Vendorable

24/01/2025

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Property 🏡 leased in Centennial Park, NSW

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24/01/2025

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Property 🏡 sold in Centennial Park, NSW

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24/01/2025

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Property 🏡 sold in Paddington, NSW.

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24/01/2025

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Property 🏡 sold in Annandale.

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12/01/2025

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Property 🏡 sold 🪧in Rushcutters Bay, NSW Australia.

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04/01/2025

High quality estate administrators will always want to go to market for services because you never know what market intelligence will be obtained by ‘testing the market’.

Preferred or panel suppliers can be included, but they shouldn’t be the only parties to submit to tenders.

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17/11/2024

The latest data on jobs, underlying inflation, government spending, and international positions doesn’t bode well for any imminent rate cuts from the Reserve Bank of Australia. We’re firmly in a “higher-for-longer” environment, with significant short- and medium-term implications for both residential and commercial real estate.

1️⃣ Vendors will face continued price resistance.
Buyers remain constrained by higher borrowing costs, meaning vendors must adopt pricing flexibility and sharp marketing strategies to meet the market. This will lead to a bifurcation: vendors with high borrowing levels may need to concede faster, while those without financial pressure may hold out for the right buyer with sufficient capacity.

2️⃣ Renters remain under pressure.
As homeownership drifts further out of reach, rental demand will continue to intensify. Policymakers may need to step up with bold solutions, including social housing programs, relaxed planning restrictions, or adjustments to tax settings affecting investors—all aimed at easing affordability challenges.

3️⃣ Policymakers face mounting pressure to address systemic issues.
Prolonged high rates are deepening the housing affordability crisis. Expect growing Federal and State intervention, with heightened focus on homeownership, renting, and broader market stability.

4️⃣ Investors will shift focus.
In residential markets, rental yields will take precedence as capital growth slows. Meanwhile, in commercial real estate, A-grade assets are outperforming as businesses prioritize high-quality spaces to attract talent or re-establish on-site work. B/C-grade assets, however, face growing risks, as tenants consolidate or upgrade.

5️⃣ Borrowers in trouble are pushing banks to tough decisions.
Interest-only arrangements might offer temporary relief but are no panacea. Downsizing or selling to reduce loan balances could become unavoidable for some, while others may rely on redraw facilities for short-term flexibility. Yet, if rates stay elevated for another 12+ months, even these options may lose viability, straining both banks and borrowers.

Navigating a higher-for-longer rate environment requires more than resilience—it demands smart, decisive action.

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27/08/2024

When it comes to getting what you need from the market, clear instructions are key. Service providers aren’t mind readers—they’ll only provide the information you specifically ask for.

Now, you don’t have to be an expert in every field when you’re seeking quotes or proposals. However, doing a bit of research to better structure your request can make a world of difference.

Here are some simple tips to help you get the best responses when reaching out to service providers:

1️⃣ Be clear about what you want. Whether you’re just testing the waters or ready to move forward, let them know how much detail you need.

2️⃣ Specify your preferred format. Do you prefer numbers or more detailed explanations? If you’re not a fan of PDFs, ask for the information in a way that’s easy for you to access and use.

3️⃣ Mention any non-negotiables upfront. It’s better to get these out of the way early, so no one’s time is wasted.

4️⃣ Be honest about your budget. This can save everyone a lot of time, especially if you have a strict budget to stick to.

5️⃣ Set clear timelines. Let them know when you need the information and when they can expect to hear back from you.

These tips come from our experience at Vendorable, where we’ve seen how clear communication can really make the difference in getting the best results.

We’d love to hear from you—what other tips have worked well for you when working with service providers?

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23/07/2024

Contract drafting really does matter.

sales can be impacted significantly by drafting in special conditions.

Obviously vendors don't expect what happened in this matter to occur, but it does highlight the critical role your contract drafter plays in your sale process.

Article:

“You’re not legally allowed to ask for a price reduction just because someone dies,” said the agent. But one buyer did – and then pulled out of the sale.

06/01/2024

commentary:
Property prices forecast at +4% for CY 2024.

Forecasts from various forecasters estimate on average combined capital city house price growth at 6-8% and unit price growth at 2-3%

Compare this to CY 2023 at +8%.

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Article: https://www.afr.com/property/residential/house-price-growth-to-slow-to-4pc-as-rates-bite-20231228-p5eu1b
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The heat is coming out of last year’s surprise housing recovery, with the pace of price growth tipped to halve, held back by affordability constraints.

10/10/2023

Lawyers and accountants play a pivotal role in managing deceased estates, ensuring that assets, especially properties, are processed efficiently and ethically. One of the most significant aspects of this responsibility is using effective methods to obtain service proposals.

Here's why:

🔍 Value for Money:
Ensuring value for money is paramount when handling the assets of deceased estates. By actively sourcing competitive proposals, professionals can make substantial cost savings. This approach guarantees that the beneficiaries of the estate receive the maximum value possible. It's essential to:

- Compare the features of various service offerings.
- Evaluate the cost-effectiveness of each proposal.
- Consider the past performance and reliability of the service providers.

📜 Due Process & Compliance:
Beyond the financial implications, following the correct procedures in obtaining service proposals is about upholding the integrity of the profession. Adhering to due process isn't merely about best practice—it's often a legal necessity. Ensuring compliance:

- Guarantees that all actions are in line with legislation and regulatory standards.
- Ensures transparency in every step, from proposal evaluation to final selection.
- Reduces the risks associated with disputes or potential litigations.

🧠 Complex Aspects of Estate Management:
Managing property assets in deceased estates goes beyond basic transactions. These assets often involve intricate financial and legal components that demand specialized attention. This includes:
- Accurate property valuations and appraisals.
- Understanding tax implications and potential estate duties.
- Navigating the complexities of asset transfers and title changes.

Given these complexities, it's crucial to select service providers who possess the requisite expertise and experience.

🤝 Concluding Thought:
Obtaining the right service proposals is about more than just ticking boxes. It's about safeguarding the interests of the deceased's legacy, upholding the highest professional standards, and delivering the best outcomes for all involved parties. As lawyers and accountants, it's our duty to collaborate, compare, and comply, ensuring we meet these expectations every time.

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13/04/2023

commentary:
A lot has been discussed with respect to recent falls in house prices across Australia, and their current (maybe temporary) stabilisation.

Another topic that has dominated the news is the rental crisis currently underway in most metropolitan cities and regional centres.

The two (price stabilisation and rental stress) are definitely connected.

In spite of a series of interest rate rises three things have occurred:
- the number of occupants per dwelling fell in 2021 and that trend has been maintained as we choose to live with less people per house post-Covid
- construction costs have risen courtesy of supply chain issues and labour shortages, and this has affected construction starts and some completions (through home builders closing)
- immigration has returned, and is higher than originally forecast.

All of these factors have resulted in greater demand, and less supply in the rental market.

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Source article: https://www.abc.net.au/news/2023-04-12/why-rents-australia-increasing-cause-interest-rates-immigration/102208316