12 Oct Getting your roof ready for a property sale
Good news for property owners across Australia: the value of their assets is going through the roof – unfortunately for many properties, so is rainwater, draughts and anything else that should be kept outside.
Without adequate roof maintenance and repair, owners of commercial buildings could easily find that any property sale is hampered by persistent safety issues. That’s because even a crack in a concrete roof can become a serious problem that compromises the structural integrity of the wider building.
Buyers want a watertight investment, as well as a building with a roof that meets the same criteria. So, exactly what’s going on in the property market?
Australia’s booming property marketYou may have heard how the value of Australian property is skyrocketing, but do you know how stratospheric the levels currently are? According to the Commonwealth Bank’s Property Insights, commercial property is in line to break all pricing records.
It’s a trend that we’re seeing across all states, the Bank explained, though one that is perhaps most prevalent in city-centre property.
“With the weighted average Prime CBD office yield dropping to 5.86 per cent across Australia, it now sits just 29 basis points away from the previous peak recorded in 2007,” the report read. “It is likely to reach and pass this level in the second half of 2015.”
Property values in Aussie capitalsProperty managers of commercial flats may want to take note: dwelling prices are rising, too. As you might imagine, properties in capital cities are generally valued higher, as the old axiom “location, location, location” still stands strong.
As of July 31, 2015, the best-performing properties were found in:
1. Sydney – Median dwelling price: $790,000, providing sellers with a 22.8 per cent gross return
2. Melbourne – Median dwelling price: $568,200, providing sellers with a 15.2 per cent gross return
3. Brisbane – Median dwelling price: $458,200, providing sellers with a 8.8 per cent gross return
4. Adelaide – Median dwelling price: $400,000, providing sellers with a 7.9 per cent gross return
5. Perth – Median dwelling price: $515,000, providing sellers with a 3.9 per cent gross return
Are you thinking of selling your property?Whether you’re considering cashing up now or seeing how the market develops, it’s almost certainly time to take a look at your roof.
R&BS experts run everything from routine maintenance to major repairs on all roof types – including concrete, metal and tiled. So, if you’re looking for building maintenance in Sydney, Brisbane or anywhere else, give us a call to discuss how we can add value to your commercial property.