development-friendly which means that there are significant potential gains through future subdivision – on top of the forecast higher capital growth. Client portfolios also benefit from diversification, which is a sound principle in any investment asset class.
We are seeing many superfunds (SMSF’s) taking advantage of the opportunity to acquire houses at lower price points, and for those with slightly higher budgets we are achieving rental yields of 4.0%+. At the upper yield levels, these properties are covering their own costs (cash flow neutral to positive) which historically has been difficult to achieve with houses in blue chip locations. Sydney, by contrast, has typical house yields between 3 – 3.5%.”
Purchased AT AUCTION for a HOME BUYER for $70,000 BELOW AUCTION RESERVE
6/549 Darling Street, Rozelle $1,035,000 ($70,000 below reserve). Secured for an owner-occupier, 2 bedroom apartment in boutique block with harbour views.
Purchased OFF MARKET for a HOME BUYER at $250,000 BELOW MARKET VALUE
24 Grosvenor St, Wahroonga – $2,275,000 ($250,000 below market value). Secured OFF-MARKET for an owner-occupier, 4 bedroom, 2 bath, 2 car on 828m2 of land. Properties in this area nearly always trade above the $2.5m mark.
Purchased OFF-MARKET for a SYDNEY INVESTOR at BELOW MARKET VALUE
24 Roseberry Parade, Wynnum West – $480,000. 3 bedroom house on 560m2 of land. This newly renovated house was purchased for $100,000 below replacement value and rented quickly at $420pw (4.6% rental yield)
Purchased from DISTRESSED VENDOR for SYDNEY INVESTOR at BELOW MARKET VALUE
7a Bulli Street, Hendra – $1,100,000 ($200,000 below market value). Beautiful 5 bedroom home on nearly 1,000m2 in a premium suburb was secured by the CORE team for an AGS Sydney Investor. The property was subsequently rented with minimal vacancy for $1,150pw (5.4% rental yield)
CORE offer a free, no obligation, initial consultation to AGS clients. So whether you are looking to gain an advantage in the local market for your next home purchase by accessing off-market opportunities – or looking interstate to build on your current portfolio (inside or outside of your SMSF), contact us to arrange for you to meet with a CORE property strategist. If nothing else, you’ll walk away with good market information and great tips for your property search.
Financial planning, corporate benefits and mortgage services are provided by AGS Financial Group Pty Ltd ABN 70 093 990 946, an Authorised Representative of AMP Financial Planning Pty Limited ABN 89 051 208 327 (AMPFP), AFS Licence No 232706. Accounting, taxation, and business advisory services are provided by AGS Accounting Pty Ltd ABN 12 166 728 696. Liability limited by a scheme approved under Professional Standards Legislation.